New Orleans Mortgage Calculator
Estimate your monthly mortgage payment in New Orleans, LA. On the local median home value of $290,000 — with a 20% down payment at today's rates — expect a total monthly payment (principal, interest, taxes, and insurance) of about $1,835. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$1,466
- Property Tax$135
- Home Insurance$233
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $17,597 | $2,593 | $15,004 | $229,407 |
| 2 | $17,597 | $2,767 | $14,830 | $226,640 |
| 3 | $17,597 | $2,952 | $14,645 | $223,688 |
| 4 | $17,597 | $3,150 | $14,447 | $220,538 |
| 5 | $17,597 | $3,361 | $14,236 | $217,177 |
| 6 | $17,597 | $3,586 | $14,011 | $213,592 |
| 7 | $17,597 | $3,826 | $13,771 | $209,766 |
| 8 | $17,597 | $4,082 | $13,515 | $205,683 |
| 9 | $17,597 | $4,356 | $13,241 | $201,328 |
| 10 | $17,597 | $4,647 | $12,949 | $196,681 |
| 11 | $17,597 | $4,959 | $12,638 | $191,722 |
| 12 | $17,597 | $5,291 | $12,306 | $186,431 |
| 13 | $17,597 | $5,645 | $11,952 | $180,787 |
| 14 | $17,597 | $6,023 | $11,574 | $174,764 |
| 15 | $17,597 | $6,426 | $11,170 | $168,337 |
| 16 | $17,597 | $6,857 | $10,740 | $161,480 |
| 17 | $17,597 | $7,316 | $10,281 | $154,165 |
| 18 | $17,597 | $7,806 | $9,791 | $146,359 |
| 19 | $17,597 | $8,329 | $9,268 | $138,030 |
| 20 | $17,597 | $8,886 | $8,710 | $129,143 |
| 21 | $17,597 | $9,482 | $8,115 | $119,662 |
| 22 | $17,597 | $10,117 | $7,480 | $109,545 |
| 23 | $17,597 | $10,794 | $6,803 | $98,751 |
| 24 | $17,597 | $11,517 | $6,080 | $87,234 |
| 25 | $17,597 | $12,288 | $5,308 | $74,946 |
| 26 | $17,597 | $13,111 | $4,485 | $61,834 |
| 27 | $17,597 | $13,989 | $3,607 | $47,845 |
| 28 | $17,597 | $14,926 | $2,670 | $32,919 |
| 29 | $17,597 | $15,926 | $1,671 | $16,993 |
| 30 | $17,597 | $16,993 | $604 | $0 |
Swipe the table sideways to see all columns →
How to use this calculator
The Home Price field is pre-filled with the median home value in New Orleans (about $290,000). Override with your target home's actual price to get a payment estimate for that specific property.
The Property Tax Rate is pre-filled with Louisiana's average effective rate of 0.56%. Within Louisiana, rates vary by county — if you know your specific local rate, override it for a more precise estimate.
Adjust the Down Payment slider to see how your payment changes. Below 20% down triggers PMI; the calculator adds it automatically and shows a warning.
Scroll down for the full PITI breakdown, monthly payment pie chart, and complete month-by-month amortization schedule.
How it works
Buying a median-priced home in New Orleans. At $290,000 with a 20% down payment, you'd bring $58,000 to closing (plus closing costs) and take out a $232,000 mortgage. At a 6.50% interest rate on a 30-year fixed loan, your monthly principal + interest is roughly $1,466.
Annual costs on top of the loan. Louisiana's average property tax rate is 0.56%, so a median-priced New Orleans home generates approximately $1,624 in annual property tax (about $135/mo when paid through escrow). Homeowner's insurance in Louisiana averages around $2,800/year.
Total monthly payment (PITI) on the median New Orleans home works out to about $1,835 per month at current rates, assuming a 20% down payment and no HOA. If you're putting less than 20% down, add PMI to this — typically 0.5–1.5% of the loan balance per year.
Rates change; this is the math, not the offer. Mortgage rates fluctuate daily. Our default of 6.50% is a recent conventional 30-year benchmark — enter today's quoted rate from your lender for the most accurate payment estimate.
Frequently Asked Questions
Looking for a different city? Browse all cities. For Louisiana-specific property taxes, see the Louisiana Property Tax Calculator.