For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage Smartasset looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments. According to their research, Vermilion ranks 7th best among all the parishes in Louisiana!

To calculate the overall borrowing costs, Smartasset looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. Then, calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. They based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, Smartasset ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

RankCounty
Loan Funding Rate
5 Year Borrowing CostsProperty TaxAnnual Mortgage PaymentBest Mortgage Markets Index
1Avoyelles, LA60.17%$84,424$2,904$16,13248.56
2Lincoln, LA63.56%$84,424$6,563$16,13248.19
3Lafourche, LA61.85%$84,424$5,229$16,13248.11
4Bossier, LA63.55%$84,424$7,177$16,13247.86
5Jefferson Davis, LA59.32%$84,424$3,872$16,13247.65
6Pointe Coupee, LA57.94%$84,424$3,616$16,13247.14
7Vermilion, LA57.49%$84,424$3,348$16,13247.07
8Evangeline, LA58.21%$84,424$4,019$16,13247.05
9La Salle, LA58.72%$84,424$5,275$16,13246.62
10Rapides, LA58.98%$84,424$5,562$16,13246.59
LA51.95%$84,424$5,299$16,132

Sources: Mortgage Bankers AssociationUS Census Bureau 2017 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset