Batesville FHA Loan Rates, Closing Costs & Stats

Batesville, 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.

    Batesville's 43 lenders originated 144 FHA loans during 2023. The total origination value was $21,350,000, with an average FHA loan value of $148,264.

    Batesville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Batesville averaged 0.24% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Batesville's average FHA mortgage closing costs are $5,992.

    The average rate for the prior week (2024-11-08) was 6.75% and one month ago for the week of 2024-10-11, the average rate was 6.25%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    Batesville 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 Batesville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    First Community Bank 29 6.39% $7,207
    QUICKEN LOANS, LLC 19 6.59% $5,837
    FIRST COMMUNITY MORTGAGE, INC. 6 6.70% $8,434
    UNITED WHOLESALE MORTGAGE, LLC 5 6.37% $8,794
    Renasant Bank 4 6.22% $8,825
    FirstTrust Home Loans, Inc. 4 6.50% $5,282
    PENNYMAC LOAN SERVICES, LLC 4 6.72% $6,754
    Centennial Bank 3 6.67% $6,178
    EVERETT FINANCIAL, INC. 3 6.79% $6,523
    Bank of England 3 6.50% $6,701
    FLAT BRANCH MORTGAGE, INC. 3 7.50% $8,098
    DAS Acquisition Company, LLC 3 7.04% $6,516
    Eagle Bank and Trust Company 2 6.00% $8,233
    BROKER SOLUTIONS, INC. 2 6.69% $9,696
    MOVEMENT MORTGAGE, LLC 2 7.00% $7,794
    ACADEMY MORTGAGE CORPORATION 2 7.19% $6,548
    FREEDOM MORTGAGE CORPORATION 2 6.75% $9,611
    TJC Mortgage, Inc. 2 5.94% $6,099
    Mortgage Research Center, LLC 2 7.19% $4,408
    U.S. Bank 2 5.75% $9,514
    NEWREZ LLC 2 6.44% $7,910
    Equity Prime Mortgage LLC 2 6.69% $7,691
    VILLAGE CAPITAL MORTGAGE 1 6.75% $2,504
    AMERISAVE MORTGAGE CORPORATION 1 5.13% $13,756
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $5,430
    BancorpSouth 1 6.63% $3,423
    Century Mortgage Company DBA Century Lending Company 1 7.75% $2,376
    CHURCHILL MORTGAGE CORPORATION 1 6.50% $5,336
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $8,563
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $11,116
    First Financial Bank 1 5.25% $9,613
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $6,200
    LOANDEPOT.COM, LLC 1 6.25% $9,337
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $12,457
    M&T Bank 1 7.50% $6,689
    Plains Commerce Bank 1 6.13% $7,856
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $11,223
    Regions Bank 1 6.63% $8,047
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $6,990
    SENTE MORTGAGE, INC. 1 6.63% $7,482
    Simmons Bank 1 5.50% $6,371
    Springfield First Community Bank 1 6.75% $3,445
    T2 FINANCIAL LLC 1 6.25% $7,415

    The top Batesville FHA lender as defined by loan originations is First Community Bank, with 29 FHA loans originated. Their average total fees are $7,207, which is $1,369 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Batesville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($5,837), First Community Bank ($7,207), .

    The lowest rate Batesville FHA lenders (with over 10 loans originated) are First Community Bank (6.39%), QUICKEN LOANS, LLC (6.59%), .

    Batesville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Batesville (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 $119,950 (22.0%) $168,196 (24.3%) 0.00 412
    2018-02-01 $116,350 (17.5%) $160,187 (15.7%) 0.00 414
    2018-03-01 $117,900 (18.9%) $160,207 (14.4%) 0.00 457
    2018-04-01 $117,250 (9.6%) $163,291 (14.3%) 0.00 465
    2018-05-01 $115,000 (0.0%) $161,973 (8.7%) 0.00 479
    2018-06-01 $115,000 (-3.9%) $158,724 (3.2%) 0.00 477
    2018-07-01 $115,000 (-4.1%) $156,509 (1.4%) 0.00 481
    2018-08-01 $116,300 (-3.0%) $162,887 (4.6%) 0.00 470
    2018-09-01 $118,250 (0.6%) $163,416 (7.5%) 0.00 478
    2018-10-01 $119,225 (1.7%) $164,197 (5.3%) 0.00 474
    2018-11-01 $119,925 (0.8%) $166,349 (4.7%) 0.00 459
    2018-12-01 $129,000 (3.7%) $175,913 (5.3%) 0.00 438
    2019-01-01 $125,000 (4.2%) $175,281 (4.2%) 0.00 418
    2019-02-01 $128,625 (10.6%) $177,139 (10.6%) 0.00 421
    2019-03-01 $133,371 (13.1%) $179,431 (12.0%) 0.00 408
    2019-04-01 $136,921 (16.8%) $181,489 (11.1%) 0.00 406
    2019-05-01 $138,000 (20.0%) $182,634 (12.8%) 0.00 407
    2019-06-01 $139,000 (20.9%) $180,910 (14.0%) 0.00 407
    2019-07-01 $136,438 (18.6%) $177,149 (13.2%) 0.00 397
    2019-08-01 $133,636 (14.9%) $175,707 (7.9%) 0.00 387
    2019-09-01 $131,591 (11.3%) $174,129 (6.6%) 0.00 370
    2019-10-01 $130,000 (9.0%) $169,724 (3.4%) 0.00 360
    2019-11-01 $127,700 (6.5%) $162,460 (-2.3%) 0.00 357
    2019-12-01 $129,925 (0.7%) $164,158 (-6.7%) 0.00 339
    2020-01-01 $131,225 (5.0%) $167,961 (-4.2%) 0.00 326
    2020-02-01 $134,900 (4.9%) $168,547 (-4.9%) 0.00 330
    2020-03-01 $138,175 (3.6%) $172,530 (-3.9%) 0.00 324
    2020-04-01 $133,450 (-2.5%) $168,605 (-7.1%) 0.00 316
    2020-05-01 $139,900 (1.4%) $173,776 (-4.9%) 0.00 305
    2020-06-01 $146,975 (5.7%) $182,901 (1.1%) 0.00 279
    2020-07-01 $151,225 (10.8%) $191,430 (8.1%) 0.00 257
    2020-08-01 $164,750 (23.3%) $203,602 (15.9%) 0.00 225
    2020-09-01 $163,475 (24.2%) $207,565 (19.2%) 0.00 216
    2020-10-01 $167,900 (29.2%) $208,243 (22.7%) 0.00 217
    2020-11-01 $161,975 (26.8%) $202,679 (24.8%) 0.00 206
    2020-12-01 $161,450 (24.3%) $204,468 (24.6%) 0.00 200
    2021-01-01 $168,000 (28.0%) $207,593 (23.6%) 0.00 189
    2021-02-01 $167,650 (24.3%) $209,234 (24.1%) 0.00 173
    2021-03-01 $167,675 (21.4%) $211,558 (22.6%) 0.00 154
    2021-04-01 $177,100 (32.7%) $239,336 (42.0%) 0.00 132
    2021-05-01 $177,000 (26.5%) $228,864 (31.7%) 0.00 133
    2021-06-01 $172,000 (17.0%) $221,222 (21.0%) 0.00 143
    2021-07-01 $172,000 (13.7%) $228,061 (19.1%) 0.00 140
    2021-08-01 $168,250 (2.1%) $233,176 (14.5%) 0.00 145
    2021-09-01 $178,350 (9.1%) $229,672 (10.7%) 0.00 145
    2021-10-01 $189,000 (12.6%) $229,394 (10.2%) 0.00 138
    2021-11-01 $183,750 (13.4%) $230,574 (13.8%) 0.00 125
    2021-12-01 $188,450 (16.7%) $235,463 (15.2%) 0.00 123
    2022-01-01 $178,950 (6.5%) $224,118 (8.0%) 0.00 123
    2022-02-01 $173,425 (3.4%) $214,004 (2.3%) 0.00 121
    2022-03-01 $167,000 (-0.4%) $206,832 (-2.2%) 0.00 112
    2022-04-01 $189,000 (6.7%) $249,202 (4.1%) 0.00 125
    2022-05-01 $188,000 (6.2%) $253,559 (10.8%) 0.00 148
    2022-06-01 $195,850 (13.9%) $259,886 (17.5%) 0.00 166
    2022-07-01 $190,000 (10.5%) $255,308 (12.0%) 0.00 184
    2022-08-01 $189,900 (12.9%) $254,513 (9.2%) 0.00 193
    2022-09-01 $198,950 (11.6%) $267,641 (16.5%) 0.00 188
    2022-10-01 $199,900 (5.8%) $276,613 (20.6%) 0.00 194
    2022-11-01 $199,450 (8.5%) $280,309 (21.6%) 0.00 195
    2022-12-01 $195,000 (3.5%) $261,225 (10.9%) 0.00 175
    2023-01-01 $194,500 (8.7%) $259,885 (16.0%) 0.00 167
    2023-02-01 $199,600 (15.1%) $268,172 (25.3%) 0.00 154
    2023-03-01 $199,950 (19.7%) $263,968 (27.6%) 0.00 156
    2023-04-01 $199,900 (5.8%) $259,470 (4.1%) 0.00 174
    2023-05-01 $189,450 (0.8%) $256,247 (1.1%) 0.00 168
    2023-06-01 $213,500 (9.0%) $270,071 (3.9%) 0.00 181
    2023-07-01 $215,000 (13.2%) $262,628 (2.9%) 0.00 198
    2023-08-01 $213,700 (12.5%) $257,987 (1.4%) 0.00 189
    2023-09-01 $219,000 (10.1%) $278,578 (4.1%) 0.00 194
    2023-10-01 $210,200 (5.2%) $274,421 (-0.8%) 0.00 203
    2023-11-01 $206,925 (3.8%) $273,766 (-2.3%) 0.00 209
    2023-12-01 $199,900 (2.5%) $273,387 (4.7%) 0.00 211
    2024-01-01 $192,500 (-1.0%) $278,053 (7.0%) 0.00 189
    2024-02-01 $207,450 (3.9%) $278,729 (3.9%) 0.00 174
    2024-03-01 $203,400 (1.7%) $276,736 (4.8%) 0.00 178
    2024-04-01 $216,400 (8.3%) $295,574 (13.9%) 0.00 204
    2024-05-01 $226,225 (19.4%) $311,894 (21.7%) 0.00 205
    2024-06-01 $219,000 (2.6%) $303,041 (12.2%) 0.00 218
    2024-07-01 $204,975 (-4.7%) $295,766 (12.6%) 0.00 229
    2024-08-01 $200,000 (-6.4%) $300,249 (16.4%) 0.00 232
    2024-09-01 $193,500 (-11.6%) $279,178 (0.2%) 0.00 255
    2024-10-01 $200,700 (-4.5%) $288,739 (5.2%) 0.00 248
    Batesville's median listing price for 2024-10-01 was $200,700, a difference of $-9,500 (-4.5%) versus the prior year and $7,200 versus the prior month.

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

    Batesville's average listing price for 2024-10-01 was $288,739, a difference of $14,318 (5.2%) versus the prior year and $9,561 versus the prior month.

    For the 2024-10-01 period, Batesville had 248 MLS listings, a difference of -7 listings (-3%) versus the prior month and 45 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Batesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,712 sqft
    2018-02-01 0 days 1,682 sqft
    2018-03-01 0 days 1,634 sqft
    2018-04-01 0 days 1,610 sqft
    2018-05-01 0 days 1,614 sqft
    2018-06-01 0 days 1,614 sqft
    2018-07-01 0 days 1,614 sqft
    2018-08-01 0 days 1,638 sqft
    2018-09-01 0 days 1,625 sqft
    2018-10-01 0 days 1,650 sqft
    2018-11-01 0 days 1,650 sqft
    2018-12-01 0 days 1,680 sqft
    2019-01-01 0 days 1,692 sqft
    2019-02-01 0 days 1,707 sqft
    2019-03-01 0 days 1,742 sqft
    2019-04-01 0 days 1,749 sqft
    2019-05-01 0 days 1,762 sqft
    2019-06-01 0 days 1,760 sqft
    2019-07-01 0 days 1,779 sqft
    2019-08-01 0 days 1,767 sqft
    2019-09-01 0 days 1,749 sqft
    2019-10-01 0 days 1,742 sqft
    2019-11-01 0 days 1,725 sqft
    2019-12-01 0 days 1,718 sqft
    2020-01-01 0 days 1,740 sqft
    2020-02-01 0 days 1,747 sqft
    2020-03-01 0 days 1,748 sqft
    2020-04-01 0 days 1,718 sqft
    2020-05-01 0 days 1,749 sqft
    2020-06-01 0 days 1,805 sqft
    2020-07-01 0 days 1,805 sqft
    2020-08-01 0 days 1,867 sqft
    2020-09-01 0 days 1,890 sqft
    2020-10-01 0 days 1,914 sqft
    2020-11-01 0 days 1,819 sqft
    2020-12-01 0 days 1,838 sqft
    2021-01-01 0 days 1,847 sqft
    2021-02-01 0 days 1,879 sqft
    2021-03-01 0 days 1,856 sqft
    2021-04-01 0 days 1,880 sqft
    2021-05-01 0 days 1,782 sqft
    2021-06-01 0 days 1,813 sqft
    2021-07-01 0 days 1,869 sqft
    2021-08-01 0 days 1,781 sqft
    2021-09-01 0 days 1,738 sqft
    2021-10-01 0 days 1,689 sqft
    2021-11-01 0 days 1,722 sqft
    2021-12-01 0 days 1,745 sqft
    2022-01-01 0 days 1,745 sqft
    2022-02-01 0 days 1,660 sqft
    2022-03-01 0 days 1,598 sqft
    2022-04-01 0 days 1,610 sqft
    2022-05-01 0 days 1,643 sqft
    2022-06-01 0 days 1,714 sqft
    2022-07-01 0 days 1,688 sqft
    2022-08-01 0 days 1,691 sqft
    2022-09-01 0 days 1,666 sqft
    2022-10-01 0 days 1,694 sqft
    2022-11-01 0 days 1,753 sqft
    2022-12-01 0 days 1,680 sqft
    2023-01-01 0 days 1,676 sqft
    2023-02-01 0 days 1,665 sqft
    2023-03-01 0 days 1,668 sqft
    2023-04-01 0 days 1,704 sqft
    2023-05-01 0 days 1,667 sqft
    2023-06-01 0 days 1,794 sqft
    2023-07-01 0 days 1,819 sqft
    2023-08-01 0 days 1,808 sqft
    2023-09-01 0 days 1,717 sqft
    2023-10-01 0 days 1,659 sqft
    2023-11-01 0 days 1,618 sqft
    2023-12-01 0 days 1,589 sqft
    2024-01-01 0 days 1,583 sqft
    2024-02-01 0 days 1,603 sqft
    2024-03-01 0 days 1,624 sqft
    2024-04-01 0 days 1,633 sqft
    2024-05-01 0 days 1,638 sqft
    2024-06-01 0 days 1,628 sqft
    2024-07-01 0 days 1,597 sqft
    2024-08-01 0 days 1,616 sqft
    2024-09-01 0 days 1,587 sqft
    2024-10-01 0 days 1,628 sqft
    Batesville's median listing age (time on market) for 2024-10-01 was 0 days.

    Batesville's median square footage for active listings during the 2024-10-01 period was 1,628 sqft. One year prior, the average listing was 1,659 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).