What would be the maximum loan amount that you want to purchase a home? The appraised value of the property. Yes, USDA home loan offers the maximum loan amount for people who qualify for the USDA home loans in Louisiana.
Since there is no maximum loan limit defined by USDA, you are eligible to get an amount that is equivalent to the appraised value of the property you are willing to buy. So think no more, if you still don’t have a home of your own, apply for USDA home loans today!
Louisiana Demographics
4,649,676 people inhabit the state of Louisiana and the population density is 104.9 people per square mile. Louisiana, nicknamed as ‘Bayou State’ and ‘Child of the Mississippi,’ covers a land area of 51,843 sq. miles which makes it the 31st most extensive state in U.S.
Quality of Life in Louisiana
Louisiana offers its people with a peaceful community life and great business opportunities. Most of the local businesses depend on tourism. New Orleans is one of the major cities that attracts people because of attractions like the JazzFest and Bourbon Street. Cost of living in Louisiana is very affordable, which is why this state is extremely liveable and people choose to relocate to this place. Louisiana also has a low crime rate which makes it perfect for family life.
Education in Louisiana
Each parish in Louisiana operate sits own school district. A number of public and private colleges and universities, and private research university is located in this state. Louisiana offers French Immersion for the students so that they can speak both languages well.
Jobs and Employment in Louisiana
Louisiana was ranked as the most small business friendly state in the U.S. based on a study that involved more than 12,000 small business owners. The per capita personal income in this state is $30,952, which is ranked 41st in U.S. Tourism is the main contributor to the state’s economy along with agriculture. Other industry products include petroleum and coal products, paper products, chemical products, etc. Tourism and culture play an important role in Louisiana’s economy.
- Job growth in past 1 year: -1.39%
- Project job growth next 10 years: 30.22%
- Median income of household: $23,214
Facilities and local amenities
There are abundant local facilities and amenities for the people of Louisiana. You can find coffee shops, grocery stores, restaurants, fitness centres close o the living areas. The public transportation, bridges, roadways, canals, etc are maintained by the Louisiana Department of Transportation and Development. Transportation of commercial goods takes place through the Intracoastal Waterway which plays an important role in the state’s economy.
Crime Index
Annual crimes per 1,000 residents is 41.01
Property and home value
The median home value in Louisiana is $142,400.
Louisiana – The Best Home Loan Program That Offers Maximum Loan Amount
USDA home loans supports people with low income to build or buy a home of their own and offers the maximum loan amount in the process. The maximum loan amount that the borrowers are eligible for is calculated based on various factors like monthly income, debt-to-income ratio, etc so that they are able to repay the loans easily.
Oftentimes, the maximum loan amount for USDA home loans in Louisiana is equal to the appraised value of the property. USDA home loans have the most flexible and lenient guidelines, so you can qualify despite a poor credit score but there are other qualifying criteria as well.
If you’re interested in USDA home loans in Louisiana, connect with us today!
