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Get a home loan with Louisiana FCU.

HOME LOANS IN LOUISIANA

APPLY FOR YOUR MORTGAGE.
GET A HOME LOAN ESTIMATE.
Have a question? Request a call back.

Or you can call us at (985) 652-4990.

BUY YOUR HOUSE. NOT A HEADACHE.

Getting a loan to buy your home can feel overwhelming. But it doesn't have to be that way.
Receive expert guidance from our mortgage representatives.

EXPERT GUIDANCE

Buying a home can be confusing regardless if this is your first or fifth house purchase. A Mortgage Representative will help guide you through the process.

We now offer a First-time Home buyer loan.

FIRST-TIME HOME BUYERS

You can get a mortgage with a low down payment of just 5% or 3% for FHA and Home Ready loans. Pay even less upfront with low down payments of 3% with no Private Mortgage Insurance (PMI), helping you save even more money each month.

Fast Financing

FAST FINANCING

We’ll help you close on your loan quickly, so you can get moved into your new home in no time. 

FOUR SIMPLE STEPS TO HELP YOU GET THERE.

OUR TRUSTED HOME LOAN ADVISORS PROMISE TO MAKE BUYING YOUR HOUSE QUICK AND EASY.
Compare Rates

1.COMPARE

We'll help you compare mortgage rates and payment terms to find the best one for you.

Calculate the cost

2.CALCULATE

Run the numbers and calculate your monthly mortgage payment.

Prepare your information.

3. PREPARE

We'll help you get financially prepared and make things easy for you.

Apply for your home loan.

4. APPLY

Get pre-approved for your mortgage and confidently negotiate with sellers.

"They educated us on what we needed to know and we discovered it is easy once we got everything organized. Anytime we had any questions, help was a phone call away. After that, our biggest battle was moving in!"

 
- JONATHAN L. MEMBER SINCE 1998 

STEP 1: COMPARE MORTGAGE RATES.

Rates effective as of 11:35 A.M. CT, January 2, 2019

Rates subject to change without notice.

10 Year Fixed Rate
AS LOW AS
4.375%

APR: 4.876%

POINTS: 1.000%

 

What's the APR?

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $120,000 and an estimated property value of $150,000. The property is located in LaPlace, LA and is within St. John the Baptist county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 30 days and the assumed credit score is 740.

At a 4.625% interest rate, the APR for this loan type is 5.241%. The monthly payment schedule would be:

  • 119 payments of $ $1,563.63 at an interest rate of 4.625%
  • 1 payment of $$1,563.67 at an interest rate of 4.625%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

15 Year Fixed Rate
AS LOW AS
4.375%

APR: 4.635%

POINTS: 1.000%

 

What's the APR?

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $120,000 and an estimated property value of $150,000. The property is located in LaPlace, LA and is within St. John the Baptist county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 30 days and the assumed credit score is 740.

At a 4.750% interest rate, the APR for this loan type is 5.233%. The monthly payment schedule would be:

  • 179 payments of $1,166.75 at an interest rate of 4.750%
  • 1 payment of $1,166.37 at an interest rate of 4.750%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

20 Year Fixed Rate
AS LOW AS
4.625%

APR: 4.831%

POINTS: 1.000%

 

What's the APR?

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $120,000 and an estimated property value of $150,000. The property is located in LaPlace, LA and is within St. John the Baptist county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 30 days and the assumed credit score is 740.

At a 5.000% interest rate, the APR for this loan type is 5.426%. The monthly payment schedule would be:

  • 239 payments of$989.93 at an interest rate of 5.000%
  • 1 payment of $990.77 at an interest rate of 5.000%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

30 Year Fixed Rate
AS LOW AS
4.750%

APR: 4.949%

POINTS: 1.000%

 

What's the APR?

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $120,000 and an estimated property value of $150,000. The property is located in LaPlace, LA and is within St. John the Baptist county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 30 days and the assumed credit score is 740.

At a 5.125% interest rate, the APR for this loan type is 5.644%. The monthly payment schedule would be:

  • 359 payments of $816.73 at an interest rate of 5.125%
  • 1 payment of $816.89 at an interest rate of 5.125%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Which home loan option is best for you?

A shorter term mortgage is recommended if you want to pay less in interest. This will help save you more money.

But if lower monthly payments are more important, a longer term mortgage might be better for you.

Not sure which option is right for you? We'll call you back.

STEP 2: CALCULATE YOUR MORTGAGE PAYMENT.

Calculate your monthly mortgage payment using the rates and terms above as a guide. It is helpful to remember the rate you may qualify for could be different depending on a variety of factors, including the term and your credit score.

ESTIMATE YOUR MONTHLY PAYMENT.

STEP 3: HOW TO GET PREPARED TO BUY YOUR HOME.

Taking time to get financially prepared before applying for your mortgage will help you get there.
CHECK YOUR CREDIT SCORE

CHECK YOUR CREDIT SCORE

Your credit score is a number between 300 to 850 and it is based upon your spending, payment, and credit history. The higher your credit score is, the easier it can be to get approved for your mortgage.

How to get prepared: We recommend you know what your credit score is before applying for your mortgage using the annual free credit report.

ENSURE JOB STABILITY

ENSURE JOB STABILITY

While we don't have any specific rules for judging employment history, it is helpful when we see you have a pattern of proven income from employment stability.

 

How to get prepared: We recommend you apply for your mortgage when you have been employed at your current job or working in the same field for at least two years with no employment gaps. Don't worry if it is less than that as we look at your entire employment history during the mortgage approval process.

SAVE FOR A DOWN PAYMENT

SAVE FOR A DOWN PAYMENT

At Louisiana FCU, you can get a mortgage with a low down payment of just 5%. First time home buyers pay even less up-front with low down payments of 3% with no Private Mortgage Insurance (PMI) helping you save even more money each month.

How to get prepared: Taking time to save for the largest possible down payment you can make will help you save you thousands of dollars in the long run.

REVIEW DEBT-TO-INCOME RATIO

REVIEW DEBT-TO-INCOME RATIO

Your debt-to-income (DTI) ratio is calculated from how much of your total monthly income (before taxes are taken out) goes towards paying off your debt. This helps us to understand what percentage of your income will go towards your home loan. 


How to get prepared:
Your new mortgage payment (including taxes & insurance) and all other monthly debts (credit card payments, car loan payments, student loan payments, etc.) should not exceed 41% of your gross monthly income.

STILL HAVE QUESTIONS ABOUT GETTING A HOME LOAN TO BUY YOUR HOUSE?

REQUEST A CALL BACK.
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STEP 4: APPLY FOR YOUR MORTGAGE.

Get pre-approved to confidently shop, negotiate with sellers, and buy the house you want. Our trusted home loan advisors will help you get there. 

APPLY NOW IN LESS THAN 10-MINUTES.

GET ANSWERS TO FREQUENTLY ASKED QUESTIONS ABOUT BUYING A HOME.

Can I apply for a mortgage before I find a house to purchase?

Yes, applying for a mortgage loan before you find a home may be the best thing you could do! If you apply for your mortgage now, we'll issue a pre-approval, based on the information you provide, subject to you finding the perfect home.

The more accurate you are with your information, the more valid your pre-approval will be. We'll issue a pre-approval letter online instantly. You can use the pre-approval letter to assure real estate brokers and sellers that you are a qualified buyer. Having a pre-approval for a mortgage may give more weight to any offer to purchase that you make.

Is comparing APRs the best way to decide which lender has the lowest rates and fees?

The Federal Truth in Lending law requires that all financial institutions disclose the APR when they advertise a rate. The APR is designed to present the actual cost of obtaining financing, by requiring that some, but not all, closing fees are included in the APR calculation. These fees in addition to the interest rate determine the estimated cost of financing over the full term of the loan. Since most people do not keep the mortgage for the entire loan term, it may be misleading to spread the effect of some of these up front costs over the entire loan term.

Also, unfortunately, the APR doesn't include all the closing fees and lenders are allowed to interpret which fees they include. Fees for things like appraisals, title work, and document preparation are not included even though you'll probably have to pay them.

For adjustable rate mortgages, the APR can be even more confusing. Since no one knows exactly what market conditions will be in the future, assumptions must be made regarding future rate adjustments.

You can use the APR as a guideline to shop for loans but you should not depend solely on the APR in choosing the loan program that's best for you. Look at total fees, possible rate adjustments in the future if you're comparing adjustable rate mortgages, and consider the length of time that you plan on having the mortgage.
Don't forget that the APR is an effective interest rate--not the actual interest rate. Your monthly payments will be based on the actual interest rate, the amount you borrow, and the term of your loan.

Should I pay points in exchange for a lower interest rate?

Points are considered a form of interest. Each point is equal to one percent of the loan amount. You pay them, up front, at your loan closing in exchange for a lower interest rate over the life of your loan. This means more money will be required at closing, however, you will have lower monthly payments over the term of your loan.

What are closing fees and how are they determined?

A home loan often involves many fees, such as the appraisal fee, title charges, closing fees, and state or local taxes. These fees vary from state to state and also from lender to lender. Any lender or broker should be able to give you an estimate of their fees, but it is more difficult to tell which lenders have done their homework and are providing a complete and accurate estimate. We take quotes very seriously. We've completed the research necessary to make sure that our fee quotes are accurate to the city level - and that is no easy task!

To assist you in evaluating our fees, we've grouped them as follows:

Third Party Fees
Fees that we consider third party fees include the appraisal fee, the credit report fee, the settlement or closing fee, the survey fee, tax service fees, title insurance fees, flood certification fees, and courier/mailing fees.

Third party fees are fees that we'll collect and pass on to the person who actually performed the service. For example, an appraiser is paid the appraisal fee, a credit bureau is paid the credit report fee, and a title company or an attorney is paid the title insurance fees.

Typically, you'll see some minor variances in third party fees from lender to lender since a lender may have negotiated a special charge from a provider they use often or chooses a provider that offers nationwide coverage at a flat rate. You may also see that some lenders absorb minor third party fees such as the flood certification fee, the tax service fee, or courier/mailing fees.

Taxes and other unavoidables
Fees that we consider to be taxes and other unavoidables include: State/Local Taxes and recording fees. These fees will most likely have to be paid regardless of the lender you choose. If some lenders don't quote you fees that include taxes and other unavoidable fees, don't assume that you won't have to pay it. It probably means that the lender who doesn't tell you about the fee hasn't done the research necessary to provide accurate closing costs.

Lender Fees
Fees such as points, administration fees, document preparation fees, and loan processing fees are retained by the lender and are used to provide you with the lowest rates possible.

This is the category of fees that you should compare very closely from lender to lender before making a decision.

Required Advances
You may be asked to prepay some items at closing that will actually be due in the future. These fees are sometimes referred to as prepaid items.
One of the more common required advances is called "per diem interest" or "interest due at closing." All of our mortgages have payment due dates of the 1st of the month. If your loan is funded on any day other than the first of the month, you'll pay interest, from the date of funding through the end of the month, at closing. For example, if the loan is closed on June 15, we'll collect interest from June 15 through June 30 at closing. This also means that you won't make your first mortgage payment until August 1. This type of charge should not vary from lender to lender, and does not need to be considered when comparing lenders. All lenders will charge you interest beginning on the day the loan funds are disbursed. It is simply a matter of when it will be collected.

If an escrow or impound account will be established, you will make an initial deposit into the escrow account at closing so that sufficient funds are available to pay the bills when they become due.
If your loan requires mortgage insurance, mortgage insurance payments may be collected at closing. Whether or not you must purchase mortgage insurance depends on the percentage of the down payment you make.

If your loan is a purchase, you'll also need to pay for your first year's homeowner's insurance premium, flood and wind if applicable, prior to closing. The policies must be purchased and paid in full prior to closing and we consider this to be a required advance.

How do I know if it's best to lock in my interest rate or to let it float?

Mortgage interest rate movements are as hard to predict as the stock market and no one can really know for certain whether they'll go up or down.

If you have a hunch that rates are on an upward trend then you'll want to consider locking the rate as soon as you are able. Before you decide to lock, make sure that your loan can close within the lock in period. It won't do any good to lock your rate if you can't close during the rate lock period. If you're purchasing a home, review your contract for the estimated closing date to help you choose the right rate lock period. If you are refinancing, in most cases, your loan could close within 30 days. However, if you have any secondary financing on the home that won't be paid off, allow some extra time since we'll need to contact that lender to get their permission.

* APR = Annual Percentage Rate. The interest rates, annual percentage rates (APRs), points and rebates shown are subject to change without notice. The points reflected above are Discount Points paid to lower your rate. Louisiana FCU may also charge origination fees. The actual interest rate, points, and annual percentage rate offered may differ depending on your credit qualifications, credit scores, loan to value ratio, type of property and transaction type, as many factors apply to mortgage loan financing. Rates and points will not be locked until a complete application with all the required supporting documents have been provided and a review of the file has been completed. Rates can be locked for 45 days. Maximum conforming loan amount is $417,000. Jumbo loans may be available for loans amounts above $417,000. Financing is available for second homes, condominiums, and investment properties. Some restrictions may apply.