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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.