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St. Mary Parish FHA Loan Calculator

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

Loan Details

St. Mary Parish, LA Benchmarks

FHA averages
Typical Property Value$183,545
Average Down Payment8.8%
Average Interest Rate6.494%
Effective Tax Rate0.38%
Median Tax Paid$545/yr
Tax Growth (Historical)+2.7%
Based on 110 regional loans totaling $18,190,000 (HMDA database).
$
%

$16,152 down · $167,393 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$58 / month

$

Annual premium

$

Per month

%

$71 / month

Estimated Monthly Payment

$1,355/mo

  • Principal & Interest$1,075
  • Property Tax$58
  • Home Insurance$150
  • FHA MIP$71
Amortization · Remaining Balance

Financed Loan Amount

$170,322

Total Interest

$216,834

Total of Payments

$387,156

*Includes financed FHA Upfront MIP of $2,929

Local Market Insights

St. Mary Parish FHA Mortgage Overview

St. Mary Parish FHA buyers benefit from the 8.81% down payment, requiring just over $16,000 on an average $183,545 home. This low barrier to entry, paired with the 91.19% LTV, makes this loan accessible for first-time buyers or those with sub-620 credit. However, mandatory MIP applies for the loan’s life. A low 0.38% property tax rate keeps monthly costs manageable, even with the recent 2.7% inflation-adjusted increase. For an FHA mortgage with PMI and taxes in St. Mary Parish, LA, this data confirms stable, owner-occupied affordability despite the 6.494% rate.

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.