Louisiana Closing Costs Rates

Louisiana Closing Costs

Closing costs can be a bit confusing for pretty much anybody, whether you are a new homebuyer, an experienced one or a refinancing homeowner. They are basically expenses that come with the mortgage loan processing process. Since mortgage loans are offered by lenders, closing costs are also charged by and paid to lenders. But there are third party fees involved. Lender’s costs include loan origination fees while third party costs are things like appraisal fees, survey fees, title insurance and taxes among others.

Average closing costs range from 1% to 1.8% of the total loan amount. In Louisiana, the average amount is $2,547 for a $200,000 mortgage. That is a little more than 1% of the loan amount and slightly less than the national average of $4,450. Note that not all lenders have the same items on their closing costs so you should expect that value to vary wildly from one lender to another.

The location of your property will also be a factor in determining how much your closing costs will be. Of course appraisers, surveyors and other third parties charge differently for different areas. If you want a more accurate Louisiana closing costs estimate, contact Moreira Team and we will give you a breakdown of each item based on your type of loan, property, and location.

It is worth mentioning that in Louisiana you have the option to pay all or part of the costs when making your down payment. Moreira Team can help you get a loan that matches your financial situation. Give us a call today or get your rate quote below to get started.