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.
December 14, 2019
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%
The median home value for Baton Rouge, LA (East Baton Rouge County) is $199,613
The median household income for Baton Rouge, LA (East Baton Rouge County) is $53,008
Based on current mortgage rates and a 10% down payment, you need to make $37,034 per year to buy the median priced home in Baton Rouge
The home price you can afford to buy based on household income in Baton Rouge is 143% of the median home value which means housing prices are average
Baton Rouge (East Baton Rouge County) ranks 59 out of 64 counties in Louisiana and 2,629 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
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
FHA loan limits for Baton Rouge, LA
VA loan limits for Baton Rouge, LA
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index