How to Buy a House in Louisiana
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$213,371
Closing Costs
$14,218
6.66% of price
Property Tax Rate
0.55%
$983/yr median
Days on Market
55
Median
FHA Loan Limit
$472,030
Attorney Required
No
Foreclosure Type
Judicial
Transfer Tax
None
None
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Key Facts About Buying in Louisiana
- ✓No transfer tax
- ✓Uses parishes instead of counties (civil law system)
- ✓Attorney required at closing
- ✓Strong homestead exemption including unlimited improvements
The Home Buying Process in Louisiana
Buying a home in Louisiana follows a 10-step process. Louisiana does not require an attorney at closing, though you may choose to hire one.
1
Check Your Credit Score & Finances
2
Get Pre-Approved for a Mortgage
3
Find a Real Estate Agent
4
Search for Homes & Make an Offer
5
Get a Home Inspection
6
Secure Your Financing
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First-Time Buyer Programs in Louisiana
LHC Mortgage Revenue Bond Program
Below-market rate mortgages
Reduced rates + up to $55,000 assistanceIncome: Varies by parish
Cost of Buying a Home in Louisiana
| Down Payment (3.5% FHA) | $7,468 |
| Down Payment (20% Conventional) | $42,674 |
| Average Closing Costs | $14,218 |
| Transfer Tax | None |
| Annual Property Tax (est.) | $1,174/yr |
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Legal & Regulatory Details in Louisiana
Homestead Exemption
Available
Up to $35,000 (land value) + unlimited improvements
Licensing Authority
Louisiana Real Estate Commission
Louisiana Real Estate Law Overview
| Conveyance Document | Warranty deed or act of sale |
| Security Instrument | Act of mortgage |
| Foreclosure Process | Judicial |
| Attorney Required at Closing | No |
| Deficiency Judgment | Yes |
| Redemption After Sale | No |
| Reinstatement Available | No |
| Seller Disclosures | The Residential Property Disclosure Form covers known defects that affect value or durability. Sellers are not required to hire an inspector. Some transactions are exempt, but exempt sellers must sign a statement acknowledging the exemption. |
