»
»
Lafayette

Compare Current Lafayette, Louisiana Mortgage Rates

Compare Lafayette, LA mortgage rates and fees from top lenders. 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 lowest mortgage rates in Lafayette.

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

%
Lafayette, LA Mortgage Rates as of May 25, 2024
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees & Points
  • Contact

%
Get Personalized Mortgage Quotes

Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

Get Free Personalized Mortgage Quotes

Compare Today's Lafayette, LA Mortgage Rates

May 25, 2024

Current mortgage rates in Lafayette, LA are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Lafayette, LA Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Lafayette, Louisiana?

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

The median home value for Lafayette, LA is $227,489

Based on current mortgage rates and a 10% down payment, you need to make $47,458 per year to buy the median priced home in Lafayette

With this income, you could qualify for a $204,740 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 Lafayette is $1,099

The median household income for Lafayette, LA is $59,956

Based on this income, you can afford a home valued at approximately $287,397

The home price you can afford to buy based on household income in Lafayette is 126% of the median home value which means housing prices are average. Lafayette ranks 52 out of 64 counties in Louisiana and 2,397 out of 3,142 counties in the United States for housing affordability.

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

orange-simple-house
ruler

Loan Limits for Lafayette, Louisiana

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Lafayette below.

Conforming loan limits for Lafayette, LA

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Lafayette, LA

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Lafayette, LA

1 unit: $726,200

Additional Mortgage Resources for Lafayette, LA Residents

Mortgage Rates for Louisiana Cities

Alexandria Mortgage Rates

Ascension Mortgage Rates

Baton Rouge Mortgage Rates

Bossier City Mortgage Rates

Hammond Mortgage Rates

Houma Mortgage Rates

Lafayette Mortgage Rates

Lake Charles Mortgage Rates

Livingston Mortgage Rates

Metairie Mortgage Rates

Monroe Mortgage Rates

New Orleans Mortgage Rates

Shreveport Mortgage Rates

St. Tammany Mortgage Rates

Thibodaux Mortgage Rates