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Houma

Current Mortgage Rates in Houma, Louisiana

Compare mortgage rates and fees for leading lenders in Houma, 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 Houma.

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

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Mortgage Rates in Houma, LA as of September 30, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Houma, LA Mortgage Rates Compare?

September 30, 2020

The current average rate for a 30 year fixed rate mortgage in Houma 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
Houma, 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 Houma, Louisiana?

Below we provide helpful information on the real estate market, home prices and housing affordability in Houma. Understand how much you need to earn to afford a home in Houma, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Houma 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 Houma is right for you.

The median home value for Houma, LA (Terrebonne County) is $156,383

Based on current mortgage rates and a 10% down payment, you need to make $28,145 per year to buy the median priced home in Houma

With this income, you could qualify for a $140,745 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 Houma is $652

The median household income for Houma, LA (Terrebonne County) is $50,254

Based on this income, you can afford a home valued at approximately $279,227

The home price you can afford to buy based on household income in Houma is 179% of the median home value which means housing prices are average. Houma (Terrebonne County) ranks 47 out of 64 counties in Louisiana and 1,986 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Houma, Louisiana

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

Conforming loan limits for Houma, LA

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

FHA loan limits for Houma, LA

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

VA loan limits for Houma, LA

1 unit: $510,400

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