FHA Loan Limits in Louisiana
Home loans from the Federal Housing Administration (FHA) may make buying a home easier for more borrowers since have lower credit score requirements. To qualify for an FHA loan in Louisiana, the maximum amount you can borrow for a single-family home is $472,030.
Louisiana FHA loan limits by county
| County name | One unit | Two unit | Three unit | Four unit | Median sale price |
|---|---|---|---|---|---|
| ACADIA | $472,030 | $604,400 | $730,525 | $907,900 | $222,000 |
| ALLEN | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| ASCENSION | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| ASSUMPTION | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| AVOYELLES | $472,030 | $604,400 | $730,525 | $907,900 | $81,000 |
| BEAUREGARD | $472,030 | $604,400 | $730,525 | $907,900 | $143,000 |
| BIENVILLE | $472,030 | $604,400 | $730,525 | $907,900 | $80,000 |
| BOSSIER | $472,030 | $604,400 | $730,525 | $907,900 | $215,000 |
| CADDO | $472,030 | $604,400 | $730,525 | $907,900 | $215,000 |
| CALCASIEU | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| CALDWELL | $472,030 | $604,400 | $730,525 | $907,900 | $96,000 |
| CAMERON | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| CATAHOULA | $472,030 | $604,400 | $730,525 | $907,900 | $109,000 |
| CLAIBORNE | $472,030 | $604,400 | $730,525 | $907,900 | $71,000 |
| CONCORDIA | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| DE SOTO | $472,030 | $604,400 | $730,525 | $907,900 | $215,000 |
| EAST BATON ROUG | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| EAST CARROLL | $472,030 | $604,400 | $730,525 | $907,900 | $84,000 |
| EAST FELICIANA | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| EVANGELINE | $472,030 | $604,400 | $730,525 | $907,900 | $45,000 |
| FRANKLIN | $472,030 | $604,400 | $730,525 | $907,900 | $88,000 |
| GRANT | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| IBERIA | $472,030 | $604,400 | $730,525 | $907,900 | $222,000 |
| IBERVILLE | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| JACKSON | $472,030 | $604,400 | $730,525 | $907,900 | $69,000 |
| JEFFERSON | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| JEFFERSON DAVIS | $472,030 | $604,400 | $730,525 | $907,900 | $101,000 |
| LAFAYETTE | $472,030 | $604,400 | $730,525 | $907,900 | $222,000 |
| LAFOURCHE | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| LASALLE | $472,030 | $604,400 | $730,525 | $907,900 | $304,000 |
| LINCOLN | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| LIVINGSTON | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| MADISON | $472,030 | $604,400 | $730,525 | $907,900 | $35,000 |
| MOREHOUSE | $472,030 | $604,400 | $730,525 | $907,900 | $175,000 |
| NATCHITOCHES | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| ORLEANS | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| OUACHITA | $472,030 | $604,400 | $730,525 | $907,900 | $175,000 |
| PLAQUEMINES | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| POINTE COUPEE | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| RAPIDES | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| RED RIVER | $472,030 | $604,400 | $730,525 | $907,900 | $80,000 |
| RICHLAND | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| SABINE | $472,030 | $604,400 | $730,525 | $907,900 | $108,000 |
| ST. BERNARD | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| ST. CHARLES | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| ST. HELENA | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| ST. JAMES | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| ST. JOHN THE BA | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| ST. LANDRY | $472,030 | $604,400 | $730,525 | $907,900 | $106,000 |
| ST. MARTIN | $472,030 | $604,400 | $730,525 | $907,900 | $222,000 |
| ST. MARY | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| ST. TAMMANY | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| TANGIPAHOA | $472,030 | $604,400 | $730,525 | $907,900 | $199,000 |
| TENSAS | $472,030 | $604,400 | $730,525 | $907,900 | $95,000 |
| TERREBONNE | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| UNION | $472,030 | $604,400 | $730,525 | $907,900 | $175,000 |
| VERMILION | $472,030 | $604,400 | $730,525 | $907,900 | $222,000 |
| VERNON | $472,030 | $604,400 | $730,525 | $907,900 | $160,000 |
| WASHINGTON | $472,030 | $604,400 | $730,525 | $907,900 | $75,000 |
| WEBSTER | $472,030 | $604,400 | $730,525 | $907,900 | $104,000 |
| WEST BATON ROUG | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| WEST CARROLL | $472,030 | $604,400 | $730,525 | $907,900 | $104,000 |
| WEST FELICIANA | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| WINN | $472,030 | $604,400 | $730,525 | $907,900 | $93,000 |
How are FHA loan limits determined?
To determine FHA loan limits for the year, the U.S. Department of Housing and Urban Development (HUD) uses a percentage of the conforming loan limits set by the Federal Housing Finance Agency (FHFA) each year. The single-family conforming loan limit rose to $726,200, and this limit is the benchmark for setting FHA loan limits.
The lowest limit is set at 65% of the conforming loan limit, which is $472,030 for a one-unit home. If home prices are higher than the “floor” limit, the maximum loan limit, or “ceiling,” is set at 150% of the conforming loan limit and applied to high-cost parts of the country. The “ceiling” for FHA loans is $1,089,300. One note: There are no high-cost counties in the state of Louisiana.
How to qualify for an FHA loan in Louisiana
Louisiana homebuyers may find it easier to qualify for an FHA loan if they have credit scores below 620 (which is the conventional loan minimum credit score). And you probably won’t have to worry about borrowing above the Louisiana FHA loan limit of $472,030; the most expensive median prices in Louisiana counties topped out at $283,000 last year.
You’ll need to meet these FHA loan requirements to have a shot at an FHA loan approval:
Down payment and credit scores: With a credit score of at least 580, you qualify for a 3.5% down payment FHA loan. If you can come up with a 10% down payment, the score minimum is 500.
Debt-to-income (DTI) ratio: The FHA prefers that your total debt including your new FHA mortgage makes up no more than 43% of your income. More commonly known as your DTI ratio, exceptions may be possible with extra cash reserves and high credit scores.
Mortgage insurance: FHA loans require two types of mortgage insurance. The first is an upfront mortgage insurance premium equal to 1.75% of your loan amount and is usually added to your total loan. The second type is an annual mortgage insurance premium that ranges from 0.45% to 1.05%.
Occupancy: You must live in the home you buy with an FHA loan for at least a year after purchase.
FHA appraisal: If you purchase a home with an FHA loan, you’ll need an FHA appraisal to estimate the home’s value and check its condition.
Buying a multifamily property with an FHA loan
You can purchase a multifamily home with up to four units — as long as one unit serves as your primary residence for a minimum of one year after you buy the home. You can purchase a multifamily home with just 3.5% down, and you may be able to use the rental income on the other units to help you qualify.
An added bonus: FHA loan limits are higher with each additional unit you purchase:
| Number of units | Maximum low-cost FHA loan limit in 2023 |
|---|---|
| Two | $604,400 |
| Three | $730,525 |
| Four | $907,900 |
FHA lenders in Louisiana
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Guild Mortgage | 3 stars | 540 |
| Fairway Independent Mortgage | 3 stars | 580 |
| Truist Mortgage | 4 stars | 580 |
| PennyMac Mortgage | 5 stars | 580 |
| Caliber Home Loans | 3 stars | 620 |