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Lake Charles

Compare Current Lake Charles, Louisiana Mortgage Rates

Compare Lake Charles, 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 Lake Charles.

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

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Lake Charles, LA Mortgage Rates as of January 19, 2022
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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 Lake Charles, LA Mortgage Rates Compare?

January 19, 2022

Current mortgage rates in Lake Charles, 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
Lake Charles, LA Rates
National
Average
Comparison
30 Year Fixed Rate
%
3.450%
15 Year Fixed Rate
%
2.620%
5/1 Adjustable Rate Mortgage
%
2.570%

How Affordable is Housing in Lake Charles, Louisiana?

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

The median home value for Lake Charles, LA (Calcasieu County) is $182,155

Based on current mortgage rates and a 10% down payment, you need to make $29,845 per year to buy the median priced home in Lake Charles

With this income, you could qualify for a $163,940 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 Lake Charles is $691

The median household income for Lake Charles, LA (Calcasieu County) is $55,390

Based on this income, you can afford a home valued at approximately $338,064

The home price you can afford to buy based on household income in Lake Charles is 186% of the median home value which means housing prices are average. Lake Charles (Calcasieu County) ranks 48 out of 64 counties in Louisiana and 2,033 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Lake Charles, Louisiana

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

Conforming loan limits for Lake Charles, LA

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Lake Charles, LA

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Lake Charles, LA

1 unit: $647,200

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