Louisiana Mortgage Calculator
Estimate your monthly mortgage payment in Louisiana with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in Louisiana is $250,000 with an effective property tax rate of 0.55%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
Optional
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $15,169.68 | $2,235.50 | $12,934.18 | $197,764.50 |
| 1 | $1,264.14 | $180.81 | $1,083.33 | $199,819.19 |
| 2 | $1,264.14 | $181.79 | $1,082.35 | $199,637.40 |
| 3 | $1,264.14 | $182.77 | $1,081.37 | $199,454.63 |
| 4 | $1,264.14 | $183.76 | $1,080.38 | $199,270.87 |
| 5 | $1,264.14 | $184.76 | $1,079.38 | $199,086.11 |
| 6 | $1,264.14 | $185.76 | $1,078.38 | $198,900.35 |
| 7 | $1,264.14 | $186.76 | $1,077.38 | $198,713.59 |
| 8 | $1,264.14 | $187.77 | $1,076.37 | $198,525.82 |
| 9 | $1,264.14 | $188.79 | $1,075.35 | $198,337.03 |
| 10 | $1,264.14 | $189.81 | $1,074.33 | $198,147.22 |
| 11 | $1,264.14 | $190.84 | $1,073.30 | $197,956.38 |
| 12 | $1,264.14 | $191.88 | $1,072.26 | $197,764.50 |
Year 2 | $15,169.68 | $2,385.23 | $12,784.45 | $195,379.27 |
Year 3 | $15,169.68 | $2,544.97 | $12,624.71 | $192,834.30 |
Year 4 | $15,169.68 | $2,715.40 | $12,454.28 | $190,118.90 |
Year 5 | $15,169.68 | $2,897.26 | $12,272.42 | $187,221.64 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
Louisiana Housing Snapshot
| Median Home Value | $250,000 |
| Effective Property Tax Rate | 0.55% |
| Estimated Annual Property Tax | $1,375 |
| State Income Tax | Up to 4.25% |
| Homestead Exemption | $75,000 of fair market value ($7,500 assessed) |
| Avg Homeowners Insurance | $2,540/yr |
| Transfer & Recording Taxes | No state real estate transfer tax |
What Makes Buying in Louisiana Different
Louisiana has one of the lowest effective property tax rates in the US at 0.55%, paired with a generous homestead exemption that removes $75,000 of fair market value ($7,500 of assessed value at the 10% residential assessment ratio) from the primary residence tax base. For many median-priced homes, this exemption eliminates property tax to schools entirely, with bills consisting only of city and parish levies. The insurance situation is the opposite story. Louisiana is one of the most expensive states for homeowners insurance at $2,540 per year, and Gulf coastal parishes (Plaquemines, St. Bernard, Cameron) often see annual premiums exceeding $6,000. Hurricane Ida and Hurricane Laura caused massive market disruption, with multiple major carriers withdrawing or going insolvent. Louisiana Citizens Property Insurance Corporation, the state-run insurer of last resort, has become the largest writer in some coastal parishes. State income tax is moderate at 4.25% top rate. The unique three-tier civil code property regime (versus common law in other states) affects title work and inheritance but not standard purchase financing.
Top Cities in Louisiana
| City | Median Home Value |
|---|---|
| New Orleans | $285,000 |
| Baton Rouge | $225,000 |
| Shreveport | $175,000 |
| Lafayette | $235,000 |
| Lake Charles | $185,000 |
Louisiana provides a $75,000 homestead exemption on fair market value ($7,500 on assessed value, since Louisiana assesses residential at 10% of market). For homes below $75,000 market value, this can eliminate property tax to school districts entirely. The exemption applies only to the primary residence and you must file the application with your parish assessor.
Louisiana averages $2,540 per year for homeowners insurance, third highest in the US after Florida and Oklahoma. Hurricane exposure (especially southeastern Louisiana parishes), flooding, and a string of major storms (Katrina, Ida, Laura) have caused multiple carrier insolvencies and exits. Louisiana Citizens, the state-backed insurer of last resort, covers many coastal homes at significantly higher premiums.
Louisiana is the only US state using a civil law system (derived from Napoleonic code) rather than common law. This affects how title is held, marital property classification (community property by default), and inheritance rules. For standard mortgage financing, the difference is mostly handled by Louisiana-licensed title companies and notaries. Always use a Louisiana attorney or title company familiar with civil code for real estate transactions.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.