15-Year Fixed Mortgage Refinance Interest Rates in Shreveport, LA
Explore 15-year fixed mortgage refinance rates in Shreveport, LA over time.
5.736%5.74%
5.743%5.74%
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in Shreveport, Louisiana
Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in LA, total loan amount of $228,000.
| Lender | APR / Rate | Monthly Payment | |
|---|---|---|---|
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
What refinancing looks like in Shreveport at today's rates
The median home in Shreveport costs about $88,400. Refinancing a typical balance of $70,720 (80% of that value) at today's average 15-year fixed rate in Louisiana of 5.74% works out to roughly $587/month in principal and interest, with $34,892 of total interest over the 15-year term.
Here is how the monthly payment and break-even point change if you wait for (or negotiate) a lower rate, assuming closing costs of $1,768 (2.5% of the loan):
| Rate | Monthly P&I | Monthly savings | Break-even |
|---|---|---|---|
| 5.74% (today) | $587 | — | — |
| 5.49% (−0.25%) | $577 | $10/mo | 177 months |
| 5.24% (−0.50%) | $568 | $19/mo | 94 months |
| 4.99% (−0.75%) | $559 | $28/mo | 64 months |
| 4.74% (−1.00%) | $550 | $37/mo | 48 months |
Estimates use principal and interest only and today's average Louisiana rate; they exclude taxes, insurance, and rate differences from credit score or loan size.
Weighing the term itself? At today's Louisiana average 30-year fixed rate of 6.64%, the same $70,720 balance costs $454/month over 30 years — $133/month less than the 15-year fixed option, at the cost of $57,675 more interest over the life of the loan.
How Much Interest Can I Save with a 15-Year Refinance in Shreveport?
Substantial savings in Shreveport's stable market. Refinancing $70,720 from 30-year at 7% to 15-year at 6.5% cuts total interest from $99k to $40k-saving $59k over the loan's life. You'll pay more monthly ($145 increase), but every extra dollar goes to principal, not interest. With Shreveport's 4.9% steady appreciation, you'll own your home outright in 15 years with significant equity gains from both paydown and market growth.
Should I Refinance to 15-Year or Stay in 30-Year in Shreveport?
Refinance to 15-year in Shreveport if you can comfortably afford $145/month more. Your total PITI payment (including $41/month property tax at 0.55%) rises from $662 to $807. Benefits: $59k interest savings, debt-free in 15 years, forced savings plan. Stay in 30-year if: you prefer payment flexibility, invest extra cash at higher returns, or want emergency fund cushion. With Shreveport's 4.9% appreciation, both options build equity.
What's My Break-Even on a 15-Year Refinance in Shreveport?
Break-even analysis differs for 15-year refis. With $1,768 closing costs and $59k total interest savings, you "profit" as long as you keep the loan beyond 5 months. However, the real value isn't monthly cash flow-it 's accelerated equity. In Shreveport, each year of a 15-year mortgage builds approximately $46,675 in principal equity plus $4,332 in market appreciation. You're debt-free 15 years faster.
Can I Afford a 15-Year Refinance in Shreveport?
Calculate your debt-to-income ratio. Lenders prefer DTI below 43% for 15-year mortgages. On Shreveport's $88,400 median home, your $616/month P&I plus $41 property tax plus $150 insurance = $807total. To qualify comfortably, you'd need household income around $34,586/year (assuming 28% housing ratio). Benefits if you qualify: own home in 15 years, $59k interest savings, rapid equity building in Shreveport's 4.9% appreciation market.
Accelerate Equity with a 15-Year Refinance in Shreveport
Because Shreveport is incredibly affordable, almost all buyers utilize FHA, USDA, or VA loans. Refinancing relies on your Loan-to-Value (LTV) ratio.
With your home value growing 6.9%, you are building excellent equity. When your LTV dips under 80%, refinancing from an FHA loan into a standard Conventional loan is one of the smartest moves you can make to eliminate monthly mortgage insurance.
Property Tax Tip for Shreveport Homeowners
Because your home value and taxes are so low, fixed closing costs can feel like a larger percentage of your loan. Look for "no-closing-cost" refinance options where the lender covers the fees in exchange for a slightly higher rate.
Hero & Housing Programs for Shreveport
The LHC provides incredible statewide support. Explore their specific programs for military members (highly relevant for Barksdale AFB personnel) to ensure you are maximizing your benefits.
How Shreveport compares across Louisiana
Median home prices vary widely across Louisiana, which changes what a typical refinance costs. Here is the estimated monthly principal and interest on a median-priced home (80% loan-to-value) at today's average 15-year fixed rate of 5.74%:
| City | Median home price | Est. monthly P&I | vs. Shreveport |
|---|---|---|---|
| Shreveport | $88,400 | $587 | — |
| Baton Rouge | $275,000 | $1,825 | +$1,238/mo |
| New Orleans | $415,300 | $2,756 | +$2,169/mo |
Estimates use each city's median home price with the same statewide average rate; actual quotes vary by lender, credit profile, and loan size.