Little Rock FHA Loan Rates, Closing Costs & Stats
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, 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.
Little Rock's 135 lenders originated 2,274 FHA
loans during 2023. The total origination value was $473,330,000, with an average FHA loan value of
$208,149.
Little Rock FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Little Rock
averaged
6.25%
for the week of 2024-10-25, compared to the national average (all FHA variants) of
6.253% for the same period.
Little Rock's average FHA mortgage closing costs are $6,481.
The average rate for the prior week (2024-10-18) was
6.24% and
one month ago for the week of 2024-09-20, the
average rate was 6.06%.
The average rate one year ago was 7.4%.
For refis of the same type during the week of 2024-10-25, the average rate
was 6.29%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Little Rock 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 Little Rock level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
QUICKEN LOANS, LLC
|
208
|
6.37%
|
$8,956
|
FirstTrust Home Loans, Inc.
|
170
|
6.75%
|
$9,296
|
Arvest Bank
|
101
|
6.50%
|
$7,376
|
FLAT BRANCH MORTGAGE, INC.
|
91
|
6.82%
|
$8,778
|
Eagle Bank and Trust Company
|
87
|
6.59%
|
$7,992
|
Bank of England
|
74
|
6.62%
|
$8,189
|
PILGRIM MORTGAGE LLC
|
73
|
6.79%
|
$9,676
|
Centennial Bank
|
72
|
6.52%
|
$8,746
|
Simmons Bank
|
69
|
6.53%
|
$7,425
|
BANK OF LITTLE ROCK MORTGAGE CORPORATION
|
66
|
6.44%
|
$7,947
|
EUSTIS AND AMERICAN MORTGAGE COMPANY
|
46
|
6.99%
|
$8,924
|
SENTE MORTGAGE, INC.
|
45
|
6.95%
|
$8,701
|
CORNERSTONE HOME LENDING, INC.
|
44
|
6.65%
|
$11,438
|
BROKER SOLUTIONS, INC.
|
44
|
6.92%
|
$9,418
|
First Community Bank
|
42
|
6.49%
|
$9,923
|
UNITED WHOLESALE MORTGAGE, LLC
|
41
|
6.38%
|
$10,296
|
MORTGAGE FINANCIAL SERVICES, LLC
|
40
|
6.58%
|
$8,369
|
CROSSCOUNTRY MORTGAGE, LLC
|
40
|
6.68%
|
$10,348
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
37
|
6.65%
|
$9,551
|
EVERETT FINANCIAL, INC.
|
36
|
6.75%
|
$9,705
|
Regions Bank
|
34
|
6.15%
|
$9,484
|
First Horizon Bank
|
33
|
6.69%
|
$6,820
|
COMMUNITY MORTGAGE CORPORATION
|
33
|
6.59%
|
$8,213
|
NFM, INC.
|
30
|
6.70%
|
$9,976
|
Mr. Cooper ( Nationstar Mortgage )
|
25
|
6.17%
|
$12,808
|
PENNYMAC LOAN SERVICES, LLC
|
24
|
6.31%
|
$9,500
|
FREEDOM MORTGAGE CORPORATION
|
23
|
6.95%
|
$11,607
|
First Security Bank
|
21
|
6.17%
|
$6,687
|
GUARANTEED RATE, INC.
|
19
|
7.09%
|
$10,668
|
LOANDEPOT.COM, LLC
|
19
|
6.27%
|
$9,992
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
17
|
6.83%
|
$8,505
|
Sierra Pacific Mortgage Company, Inc.
|
16
|
6.76%
|
$9,578
|
ENDEAVOR CAPITAL, LLC.
|
16
|
6.70%
|
$9,224
|
NEWREZ LLC
|
15
|
6.20%
|
$7,951
|
AMERISAVE MORTGAGE CORPORATION
|
15
|
6.04%
|
$11,439
|
Carrington Mortgage Services, LLC
|
13
|
6.47%
|
$9,170
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
12
|
6.79%
|
$12,180
|
Citizens Bank
|
12
|
6.48%
|
$7,275
|
LOANPAL, LLC
|
11
|
6.00%
|
$9,482
|
ACADEMY MORTGAGE CORPORATION
|
11
|
7.20%
|
$7,583
|
DAS Acquisition Company, LLC
|
11
|
6.85%
|
$9,009
|
MORTGAGE INVESTORS GROUP, INC.
|
11
|
6.84%
|
$6,999
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
10
|
6.58%
|
$9,673
|
GERSHMAN INVESTMENT CORP.
|
10
|
6.19%
|
$7,477
|
MID AMERICA MORTGAGE, INC.
|
10
|
6.70%
|
$4,475
|
ENCORE BANK
|
10
|
6.32%
|
$7,908
|
Chambers Bank
|
9
|
6.11%
|
$8,768
|
Mortgage Research Center, LLC
|
9
|
7.33%
|
$4,695
|
BancorpSouth
|
9
|
6.56%
|
$7,137
|
Gateway First Bank
|
9
|
6.75%
|
$7,240
|
SWBC MORTGAGE CORPORATION
|
8
|
6.91%
|
$8,085
|
MOVEMENT MORTGAGE, LLC
|
8
|
7.13%
|
$8,557
|
RELIANCE FIRST CAPITAL, LLC
|
8
|
7.02%
|
$7,510
|
The First National Bank of Fort Smith
|
8
|
6.72%
|
$7,373
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
8
|
7.25%
|
$7,788
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
7
|
6.43%
|
$11,362
|
Bank of America
|
7
|
5.77%
|
$5,926
|
AMCAP MORTGAGE, LTD.
|
7
|
6.61%
|
$11,613
|
GUILD MORTGAGE COMPANY
|
7
|
6.77%
|
$8,268
|
PLANET HOME LENDING, LLC
|
6
|
5.98%
|
$8,202
|
U.S. Bank
|
6
|
6.69%
|
$5,317
|
LAKEVIEW LOAN SERVICING, LLC
|
5
|
6.33%
|
$11,495
|
Flagstar Bank, FSB
|
5
|
6.87%
|
$6,843
|
GMFS LLC
|
5
|
6.42%
|
$6,544
|
SECURITYNATIONAL MORTGAGE COMPANY
|
5
|
6.10%
|
$14,019
|
TOP FLITE FINANCIAL, INC.
|
4
|
6.75%
|
$11,389
|
POLARIS HOME FUNDING CORP.
|
4
|
6.38%
|
$10,725
|
First Financial Bank
|
4
|
6.53%
|
$8,630
|
United Fidelity Funding Corp.
|
4
|
6.81%
|
$9,199
|
CARDINAL FINANCIAL
|
4
|
6.40%
|
$10,958
|
AMERICAN FINANCIAL NETWORK, INC.
|
4
|
7.31%
|
$8,214
|
Paramount Residential Mortgage Group, Inc.
|
4
|
6.69%
|
$7,993
|
RUOFF MORTGAGE COMPANY, INC.
|
3
|
6.50%
|
$6,940
|
ZILLOW HOME LOANS, LLC
|
3
|
6.04%
|
$8,687
|
Servion, Inc.
|
3
|
7.04%
|
$4,091
|
First Option Mortgage, LLC
|
3
|
6.21%
|
$6,506
|
SUN WEST MORTGAGE COMPANY, INC.
|
3
|
7.04%
|
$6,948
|
TELCOE FEDERAL CREDIT UNION
|
3
|
7.25%
|
$6,873
|
The Federal Savings Bank
|
3
|
6.21%
|
$16,233
|
Plains Commerce Bank
|
3
|
6.21%
|
$9,009
|
FIRST COMMUNITY MORTGAGE, INC.
|
3
|
7.41%
|
$12,453
|
BARTLETT MORTGAGE, INC.
|
3
|
6.46%
|
$8,711
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
3
|
6.42%
|
$8,825
|
GENEVA FINANCIAL, LLC
|
3
|
7.04%
|
$9,870
|
Magnolia Bank
|
3
|
6.38%
|
$7,754
|
STOCKTON MORTGAGE CORPORATION
|
2
|
7.13%
|
$8,366
|
EMM LOANS LLC
|
2
|
5.56%
|
$11,607
|
M&T Bank
|
2
|
6.50%
|
$9,113
|
Equity Prime Mortgage LLC
|
2
|
6.75%
|
$12,000
|
PHH Mortgage Corporation
|
2
|
6.81%
|
$10,842
|
Ameris Bank
|
2
|
7.13%
|
$6,264
|
AMERICAN FINANCING CORPORATION
|
2
|
6.81%
|
$18,333
|
NATIONS RELIABLE LENDING, LLC
|
2
|
7.38%
|
$11,018
|
AMERICAN FINANCIAL RESOURCES, INC.
|
2
|
6.75%
|
$9,606
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
2
|
6.50%
|
$10,893
|
HOMESIDE FINANCIAL, LLC
|
2
|
7.00%
|
$4,744
|
Wells Fargo Bank
|
2
|
6.13%
|
$5,442
|
Alcova Mortgage LLC
|
1
|
7.25%
|
$11,683
|
VERITAS FUNDING, LLC
|
1
|
6.99%
|
$22,065
|
VILLAGE CAPITAL MORTGAGE
|
1
|
6.63%
|
$15,760
|
V.I.P. MORTGAGE, INC.
|
1
|
6.99%
|
$8,278
|
Waterstone Mortgage Corporation
|
1
|
6.50%
|
$9,291
|
Hometown Equity Mortgage, LLC
|
1
|
7.63%
|
$8,767
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
1
|
7.25%
|
$5,583
|
Lakeview Community Capital, LLC
|
1
|
7.25%
|
$6,968
|
HOMESTAR FINANCIAL CORPORATION
|
1
|
6.63%
|
$16,647
|
LIBERTY HOME MORTGAGE CORPORATION
|
1
|
6.75%
|
$3,731
|
MEMBER FIRST MORTGAGE, LLC
|
1
|
6.25%
|
$5,757
|
GSF Mortgage Corporation
|
1
|
7.00%
|
$4,571
|
First Savings Bank
|
1
|
6.13%
|
$19,901
|
First Federal Bank
|
1
|
5.63%
|
$11,108
|
FirstBank
|
1
|
6.13%
|
$8,206
|
NBKC BANK
|
1
|
6.63%
|
$6,727
|
Farmers Bank & Trust Company
|
1
|
6.00%
|
$5,710
|
OCEANSIDE MORTGAGE COMPANY
|
1
|
6.13%
|
$9,767
|
PENTAGON FEDERAL CREDIT UNION
|
1
|
4.63%
|
$9,973
|
CALIBER HOME LOANS, INC.
|
1
|
6.25%
|
$11,327
|
PLAZA HOME MORTGAGE, INC.
|
1
|
6.75%
|
$9,247
|
PREMIA MORTGAGE, LLC
|
1
|
6.13%
|
$7,357
|
Barrington Bank & Trust Company, N.A.
|
1
|
7.25%
|
$7,677
|
AXIA FINANCIAL, LLC
|
1
|
6.75%
|
$10,120
|
Assurance Financial Group, L.L.C.
|
1
|
7.00%
|
$15,030
|
ROYAL UNITED MORTGAGE LLC
|
1
|
7.25%
|
$8,723
|
AmeriHome Mortgage Company, LLC
|
1
|
7.13%
|
$10,338
|
HOMEXPRESS MORTGAGE CORP.
|
1
|
6.50%
|
$11,734
|
SIRVA MORTGAGE, INC.
|
1
|
6.63%
|
$7,374
|
SOUTHWEST STAGE FUNDING, LLC
|
1
|
7.75%
|
$11,480
|
Stride Bank
|
1
|
6.13%
|
$18,884
|
T2 FINANCIAL LLC
|
1
|
6.50%
|
$14,873
|
The Central Trust Bank
|
1
|
5.75%
|
$15,627
|
THE MORTGAGE FIRM, INC.
|
1
|
7.50%
|
$6,935
|
The Union Bank Company
|
1
|
5.75%
|
$13,191
|
THRIVE MORTGAGE, LLC
|
1
|
5.75%
|
$13,382
|
TIB The Independent Bankersbank
|
1
|
7.00%
|
$9,445
|
UNION HOME MORTGAGE CORP.
|
1
|
6.63%
|
$7,415
|
The top Little Rock FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
208 FHA loans originated. Their average total fees are
$8,956, which is $341
lower than the next largest lender,
FirstTrust Home Loans, Inc..
The lowest fee Little Rock FHA lenders (with over 10 loans originated) are
MID AMERICA MORTGAGE, INC. ($4,475), First Security Bank ($6,687), First Horizon Bank ($6,820), MORTGAGE INVESTORS GROUP, INC. ($6,999) and Citizens Bank ($7,275).
The lowest rate Little Rock FHA lenders (with over 10 loans originated) are
LOANPAL, LLC (6.00%), AMERISAVE MORTGAGE CORPORATION (6.04%), Regions Bank (6.15%), Mr. Cooper ( Nationstar Mortgage ) (6.17%) and First Security Bank (6.17%).
Little Rock FHA Loan Limits
Metro |
County |
Year |
Single Family Limit |
2 Family Limit |
3 Family Limit |
4 Family Limit |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
FAULKNER |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
GRANT |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
LONOKE |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
PERRY |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
PULASKI |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
SALINE |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
FAULKNER |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
GRANT |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
LONOKE |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
PERRY |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
PULASKI |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR |
SALINE |
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).