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Baton Rouge

Current Mortgage Rates in Baton Rouge, Louisiana

Compare mortgage rates and fees for leading lenders in Baton Rouge, LA. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Baton Rouge.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Baton Rouge. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Baton Rouge, LA as of January 23, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Baton Rouge, LA Mortgage Rates Compare?

January 23, 2020

The current average rate for a 30 year fixed rate mortgage in Baton Rouge is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Baton Rouge, LA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Baton Rouge, Louisiana?

Below we provide helpful information on the real estate market, home prices and housing affordability in Baton Rouge. Understand how much you need to earn to afford a home in Baton Rouge, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Baton Rouge fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Baton Rouge is right for you.

The median home value for Baton Rouge, LA (East Baton Rouge County) is $205,601

Based on current mortgage rates and a 10% down payment, you need to make $37,003 per year to buy the median priced home in Baton Rouge

With this income, you could qualify for a $185,041 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Baton Rouge is $857

The median household income for Baton Rouge, LA (East Baton Rouge County) is $54,247

Based on this income, you can afford a home valued at approximately $301,413

The home price you can afford to buy based on household income in Baton Rouge is 147% of the median home value which means housing prices are average. Baton Rouge (East Baton Rouge County) ranks 60 out of 64 counties in Louisiana and 2,573 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Baton Rouge, LA is average

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Loan Limits for Baton Rouge, Louisiana

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Baton Rouge (East Baton Rouge County) below.

Conforming loan limits for Baton Rouge, LA

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Baton Rouge, LA

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Baton Rouge, LA

1 unit: $510,400

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