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 2,609 FHA loans during 2022. The total origination value was $505,305,000, with an average FHA loan value of $193,678.
Little Rock FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Little Rock
averaged
6.21%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Little Rock's average FHA mortgage closing costs are $6,086.
The average rate for the prior week (2023-05-19) was
6.18% and
one month ago for the week of 2023-04-21, the
average rate was 6.12%.
The average rate one year ago was 5.14%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.5%.
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.
The top Little Rock FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
253 FHA loans originated. Their average total fees are
$8,005, which is $579
lower than the next largest lender,
FirstTrust Home Loans, Inc..
The lowest fee Little Rock FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($5,328), EVERETT FINANCIAL, INC. ($5,374), Mortgage Research Center, LLC ($5,973), GERSHMAN INVESTMENT CORP. ($6,001) and Gateway First Bank ($6,259).
The lowest rate Little Rock FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC (3.93%), PENNYMAC LOAN SERVICES, LLC (4.33%), The Home Loan Expert LLC (4.38%), Mr. Cooper ( Nationstar Mortgage ) (4.46%) and LOANDEPOT.COM, LLC (4.54%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Little Rock (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 | $175,450 (9.7%) | $244,247 (12.8%) | 0.65 | 3,009 |
2018-02-01 | $179,900 (11.5%) | $245,854 (12.3%) | 0.65 | 2,998 |
2018-03-01 | $181,500 (7.6%) | $244,862 (9.0%) | 0.64 | 3,033 |
2018-04-01 | $186,000 (10.1%) | $250,370 (10.6%) | 0.63 | 3,073 |
2018-05-01 | $189,500 (11.5%) | $257,179 (11.5%) | 0.63 | 3,232 |
2018-06-01 | $189,900 (10.1%) | $258,409 (9.7%) | 0.63 | 3,321 |
2018-07-01 | $189,700 (8.5%) | $254,994 (7.7%) | 0.63 | 3,425 |
2018-08-01 | $189,900 (9.0%) | $251,907 (6.9%) | 0.64 | 3,472 |
2018-09-01 | $189,000 (8.1%) | $252,200 (7.1%) | 0.64 | 3,532 |
2018-10-01 | $189,900 (9.2%) | $251,833 (7.3%) | 0.64 | 3,652 |
2018-11-01 | $189,000 (8.3%) | $250,605 (6.2%) | 0.64 | 3,485 |
2018-12-01 | $187,000 (6.9%) | $249,459 (3.9%) | 0.65 | 3,371 |
2019-01-01 | $184,975 (5.4%) | $247,499 (1.3%) | 0.64 | 3,232 |
2019-02-01 | $186,950 (3.9%) | $250,674 (2.0%) | 0.63 | 3,153 |
2019-03-01 | $194,900 (7.4%) | $260,428 (6.4%) | 0.65 | 3,110 |
2019-04-01 | $199,900 (7.5%) | $266,115 (6.3%) | 0.63 | 3,085 |
2019-05-01 | $199,950 (5.5%) | $271,717 (5.7%) | 0.62 | 3,070 |
2019-06-01 | $204,250 (7.6%) | $274,673 (6.3%) | 0.64 | 3,066 |
2019-07-01 | $202,500 (6.8%) | $275,158 (7.9%) | 0.63 | 3,011 |
2019-08-01 | $207,500 (9.3%) | $278,576 (10.6%) | 0.65 | 2,977 |
2019-09-01 | $212,750 (12.6%) | $283,100 (12.3%) | 0.67 | 2,734 |
2019-10-01 | $208,100 (9.6%) | $276,710 (9.9%) | 0.67 | 2,859 |
2019-11-01 | $204,900 (8.4%) | $273,793 (9.3%) | 0.67 | 2,781 |
2019-12-01 | $202,650 (8.4%) | $276,321 (10.8%) | 0.68 | 2,606 |
2020-01-01 | $199,963 (8.1%) | $276,394 (11.7%) | 0.67 | 2,412 |
2020-02-01 | $210,000 (12.3%) | $280,921 (12.1%) | 0.69 | 2,320 |
2020-03-01 | $219,450 (12.6%) | $284,838 (9.4%) | 0.69 | 2,313 |
2020-04-01 | $219,250 (9.7%) | $283,395 (6.5%) | 0.69 | 2,282 |
2020-05-01 | $230,100 (15.1%) | $294,752 (8.5%) | 0.70 | 2,023 |
2020-06-01 | $239,450 (17.2%) | $304,392 (10.8%) | 0.71 | 1,860 |
2020-07-01 | $243,656 (20.3%) | $311,343 (13.2%) | 0.71 | 1,760 |
2020-08-01 | $245,000 (18.1%) | $319,359 (14.6%) | 0.70 | 1,617 |
2020-09-01 | $241,200 (13.4%) | $320,661 (13.3%) | 0.69 | 1,483 |
2020-10-01 | $244,950 (17.7%) | $329,289 (19.0%) | 0.70 | 1,425 |
2020-11-01 | $241,700 (18.0%) | $329,576 (20.4%) | 0.71 | 1,337 |
2020-12-01 | $239,450 (18.2%) | $331,040 (19.8%) | 0.71 | 1,209 |
2021-01-01 | $230,000 (15.0%) | $331,887 (20.1%) | 0.69 | 993 |
2021-02-01 | $244,950 (16.6%) | $335,296 (19.4%) | 0.71 | 848 |
2021-03-01 | $250,000 (13.9%) | $341,334 (19.8%) | 0.71 | 793 |
2021-04-01 | $248,950 (13.6%) | $342,671 (20.9%) | 0.67 | 763 |
2021-05-01 | $239,000 (3.9%) | $335,123 (13.7%) | 0.63 | 745 |
2021-06-01 | $235,000 (-1.9%) | $330,739 (8.7%) | 0.62 | 820 |
2021-07-01 | $245,000 (0.6%) | $332,807 (6.9%) | 0.65 | 991 |
2021-08-01 | $249,450 (1.8%) | $333,052 (4.3%) | 0.67 | 1,082 |
2021-09-01 | $249,450 (3.4%) | $331,112 (3.3%) | 0.67 | 1,089 |
2021-10-01 | $249,000 (1.7%) | $328,339 (-0.3%) | 0.66 | 1,002 |
2021-11-01 | $233,450 (-3.4%) | $315,195 (-4.4%) | 0.62 | 974 |
2021-12-01 | $236,950 (-1.0%) | $319,465 (-3.5%) | 0.64 | 870 |
2022-01-01 | $238,900 (3.9%) | $318,318 (-4.1%) | 0.65 | 774 |
2022-02-01 | $242,425 (-1.0%) | $334,904 (-0.1%) | 0.63 | 669 |
2022-03-01 | $251,950 (0.8%) | $364,470 (6.8%) | 0.63 | 693 |
2022-04-01 | $285,000 (14.5%) | $371,692 (8.5%) | 0.68 | 714 |
2022-05-01 | $289,900 (21.3%) | $370,590 (10.6%) | 0.66 | 834 |
2022-06-01 | $289,598 (23.2%) | $368,833 (11.5%) | 0.65 | 941 |
2022-07-01 | $280,000 (14.3%) | $358,112 (7.6%) | 0.63 | 1,155 |
2022-08-01 | $279,000 (11.9%) | $349,778 (5.0%) | 0.64 | 1,264 |
2022-09-01 | $284,900 (14.2%) | $349,042 (5.4%) | 0.67 | 1,252 |
2022-10-01 | $296,000 (18.9%) | $355,234 (8.2%) | 0.70 | 1,309 |
2022-11-01 | $289,950 (24.2%) | $343,368 (8.9%) | 0.70 | 1,454 |
2022-12-01 | $299,900 (26.6%) | $347,605 (8.8%) | 0.74 | 1,345 |
2023-01-01 | $300,000 (25.6%) | $348,214 (9.4%) | 0.74 | 1,231 |
2023-02-01 | $304,245 (25.5%) | $350,781 (4.7%) | 0.73 | 1,134 |
2023-03-01 | $303,475 (20.5%) | $351,884 (-3.5%) | 0.71 | 1,124 |
2023-04-01 | $315,000 (10.5%) | $358,437 (-3.6%) | 0.73 | 1,121 |
Little Rock's median listing price comes in at 73% of the national average.
Little Rock's average listing price for 2023-04-01 was $358,437, a difference of $-13,255 (-3.6%) versus the prior year and $6,553 versus the prior month.
For the 2023-04-01 period, Little Rock had 1,121 MLS listings, a difference of -3 listings (0%) versus the prior month and 407 listings (57%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Little Rock (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 82 days | 1,909 sqft |
2018-02-01 | 72 days | 1,910 sqft |
2018-03-01 | 61 days | 1,928 sqft |
2018-04-01 | 61 days | 1,940 sqft |
2018-05-01 | 57 days | 1,951 sqft |
2018-06-01 | 58 days | 1,962 sqft |
2018-07-01 | 60 days | 1,957 sqft |
2018-08-01 | 61 days | 1,955 sqft |
2018-09-01 | 65 days | 1,937 sqft |
2018-10-01 | 68 days | 1,938 sqft |
2018-11-01 | 71 days | 1,920 sqft |
2018-12-01 | 78 days | 1,900 sqft |
2019-01-01 | 79 days | 1,891 sqft |
2019-02-01 | 69 days | 1,895 sqft |
2019-03-01 | 63 days | 1,950 sqft |
2019-04-01 | 59 days | 1,993 sqft |
2019-05-01 | 57 days | 2,004 sqft |
2019-06-01 | 60 days | 2,016 sqft |
2019-07-01 | 61 days | 2,028 sqft |
2019-08-01 | 71 days | 2,043 sqft |
2019-09-01 | 72 days | 2,052 sqft |
2019-10-01 | 67 days | 2,028 sqft |
2019-11-01 | 67 days | 2,025 sqft |
2019-12-01 | 73 days | 2,023 sqft |
2020-01-01 | 70 days | 2,000 sqft |
2020-02-01 | 58 days | 2,049 sqft |
2020-03-01 | 54 days | 2,088 sqft |
2020-04-01 | 58 days | 2,072 sqft |
2020-05-01 | 64 days | 2,145 sqft |
2020-06-01 | 55 days | 2,148 sqft |
2020-07-01 | 51 days | 2,145 sqft |
2020-08-01 | 45 days | 2,150 sqft |
2020-09-01 | 46 days | 2,142 sqft |
2020-10-01 | 45 days | 2,129 sqft |
2020-11-01 | 48 days | 2,123 sqft |
2020-12-01 | 54 days | 2,081 sqft |
2021-01-01 | 58 days | 2,048 sqft |
2021-02-01 | 48 days | 2,063 sqft |
2021-03-01 | 44 days | 2,040 sqft |
2021-04-01 | 32 days | 1,979 sqft |
2021-05-01 | 25 days | 1,936 sqft |
2021-06-01 | 25 days | 1,901 sqft |
2021-07-01 | 25 days | 1,979 sqft |
2021-08-01 | 32 days | 1,977 sqft |
2021-09-01 | 39 days | 1,984 sqft |
2021-10-01 | 43 days | 1,950 sqft |
2021-11-01 | 39 days | 1,911 sqft |
2021-12-01 | 45 days | 1,941 sqft |
2022-01-01 | 50 days | 1,970 sqft |
2022-02-01 | 38 days | 1,929 sqft |
2022-03-01 | 32 days | 1,926 sqft |
2022-04-01 | 26 days | 2,032 sqft |
2022-05-01 | 27 days | 2,038 sqft |
2022-06-01 | 29 days | 2,066 sqft |
2022-07-01 | 29 days | 1,996 sqft |
2022-08-01 | 35 days | 2,020 sqft |
2022-09-01 | 40 days | 2,051 sqft |
2022-10-01 | 39 days | 2,085 sqft |
2022-11-01 | 41 days | 2,039 sqft |
2022-12-01 | 52 days | 2,058 sqft |
2023-01-01 | 53 days | 2,024 sqft |
2023-02-01 | 50 days | 2,009 sqft |
2023-03-01 | 47 days | 1,995 sqft |
2023-04-01 | 42 days | 2,023 sqft |
Little Rock's median square footage for active listings during the 2023-04-01 period was 2,023 sqft. One year prior, the average listing was 2,032 sqft.