Can I Afford a $100K Home in Louisiana?
Complete mortgage breakdown for a $100,000 home in Louisiana, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$872/mo
P&I: $526 + Tax: $47 + Insurance: $300
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $1,024 | $43,899 |
| 5% | $5,000 | $1,010 | $43,300 |
| 10% | $10,000 | $975 | $41,803 |
| 20% | $20,000 | $872 | $37,380 |
Monthly Cost Breakdown (Louisiana)
Principal & Interest
$526/mo
Property Tax (0.56%)
$47/mo
Homeowners Insurance
$300/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$37,380/yr
Minimum gross income
36% Rule (All Debt)
$29,074/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in Louisiana
A $100,000 home in Louisiana is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $872 is achievable on a salary of $37,380 or more. Louisiana's property tax rate of 0.56% is relatively low, helping keep costs down.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Louisiana.