New Orleans Home Loan Rates

Those who are planning on acquiring a home loan in New Orleans must find out the prevailing rates, and consider their options as to the available mortgage lenders.

Acquiring a house that you can proudly call your own is very gratifying. However, this requires considerable planning, research, determination and financial resources. You may not be able to accomplish this personal goal without sufficient funds. One of your options is to obtain New Orleans home loans. The home mortgage is a secured loan offered by banks or other private lending facilities with another property as security. This gives the lender conditional ownership over the property. The bank can sell the home if the borrower fails to pay back his or her financial obligation.

If you are looking for loans in New Orleans, it is important to find out the prevailing rates. The figures and percentage of interests differ from those in other states. You need to compare and find out the costs that will fit into your budget. There is a mortgage directory that you can check out to see numerous rates and lenders offering home loans. At the same time, you can get the last information and daily update on these rates. The key is to determine the loan that you can afford before asking for the requirements. The home loans calculator can assist you in computing the monthly payment for your mortgage. You can get this by using the loan amount and loan rate. Another instrument is the home affordability calculator. This tool can calculate the maximum rate you can afford based on the loan amount together with the down payment.

The following are some of the best home loan rates in New Orleans:

Lender

Contact Numbers

Product Rate Points

APR

Product Rate Points

APR

Product Rate Points

APR

Product Rate Points

APR

Action Mortgage Lending866-650-2039 30 yearsFixed 15 yearsFixed 30 yearsJumbo refinanced 5/1 ARM refinanced
Advanced MortgageInvestment Company

877-292-9560

30 yearsFixed

3.250

0.000

3.360

15 yearsFixed

2.625

0.000

2.470

20 yearsFixed

3.125

0.000

3.360

30 yearsFHA

3.250

0.000

3.360

CoastlandFCU 30 yearsFixed

3.250

0.000

3.366

30 yearsFixed

3.375

0.000

3.412

15 yearsFixed

2.750

1.000

2.955

30 yearsJumbo

3.875

1.000

3.980

Fifth DistrictSavings Bank

866-483-2415

30 yearsFixed

Call

15 yearsFixed

Call

Call Call
Mutual SavingsAnd Loan

Association

30 yearsFixed

Call

15 yearsFixed

Call

Premier LendingLLC

866-831-6642

30 yearsFixed

Call

15 yearsFixed

Call

30 years FHACall 30 years JumboCall
StarlingFinancial Services

LLC

866-602-6229

30 yearsFixed

Call

15 yearsFixed

Call

30 years FHACall 30 years JumboCall
Whitney Bank866-473-5608 30 yearsFixed

Call

15 yearsFixed

Call

30 years FHACall 30 years JumboCall

 

There is also a is a quasi-governmental entity called the Finance Authority of New Orleans which was established to help citizens acquire the lowest home loan interest rate for buying real estate. It is meant for both first-time and repeat home buyers belonging to all family income levels. Its bond loan program offers interest rates of 3.50% for FHA and VA loans and 3.75% for traditional loans. You can opt to give a down payment or closing cost assistance of 3.25% for the first category. Another choice is the 3.50% for standard loans minus the closing cost assistance.