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Louisiana FHA Home Loans

FHA Mortgage Loan Programs in Louisiana
FHA Loan Requirements - 2023 FHA Loan Limits

Louisiana FHA Loan | Requirements | Loan Limits

Are you willing to buy your dream home in Louisiana but not sure about the finances, FHA loans got your covered. Providing a once in a lifetime opportunity for the first time home buyers in Louisiana, they are backed by The FHA (Federal Housing Administration). The prime objective of this loan system is to help and offer financial aid for the average Americans to help them own their own dream home. FHA loans are very popular in US due to its low down payment options of 3.5% with less strict requirements and low credit score of 500 in comparison to other conventional loans.

Louisiana FHA Loan Requirements

Below mentioned is a list of the basic requirements to qualify for an FHA loan in Louisiana.  If you wish to check your eligibility for an FHA loan, we can help you match with the right lender.  To let FHA lender contact you, request a free consultation.

  • Credit Score– As a borrower, in order to qualify for the 3.5% down payment, your credit score should be 580 credit or higher. Else you need to settle for a down payment of 10% with a credit score range of 500-579.
  • Job History – As a borrower, an employment proof of at least 2 years in consistency is required. However, with changed jobs, a borrower can still qualify with substantial proofs of their consistent employment/income.
  • Financial Statements– As a borrower, you need to submit your two most recent bank statements, your pay stubs, and the tax returns to qualify for the FHA loans in your lender’s eyes.
  • Debt-to-Income– As a borrower, it is very important to hold a debt-to-income ratio lower than 43%.  However, under “compensating factors,” you can also qualify for the FHA loans but only if you hold higher savings in your account, an extraordinary credit score and a consistent and long job history.
  • Primary Residence– As a borrower, the home for which you are applying for the FHA loan should mandatorily be your primary residence and not your investment property, or a second home, or vacation home, else it may lead to cancellation of your application.
  • Mortgage Insurance– As a borrower, it is very important to back your FHA loans, regardless of the lender, with any of the two types of mortgage insurance, mandatory for it. This includes- the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  Use this FHA loan calculator to find an estimate of your monthly payments, soon after the loan is approved and the associated mortgage insurance costs.
  • FHA Loan Limits– As a borrower, make sure to check the FHA loans FHA loan limits for all the counties in Louisiana as given below. Every FHA loan holds its maximum lending limits, based on the county, it falls in.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in Louisiana.  To have an FHA lender contact you, request a free consultation.

2023 Louisiana FHA Loan Limits

Below are the 2023 FHA loan limits for every county in Louisiana:

County Single Family 2 Family 3 Family 4 Family
ACADIA  $472,030  $604,400  $730,525  $907,900
ALLEN  $472,030  $604,400  $730,525  $907,900
ASCENSION  $472,030  $604,400  $730,525  $907,900
ASSUMPTION  $472,030  $604,400  $730,525  $907,900
AVOYELLES  $472,030  $604,400  $730,525  $907,900
BEAUREGARD  $472,030  $604,400  $730,525  $907,900
BIENVILLE  $472,030  $604,400  $730,525  $907,900
BOSSIER  $472,030  $604,400  $730,525  $907,900
CADDO  $472,030  $604,400  $730,525  $907,900
CALCASIEU  $472,030  $604,400  $730,525  $907,900
CALDWELL  $472,030  $604,400  $730,525  $907,900
CAMERON  $472,030  $604,400  $730,525  $907,900
CATAHOULA  $472,030  $604,400  $730,525  $907,900
CLAIBORNE  $472,030  $604,400  $730,525  $907,900
CONCORDIA  $472,030  $604,400  $730,525  $907,900
DE SOTO  $472,030  $604,400  $730,525  $907,900
EAST BATON ROUG  $472,030  $604,400  $730,525  $907,900
EAST CARROLL  $472,030  $604,400  $730,525  $907,900
EAST FELICIANA  $472,030  $604,400  $730,525  $907,900
EVANGELINE  $472,030  $604,400  $730,525  $907,900
FRANKLIN  $472,030  $604,400  $730,525  $907,900
GRANT  $472,030  $604,400  $730,525  $907,900
IBERIA  $472,030  $604,400  $730,525  $907,900
IBERVILLE  $472,030  $604,400  $730,525  $907,900
JACKSON  $472,030  $604,400  $730,525  $907,900
JEFFERSON  $472,030  $604,400  $730,525  $907,900
JEFFERSON DAVIS  $472,030  $604,400  $730,525  $907,900
LAFAYETTE  $472,030  $604,400  $730,525  $907,900
LAFOURCHE  $472,030  $604,400  $730,525  $907,900
LASALLE  $472,030  $604,400  $730,525  $907,900
LINCOLN  $472,030  $604,400  $730,525  $907,900
LIVINGSTON  $472,030  $604,400  $730,525  $907,900
MADISON  $472,030  $604,400  $730,525  $907,900
MOREHOUSE  $472,030  $604,400  $730,525  $907,900
NATCHITOCHES  $472,030  $604,400  $730,525  $907,900
ORLEANS  $472,030  $604,400  $730,525  $907,900
OUACHITA  $472,030  $604,400  $730,525  $907,900
PLAQUEMINES  $472,030  $604,400  $730,525  $907,900
POINTE COUPEE  $472,030  $604,400  $730,525  $907,900
RAPIDES  $472,030  $604,400  $730,525  $907,900
RED RIVER  $472,030  $604,400  $730,525  $907,900
RICHLAND  $472,030  $604,400  $730,525  $907,900
SABINE  $472,030  $604,400  $730,525  $907,900
ST. BERNARD  $472,030  $604,400  $730,525  $907,900
ST. CHARLES  $472,030  $604,400  $730,525  $907,900
ST. HELENA  $472,030  $604,400  $730,525  $907,900
ST. JAMES  $472,030  $604,400  $730,525  $907,900
ST. JOHN THE BA  $472,030  $604,400  $730,525  $907,900
ST. LANDRY  $472,030  $604,400  $730,525  $907,900
ST. MARTIN  $472,030  $604,400  $730,525  $907,900
ST. MARY  $472,030  $604,400  $730,525  $907,900
ST. TAMMANY  $472,030  $604,400  $730,525  $907,900
TANGIPAHOA  $472,030  $604,400  $730,525  $907,900
TENSAS  $472,030  $604,400  $730,525  $907,900
TERREBONNE  $472,030  $604,400  $730,525  $907,900
UNION  $472,030  $604,400  $730,525  $907,900
VERMILION  $472,030  $604,400  $730,525  $907,900
VERNON  $472,030  $604,400  $730,525  $907,900
WASHINGTON  $472,030  $604,400  $730,525  $907,900
WEBSTER  $472,030  $604,400  $730,525  $907,900
WEST BATON ROUG  $472,030  $604,400  $730,525  $907,900
WEST CARROLL  $472,030  $604,400  $730,525  $907,900
WEST FELICIANA  $472,030  $604,400  $730,525  $907,900
WINN  $472,030  $604,400  $730,525  $907,900

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