Jonesboro FHA Loan Rates, Closing Costs & Stats
JONESBORO, 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.
Jonesboro's 67 lenders originated 523 FHA loans during 2023. The total origination value was $99,275,000, with an average FHA loan value of $189,818.
Jonesboro FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Jonesboro
averaged
5.9%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Jonesboro's average FHA mortgage closing costs are $6,300.
The average rate for the prior week (2024-09-27) was
5.79% and
one month ago for the week of 2024-08-30, the
average rate was 5.95%.
The average rate one year ago was 7.19%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.55%.
Jonesboro 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 Jonesboro level.
The top Jonesboro FHA lender as defined by loan originations is First Financial Bank, with
57 FHA loans originated. Their average total fees are
$8,866, which is $661
higher than the next largest lender,
DAS Acquisition Company, LLC.
The lowest fee Jonesboro FHA lenders (with over 10 loans originated) are
Midwest Mortgage Associates Corporation ($4,703), Nations Lending Corporation ($5,584), Centennial Bank ($7,039), Arvest Bank ($7,270) and FirstTrust Home Loans, Inc. ($7,290).
The lowest rate Jonesboro FHA lenders (with over 10 loans originated) are
Simmons Bank (6.22%), UNITED WHOLESALE MORTGAGE, LLC (6.25%), First Financial Bank (6.30%), QUICKEN LOANS, LLC (6.40%) and Midwest Mortgage Associates Corporation (6.53%).
Jonesboro FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
JONESBORO, AR | CRAIGHEAD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JONESBORO, AR | POINSETT | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JONESBORO, AR | CRAIGHEAD | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JONESBORO, AR | POINSETT | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Jonesboro (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 | $174,950 (11.2%) | $225,139 (6.1%) | 0.00 | 581 |
2018-02-01 | $183,387 (10.8%) | $232,855 (6.7%) | 0.00 | 564 |
2018-03-01 | $188,800 (11.1%) | $235,627 (6.5%) | 0.00 | 546 |
2018-04-01 | $175,500 (-1.3%) | $232,936 (1.7%) | 0.00 | 544 |
2018-05-01 | $176,250 (-3.4%) | $232,218 (0.3%) | 0.00 | 555 |
2018-06-01 | $174,900 (0.0%) | $233,358 (0.9%) | 0.00 | 590 |
2018-07-01 | $179,900 (8.4%) | $236,190 (3.0%) | 0.00 | 606 |
2018-08-01 | $178,950 (11.9%) | $235,272 (5.3%) | 0.00 | 632 |
2018-09-01 | $177,900 (8.8%) | $234,919 (3.7%) | 0.00 | 641 |
2018-10-01 | $174,575 (2.8%) | $237,160 (5.1%) | 0.00 | 655 |
2018-11-01 | $169,900 (-2.6%) | $231,905 (2.0%) | 0.00 | 679 |
2018-12-01 | $179,700 (4.2%) | $233,972 (3.2%) | 0.00 | 655 |
2019-01-01 | $184,000 (5.2%) | $230,286 (2.3%) | 0.00 | 644 |
2019-02-01 | $186,375 (1.6%) | $240,099 (3.1%) | 0.00 | 630 |
2019-03-01 | $194,186 (2.9%) | $245,518 (4.2%) | 0.00 | 610 |
2019-04-01 | $199,900 (13.9%) | $249,554 (7.1%) | 0.00 | 577 |
2019-05-01 | $204,075 (15.8%) | $259,936 (11.9%) | 0.00 | 584 |
2019-06-01 | $205,000 (17.2%) | $260,389 (11.6%) | 0.00 | 601 |
2019-07-01 | $212,900 (18.3%) | $262,211 (11.0%) | 0.00 | 578 |
2019-08-01 | $208,973 (16.8%) | $260,104 (10.6%) | 0.00 | 559 |
2019-09-01 | $203,082 (14.2%) | $257,606 (9.7%) | 0.00 | 560 |
2019-10-01 | $202,155 (15.8%) | $255,296 (7.7%) | 0.00 | 560 |
2019-11-01 | $206,200 (21.4%) | $256,328 (10.5%) | 0.00 | 525 |
2019-12-01 | $189,975 (5.7%) | $247,417 (5.8%) | 0.00 | 535 |
2020-01-01 | $186,475 (1.4%) | $242,087 (5.1%) | 0.00 | 511 |
2020-02-01 | $189,900 (1.9%) | $242,486 (1.0%) | 0.00 | 522 |
2020-03-01 | $197,400 (1.7%) | $248,632 (1.3%) | 0.00 | 508 |
2020-04-01 | $207,450 (3.8%) | $255,249 (2.3%) | 0.00 | 466 |
2020-05-01 | $199,900 (-2.1%) | $263,753 (1.5%) | 0.00 | 432 |
2020-06-01 | $210,925 (2.9%) | $268,669 (3.2%) | 0.00 | 440 |
2020-07-01 | $214,150 (0.6%) | $272,178 (3.8%) | 0.00 | 413 |
2020-08-01 | $210,950 (1.0%) | $272,278 (4.7%) | 0.00 | 394 |
2020-09-01 | $219,925 (8.3%) | $275,180 (6.8%) | 0.00 | 378 |
2020-10-01 | $214,950 (6.3%) | $273,438 (7.1%) | 0.00 | 359 |
2020-11-01 | $199,900 (-3.1%) | $267,421 (4.3%) | 0.00 | 355 |
2020-12-01 | $201,050 (5.8%) | $270,798 (9.5%) | 0.00 | 322 |
2021-01-01 | $199,900 (7.2%) | $278,828 (15.2%) | 0.00 | 288 |
2021-02-01 | $212,450 (11.9%) | $294,790 (21.6%) | 0.00 | 242 |
2021-03-01 | $221,800 (12.4%) | $305,741 (23.0%) | 0.00 | 234 |
2021-04-01 | $208,150 (0.3%) | $301,120 (18.0%) | 0.00 | 216 |
2021-05-01 | $199,450 (-0.2%) | $302,989 (14.9%) | 0.00 | 205 |
2021-06-01 | $199,778 (-5.3%) | $298,350 (11.1%) | 0.00 | 235 |
2021-07-01 | $199,900 (-6.7%) | $307,295 (12.9%) | 0.00 | 258 |
2021-08-01 | $199,900 (-5.2%) | $307,638 (13.0%) | 0.00 | 272 |
2021-09-01 | $200,156 (-9.0%) | $295,854 (7.5%) | 0.00 | 295 |
2021-10-01 | $199,400 (-7.2%) | $294,275 (7.6%) | 0.00 | 287 |
2021-11-01 | $213,250 (6.7%) | $300,303 (12.3%) | 0.00 | 264 |
2021-12-01 | $225,475 (12.2%) | $300,948 (11.1%) | 0.00 | 253 |
2022-01-01 | $229,000 (14.6%) | $292,723 (5.0%) | 0.00 | 220 |
2022-02-01 | $203,900 (-4.0%) | $266,227 (-9.7%) | 0.00 | 196 |
2022-03-01 | $218,300 (-1.6%) | $285,169 (-6.7%) | 0.00 | 205 |
2022-04-01 | $219,900 (5.6%) | $284,732 (-5.4%) | 0.00 | 222 |
2022-05-01 | $220,400 (10.5%) | $284,725 (-6.0%) | 0.00 | 235 |
2022-06-01 | $224,400 (12.3%) | $286,878 (-3.9%) | 0.00 | 283 |
2022-07-01 | $224,950 (12.5%) | $291,169 (-5.3%) | 0.00 | 360 |
2022-08-01 | $219,900 (10.0%) | $283,242 (-7.9%) | 0.00 | 390 |
2022-09-01 | $222,668 (11.3%) | $284,822 (-3.7%) | 0.00 | 394 |
2022-10-01 | $224,900 (12.8%) | $278,225 (-5.5%) | 0.00 | 415 |
2022-11-01 | $219,900 (3.1%) | $271,668 (-9.5%) | 0.00 | 437 |
2022-12-01 | $225,000 (-0.2%) | $277,746 (-7.7%) | 0.00 | 419 |
2023-01-01 | $222,225 (-3.0%) | $267,069 (-8.8%) | 0.00 | 394 |
2023-02-01 | $227,450 (11.6%) | $267,294 (0.4%) | 0.00 | 370 |
2023-03-01 | $244,900 (12.2%) | $278,501 (-2.3%) | 0.00 | 359 |
2023-04-01 | $254,900 (15.9%) | $298,395 (4.8%) | 0.00 | 375 |
2023-05-01 | $259,800 (17.9%) | $300,746 (5.6%) | 0.00 | 372 |
2023-06-01 | $257,700 (14.8%) | $299,411 (4.4%) | 0.00 | 363 |
2023-07-01 | $264,900 (17.8%) | $303,915 (4.4%) | 0.00 | 390 |
2023-08-01 | $268,475 (22.1%) | $303,436 (7.1%) | 0.00 | 447 |
2023-09-01 | $247,400 (11.1%) | $289,457 (1.6%) | 0.00 | 511 |
2023-10-01 | $238,400 (6.0%) | $287,191 (3.2%) | 0.00 | 555 |
2023-11-01 | $235,000 (6.9%) | $296,577 (9.2%) | 0.00 | 560 |
2023-12-01 | $238,950 (6.2%) | $293,064 (5.5%) | 0.00 | 562 |
2024-01-01 | $229,900 (3.5%) | $288,919 (8.2%) | 0.00 | 512 |
2024-02-01 | $232,812 (2.4%) | $298,745 (11.8%) | 0.00 | 457 |
2024-03-01 | $242,400 (-1.0%) | $310,301 (11.4%) | 0.00 | 470 |
2024-04-01 | $234,975 (-7.8%) | $311,547 (4.4%) | 0.00 | 488 |
2024-05-01 | $239,450 (-7.8%) | $310,914 (3.4%) | 0.00 | 492 |
2024-06-01 | $241,900 (-6.1%) | $303,790 (1.5%) | 0.00 | 509 |
2024-07-01 | $239,900 (-9.4%) | $302,261 (-0.5%) | 0.00 | 541 |
2024-08-01 | $239,500 (-10.8%) | $302,817 (-0.2%) | 0.00 | 594 |
2024-09-01 | $244,675 (-1.1%) | $309,418 (6.9%) | 0.00 | 596 |
Jonesboro's median listing price comes in at 0% of the national average.
Jonesboro's average listing price for 2024-09-01 was $309,418, a difference of $19,961 (6.9%) versus the prior year and $6,601 versus the prior month.
For the 2024-09-01 period, Jonesboro had 596 MLS listings, a difference of 2 listings (0%) versus the prior month and 85 listings (17%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Jonesboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,913 sqft |
2018-02-01 | 0 days | 1,945 sqft |
2018-03-01 | 0 days | 1,945 sqft |
2018-04-01 | 0 days | 1,923 sqft |
2018-05-01 | 0 days | 1,940 sqft |
2018-06-01 | 0 days | 1,940 sqft |
2018-07-01 | 0 days | 1,969 sqft |
2018-08-01 | 0 days | 1,953 sqft |
2018-09-01 | 0 days | 1,940 sqft |
2018-10-01 | 0 days | 1,954 sqft |
2018-11-01 | 0 days | 1,934 sqft |
2018-12-01 | 0 days | 1,950 sqft |
2019-01-01 | 0 days | 1,943 sqft |
2019-02-01 | 0 days | 1,957 sqft |
2019-03-01 | 0 days | 2,021 sqft |
2019-04-01 | 0 days | 2,078 sqft |
2019-05-01 | 0 days | 2,112 sqft |
2019-06-01 | 0 days | 2,105 sqft |
2019-07-01 | 0 days | 2,126 sqft |
2019-08-01 | 0 days | 2,097 sqft |
2019-09-01 | 0 days | 2,064 sqft |
2019-10-01 | 0 days | 2,042 sqft |
2019-11-01 | 0 days | 2,048 sqft |
2019-12-01 | 0 days | 1,950 sqft |
2020-01-01 | 0 days | 1,910 sqft |
2020-02-01 | 0 days | 1,916 sqft |
2020-03-01 | 0 days | 1,921 sqft |
2020-04-01 | 0 days | 1,974 sqft |
2020-05-01 | 0 days | 1,937 sqft |
2020-06-01 | 0 days | 2,041 sqft |
2020-07-01 | 0 days | 2,075 sqft |
2020-08-01 | 0 days | 2,098 sqft |
2020-09-01 | 0 days | 2,086 sqft |
2020-10-01 | 0 days | 2,044 sqft |
2020-11-01 | 0 days | 1,987 sqft |
2020-12-01 | 0 days | 2,000 sqft |
2021-01-01 | 0 days | 1,980 sqft |
2021-02-01 | 0 days | 2,132 sqft |
2021-03-01 | 0 days | 2,163 sqft |
2021-04-01 | 0 days | 2,030 sqft |
2021-05-01 | 0 days | 1,813 sqft |
2021-06-01 | 0 days | 1,777 sqft |
2021-07-01 | 0 days | 1,810 sqft |
2021-08-01 | 0 days | 1,839 sqft |
2021-09-01 | 0 days | 1,873 sqft |
2021-10-01 | 0 days | 1,926 sqft |
2021-11-01 | 0 days | 1,939 sqft |
2021-12-01 | 0 days | 1,956 sqft |
2022-01-01 | 0 days | 1,921 sqft |
2022-02-01 | 0 days | 1,920 sqft |
2022-03-01 | 0 days | 1,843 sqft |
2022-04-01 | 0 days | 1,791 sqft |
2022-05-01 | 0 days | 1,882 sqft |
2022-06-01 | 0 days | 1,849 sqft |
2022-07-01 | 0 days | 1,852 sqft |
2022-08-01 | 0 days | 1,755 sqft |
2022-09-01 | 0 days | 1,779 sqft |
2022-10-01 | 0 days | 1,792 sqft |
2022-11-01 | 0 days | 1,775 sqft |
2022-12-01 | 0 days | 1,802 sqft |
2023-01-01 | 0 days | 1,783 sqft |
2023-02-01 | 0 days | 1,778 sqft |
2023-03-01 | 0 days | 1,821 sqft |
2023-04-01 | 0 days | 1,843 sqft |
2023-05-01 | 0 days | 1,872 sqft |
2023-06-01 | 0 days | 1,886 sqft |
2023-07-01 | 0 days | 1,920 sqft |
2023-08-01 | 0 days | 1,971 sqft |
2023-09-01 | 0 days | 1,866 sqft |
2023-10-01 | 0 days | 1,847 sqft |
2023-11-01 | 0 days | 1,806 sqft |
2023-12-01 | 0 days | 1,800 sqft |
2024-01-01 | 0 days | 1,769 sqft |
2024-02-01 | 0 days | 1,777 sqft |
2024-03-01 | 0 days | 1,750 sqft |
2024-04-01 | 0 days | 1,697 sqft |
2024-05-01 | 0 days | 1,751 sqft |
2024-06-01 | 0 days | 1,737 sqft |
2024-07-01 | 0 days | 1,719 sqft |
2024-08-01 | 0 days | 1,729 sqft |
2024-09-01 | 0 days | 1,748 sqft |
Jonesboro's median square footage for active listings during the 2024-09-01 period was 1,748 sqft. One year prior, the average listing was 1,866 sqft.