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
0%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Little Rock's average FHA mortgage closing costs are $6,481.
The average rate for the prior week (2024-11-22) was
6.39% and
one month ago for the week of 2024-10-25, the
average rate was 6.27%.
The average rate one year ago was 6.96%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.04%.
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
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 |
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%) | $244,331 (12.8%) | 0.65 | 3,008 |
2018-02-01 | $179,900 (11.5%) | $245,904 (12.3%) | 0.65 | 2,995 |
2018-03-01 | $181,700 (7.7%) | $244,910 (9.0%) | 0.64 | 3,030 |
2018-04-01 | $186,000 (10.1%) | $250,433 (10.7%) | 0.63 | 3,070 |
2018-05-01 | $189,500 (11.5%) | $257,179 (11.5%) | 0.63 | 3,230 |
2018-06-01 | $189,900 (10.1%) | $258,144 (9.6%) | 0.63 | 3,318 |
2018-07-01 | $189,700 (8.5%) | $254,737 (7.6%) | 0.63 | 3,422 |
2018-08-01 | $189,900 (9.0%) | $251,646 (6.7%) | 0.64 | 3,469 |
2018-09-01 | $189,000 (8.1%) | $251,925 (6.9%) | 0.64 | 3,530 |
2018-10-01 | $189,900 (9.1%) | $251,662 (7.2%) | 0.64 | 3,641 |
2018-11-01 | $189,575 (8.6%) | $251,143 (6.4%) | 0.64 | 3,466 |
2018-12-01 | $188,650 (7.9%) | $250,221 (4.1%) | 0.65 | 3,351 |
2019-01-01 | $185,000 (5.4%) | $248,271 (1.6%) | 0.64 | 3,212 |
2019-02-01 | $187,875 (4.4%) | $251,484 (2.3%) | 0.63 | 3,133 |
2019-03-01 | $194,177 (6.9%) | $258,861 (5.7%) | 0.64 | 3,088 |
2019-04-01 | $199,925 (7.5%) | $267,156 (6.7%) | 0.63 | 3,058 |
2019-05-01 | $202,250 (6.7%) | $272,654 (6.0%) | 0.63 | 3,051 |
2019-06-01 | $205,000 (8.0%) | $275,687 (6.8%) | 0.64 | 3,046 |
2019-07-01 | $206,200 (8.7%) | $276,181 (8.4%) | 0.65 | 2,991 |
2019-08-01 | $207,882 (9.5%) | $278,146 (10.5%) | 0.66 | 2,949 |
2019-09-01 | $208,455 (10.3%) | $277,680 (10.2%) | 0.67 | 2,889 |
2019-10-01 | $209,400 (10.3%) | $277,511 (10.3%) | 0.68 | 2,838 |
2019-11-01 | $205,000 (8.1%) | $274,075 (9.1%) | 0.67 | 2,761 |
2019-12-01 | $203,900 (8.1%) | $276,556 (10.5%) | 0.68 | 2,603 |
2020-01-01 | $200,625 (8.5%) | $276,571 (11.4%) | 0.67 | 2,409 |
2020-02-01 | $210,000 (11.8%) | $281,206 (11.8%) | 0.69 | 2,316 |
2020-03-01 | $219,500 (13.0%) | $285,048 (10.1%) | 0.69 | 2,310 |
2020-04-01 | $219,250 (9.7%) | $283,617 (6.2%) | 0.69 | 2,278 |
2020-05-01 | $232,950 (15.2%) | $295,020 (8.2%) | 0.71 | 2,019 |
2020-06-01 | $239,450 (16.8%) | $304,708 (10.5%) | 0.71 | 1,856 |
2020-07-01 | $244,000 (18.3%) | $311,645 (12.8%) | 0.71 | 1,757 |
2020-08-01 | $245,000 (17.9%) | $319,699 (14.9%) | 0.70 | 1,614 |
2020-09-01 | $240,575 (15.4%) | $320,572 (15.5%) | 0.69 | 1,483 |
2020-10-01 | $244,500 (16.8%) | $329,144 (18.6%) | 0.70 | 1,425 |
2020-11-01 | $240,825 (17.5%) | $329,422 (20.2%) | 0.70 | 1,338 |
2020-12-01 | $239,450 (17.4%) | $330,942 (19.7%) | 0.71 | 1,209 |
2021-01-01 | $230,000 (14.6%) | $331,887 (20.0%) | 0.69 | 993 |
2021-02-01 | $244,950 (16.6%) | $335,296 (19.2%) | 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 (20.8%) | 0.67 | 763 |
2021-05-01 | $239,000 (2.6%) | $334,528 (13.4%) | 0.63 | 745 |
2021-06-01 | $235,000 (-1.9%) | $330,199 (8.4%) | 0.62 | 819 |
2021-07-01 | $245,000 (0.4%) | $332,199 (6.6%) | 0.65 | 989 |
2021-08-01 | $249,450 (1.8%) | $332,586 (4.0%) | 0.67 | 1,081 |
2021-09-01 | $249,450 (3.7%) | $330,521 (3.1%) | 0.67 | 1,089 |
2021-10-01 | $249,000 (1.8%) | $328,028 (-0.3%) | 0.66 | 1,000 |
2021-11-01 | $233,450 (-3.1%) | $314,851 (-4.4%) | 0.62 | 972 |
2021-12-01 | $236,950 (-1.0%) | $319,135 (-3.6%) | 0.64 | 868 |
2022-01-01 | $238,900 (3.9%) | $317,773 (-4.3%) | 0.65 | 772 |
2022-02-01 | $242,425 (-1.0%) | $334,573 (-0.2%) | 0.63 | 667 |
2022-03-01 | $251,950 (0.8%) | $364,229 (6.7%) | 0.63 | 691 |
2022-04-01 | $285,000 (14.5%) | $371,468 (8.4%) | 0.68 | 712 |
2022-05-01 | $289,900 (21.3%) | $370,416 (10.7%) | 0.66 | 833 |
2022-06-01 | $289,799 (23.3%) | $369,099 (11.8%) | 0.65 | 940 |
2022-07-01 | $280,000 (14.3%) | $358,317 (7.9%) | 0.63 | 1,154 |
2022-08-01 | $279,000 (11.9%) | $349,323 (5.0%) | 0.65 | 1,262 |
2022-09-01 | $284,900 (14.2%) | $348,585 (5.5%) | 0.67 | 1,250 |
2022-10-01 | $296,750 (19.2%) | $355,194 (8.3%) | 0.70 | 1,309 |
2022-11-01 | $289,950 (24.2%) | $343,642 (9.1%) | 0.70 | 1,453 |
2022-12-01 | $299,900 (26.6%) | $347,772 (9.0%) | 0.74 | 1,344 |
2023-01-01 | $300,000 (25.6%) | $348,249 (9.6%) | 0.74 | 1,230 |
2023-02-01 | $303,745 (25.3%) | $350,781 (4.8%) | 0.73 | 1,134 |
2023-03-01 | $303,500 (20.5%) | $352,093 (-3.3%) | 0.72 | 1,123 |
2023-04-01 | $315,000 (10.5%) | $358,708 (-3.4%) | 0.73 | 1,119 |
2023-05-01 | $313,450 (8.1%) | $366,326 (-1.1%) | 0.71 | 1,172 |
2023-06-01 | $321,500 (10.9%) | $377,181 (2.2%) | 0.72 | 1,236 |
2023-07-01 | $325,000 (16.1%) | $386,719 (7.9%) | 0.74 | 1,287 |
2023-08-01 | $320,450 (14.9%) | $381,768 (9.3%) | 0.74 | 1,320 |
2023-09-01 | $319,900 (12.3%) | $367,463 (5.4%) | 0.74 | 1,490 |
2023-10-01 | $295,000 (-0.6%) | $352,688 (-0.7%) | 0.69 | 1,682 |
2023-11-01 | $299,450 (3.3%) | $360,011 (4.8%) | 0.71 | 1,748 |
2023-12-01 | $299,900 (0.0%) | $356,070 (2.4%) | 0.73 | 1,756 |
2024-01-01 | $296,500 (-1.2%) | $350,901 (0.8%) | 0.72 | 1,669 |
2024-02-01 | $299,450 (-1.4%) | $353,066 (0.7%) | 0.72 | 1,641 |
2024-03-01 | $309,900 (2.1%) | $361,595 (2.7%) | 0.73 | 1,633 |
2024-04-01 | $315,000 (0.0%) | $372,747 (3.9%) | 0.73 | 1,653 |
2024-05-01 | $311,125 (-0.7%) | $373,294 (1.9%) | 0.70 | 1,812 |
2024-06-01 | $299,900 (-6.7%) | $367,813 (-2.5%) | 0.67 | 2,013 |
2024-07-01 | $296,500 (-8.8%) | $364,066 (-5.9%) | 0.68 | 2,218 |
2024-08-01 | $290,000 (-9.5%) | $360,886 (-5.5%) | 0.67 | 2,361 |
2024-09-01 | $291,000 (-9.0%) | $356,316 (-3.0%) | 0.68 | 2,463 |
2024-10-01 | $289,000 (-2.0%) | $354,101 (0.4%) | 0.68 | 2,462 |
Little Rock's median listing price comes in at 68% of the national average.
Little Rock's average listing price for 2024-10-01 was $354,101, a difference of $1,413 (0.4%) versus the prior year and $-2,215 versus the prior month.
For the 2024-10-01 period, Little Rock had 2,462 MLS listings, a difference of -1 listings (0%) versus the prior month and 780 listings (46%) 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 | 77 days | 1,909 sqft |
2018-02-01 | 66 days | 1,910 sqft |
2018-03-01 | 55 days | 1,928 sqft |
2018-04-01 | 55 days | 1,940 sqft |
2018-05-01 | 52 days | 1,952 sqft |
2018-06-01 | 53 days | 1,962 sqft |
2018-07-01 | 55 days | 1,957 sqft |
2018-08-01 | 57 days | 1,955 sqft |
2018-09-01 | 60 days | 1,937 sqft |
2018-10-01 | 64 days | 1,942 sqft |
2018-11-01 | 66 days | 1,925 sqft |
2018-12-01 | 74 days | 1,902 sqft |
2019-01-01 | 72 days | 1,900 sqft |
2019-02-01 | 63 days | 1,901 sqft |
2019-03-01 | 55 days | 1,945 sqft |
2019-04-01 | 55 days | 1,998 sqft |
2019-05-01 | 53 days | 2,012 sqft |
2019-06-01 | 58 days | 2,022 sqft |
2019-07-01 | 59 days | 2,035 sqft |
2019-08-01 | 60 days | 2,047 sqft |
2019-09-01 | 63 days | 2,037 sqft |
2019-10-01 | 63 days | 2,035 sqft |
2019-11-01 | 65 days | 2,026 sqft |
2019-12-01 | 71 days | 2,025 sqft |
2020-01-01 | 68 days | 2,000 sqft |
2020-02-01 | 55 days | 2,050 sqft |
2020-03-01 | 52 days | 2,094 sqft |
2020-04-01 | 56 days | 2,074 sqft |
2020-05-01 | 62 days | 2,146 sqft |
2020-06-01 | 52 days | 2,149 sqft |
2020-07-01 | 46 days | 2,148 sqft |
2020-08-01 | 43 days | 2,150 sqft |
2020-09-01 | 44 days | 2,142 sqft |
2020-10-01 | 44 days | 2,129 sqft |
2020-11-01 | 46 days | 2,123 sqft |
2020-12-01 | 52 days | 2,081 sqft |
2021-01-01 | 56 days | 2,048 sqft |
2021-02-01 | 45 days | 2,063 sqft |
2021-03-01 | 40 days | 2,040 sqft |
2021-04-01 | 31 days | 1,979 sqft |
2021-05-01 | 25 days | 1,936 sqft |
2021-06-01 | 24 days | 1,899 sqft |
2021-07-01 | 24 days | 1,978 sqft |
2021-08-01 | 32 days | 1,976 sqft |
2021-09-01 | 38 days | 1,978 sqft |
2021-10-01 | 40 days | 1,949 sqft |
2021-11-01 | 37 days | 1,910 sqft |
2021-12-01 | 45 days | 1,939 sqft |
2022-01-01 | 47 days | 1,969 sqft |
2022-02-01 | 36 days | 1,928 sqft |
2022-03-01 | 30 days | 1,925 sqft |
2022-04-01 | 25 days | 2,027 sqft |
2022-05-01 | 26 days | 2,034 sqft |
2022-06-01 | 29 days | 2,065 sqft |
2022-07-01 | 29 days | 1,996 sqft |
2022-08-01 | 34 days | 2,020 sqft |
2022-09-01 | 39 days | 2,048 sqft |
2022-10-01 | 38 days | 2,084 sqft |
2022-11-01 | 40 days | 2,043 sqft |
2022-12-01 | 51 days | 2,058 sqft |
2023-01-01 | 52 days | 2,024 sqft |
2023-02-01 | 48 days | 2,009 sqft |
2023-03-01 | 46 days | 1,996 sqft |
2023-04-01 | 40 days | 2,025 sqft |
2023-05-01 | 38 days | 2,088 sqft |
2023-06-01 | 39 days | 2,117 sqft |
2023-07-01 | 39 days | 2,146 sqft |
2023-08-01 | 40 days | 2,121 sqft |
2023-09-01 | 38 days | 2,104 sqft |
2023-10-01 | 43 days | 1,976 sqft |
2023-11-01 | 46 days | 2,000 sqft |
2023-12-01 | 56 days | 1,991 sqft |
2024-01-01 | 54 days | 1,957 sqft |
2024-02-01 | 52 days | 1,952 sqft |
2024-03-01 | 45 days | 1,991 sqft |
2024-04-01 | 45 days | 2,035 sqft |
2024-05-01 | 38 days | 2,049 sqft |
2024-06-01 | 41 days | 1,994 sqft |
2024-07-01 | 45 days | 1,946 sqft |
2024-08-01 | 46 days | 1,925 sqft |
2024-09-01 | 50 days | 1,920 sqft |
2024-10-01 | 54 days | 1,904 sqft |
Little Rock's median square footage for active listings during the 2024-10-01 period was 1,904 sqft. One year prior, the average listing was 1,976 sqft.