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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 7.009%APR 7.052% | 0 pts$0 | $897/moP&I $897 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.104%APR 6.881% | 0 pts$0 | $894/moP&I $831 · MI $63 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.270%APR 6.334% | 0 pts$0 | $831/moP&I $831 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.951%APR 6.995% | 0 pts$0 | $892/moP&I $892 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.736% | 0 pts$0 | $953/moP&I $953 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.270% | 6.334% | 0 pts ($0) | $1,156/mo | $23,750 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.191% | 6.256% | 0 pts ($0) | $1,438/mo | $32,584 |
Condo 10% Down | 10% | 720 credit score | 7.355% | 7.535% | 0 pts ($0) | $1,044/mo | $36,814 |
Conventional 10% Down | 10% | 720 credit score | 6.822% | 6.989% | 0 pts ($0) | $990/mo | $34,379 |
Conventional 20% Down | 20% | 740 credit score | 7.009% | 7.052% | 0 pts ($0) | $897/mo | $27,884 |
Conventional 5% Down | 5% | 700 credit score | 7.118% | 7.606% | 0 pts ($0) | $1,077/mo | $37,716 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.461% | 7.508% | 0 pts ($0) | $1,173/mo | $40,432 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $996/mo | $33,753 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.882% | 7.266% | 0 pts ($0) | $1,073/mo | $38,818 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.951% | 6.995% | 0 pts ($0) | $1,114/mo | $37,843 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,389/mo | $33,120 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.104% | 6.881% | 0 pts ($0) | $1,002/mo | $35,290 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,020/mo | $35,705 |
FHA Streamline Refi | 0% | 640 credit score | 6.298% | 7.079% | 0 pts ($0) | $1,060/mo | $37,569 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.075% | 7.327% | 0 pts ($0) | $1,072/mo | $38,948 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,053/mo | $20,620 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.736% | 0 pts ($0) | $894/mo | $28,487 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $907/mo | $28,355 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $979/mo | $30,013 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.464% | 7.247% | 0 pts ($0) | $1,041/mo | $37,080 |
Second Home 10% Down | 10% | 720 credit score | 6.104% | 6.687% | 0 pts ($0) | $919/mo | $31,105 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $886/mo | $27,376 |
VA 0% Down | 0% | 700 credit score | 6.121% | 6.372% | 0 pts ($0) | $1,044/mo | $34,626 |
VA Cash-Out Refi | 0% | 640 credit score | 6.133% | 6.510% | 0 pts ($0) | $1,046/mo | $34,688 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.128% | 6.287% | 0 pts ($0) | $1,045/mo | $34,662 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $926/mo | $29,305 |
Frequently Asked Questions
What are today's mortgage rates in 70397, , LA across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 70397, , LA is 7.009% (with an estimated monthly payment of $1,120). Active program rates also include FHA 30-year fixed loans at 6.104% and VA 0%-down fixed loans at 6.121%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 70397, , LA?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 70397, , LA have fluctuated between a low of 6.902% and a high of 7.145%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 70397, , LA?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $168,340 in 70397, , LA, a standard 20%-down Conventional loan requires an upfront cash down payment of $33,668 but keeps your monthly payment lower at $1,120/mo (at 7.009% interest) with no monthly PMI. In comparison, an FHA loan requires only $5,892 (3.5% down) but has an estimated payment of $1,252/mo (at 6.104% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $162,448 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 70397 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 70397 is $806,501. With a typical local home value of $168,340 in , a standard 20%-down mortgage requires a loan size of $134,672. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 70397, , LA impact estimated mortgage payments?
The median home value in 70397, , LA is estimated at $168,340. Buying a typical home here with a standard 20% down payment ($33,668) translates to an estimated starting monthly mortgage payment of $1,120 (principal and interest). Compared to the local area median household income of $73,260 ($6,105/mo), this basic housing payment represents approximately 18.4% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.