Arkadelphia FHA Loan Rates, Closing Costs & Stats

Arkadelphia, AR

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Arkadelphia's 17 lenders originated 47 FHA loans during 2023. The total origination value was $7,245,000, with an average FHA loan value of $154,149.

    Arkadelphia FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Arkadelphia averaged 7.13% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Arkadelphia's average FHA mortgage closing costs are $5,999.

    The average rate for the prior week (2024-04-12) was 6.62% and one month ago for the week of 2024-03-15, the average rate was 6.59%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Arkadelphia FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Arkadelphia level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    EVERETT FINANCIAL, INC. 14 6.84% $7,035
    QUICKEN LOANS, LLC 8 6.71% $8,085
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 2 5.94% $5,200
    FIRST COMMUNITY MORTGAGE, INC. 2 6.94% $5,759
    Arvest Bank 2 6.19% $6,362
    CORNERSTONE HOME LENDING, INC. 2 7.25% $9,610
    PILGRIM MORTGAGE LLC 1 6.38% $6,235
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.63% $6,586
    STOCKTON MORTGAGE CORPORATION 1 6.50% $4,896
    TOP FLITE FINANCIAL, INC. 1 7.00% $7,589
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $11,965
    UNITED WHOLESALE MORTGAGE, LLC 1 5.13% $7,089
    Carrington Mortgage Services, LLC 1 6.25% $6,927
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $6,450
    FREEDOM MORTGAGE CORPORATION 1 7.25% $13,372
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $9,563
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $9,923

    The top Arkadelphia FHA lender as defined by loan originations is EVERETT FINANCIAL, INC., with 14 FHA loans originated. Their average total fees are $7,035, which is $1,050 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Arkadelphia FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($7,035), .

    The lowest rate Arkadelphia FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. (6.84%), .

    Arkadelphia FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ARKADELPHIA, AR CLARK 2022 $420,680 $538,650 $651,050 $809,150
    ARKADELPHIA, AR CLARK 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Arkadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $133,375 (8.4%) $160,787 (13.9%) 0.00 107
    2018-02-01 $129,975 (5.7%) $159,030 (14.4%) 0.00 112
    2018-03-01 $129,925 (4.0%) $158,107 (9.6%) 0.00 116
    2018-04-01 $132,500 (6.0%) $161,684 (14.9%) 0.00 117
    2018-05-01 $133,500 (3.1%) $161,527 (13.1%) 0.00 116
    2018-06-01 $131,213 (0.9%) $155,947 (6.3%) 0.00 114
    2018-07-01 $129,569 (-0.3%) $155,329 (2.2%) 0.00 110
    2018-08-01 $124,863 (-3.4%) $155,803 (2.5%) 0.00 105
    2018-09-01 $121,725 (-4.1%) $151,634 (1.6%) 0.00 103
    2018-10-01 $119,938 (-4.0%) $152,183 (2.9%) 0.00 102
    2018-11-01 $129,825 (3.9%) $163,715 (8.8%) 0.00 100
    2018-12-01 $139,725 (7.5%) $164,966 (7.3%) 0.00 97
    2019-01-01 $139,950 (4.9%) $165,266 (2.8%) 0.00 101
    2019-02-01 $136,922 (5.3%) $159,172 (0.1%) 0.00 100
    2019-03-01 $131,828 (1.5%) $154,932 (-2.0%) 0.00 99
    2019-04-01 $130,475 (-1.5%) $152,358 (-5.8%) 0.00 92
    2019-05-01 $125,205 (-6.2%) $153,550 (-4.9%) 0.00 88
    2019-06-01 $134,975 (2.9%) $152,222 (-2.4%) 0.00 81
    2019-07-01 $120,550 (-7.0%) $150,209 (-3.3%) 0.00 83
    2019-08-01 $124,305 (-0.5%) $152,000 (-2.4%) 0.00 78
    2019-09-01 $131,586 (8.1%) $157,732 (4.0%) 0.00 75
    2019-10-01 $136,441 (13.8%) $161,553 (6.2%) 0.00 72
    2019-11-01 $122,400 (-5.7%) $153,714 (-6.1%) 0.00 77
    2019-12-01 $119,225 (-14.7%) $152,251 (-7.7%) 0.00 75
    2020-01-01 $125,700 (-10.2%) $151,394 (-8.4%) 0.00 74
    2020-02-01 $129,500 (-5.4%) $148,386 (-6.8%) 0.00 79
    2020-03-01 $130,943 (-0.7%) $149,556 (-3.5%) 0.00 85
    2020-04-01 $138,475 (6.1%) $154,001 (1.1%) 0.00 79
    2020-05-01 $139,500 (11.4%) $155,556 (1.3%) 0.00 72
    2020-06-01 $143,546 (6.4%) $156,530 (2.8%) 0.00 61
    2020-07-01 $144,700 (20.0%) $156,559 (4.2%) 0.00 63
    2020-08-01 $149,943 (20.6%) $164,310 (8.1%) 0.00 57
    2020-09-01 $149,985 (14.0%) $162,561 (3.1%) 0.00 61
    2020-10-01 $149,943 (9.9%) $157,997 (-2.2%) 0.00 66
    2020-11-01 $148,971 (21.7%) $152,694 (-0.7%) 0.00 54
    2020-12-01 $144,375 (21.1%) $151,021 (-0.8%) 0.00 54
    2021-01-01 $139,000 (10.6%) $151,776 (0.3%) 0.00 47
    2021-02-01 $144,488 (11.6%) $165,039 (11.2%) 0.00 44
    2021-03-01 $154,788 (18.2%) $170,043 (13.7%) 0.00 29
    2021-04-01 $171,875 (24.1%) $200,183 (30.0%) 0.00 32
    2021-05-01 $147,500 (5.7%) $202,446 (30.1%) 0.00 35
    2021-06-01 $147,375 (2.7%) $197,378 (26.1%) 0.00 32
    2021-07-01 $147,500 (1.9%) $188,788 (20.6%) 0.00 30
    2021-08-01 $127,223 (-15.2%) $177,735 (8.2%) 0.00 21
    2021-09-01 $147,500 (-1.7%) $167,991 (3.3%) 0.00 27
    2021-10-01 $147,500 (-1.6%) $157,269 (-0.5%) 0.00 33
    2021-11-01 $158,530 (6.4%) $210,227 (37.7%) 0.00 31
    2021-12-01 $157,500 (9.1%) $202,932 (34.4%) 0.00 27
    2022-01-01 $169,900 (22.2%) $189,573 (24.9%) 0.00 30
    2022-02-01 $151,375 (4.8%) $167,086 (1.2%) 0.00 39
    2022-03-01 $144,063 (-6.9%) $148,784 (-12.5%) 0.00 32
    2022-04-01 $159,000 (-7.5%) $197,406 (-1.4%) 0.00 33
    2022-05-01 $169,900 (15.2%) $202,869 (0.2%) 0.00 37
    2022-06-01 $169,675 (15.1%) $207,773 (5.3%) 0.00 39
    2022-07-01 $137,000 (-7.1%) $192,025 (1.7%) 0.00 39
    2022-08-01 $158,675 (24.7%) $209,383 (17.8%) 0.00 39
    2022-09-01 $159,375 (8.1%) $207,662 (23.6%) 0.00 52
    2022-10-01 $169,873 (15.2%) $264,260 (68.0%) 0.00 47
    2022-11-01 $176,225 (11.2%) $256,422 (22.0%) 0.00 52
    2022-12-01 $169,500 (7.6%) $209,366 (3.2%) 0.00 54
    2023-01-01 $175,000 (3.0%) $207,509 (9.5%) 0.00 54
    2023-02-01 $167,250 (10.5%) $207,899 (24.4%) 0.00 56
    2023-03-01 $154,000 (6.9%) $204,046 (37.1%) 0.00 53
    2023-04-01 $169,875 (6.8%) $213,748 (8.3%) 0.00 57
    2023-05-01 $191,225 (12.6%) $226,511 (11.7%) 0.00 59
    2023-06-01 $196,125 (15.6%) $219,129 (5.5%) 0.00 53
    2023-07-01 $175,000 (27.7%) $204,959 (6.7%) 0.00 54
    2023-08-01 $179,900 (13.4%) $212,873 (1.7%) 0.00 57
    2023-09-01 $195,000 (22.4%) $232,759 (12.1%) 0.00 64
    2023-10-01 $164,875 (-2.9%) $207,518 (-21.5%) 0.00 75
    2023-11-01 $161,500 (-8.4%) $196,808 (-23.3%) 0.00 62
    2023-12-01 $164,000 (-3.2%) $201,141 (-3.9%) 0.00 71
    2024-01-01 $179,225 (2.4%) $229,849 (10.8%) 0.00 72
    2024-02-01 $184,999 (10.6%) $236,532 (13.8%) 0.00 71
    2024-03-01 $200,000 (29.9%) $244,891 (20.0%) 0.00 67
    Arkadelphia's median listing price for 2024-03-01 was $200,000, a difference of $46,000 (29.9%) versus the prior year and $15,001 versus the prior month.

    Arkadelphia's median listing price comes in at 0% of the national average.

    Arkadelphia's average listing price for 2024-03-01 was $244,891, a difference of $40,845 (20.0%) versus the prior year and $8,359 versus the prior month.

    For the 2024-03-01 period, Arkadelphia had 67 MLS listings, a difference of -4 listings (-6%) versus the prior month and 14 listings (26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Arkadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,800 sqft
    2018-02-01 0 days 1,800 sqft
    2018-03-01 0 days 1,800 sqft
    2018-04-01 0 days 1,839 sqft
    2018-05-01 0 days 1,844 sqft
    2018-06-01 0 days 1,800 sqft
    2018-07-01 0 days 1,800 sqft
    2018-08-01 0 days 1,822 sqft
    2018-09-01 0 days 1,758 sqft
    2018-10-01 0 days 1,724 sqft
    2018-11-01 0 days 1,775 sqft
    2018-12-01 0 days 1,809 sqft
    2019-01-01 0 days 1,795 sqft
    2019-02-01 0 days 1,745 sqft
    2019-03-01 0 days 1,706 sqft
    2019-04-01 0 days 1,703 sqft
    2019-05-01 0 days 1,762 sqft
    2019-06-01 0 days 1,816 sqft
    2019-07-01 0 days 1,758 sqft
    2019-08-01 0 days 1,786 sqft
    2019-09-01 0 days 1,825 sqft
    2019-10-01 0 days 1,843 sqft
    2019-11-01 0 days 1,786 sqft
    2019-12-01 0 days 1,813 sqft
    2020-01-01 0 days 1,856 sqft
    2020-02-01 0 days 1,838 sqft
    2020-03-01 0 days 1,858 sqft
    2020-04-01 0 days 1,925 sqft
    2020-05-01 0 days 1,890 sqft
    2020-06-01 0 days 1,931 sqft
    2020-07-01 0 days 1,936 sqft
    2020-08-01 0 days 1,930 sqft
    2020-09-01 0 days 1,914 sqft
    2020-10-01 0 days 1,909 sqft
    2020-11-01 0 days 1,952 sqft
    2020-12-01 0 days 1,915 sqft
    2021-01-01 0 days 1,810 sqft
    2021-02-01 0 days 1,744 sqft
    2021-03-01 0 days 2,013 sqft
    2021-04-01 0 days 2,132 sqft
    2021-05-01 0 days 1,974 sqft
    2021-06-01 0 days 1,840 sqft
    2021-07-01 0 days 2,034 sqft
    2021-08-01 0 days 1,843 sqft
    2021-09-01 0 days 1,820 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,934 sqft
    2021-12-01 0 days 1,834 sqft
    2022-01-01 0 days 1,770 sqft
    2022-02-01 0 days 1,517 sqft
    2022-03-01 0 days 1,480 sqft
    2022-04-01 0 days 1,662 sqft
    2022-05-01 0 days 1,713 sqft
    2022-06-01 0 days 1,701 sqft
    2022-07-01 0 days 1,657 sqft
    2022-08-01 0 days 1,654 sqft
    2022-09-01 0 days 1,695 sqft
    2022-10-01 0 days 1,683 sqft
    2022-11-01 0 days 1,657 sqft
    2022-12-01 0 days 1,657 sqft
    2023-01-01 0 days 1,657 sqft
    2023-02-01 0 days 1,634 sqft
    2023-03-01 0 days 1,590 sqft
    2023-04-01 0 days 1,614 sqft
    2023-05-01 0 days 1,657 sqft
    2023-06-01 0 days 1,708 sqft
    2023-07-01 0 days 1,736 sqft
    2023-08-01 0 days 1,704 sqft
    2023-09-01 0 days 1,731 sqft
    2023-10-01 0 days 1,689 sqft
    2023-11-01 0 days 1,690 sqft
    2023-12-01 0 days 1,731 sqft
    2024-01-01 0 days 1,759 sqft
    2024-02-01 0 days 1,768 sqft
    2024-03-01 0 days 1,792 sqft
    Arkadelphia's median listing age (time on market) for 2024-03-01 was 0 days.

    Arkadelphia's median square footage for active listings during the 2024-03-01 period was 1,792 sqft. One year prior, the average listing was 1,590 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).