Fayetteville FHA Loans

FAYETTEVILLE-SPRINGDALE-ROGERS, 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.

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).