Opelousas FHA Loan Rates, Closing Costs & Stats

Opelousas, LA

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Opelousas's 45 lenders originated 206 FHA loans during 2024. The total origination value was $39,850,000, with an average FHA loan value of $193,447.

    Opelousas FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Opelousas averaged 6.41% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Opelousas's average FHA mortgage closing costs are $7,145.

    The average rate for the prior week (2025-07-11) was 6.31% and one month ago for the week of 2025-06-13, the average rate was 6.57%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.61%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Opelousas FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Opelousas level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 27 4.53% $6,610
    UNITED WHOLESALE MORTGAGE, LLC 23 6.20% $9,579
    EUSTIS AND AMERICAN MORTGAGE COMPANY 20 6.58% $7,319
    Equity Prime Mortgage LLC 17 6.51% $9,290
    QUICKEN LOANS, LLC 14 6.55% $9,831
    GMFS LLC 8 6.45% $6,595
    FREEDOM MORTGAGE CORPORATION 5 6.73% $8,967
    SOUTHWEST FUNDING, LP 5 7.02% $10,758
    PLANET HOME LENDING, LLC 5 6.07% $6,030
    PENNYMAC LOAN SERVICES, LLC 3 5.88% $7,187
    Flagstar Bank, FSB 3 6.02% $10,238
    AMERICAN FINANCIAL RESOURCES, INC. 3 7.21% $12,104
    MID AMERICA MORTGAGE, INC. 3 6.67% $3,613
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.92% $8,169
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.08% $4,984
    Assurance Financial Group, L.L.C. 2 7.38% $7,141
    CANOPY MORTGAGE, LLC 2 6.62% $11,526
    CORNERSTONE HOME LENDING, INC. 2 6.44% $10,513
    GENEVA FINANCIAL, LLC 2 6.81% $18,909
    LOANDEPOT.COM, LLC 2 6.56% $11,342
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $9,325
    NEWREZ LLC 2 6.94% $6,903
    SFMC, LP 2 7.06% $7,146
    TOWNE MORTGAGE COMPANY 2 6.75% $13,360
    ZILLOW HOME LOANS, LLC 2 6.63% $11,019
    Mortgage Research Center, LLC 1 7.13% $4,919
    SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $12,969
    NATIONS DIRECT MORTGAGE, LLC 1 6.25% $6,147
    NBKC BANK 1 5.88% $12,473
    The Loan Store, Inc. 1 6.75% $20,944
    DSLD MORTGAGE, LLC 1 5.25% $6,337
    Plains Commerce Bank 1 6.63% $8,441
    CROSSCOUNTRY MORTGAGE, LLC 1 5.75% $7,870
    PLAZA HOME MORTGAGE, INC. 1 7.25% $12,491
    Carrington Mortgage Services, LLC 1 6.63% $9,685
    Red River Bank 1 6.35% $4,942
    Regions Bank 1 6.50% $13,060
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $8,129
    ALLIED MORTGAGE GROUP, INC. 1 6.75% $5,328
    FIRST COMMUNITY MORTGAGE, INC. 1 7.49% $9,092
    Hancock Whitney Bank 1 7.25% $5,938
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.63% $13,027
    HOMESIDE FINANCIAL, LLC 1 6.50% $11,916
    Summit Mortgage Corporation 1 6.25% $13,204
    FIDELITY BANK 1 6.88% $5,328

    The top Opelousas FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 27 FHA loans originated. Their average total fees are $6,610, which is $2,969 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Opelousas FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,610), EUSTIS AND AMERICAN MORTGAGE COMPANY ($7,319), Equity Prime Mortgage LLC ($9,290), UNITED WHOLESALE MORTGAGE, LLC ($9,579) and QUICKEN LOANS, LLC ($9,831).

    The lowest rate Opelousas FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.53%), UNITED WHOLESALE MORTGAGE, LLC (6.20%), Equity Prime Mortgage LLC (6.51%), QUICKEN LOANS, LLC (6.55%) and EUSTIS AND AMERICAN MORTGAGE COMPANY (6.58%).

    Opelousas FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    OPELOUSAS, LA ST. LANDRY 2022 $420,680 $538,650 $651,050 $809,150
    OPELOUSAS, LA ST. LANDRY 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).