Fayetteville FHA Loans

FAYETTEVILLE-SPRINGDALE-ROGERS, 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.

    Fayetteville's 132 lenders originated 2,620 FHA loans during 2021. The total origination value was $554,330,000, with an average FHA loan value of $211,576.

    Fayetteville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fayetteville averaged 5.21% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

    The average rate for the prior week (2022-05-06) was 5.04% and one month ago for the week of 2022-04-08, the average rate was 4.81%.

    The average rate one year ago was 2.92%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.28%.

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

    Fayetteville FHA Loan Lenders by Rates & Fees

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

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 300 2.71% $5,845
    Arvest Bank 275 2.82% $6,347
    Priority Bank 135 2.60% $6,977
    FLAT BRANCH MORTGAGE, INC. 123 3.15% $6,929
    Gateway First Bank 116 3.21% $5,924
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 96 3.07% $7,264
    FREEDOM MORTGAGE CORPORATION 66 2.84% $4,404
    LAKEVIEW LOAN SERVICING, LLC 58 3.02% $4,513
    OPEN MORTGAGE, LLC 56 3.00% $8,143
    PENNYMAC LOAN SERVICES, LLC 46 2.97% $5,222
    Eagle Bank and Trust Company 42 2.73% $6,053
    Centennial Bank 41 2.90% $7,436
    CALIBER HOME LOANS, INC. 37 2.76% $6,607
    CORNERSTONE HOME LENDING, INC. 31 3.18% $7,417
    Mr. Cooper ( Nationstar Mortgage ) 30 3.28% $3,911
    GENEVA FINANCIAL, LLC 30 3.54% $7,842
    First Horizon Bank 28 2.73% $7,420
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 3.24% $7,262
    FirstTrust Home Loans, Inc. 26 2.98% $7,163
    DAS Acquisition Company, LLC 24 3.41% $8,092
    HOME POINT FINANCIAL CORPORATION 24 2.66% $5,719
    BOKF 23 3.05% $6,464
    THRIVE MORTGAGE, LLC 20 3.07% $7,171
    VILLAGE CAPITAL & INVESTMENT LLC 20 2.83% $1,804
    Carrington Mortgage Services, LLC 19 3.36% $7,533
    HOMEBRIDGE FINANCIAL SERVICES, INC. 19 2.74% $6,051
    Chambers Bank 18 2.65% $6,876
    Regions Bank 17 3.01% $6,239
    BROKER SOLUTIONS, INC. 16 3.10% $7,483
    Simmons Bank 15 2.77% $6,595
    LEADERONE FINANCIAL CORPORATION 15 3.02% $6,564
    ENCORE BANK 15 2.56% $6,609
    First Guaranty Mortgage Corporation 14 3.07% $5,431
    United Fidelity Funding Corp. 14 3.24% $10,449
    Plains Commerce Bank 14 2.71% $7,068
    UNITED 14 3.01% $6,950
    Paramount Residential Mortgage Group, Inc. 13 3.10% $7,028
    UNITED WHOLESALE MORTGAGE, LLC 13 2.72% $8,134
    AMERISAVE MORTGAGE CORPORATION 13 2.91% $8,377
    Flagstar Bank, FSB 12 2.52% $6,540
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 11 3.02% $9,369
    AMERICAN FINANCIAL NETWORK, INC. 11 2.74% $9,424
    MASON MCDUFFIE MORTGAGE CORPORATION 10 2.89% $7,918
    PLANET HOME LENDING, LLC 9 2.75% $4,825
    LOANDEPOT.COM, LLC 9 3.09% $8,225
    EVERETT FINANCIAL, INC. 9 3.43% $5,596
    AMERICAN FINANCIAL RESOURCES, INC. 9 3.13% $8,121
    COMMUNITY MORTGAGE CORPORATION 9 3.00% $6,852
    ZILLOW HOME LOANS, LLC 8 3.06% $7,282
    BancorpSouth Bank 8 2.98% $6,275
    FBC MORTGAGE, LLC 8 3.17% $7,407
    First Security Bank 8 2.66% $5,936
    MID AMERICA MORTGAGE, INC. 8 2.94% $4,355
    Bank of America 7 3.02% $6,624
    GUILD MORTGAGE COMPANY 7 3.27% $8,768
    GMFS LLC 7 3.16% $5,862
    KELLER MORTGAGE, LLC 6 2.46% $5,782
    Bank of England 6 3.42% $7,334
    OCEANSIDE MORTGAGE COMPANY 6 2.79% $2,377
    NEWREZ LLC 6 3.67% $4,605
    Colonial Savings, F.A. 5 3.43% $8,648
    FIRST WESTERN MORTGAGE, INC. 5 2.65% $5,214
    PLAZA HOME MORTGAGE, INC. 5 3.30% $6,223
    AMERICAN FINANCING CORPORATION 5 2.90% $8,106
    Citizens Bank 5 2.80% $5,643
    ARC HOME LLC 5 2.80% $6,644
    Chickasaw Community Bank 4 2.66% $6,420
    RELIANCE FIRST CAPITAL, LLC 4 2.81% $8,966
    GUARANTEED RATE, INC. 4 2.75% $6,740
    Sierra Pacific Mortgage Company, Inc. 4 2.75% $5,919
    Nations Lending Corporation 4 3.25% $6,671
    VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.09% $8,716
    SOUTHWEST STAGE FUNDING, LLC 3 3.08% $6,654
    Barrington Bank & Trust Company, N.A. 3 2.80% $8,658
    CROSSCOUNTRY MORTGAGE, LLC 3 3.50% $9,855
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 4.21% $7,133
    U.S. Bank 3 2.96% $6,271
    Manufacturers and Traders Trust Company 3 3.13% $9,194
    AMCAP MORTGAGE, LTD. 3 2.79% $8,655
    BECKAM FUNDING CORP. 3 3.79% $6,200
    ENDEAVOR CAPITAL, LLC. 3 3.08% $6,956
    SWBC MORTGAGE CORPORATION 3 3.33% $8,665
    The Federal Savings Bank 3 2.67% $10,823
    Mortgage Research Center, LLC 3 3.16% $4,682
    RUOFF MORTGAGE COMPANY, INC. 3 3.21% $6,159
    UNION HOME MORTGAGE CORP. 3 3.13% $6,749
    MORTGAGE INVESTORS GROUP, INC. 2 3.00% $8,361
    NATIONWIDE MORTGAGE BANKERS, INC. 2 3.00% $7,814
    ASSOCIATED MORTGAGE CORPORATION 2 3.19% $5,732
    First Financial Bank 2 2.69% $5,567
    Armstrong Bank 2 2.94% $6,427
    Wyndham Capital Mortgage, Inc. 2 2.69% $6,623
    Firstar Bank 2 2.25% $7,178
    FIRST COLONY MORTGAGE CORPORATION 2 2.88% $9,641
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.13% $12,205
    Fidelity Bank 1 2.63% $5,342
    Farmers Bank & Trust Company 1 2.25% $5,725
    Evolve Bank & Trust 1 3.00% $5,753
    Great Plains National Bank 1 3.50% $7,307
    Great Southern Bank 1 2.75% $4,369
    EMBRACE HOME LOANS, INC. 1 2.75% $7,275
    DELMAR FINANCIAL COMPANY 1 3.50% $0
    INTELLILOAN, INC. 1 2.25% $10,037
    INTERLINC MORTGAGE SERVICES, LLC 1 3.00% $4,322
    JAMES B. NUTTER & COMPANY 1 3.25% $2,548
    JPMorgan Chase Bank 1 2.75% $5,481
    COUNTRYPLACE MORTGAGE, LTD. 1 3.25% $14,456
    LOANPAL, LLC 1 2.88% $9,343
    Low VA Rates, LLC 1 2.75% $5,710
    Magnolia Bank 1 3.38% $8,583
    MICHIGAN MUTUAL, INC. 1 3.13% $8,570
    ACADEMY MORTGAGE CORPORATION 1 3.13% $6,606
    Midwest Mortgage Associates Corporation 1 3.13% $6,439
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $16,808
    CIS Financial Services, Inc. 1 2.88% $9,231
    Northpointe Bank 1 3.13% $7,685
    Origin Bank 1 4.13% $7,767
    CELEBRITY HOME LOANS, LLC 1 3.63% $6,165
    BLUELEAF LENDING, LLC 1 2.50% $9,662
    Peoples Bank 1 3.25% $13,674
    BELEM SERVICING LLC 1 2.99% $9,967
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.75% $7,856
    S1L, Inc. 1 3.25% $7,265
    Servion, Inc. 1 3.50% $7,914
    SOVEREIGN LENDING GROUP INCORPORATED 1 3.50% $6,229
    Sunflower Bank 1 3.99% $9,861
    The Home Loan Expert LLC 1 3.25% $5,364
    UMB Bank 1 4.13% $4,433
    First Community Bank 1 2.50% $10,239
    US MORTGAGE CORPORATION 1 3.00% $9,225
    Wells Fargo Bank 1 3.25% $5,458
    WRIGHT-PATT CREDIT UNION, INC. 1 2.75% $8,716

    The top Fayetteville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 300 FHA loans originated. Their average total fees are $5,845, which is $502 lower than the next largest lender, Arvest Bank.

    The lowest fee Fayetteville FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($1,804), Mr. Cooper ( Nationstar Mortgage ) ($3,911), FREEDOM MORTGAGE CORPORATION ($4,404), LAKEVIEW LOAN SERVICING, LLC ($4,513) and PENNYMAC LOAN SERVICES, LLC ($5,222).

    The lowest rate Fayetteville FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB (2.52%), ENCORE BANK (2.56%), Priority Bank (2.60%), Chambers Bank (2.65%) and HOME POINT FINANCIAL CORPORATION (2.66%).

    Fayetteville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR BENTON 2022 $420,680 $538,650 $651,050 $809,150
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR MADISON 2022 $420,680 $538,650 $651,050 $809,150
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fayetteville (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 $262,250 (5.2%) $345,765 (5.6%) 0.97 2,492
    2018-02-01 $272,250 (7.5%) $355,580 (8.2%) 0.98 2,382
    2018-03-01 $276,500 (3.5%) $360,504 (6.5%) 0.96 2,443
    2018-04-01 $285,400 (3.8%) $368,091 (6.4%) 0.96 2,416
    2018-05-01 $289,750 (3.6%) $372,289 (5.3%) 0.97 2,452
    2018-06-01 $289,900 (3.5%) $371,289 (4.5%) 0.97 2,549
    2018-07-01 $295,000 (7.3%) $380,297 (9.4%) 0.98 2,749
    2018-08-01 $289,280 (5.0%) $374,104 (8.6%) 0.97 2,829
    2018-09-01 $279,999 (3.7%) $363,821 (7.6%) 0.94 2,861
    2018-10-01 $275,000 (1.9%) $365,337 (6.7%) 0.92 2,820
    2018-11-01 $274,000 (2.6%) $364,464 (7.1%) 0.92 2,767
    2018-12-01 $273,000 (5.0%) $361,178 (6.3%) 0.93 2,635
    2019-01-01 $269,450 (2.8%) $356,739 (3.2%) 0.93 2,462
    2019-02-01 $272,450 (0.1%) $362,252 (1.9%) 0.91 2,450
    2019-03-01 $281,214 (1.7%) $373,936 (3.7%) 0.92 2,359
    2019-04-01 $286,214 (0.3%) $380,839 (3.5%) 0.90 2,290
    2019-05-01 $291,950 (0.8%) $389,083 (4.5%) 0.90 2,303
    2019-06-01 $289,900 (0.0%) $390,823 (5.3%) 0.89 2,373
    2019-07-01 $291,325 (-1.3%) $390,927 (2.8%) 0.91 2,395
    2019-08-01 $285,386 (-1.4%) $383,057 (2.4%) 0.90 2,353
    2019-09-01 $279,900 (0.0%) $375,226 (3.1%) 0.89 2,302
    2019-10-01 $279,900 (1.8%) $377,975 (3.5%) 0.89 2,328
    2019-11-01 $279,900 (2.2%) $377,246 (3.5%) 0.90 2,204
    2019-12-01 $279,950 (2.6%) $387,892 (7.4%) 0.93 2,010
    2020-01-01 $280,000 (3.9%) $388,918 (9.0%) 0.93 1,842
    2020-02-01 $289,000 (6.1%) $408,532 (12.8%) 0.93 1,699
    2020-03-01 $298,625 (6.2%) $414,777 (10.9%) 0.93 1,650
    2020-04-01 $289,950 (1.3%) $406,429 (6.7%) 0.90 1,753
    2020-05-01 $300,000 (2.8%) $417,044 (7.2%) 0.91 1,635
    2020-06-01 $302,944 (4.5%) $427,430 (9.4%) 0.88 1,411
    2020-07-01 $299,700 (2.9%) $428,270 (9.6%) 0.86 1,309
    2020-08-01 $315,000 (10.4%) $444,183 (16.0%) 0.90 1,142
    2020-09-01 $322,949 (15.4%) $463,508 (23.5%) 0.92 1,092
    2020-10-01 $309,500 (10.6%) $446,922 (18.2%) 0.88 1,072
    2020-11-01 $299,900 (7.2%) $450,352 (19.4%) 0.86 975
    2020-12-01 $293,320 (4.8%) $435,842 (12.4%) 0.86 895
    2021-01-01 $289,900 (3.5%) $429,225 (10.4%) 0.85 756
    2021-02-01 $292,000 (1.0%) $439,329 (7.5%) 0.84 623
    2021-03-01 $299,000 (0.1%) $482,321 (16.3%) 0.84 583
    2021-04-01 $302,450 (4.3%) $481,808 (18.6%) 0.81 618
    2021-05-01 $320,000 (6.7%) $502,692 (20.5%) 0.84 589
    2021-06-01 $327,000 (7.9%) $500,325 (17.1%) 0.85 693
    2021-07-01 $336,000 (12.1%) $494,982 (15.6%) 0.87 820
    2021-08-01 $342,500 (8.7%) $503,571 (13.4%) 0.90 927
    2021-09-01 $349,950 (8.4%) $516,873 (11.5%) 0.92 926
    2021-10-01 $349,900 (13.1%) $536,833 (20.1%) 0.92 933
    2021-11-01 $359,950 (20.0%) $560,059 (24.4%) 0.95 869
    2021-12-01 $367,500 (25.3%) $578,144 (32.7%) 0.98 760
    2022-01-01 $385,000 (32.8%) $615,801 (43.5%) 1.03 597
    2022-02-01 $406,250 (39.1%) $635,992 (44.8%) 1.04 502
    2022-03-01 $412,500 (38.0%) $638,233 (32.3%) 1.02 509
    2022-04-01 $425,000 (40.5%) $652,035 (35.3%) 1.00 538
    Fayetteville's median listing price for 2022-04-01 was $425,000, a difference of $122,550 (40.5%) versus the prior year and $12,500 versus the prior month.

    Fayetteville's median listing price comes in at 100% of the national average.

    Fayetteville's average listing price for 2022-04-01 was $652,035, a difference of $170,227 (35.3%) versus the prior year and $13,802 versus the prior month.

    For the 2022-04-01 period, Fayetteville had 538 MLS listings, a difference of 29 listings (6%) versus the prior month and -80 listings (-13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fayetteville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 89 days 2,231 sqft
    2018-02-01 85 days 2,274 sqft
    2018-03-01 67 days 2,270 sqft
    2018-04-01 63 days 2,305 sqft
    2018-05-01 64 days 2,363 sqft
    2018-06-01 63 days 2,374 sqft
    2018-07-01 57 days 2,384 sqft
    2018-08-01 61 days 2,349 sqft
    2018-09-01 66 days 2,300 sqft
    2018-10-01 72 days 2,249 sqft
    2018-11-01 74 days 2,213 sqft
    2018-12-01 85 days 2,205 sqft
    2019-01-01 89 days 2,190 sqft
    2019-02-01 84 days 2,199 sqft
    2019-03-01 70 days 2,244 sqft
    2019-04-01 64 days 2,278 sqft
    2019-05-01 61 days 2,309 sqft
    2019-06-01 61 days 2,311 sqft
    2019-07-01 65 days 2,303 sqft
    2019-08-01 67 days 2,243 sqft
    2019-09-01 71 days 2,200 sqft
    2019-10-01 72 days 2,203 sqft
    2019-11-01 73 days 2,192 sqft
    2019-12-01 82 days 2,193 sqft
    2020-01-01 88 days 2,215 sqft
    2020-02-01 77 days 2,248 sqft
    2020-03-01 58 days 2,262 sqft
    2020-04-01 56 days 2,204 sqft
    2020-05-01 63 days 2,215 sqft
    2020-06-01 63 days 2,208 sqft
    2020-07-01 59 days 2,180 sqft
    2020-08-01 56 days 2,196 sqft
    2020-09-01 56 days 2,209 sqft
    2020-10-01 56 days 2,154 sqft
    2020-11-01 53 days 2,059 sqft
    2020-12-01 64 days 2,033 sqft
    2021-01-01 65 days 1,996 sqft
    2021-02-01 61 days 1,957 sqft
    2021-03-01 50 days 1,964 sqft
    2021-04-01 37 days 1,961 sqft
    2021-05-01 40 days 1,992 sqft
    2021-06-01 37 days 2,030 sqft
    2021-07-01 38 days 2,020 sqft
    2021-08-01 37 days 2,001 sqft
    2021-09-01 41 days 2,025 sqft
    2021-10-01 43 days 2,016 sqft
    2021-11-01 47 days 2,104 sqft
    2021-12-01 53 days 2,120 sqft
    2022-01-01 64 days 2,134 sqft
    2022-02-01 61 days 2,174 sqft
    2022-03-01 45 days 2,159 sqft
    2022-04-01 38 days 2,112 sqft
    Fayetteville's median listing age (time on market) for 2022-04-01 was 38 days. This is 4% longer than the same period one year ago.

    Fayetteville's median square footage for active listings during the 2022-04-01 period was 2,112 sqft. One year prior, the average listing was 1,961 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).