Ouachita Parish FHA Loan Calculator

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

Loan Details

US County (Smart Autofill)

Loan Type

Ouachita Parish, LA Benchmarks

FHA averages

Typical Property Value$225,628

Average Down Payment8.0%

Average Interest Rate6.387%

Effective Tax Rate0.52%

Median Tax Paid$1,054/yr

Tax Growth (Historical)+0.6%

Based on 590 regional loans totaling $121,370,000 (HMDA database).

Home Price

Down Payment

$18,050 down · $207,578 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$98 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$88 / month

Estimated Monthly Payment

$1,656/mo

Principal & Interest$1,320
Property Tax$98
Home Insurance$150
FHA MIP$88

Amortization · Remaining Balance

Financed Loan Amount

$211,210

Total Interest

$263,900

Total of Payments

$475,110

*Includes financed FHA Upfront MIP of $3,633

Local Market Insights

Ouachita Parish FHA Mortgage Overview

In Ouachita Parish, the 8.00% down payment on an FHA loan at a 92.00% LTV ratio provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan. This is ideal for buyers with a sub-620 credit score purchasing a primary residence. With an average property value of $225,628.18 and a 6.387% rate, the effective 0.52% property tax rate plus a 0.6% inflation-adjusted shift keeps monthly affordability manageable. For a detailed breakdown of FHA loan down payments with PMI and taxes in Ouachita Parish, LA, understanding these local tax impacts is essential.

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.