Little Rock FHA Loans

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 142 lenders originated 4,009 FHA loans during 2021. The total origination value was $719,605,000, with an average FHA loan value of $179,497.

Little Rock FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Little Rock averaged 5.37% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.38% and one month ago for the week of 2022-04-15, the average rate was 4.97%.

The average rate one year ago was 3.24%.

For refis of the same type during the week of 2022-05-20, the average rate was 5%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Little Rock level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 398 2.74% $5,669
MORTGAGE FINANCIAL SERVICES, LLC 238 3.23% $6,698
FirstTrust Home Loans, Inc. 230 3.10% $6,454
Bank of England 193 3.14% $7,088
Arvest Bank 170 2.94% $5,757
PILGRIM MORTGAGE LLC 163 3.35% $8,120
Eagle Bank and Trust Company 157 2.87% $6,220
Centennial Bank 146 2.91% $6,207
PENNYMAC LOAN SERVICES, LLC 99 3.08% $4,255
FLAT BRANCH MORTGAGE, INC. 90 3.21% $6,314
Mr. Cooper ( Nationstar Mortgage ) 88 3.28% $2,875
FREEDOM MORTGAGE CORPORATION 86 2.95% $3,959
LAKEVIEW LOAN SERVICING, LLC 82 3.05% $4,028
SENTE MORTGAGE, INC. 73 3.09% $6,547
Simmons Bank 67 2.82% $6,215
CORNERSTONE HOME LENDING, INC. 66 3.40% $7,193
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 58 3.17% $6,569
First Security Bank 51 2.67% $5,666
GUARANTEED RATE, INC. 50 3.02% $6,329
First Horizon Bank 49 2.91% $5,750
PRIMARY RESIDENTIAL MORTGAGE, INC. 49 3.86% $7,386
Gateway First Bank 48 3.27% $4,858
COMMUNITY MORTGAGE CORPORATION 46 2.90% $6,282
BROKER SOLUTIONS, INC. 42 3.41% $6,531
CALIBER HOME LOANS, INC. 39 2.75% $5,085
Regions Bank 35 3.04% $5,569
MID AMERICA MORTGAGE, INC. 35 3.52% $5,445
VILLAGE CAPITAL & INVESTMENT LLC 31 3.06% $2,015
UNITED WHOLESALE MORTGAGE, LLC 31 2.60% $6,348
HOMEBRIDGE FINANCIAL SERVICES, INC. 30 2.55% $4,826
First Community Bank 29 2.88% $6,331
DAS Acquisition Company, LLC 27 3.44% $5,790
Citizens Bank 26 2.85% $5,881
Sierra Pacific Mortgage Company, Inc. 20 3.03% $7,286
U.S. Bank 19 2.99% $5,786
Carrington Mortgage Services, LLC 19 3.53% $6,785
LOANDEPOT.COM, LLC 17 3.34% $6,989
ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 3.23% $5,236
Paramount Residential Mortgage Group, Inc. 15 3.69% $8,516
AMCAP MORTGAGE, LTD. 14 3.17% $6,764
ENCORE BANK 14 2.58% $6,064
First Guaranty Mortgage Corporation 13 2.88% $4,637
NEWREZ LLC 13 3.02% $3,164
First Option Mortgage, LLC 12 3.22% $7,373
Bank of America 12 2.78% $4,783
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 3.37% $7,005
EVERETT FINANCIAL, INC. 12 3.60% $5,089
Chambers Bank 11 2.78% $5,950
The Home Loan Expert LLC 11 2.76% $6,419
ACADEMY MORTGAGE CORPORATION 10 3.45% $8,962
PLANET HOME LENDING, LLC 10 2.79% $3,465
First Financial Bank 9 2.81% $6,116
BancorpSouth Bank 9 2.89% $5,490
Reliant Bank 8 3.06% $6,785
Mortgage Research Center, LLC 7 3.00% $5,270
SWBC MORTGAGE CORPORATION 7 3.11% $6,361
AMERISAVE MORTGAGE CORPORATION 7 3.39% $6,922
OCEANSIDE MORTGAGE COMPANY 7 2.84% $2,615
AMERICAN FINANCIAL NETWORK, INC. 6 2.92% $8,640
Barrington Bank & Trust Company, N.A. 6 3.52% $5,321
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 3.06% $7,930
TELCOE FEDERAL CREDIT UNION 5 3.00% $6,309
MORTGAGE INVESTORS GROUP, INC. 5 3.05% $8,443
ZILLOW HOME LOANS, LLC 4 3.00% $6,300
Nations Lending Corporation 4 3.06% $7,369
COUNTRYPLACE MORTGAGE, LTD. 4 3.25% $14,654
SECURITYNATIONAL MORTGAGE COMPANY 4 2.88% $6,193
HOME POINT FINANCIAL CORPORATION 4 2.72% $4,057
PHH Mortgage Corporation 4 3.59% $4,971
United Fidelity Funding Corp. 4 2.75% $6,699
Magnolia Bank 4 3.03% $6,234
GMFS LLC 3 2.79% $6,576
GERSHMAN INVESTMENT CORP. 3 2.50% $5,303
AMERICAN FINANCIAL RESOURCES, INC. 3 3.58% $4,986
EMBRACE HOME LOANS, INC. 3 2.95% $7,038
RELIANCE FIRST CAPITAL, LLC 3 2.58% $8,822
GUILD MORTGAGE COMPANY 3 3.04% $7,966
FBC MORTGAGE, LLC 3 3.17% $5,797
SUN WEST MORTGAGE COMPANY, INC. 2 3.88% $6,940
FIRST COMMUNITY MORTGAGE, INC. 2 2.50% $6,263
GSF Mortgage Corporation 2 3.63% $4,841
HOMESTAR FINANCIAL CORPORATION 2 3.69% $4,350
LEADERONE FINANCIAL CORPORATION 2 3.25% $9,457
Low VA Rates, LLC 2 2.56% $3,732
Plains Commerce Bank 2 3.25% $6,847
RESIDENTIAL BANCORP. 2 2.68% $6,797
SOUTHWEST FUNDING, LP 2 3.81% $7,118
SOUTHWEST STAGE FUNDING, LLC 2 3.25% $2,664
SOVEREIGN LENDING GROUP INCORPORATED 2 3.50% $8,107
The Federal Savings Bank 2 3.75% $4,484
TOP FLITE FINANCIAL, INC. 2 3.31% $8,032
Total Media Management, LLC 2 2.81% $6,432
UNION HOME MORTGAGE CORP. 2 3.38% $6,399
WILLOW BEND MORTGAGE COMPANY, LLC 2 2.75% $7,702
Independent Bank 1 2.75% $5,030
Peoples Bank 1 3.25% $8,973
Hometown Lenders, Inc. 1 4.75% $7,625
GUARANTY HOME MORTGAGE CORPORATION 1 2.50% $4,592
Triumph Bank 1 2.88% $4,944
Flanagan State Bank 1 2.25% $4,861
Platinum Home Mortgage Corporation 1 3.00% $7,591
PLAZA HOME MORTGAGE, INC. 1 2.88% $10,023
PNC Bank 1 2.88% $6,912
POLARIS HOME FUNDING CORP. 1 3.13% $6,035
PREMIA MORTGAGE, LLC 1 2.63% $4,197
First United Bank and Trust Company 1 3.13% $6,504
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.25% $4,670
Princeton Mortgage Corporation 1 3.25% $5,484
FirstBank 1 2.88% $5,201
Red River Bank 1 2.63% $7,631
Fidelity Bank 1 2.50% $4,394
EMM LOANS LLC 1 2.63% $8,190
COMMUNITYAMERICA 1 3.25% $5,449
Renasant Bank 1 2.99% $7,901
Wyndham Capital Mortgage, Inc. 1 2.75% $7,138
ROYAL UNITED MORTGAGE LLC 1 3.88% $5,565
RUOFF MORTGAGE COMPANY, INC. 1 3.38% $4,440
Colonial Savings, F.A. 1 2.50% $6,437
CMG MORTGAGE, INC. 1 2.88% $6,026
CityWorth Mortgage LLC 1 3.13% $5,893
CITYWIDE HOME LOANS, LLC 1 2.99% $6,926
Assurance Financial Group, L.L.C. 1 2.63% $8,863
ARC HOME LLC 1 2.50% $10,568
Amerifirst Financial, Inc. 1 2.75% $2,758
CHURCHILL MORTGAGE CORPORATION 1 3.25% $6,083
CHERRY CREEK MORTGAGE, LLC 1 3.13% $4,499
BETTER MORTGAGE CORPORATION 1 3.13% $6,302
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.50% $8,918
Austin Capital Bank SSB 1 3.00% $9,077
TIAA, FSB 1 2.25% $5,637
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.75% $6,735
AMERICAN ADVISORS GROUP 1 2.75% $4,944
Midwest BankCentre 1 2.75% $7,411
MICHIGAN MUTUAL, INC. 1 3.25% $7,654
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $6,488
MEMBER FIRST MORTGAGE, LLC 1 3.25% $6,833
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.63% $9,385
MASON MCDUFFIE MORTGAGE CORPORATION 1 3.13% $6,966
Manufacturers and Traders Trust Company 1 3.25% $5,142
KELLER MORTGAGE, LLC 1 2.75% $8,371
ON Q FINANCIAL, INC. 1 3.49% $6,726
InterContinental Capital Group, Inc 1 3.25% $7,223

The top Little Rock FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 398 FHA loans originated. Their average total fees are $5,669, which is $1,028 lower than the next largest lender, MORTGAGE FINANCIAL SERVICES, LLC.

The lowest fee Little Rock FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,015), Mr. Cooper ( Nationstar Mortgage ) ($2,875), NEWREZ LLC ($3,164), PLANET HOME LENDING, LLC ($3,465) and FREEDOM MORTGAGE CORPORATION ($3,959).

The lowest rate Little Rock FHA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. (2.55%), ENCORE BANK (2.58%), UNITED WHOLESALE MORTGAGE, LLC (2.60%), First Security Bank (2.67%) and QUICKEN LOANS, LLC (2.74%).

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Little Rock (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $173,250 (9.9%) $242,988 (13.0%) 0.64 2,916
2018-02-01 $174,950 (9.7%) $244,044 (12.4%) 0.63 2,892
2018-03-01 $179,900 (9.1%) $243,616 (9.7%) 0.62 2,914
2018-04-01 $181,450 (10.0%) $248,411 (10.2%) 0.61 2,963
2018-05-01 $185,000 (11.6%) $255,155 (12.0%) 0.62 3,117
2018-06-01 $185,000 (9.3%) $256,122 (10.2%) 0.62 3,196
2018-07-01 $185,500 (9.2%) $252,159 (7.6%) 0.62 3,297
2018-08-01 $185,000 (8.9%) $249,151 (6.5%) 0.62 3,339
2018-09-01 $185,000 (8.8%) $250,211 (7.1%) 0.62 3,396
2018-10-01 $189,000 (11.2%) $249,979 (7.6%) 0.63 3,497
2018-11-01 $185,500 (9.1%) $249,375 (6.4%) 0.62 3,330
2018-12-01 $185,000 (8.8%) $248,524 (4.3%) 0.63 3,213
2019-01-01 $182,750 (5.5%) $247,374 (1.8%) 0.63 3,076
2019-02-01 $185,400 (6.0%) $250,212 (2.5%) 0.62 3,011
2019-03-01 $192,214 (6.9%) $256,891 (5.5%) 0.63 2,955
2019-04-01 $198,750 (9.5%) $264,046 (6.3%) 0.63 2,917
2019-05-01 $199,900 (8.1%) $270,808 (6.1%) 0.62 2,912
2019-06-01 $199,900 (8.1%) $272,992 (6.6%) 0.62 2,904
2019-07-01 $199,900 (7.8%) $274,045 (8.7%) 0.62 2,852
2019-08-01 $199,900 (8.1%) $276,101 (10.8%) 0.63 2,806
2019-09-01 $199,900 (8.1%) $275,548 (10.1%) 0.63 2,749
2019-10-01 $199,900 (5.8%) $276,349 (10.6%) 0.64 2,706
2019-11-01 $199,900 (7.8%) $272,560 (9.3%) 0.65 2,642
2019-12-01 $199,900 (8.1%) $275,391 (10.8%) 0.67 2,488
2020-01-01 $199,400 (9.1%) $277,123 (12.0%) 0.66 2,322
2020-02-01 $205,000 (10.6%) $279,424 (11.7%) 0.66 2,228
2020-03-01 $213,450 (11.1%) $282,463 (10.0%) 0.67 2,179
2020-04-01 $212,600 (7.0%) $280,170 (6.1%) 0.66 2,156
2020-05-01 $229,000 (14.6%) $292,566 (8.0%) 0.69 1,900
2020-06-01 $235,000 (17.6%) $301,109 (10.3%) 0.69 1,747
2020-07-01 $232,493 (16.3%) $307,236 (12.1%) 0.67 1,650
2020-08-01 $235,000 (17.6%) $315,027 (14.1%) 0.67 1,525
2020-09-01 $235,000 (17.6%) $317,304 (15.2%) 0.67 1,424
2020-10-01 $235,000 (17.6%) $325,847 (17.9%) 0.67 1,363
2020-11-01 $235,000 (17.6%) $326,271 (19.7%) 0.67 1,281
2020-12-01 $233,950 (17.0%) $328,633 (19.3%) 0.69 1,170
2021-01-01 $227,900 (14.3%) $332,075 (19.8%) 0.67 960
2021-02-01 $242,450 (18.3%) $335,415 (20.0%) 0.70 823
2021-03-01 $249,450 (16.9%) $343,411 (21.6%) 0.70 744
2021-04-01 $244,000 (14.8%) $347,767 (24.1%) 0.66 729
2021-05-01 $234,500 (2.4%) $336,656 (15.1%) 0.62 708
2021-06-01 $230,000 (-2.1%) $330,835 (9.9%) 0.60 779
2021-07-01 $242,500 (4.3%) $332,794 (8.3%) 0.63 926
2021-08-01 $244,450 (4.0%) $330,906 (5.0%) 0.64 1,056
2021-09-01 $244,450 (4.0%) $327,806 (3.3%) 0.64 1,062
2021-10-01 $240,000 (2.1%) $324,431 (-0.4%) 0.63 971
2021-11-01 $227,500 (-3.2%) $313,755 (-3.8%) 0.60 950
2021-12-01 $235,000 (0.5%) $317,086 (-3.5%) 0.63 862
2022-01-01 $235,000 (3.1%) $312,405 (-5.9%) 0.63 753
2022-02-01 $236,950 (-2.3%) $330,705 (-1.4%) 0.60 661
2022-03-01 $249,950 (0.2%) $361,387 (5.2%) 0.62 666
2022-04-01 $279,900 (14.7%) $366,289 (5.3%) 0.66 674
Little Rock's median listing price for 2022-04-01 was $279,900, a difference of $35,900 (14.7%) versus the prior year and $29,950 versus the prior month.

Little Rock's median listing price comes in at 66% of the national average.

Little Rock's average listing price for 2022-04-01 was $366,289, a difference of $18,522 (5.3%) versus the prior year and $4,902 versus the prior month.

For the 2022-04-01 period, Little Rock had 674 MLS listings, a difference of 8 listings (1%) versus the prior month and -55 listings (-8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Little Rock (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 81 days 1,888 sqft
2018-02-01 70 days 1,883 sqft
2018-03-01 59 days 1,902 sqft
2018-04-01 59 days 1,917 sqft
2018-05-01 56 days 1,937 sqft
2018-06-01 57 days 1,940 sqft
2018-07-01 59 days 1,936 sqft
2018-08-01 60 days 1,934 sqft
2018-09-01 64 days 1,914 sqft
2018-10-01 67 days 1,919 sqft
2018-11-01 70 days 1,906 sqft
2018-12-01 77 days 1,880 sqft
2019-01-01 76 days 1,879 sqft
2019-02-01 67 days 1,884 sqft
2019-03-01 61 days 1,926 sqft
2019-04-01 57 days 1,973 sqft
2019-05-01 55 days 1,991 sqft
2019-06-01 59 days 2,000 sqft
2019-07-01 60 days 2,006 sqft
2019-08-01 63 days 2,017 sqft
2019-09-01 63 days 2,011 sqft
2019-10-01 63 days 2,013 sqft
2019-11-01 65 days 1,998 sqft
2019-12-01 70 days 1,998 sqft
2020-01-01 70 days 1,988 sqft
2020-02-01 55 days 2,032 sqft
2020-03-01 52 days 2,067 sqft
2020-04-01 57 days 2,046 sqft
2020-05-01 62 days 2,108 sqft
2020-06-01 54 days 2,103 sqft
2020-07-01 49 days 2,106 sqft
2020-08-01 43 days 2,128 sqft
2020-09-01 45 days 2,119 sqft
2020-10-01 45 days 2,100 sqft
2020-11-01 49 days 2,096 sqft
2020-12-01 54 days 2,048 sqft
2021-01-01 60 days 2,057 sqft
2021-02-01 48 days 2,050 sqft
2021-03-01 46 days 2,000 sqft
2021-04-01 36 days 1,940 sqft
2021-05-01 28 days 1,890 sqft
2021-06-01 28 days 1,866 sqft
2021-07-01 25 days 1,959 sqft
2021-08-01 35 days 1,968 sqft
2021-09-01 40 days 1,956 sqft
2021-10-01 44 days 1,943 sqft
2021-11-01 42 days 1,894 sqft
2021-12-01 47 days 1,922 sqft
2022-01-01 53 days 1,930 sqft
2022-02-01 45 days 1,891 sqft
2022-03-01 38 days 1,888 sqft
2022-04-01 29 days 2,000 sqft
Little Rock's median listing age (time on market) for 2022-04-01 was 29 days. This is -18% shorter than the same period one year ago.

Little Rock's median square footage for active listings during the 2022-04-01 period was 2,000 sqft. One year prior, the average listing was 1,940 sqft.

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).