Compare mortgage rates and fees for leading lenders in Metairie, 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 Metairie.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Metairie. Plus, shopping lenders is free and there is no obligation.
September 29, 2020
The current average rate for a 30 year fixed rate mortgage in Metairie 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Metairie. Understand how much you need to earn to afford a home in Metairie, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Metairie 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 Metairie is right for you.
The median home value for Metairie, LA (Jefferson County) is $202,828
Based on current mortgage rates and a 10% down payment, you need to make $36,504 per year to buy the median priced home in Metairie
With this income, you could qualify for a $182,545 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 Metairie is $845
The median household income for Metairie, LA (Jefferson County) is $53,647
Based on this income, you can afford a home valued at approximately $298,085
The home price you can afford to buy based on household income in Metairie is 147% of the median home value which means housing prices are average. Metairie (Jefferson County) ranks 59 out of 64 counties in Louisiana and 2,566 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Metairie, LA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Metairie (Jefferson County) below.
Conforming loan limits for Metairie, LA
FHA loan limits for Metairie, LA
VA loan limits for Metairie, LA