Louisiana Mortgage What You Need To Know Before Buying A Home In Louisiana


Louisiana Mortgage What You Need To Know Before Buying A Home In
Louisiana 1

Louisiana Mortgage - What you​ Need to​ Know Before Buying a​ Home in​ Louisiana
Maybe you’re buying your first home in​ Louisiana,​ or​ perhaps you’re relocating to​ Louisiana from another state .​
Either way,​ it’s important that you​ educate yourself on​ Louisiana home loans before shopping for a​ home and mortgage .​
This article explains what you’ll need to​ know before buying a​ home in​ Louisiana:
After Hurricane Katrina hit Louisiana in​ the​ summer of​ 2018,​ the​ entire state of​ Louisiana was made eligible for public assistance .​
However,​ the​ southern half of​ Louisiana incurred the​ majority of​ damage .​
Housing prices in​ the​ undamaged parts of​ Louisiana surged 20% as​ evacuees rushed to​ purchase new homes.
The median value of​ a​ home in​ Louisiana is​ currently $85,​000; however,​ it​ is​ expected that this amount will rise due to​ the​ increase in​ home prices post-Hurricane Katrina .​
Newly-constructed homes in​ damaged areas are expected to​ be worth much more than they were before they were damaged .​
Additionally,​ current interest rates in​ Louisiana are above the​ national average.
Louisiana state law does not allow the​ issuance of​ home equity lines of​ credit .​
It prohibits prepayment penalties and reduced rate options on​ adjustable-rate mortgages and fixed-period adjustable-rate mortgages .​
Louisiana also has a​ Residential Mortgage Lending Act that sets lending conditions on​ mortgage companies in​ an​ attempt to​ counteract predatory lending.



Louisiana Mortgage What You Need To Know Before Buying A Home In Louisiana



Related Categories:


Mortgage
Mortgage Guide
Mortgage Tips
Mortgage Advice
Mortgage Books
Mortgage Support
Mortgage Questions
Mortgage Answers
Mortgage eBooks
Mortgage Help



No comments:

Powered by Blogger.