Arkadelphia FHA Loan Rates, Closing Costs & Stats

Arkadelphia, AR

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 23 lenders originated 52 FHA loans during 2021. The total origination value was $7,580,000, with an average FHA loan value of $145,769.

Arkadelphia FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Arkadelphia averaged 6.34% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Arkadelphia's average FHA mortgage closing costs are $5,099.

The average rate for the prior week (2022-11-25) was 6.36% and one month ago for the week of 2022-10-28, the average rate was 6.6%.

The average rate one year ago was 3.33%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.25%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 8 2.75% $5,495
AMCAP MORTGAGE, LTD. 6 3.92% $6,019
FirstTrust Home Loans, Inc. 4 3.22% $6,077
CORNERSTONE HOME LENDING, INC. 3 3.42% $5,080
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.79% $6,464
FIRST COMMUNITY MORTGAGE, INC. 2 2.50% $6,174
Arvest Bank 2 2.75% $5,076
LAKEVIEW LOAN SERVICING, LLC 2 3.32% $3,656
PENNYMAC LOAN SERVICES, LLC 2 3.06% $2,740
DAS Acquisition Company, LLC 1 4.13% $4,672
EVERETT FINANCIAL, INC. 1 5.00% $3,585
CALIBER HOME LOANS, INC. 1 3.75% $1,901
BROKER SOLUTIONS, INC. 1 3.13% $6,299
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.25% $5,516
SWBC MORTGAGE CORPORATION 1 3.25% $4,234
VILLAGE CAPITAL MORTGAGE 1 2.75% $720
Barrington Bank & Trust Company, N.A. 1 2.75% $6,314
AMERICAN FINANCIAL NETWORK, INC. 1 2.25% $7,885
Servion, Inc. 1 3.00% $5,778
Simmons Bank 1 2.75% $4,251
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $9,659
COMMUNITY MORTGAGE CORPORATION 1 3.00% $7,623
Carrington Mortgage Services, LLC 1 3.50% $7,918

The top Arkadelphia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 8 FHA loans originated. Their average total fees are $5,495, which is $524 lower than the next largest lender, AMCAP MORTGAGE, LTD..

The lowest fee Arkadelphia FHA lenders (with over 10 loans originated) are .

The lowest rate Arkadelphia FHA lenders (with over 10 loans originated) are .

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

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 (4.0%) $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 $131,400 (1.1%) $154,370 (-2.4%) 0.00 100
2019-04-01 $129,950 (-1.9%) $151,030 (-6.6%) 0.00 93
2019-05-01 $124,390 (-6.8%) $152,136 (-5.8%) 0.00 89
2019-06-01 $134,975 (2.9%) $152,562 (-2.2%) 0.00 82
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 (-0.4%) $149,556 (-3.1%) 0.00 85
2020-04-01 $138,475 (6.6%) $154,001 (2.0%) 0.00 79
2020-05-01 $139,500 (12.2%) $155,556 (2.3%) 0.00 72
2020-06-01 $144,871 (7.3%) $157,443 (3.2%) 0.00 61
2020-07-01 $149,900 (24.4%) $158,749 (5.7%) 0.00 64
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 (1.7%) $197,378 (25.4%) 0.00 32
2021-07-01 $147,500 (-1.6%) $188,788 (18.9%) 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
Arkadelphia's median listing price for 2022-11-01 was $176,225, a difference of $17,695 (11.2%) versus the prior year and $6,352 versus the prior month.

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

Arkadelphia's average listing price for 2022-11-01 was $256,422, a difference of $46,195 (22.0%) versus the prior year and $-7,838 versus the prior month.

For the 2022-11-01 period, Arkadelphia had 52 MLS listings, a difference of 5 listings (11%) versus the prior month and 21 listings (68%) 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 1,805 sqft
2018-02-01 0 days 1,806 sqft
2018-03-01 0 days 1,800 sqft
2018-04-01 0 days 1,842 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 1,774 sqft
2019-01-01 0 days 1,773 sqft
2019-02-01 0 days 1,743 sqft
2019-03-01 0 days 1,700 sqft
2019-04-01 0 days 1,698 sqft
2019-05-01 0 days 1,759 sqft
2019-06-01 0 days 1,812 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 1,854 sqft
2020-03-01 0 days 1,860 sqft
2020-04-01 0 days 1,931 sqft
2020-05-01 0 days 1,909 sqft
2020-06-01 0 days 1,932 sqft
2020-07-01 0 days 1,948 sqft
2020-08-01 0 days 1,931 sqft
2020-09-01 0 days 1,925 sqft
2020-10-01 0 days 1,920 sqft
2020-11-01 0 days 1,973 sqft
2020-12-01 0 days 1,941 sqft
2021-01-01 0 days 1,823 sqft
2021-02-01 0 days 1,744 sqft
2021-03-01 0 days 2,092 sqft
2021-04-01 0 days 2,133 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
Arkadelphia's median listing age (time on market) for 2022-11-01 was 0 days.

Arkadelphia's median square footage for active listings during the 2022-11-01 period was 1,657 sqft. One year prior, the average listing was 1,934 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).