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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 | 7.059%APR 7.101% | 0 pts$0 | $646/moP&I $646 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.079%APR 6.854% | 0 pts$0 | $639/moP&I $594 · MI $45 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.307%APR 6.367% | 0 pts$0 | $598/moP&I $598 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.062%APR 7.104% | 0 pts$0 | $646/moP&I $646 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.697% | 0 pts$0 | $683/moP&I $683 · 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 | 6.307% | 6.367% | 0 pts ($0) | $830/mo | $17,120 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.245% | 6.305% | 0 pts ($0) | $1,034/mo | $23,535 |
Condo 10% Down | 10% | 720 credit score | 7.274% | 7.450% | 0 pts ($0) | $742/mo | $26,111 |
Conventional 10% Down | 10% | 720 credit score | 6.853% | 7.018% | 0 pts ($0) | $712/mo | $24,734 |
Conventional 20% Down | 20% | 740 credit score | 7.059% | 7.101% | 0 pts ($0) | $646/mo | $20,124 |
Conventional 5% Down | 5% | 700 credit score | 7.250% | 7.742% | 0 pts ($0) | $782/mo | $27,479 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.497% | 7.542% | 0 pts ($0) | $843/mo | $29,100 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $714/mo | $24,184 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.856% | 7.237% | 0 pts ($0) | $767/mo | $27,721 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.062% | 7.104% | 0 pts ($0) | $807/mo | $27,518 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $995/mo | $23,730 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.079% | 6.854% | 0 pts ($0) | $716/mo | $25,196 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $731/mo | $25,583 |
FHA Streamline Refi | 0% | 640 credit score | 6.274% | 7.052% | 0 pts ($0) | $758/mo | $26,830 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.185% | 7.437% | 0 pts ($0) | $777/mo | $28,286 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $755/mo | $14,774 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.697% | 0 pts ($0) | $640/mo | $20,411 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $650/mo | $20,316 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $701/mo | $21,504 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.443% | 7.224% | 0 pts ($0) | $744/mo | $26,493 |
Second Home 10% Down | 10% | 720 credit score | 6.089% | 6.669% | 0 pts ($0) | $657/mo | $22,237 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $634/mo | $19,615 |
VA 0% Down | 0% | 700 credit score | 6.092% | 6.340% | 0 pts ($0) | $746/mo | $24,702 |
VA Cash-Out Refi | 0% | 640 credit score | 6.105% | 6.479% | 0 pts ($0) | $747/mo | $24,750 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.115% | 6.272% | 0 pts ($0) | $748/mo | $24,787 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $664/mo | $20,997 |
Frequently Asked Questions
What are today's mortgage rates in 71243, , LA across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 71243, , LA is 7.059% (with an estimated monthly payment of $1,372). Active program rates also include FHA 30-year fixed loans at 6.079% and VA 0%-down fixed loans at 6.092%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 71243, , 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 71243, , LA have fluctuated between a low of 6.939% and a high of 7.201%. 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 71243, , LA?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $120,614 in 71243, , LA, a standard 20%-down Conventional loan requires an upfront cash down payment of $24,123 but keeps your monthly payment lower at $1,372/mo (at 7.059% interest) with no monthly PMI. In comparison, an FHA loan requires only $4,221 (3.5% down) but has an estimated payment of $1,521/mo (at 6.079% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $116,393 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 71243 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 71243 is $806,501. With a typical local home value of $120,614 in , a standard 20%-down mortgage requires a loan size of $96,491. 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 71243, , LA impact estimated mortgage payments?
The median home value in 71243, , LA is estimated at $120,614. Buying a typical home here with a standard 20% down payment ($24,123) translates to an estimated starting monthly mortgage payment of $1,372 (principal and interest). Compared to the local area median household income of $54,294 ($4,525/mo), this basic housing payment represents approximately 30.3% 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.