Buying a home in Lafayette Parish doesn't have to feel overwhelming. FHA loans make homeownership possible across Acadiana — even with imperfect credit or a smaller down payment.
Takes ~30 seconds. No credit pull.
FHA loans are backed by the Federal Housing Administration and designed to help more families in the Hub City qualify for homeownership — even if your credit or savings aren't perfect. Learn more about all of our Louisiana FHA loans or keep reading to see what makes Lafayette a great place to buy with FHA financing.
Put as little as 3.5% down if your credit score is 580 or higher. Even buyers with a 500-579 score may qualify with 10% down.
FHA loans are possible with credit scores as low as 500. Past financial challenges like collections or late payments are more forgivable than conventional loans.
Because FHA loans are government-backed, lenders can offer competitive rates that keep your monthly payment manageable.
Your down payment and closing costs can come from a gift from a family member or approved organization — you don't have to save it all yourself.
Already have an FHA loan? The FHA Streamline Refinance lets you lower your rate with minimal paperwork and no appraisal in most cases.
FHA loans can be used to buy new construction or to purchase and renovate a home with the FHA 203k rehab loan program.
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. Because the government insures the loan, lenders are able to offer more flexible qualification requirements than conventional loans.
For Lafayette buyers, this means homeownership is within reach even if you're still building your credit, have a limited down payment saved, or have experienced financial setbacks in the past.
| Loan Type | Down Payment | Min. Credit |
|---|---|---|
| FHA | 3.5% | 500 |
| Conventional | 3–20% | 620 |
| VA | 0% | 500 |
| USDA | 0% | 580 |
At Bayou Mortgage we compare FHA, USDA, VA, and Conventional loans to find the specific program that saves you the most money in Lafayette.
Get a Free Loan Comparison →Getting approved for an FHA loan is easier than you think. Here's how we get you from where you are to the closing table in Acadiana.
Start with a free conversation about your credit, income, and budget. We'll tell you exactly where you stand and what loan options are available to you right now.
Get Started →With your pre-approval in hand you'll know exactly how much home you can afford. Shop with confidence and make offers that sellers take seriously.
Get Started →Once you find the right home our team guides you through every step of the process — from appraisal to closing day — so you move in with complete peace of mind.
Get Started →In this short video, Channing walks you through everything you need to know about getting an FHA loan — from credit requirements to closing day.
Don't take our word for it. Here's what real Louisiana home buyers say about working with Bayou Mortgage.
Check your FHA eligibility in minutes — no commitment, no pressure, just answers.
Check My Eligibility Now →Bayou Mortgage serves home buyers across Louisiana. Find FHA loan information for your city, or visit our Louisiana FHA loan overview page for a full statewide guide.
Check your FHA eligibility in minutes. No commitment, no pressure — just a clear answer about where you stand in Acadiana.
Check My Eligibility →Prefer to meet in person or want to see where we’re located? You can find Bayou Mortgage right here in Louisiana.