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Lafayette Parish FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Lafayette Parish, Louisiana based on real HMDA transaction records.

Loan Details

Lafayette Parish, LA Benchmarks

FHA averages
Typical Property Value$245,598
Average Down Payment6.9%
Average Interest Rate6.087%
Effective Tax Rate0.57%
Median Tax Paid$1,380/yr
Tax Growth (Historical)+0.7%
Based on 1,287 regional loans totaling $292,885,000 (HMDA database).
$
%

$16,946 down · $228,652 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$117 / month

$

Annual premium

$

Per month

%

$97 / month

Estimated Monthly Payment

$1,772/mo

  • Principal & Interest$1,408
  • Property Tax$117
  • Home Insurance$150
  • FHA MIP$97
Amortization · Remaining Balance

Financed Loan Amount

$232,653

Total Interest

$274,358

Total of Payments

$507,011

*Includes financed FHA Upfront MIP of $4,001

Local Market Insights

Lafayette Parish FHA Mortgage Overview

In Lafayette Parish, the 6.93% weighted average down payment on FHA loans provides accessible entry for buyers, but the 93.07% median LTV ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan—ideal for those with sub-620 credit scores. With a 0.57% effective property tax rate and a 0.7% inflation-adjusted tax increase, monthly affordability is modestly impacted. For a precise estimate, explore an FHA loan calculator with PMI and taxes in Lafayette Parish, LA, or review Lafayette Parish FHA loan limits and tax calculator tools to understand your full obligation on a median $245,598 property.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.