Fort Smith FHA Loan Rates, Closing Costs & Stats

FORT SMITH, AR-OK

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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.

    Fort Smith's 83 lenders originated 838 FHA loans during 2024. The total origination value was $156,300,000, with an average FHA loan value of $186,516.

    Fort Smith FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fort Smith averaged 0.08% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Fort Smith's average FHA mortgage closing costs are $5,943.

    The average rate for the prior week (2025-06-27) was 6.77% and one month ago for the week of 2025-05-30, the average rate was 6.74%.

    The average rate one year ago was 6.96%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.02%.

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

    Fort Smith 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 Fort Smith level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Firstar Bank 147 6.17% $6,936
    Arvest Bank 93 6.53% $6,780
    QUICKEN LOANS, LLC 75 6.45% $9,368
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 61 6.38% $7,893
    BancorpSouth 30 6.18% $5,986
    FIRST WESTERN MORTGAGE, INC. 26 6.05% $5,958
    First Financial Bank 24 6.28% $7,477
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 6.57% $8,724
    The First National Bank of Fort Smith 19 5.93% $8,697
    SWBC MORTGAGE CORPORATION 15 6.19% $4,462
    FIRST COMMUNITY MORTGAGE, INC. 14 6.58% $9,279
    FLAT BRANCH MORTGAGE, INC. 14 7.01% $8,674
    FREEDOM MORTGAGE CORPORATION 10 6.29% $8,250
    LOANDEPOT.COM, LLC 10 6.07% $9,999
    UNITED 10 6.58% $6,306
    Priority Bank 10 5.99% $7,144
    UNITED WHOLESALE MORTGAGE, LLC 9 6.21% $10,239
    Simmons Bank 9 6.10% $7,388
    Bank of England 9 6.04% $6,667
    Regions Bank 9 6.38% $6,983
    ON Q FINANCIAL, INC. 9 7.14% $7,943
    BROKER SOLUTIONS, INC. 8 6.70% $10,343
    PENNYMAC LOAN SERVICES, LLC 7 6.02% $8,494
    Chambers Bank 6 6.46% $6,206
    T2 FINANCIAL LLC 6 6.27% $8,649
    Sierra Pacific Mortgage Company, Inc. 5 6.50% $8,859
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.95% $8,986
    AMERISAVE MORTGAGE CORPORATION 4 6.38% $10,326
    Paramount Residential Mortgage Group, Inc. 4 7.16% $5,047
    Centennial Bank 4 5.94% $6,968
    Carrington Mortgage Services, LLC 4 6.16% $9,730
    Mr. Cooper ( Nationstar Mortgage ) 3 6.71% $15,291
    GENEVA FINANCIAL, LLC 3 6.67% $9,982
    Flagstar Bank, FSB 3 7.08% $5,501
    NEWREZ LLC 3 6.75% $5,442
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.33% $10,922
    LOANPAL, LLC 3 5.79% $10,821
    AMERICAN FINANCING CORPORATION 3 6.08% $12,812
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.00% $19,882
    AMERICAN FINANCIAL NETWORK, INC. 2 6.75% $8,633
    American Mortgage Bank, LLC 2 6.50% $6,809
    Equity Prime Mortgage LLC 2 8.00% $7,355
    EVERETT FINANCIAL, INC. 2 6.38% $6,986
    GUILD MORTGAGE COMPANY 2 6.69% $5,954
    Mortgage Research Center, LLC 2 6.69% $3,133
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $13,820
    PHH Mortgage Corporation 2 5.63% $8,061
    American Bank of Oklahoma 2 5.75% $11,743
    RELIANCE FIRST CAPITAL, LLC 2 6.25% $14,635
    The Central Trust Bank 2 6.50% $6,694
    MID AMERICA MORTGAGE, INC. 1 6.38% $4,260
    MORTGAGE ACCESS CORP. 1 6.13% $7,439
    ZILLOW HOME LOANS, LLC 1 6.75% $8,671
    MOVEMENT MORTGAGE, LLC 1 7.75% $8,474
    First Security Bank 1 6.00% $8,300
    The Federal Savings Bank 1 7.25% $6,908
    First Federal Bank 1 6.38% $6,515
    ENDEAVOR CAPITAL, LLC. 1 6.75% $8,853
    ENCORE BANK 1 5.88% $7,338
    DEVELOPER'S MORTGAGE COMPANY 1 7.13% $8,686
    ASSOCIATED MORTGAGE CORPORATION 1 6.75% $7,444
    POLARIS HOME FUNDING CORP. 1 6.25% $11,001
    AmeriHome Mortgage Company, LLC 1 5.99% $6,159
    DAS Acquisition Company, LLC 1 7.50% $11,412
    CROSSCOUNTRY MORTGAGE, LLC 1 6.63% $9,560
    Chickasaw Community Bank 1 6.38% $8,185
    CARDINAL FINANCIAL 1 5.99% $17,223
    American Mortgage & Equity Consultants, Inc. 1 6.87% $13,950
    RESIDENTIAL BANCORP 1 6.75% $12,997
    ROYAL UNITED MORTGAGE LLC 1 6.75% $6,605
    SENTE MORTGAGE, INC. 1 5.88% $8,290
    BETTER MORTGAGE CORPORATION 1 7.63% $8,060
    Bell Bank 1 6.75% $6,877
    STOCKTON MORTGAGE CORPORATION 1 6.25% $8,612
    Stride Bank 1 6.75% $7,262
    Barrington Bank & Trust Company, N.A. 1 6.75% $6,094
    GUARANTEED RATE, INC. 1 7.25% $6,889
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.50% $6,421
    Great Plains National Bank 1 6.25% $12,449
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $9,357
    LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $15,094
    GERSHMAN INVESTMENT CORP. 1 6.50% $7,065
    Gateway First Bank 1 5.75% $14,901

    The top Fort Smith FHA lender as defined by loan originations is Firstar Bank, with 147 FHA loans originated. Their average total fees are $6,936, which is $156 higher than the next largest lender, Arvest Bank.

    The lowest fee Fort Smith FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($4,462), FIRST WESTERN MORTGAGE, INC. ($5,958), BancorpSouth ($5,986), UNITED ($6,306) and Arvest Bank ($6,780).

    The lowest rate Fort Smith FHA lenders (with over 10 loans originated) are The First National Bank of Fort Smith (5.93%), Priority Bank (5.99%), FIRST WESTERN MORTGAGE, INC. (6.05%), LOANDEPOT.COM, LLC (6.07%) and Firstar Bank (6.17%).

    Fort Smith FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FORT SMITH, AR-OK CRAWFORD 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK SEBASTIAN 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK SEQUOYAH 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK CRAWFORD 2023 $472,030 $604,400 $730,525 $907,900
    FORT SMITH, AR-OK FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
    FORT SMITH, AR-OK SEBASTIAN 2023 $472,030 $604,400 $730,525 $907,900
    FORT SMITH, AR-OK SEQUOYAH 2023 $472,030 $604,400 $730,525 $907,900

    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).