Orleans Parish FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Orleans Parish, Louisiana based on real HMDA transaction records.

Loan Details

US County (Smart Autofill)

Loan Type

Orleans Parish, LA Benchmarks

FHA averages

Typical Property Value$282,707

Average Down Payment10.3%

Average Interest Rate6.385%

Effective Tax Rate0.85%

Median Tax Paid$2,606/yr

Tax Growth (Historical)+4.1%

Based on 907 regional loans totaling $221,755,000 (HMDA database).

Home Price

Down Payment

$29,119 down · $253,588 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$200 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$108 / month

Estimated Monthly Payment

$2,068/mo

Principal & Interest$1,611
Property Tax$200
Home Insurance$150
FHA MIP$108

Amortization · Remaining Balance

Financed Loan Amount

$258,026

Total Interest

$321,787

Total of Payments

$579,812

*Includes financed FHA Upfront MIP of $4,438

Local Market Insights

Orleans Parish FHA Mortgage Overview

In Orleans Parish, an FHA loan with a 10.27% down payment on a $282,707 property offers accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life due to the 89.73% loan-to-value ratio. This is ideal for owner-occupants with sub-620 credit scores seeking an Orleans Parish FHA mortgage with property taxes. The 0.85% effective tax rate, adjusted up 4.1% for inflation, adds roughly $240 annually to true monthly affordability. For precise FHA loan down payment and PMI projections, consider an Orleans Parish FHA loan limits and tax analysis.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.