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 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 6.29% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Little Rock's average FHA mortgage closing costs are $5,677.

The average rate for the prior week (2022-11-25) was 6.4% and one month ago for the week of 2022-10-28, the average rate was 6.84%.

The average rate one year ago was 3.48%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.02%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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
PRIMARY RESIDENTIAL MORTGAGE, INC. 49 3.86% $7,386
First Horizon Bank 49 2.91% $5,750
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
MID AMERICA MORTGAGE, INC. 35 3.52% $5,445
Regions Bank 35 3.04% $5,569
UNITED WHOLESALE MORTGAGE, LLC 31 2.60% $6,348
VILLAGE CAPITAL MORTGAGE 31 3.06% $2,015
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
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $6,488
MICHIGAN MUTUAL, INC. 1 3.25% $7,654
M&T Bank 1 3.25% $5,142
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.63% $9,385
MEMBER FIRST MORTGAGE, LLC 1 3.25% $6,833
MASON MCDUFFIE MORTGAGE CORPORATION 1 3.13% $6,966
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 MORTGAGE ($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 $175,450 (9.7%) $244,247 (12.8%) 0.65 3,009
2018-02-01 $179,900 (11.6%) $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%) 0.63 3,532
2018-10-01 $189,900 (9.1%) $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 $193,671 (6.7%) $257,967 (5.4%) 0.63 3,110
2019-04-01 $199,900 (7.5%) $266,187 (6.3%) 0.63 3,081
2019-05-01 $199,950 (5.5%) $271,563 (5.6%) 0.62 3,075
2019-06-01 $202,500 (6.6%) $274,515 (6.2%) 0.63 3,072
2019-07-01 $202,450 (6.7%) $274,944 (7.8%) 0.63 3,017
2019-08-01 $204,927 (7.9%) $276,847 (9.9%) 0.65 2,976
2019-09-01 $204,968 (8.5%) $276,354 (9.6%) 0.66 2,917
2019-10-01 $206,000 (8.5%) $276,167 (9.7%) 0.66 2,866
2019-11-01 $203,200 (7.5%) $273,495 (9.1%) 0.67 2,788
2019-12-01 $200,450 (7.2%) $275,965 (10.6%) 0.67 2,615
2020-01-01 $199,950 (8.1%) $276,014 (11.5%) 0.67 2,421
2020-02-01 $209,900 (12.3%) $280,604 (11.9%) 0.69 2,330
2020-03-01 $218,950 (13.1%) $284,403 (10.3%) 0.69 2,323
2020-04-01 $219,000 (9.6%) $283,004 (6.3%) 0.69 2,291
2020-05-01 $230,000 (15.0%) $294,269 (8.4%) 0.70 2,032
2020-06-01 $238,950 (18.0%) $303,795 (10.7%) 0.70 1,869
2020-07-01 $240,225 (18.7%) $310,642 (13.0%) 0.70 1,770
2020-08-01 $244,900 (19.5%) $318,624 (15.1%) 0.70 1,626
2020-09-01 $239,900 (17.0%) $319,848 (15.7%) 0.69 1,492
2020-10-01 $243,000 (18.0%) $328,398 (18.9%) 0.70 1,434
2020-11-01 $239,450 (17.8%) $328,632 (20.2%) 0.70 1,346
2020-12-01 $238,750 (19.1%) $330,007 (19.6%) 0.71 1,218
2021-01-01 $230,000 (15.0%) $330,618 (19.8%) 0.69 1,002
2021-02-01 $244,250 (16.4%) $333,789 (19.0%) 0.71 857
2021-03-01 $249,975 (14.2%) $339,637 (19.4%) 0.71 802
2021-04-01 $245,725 (12.2%) $340,971 (20.5%) 0.67 772
2021-05-01 $235,000 (2.2%) $333,511 (13.3%) 0.62 754
2021-06-01 $234,675 (-1.8%) $329,445 (8.4%) 0.62 828
2021-07-01 $245,000 (2.0%) $331,722 (6.8%) 0.64 1,000
2021-08-01 $247,250 (1.0%) $331,889 (4.2%) 0.66 1,091
2021-09-01 $248,900 (3.8%) $329,905 (3.1%) 0.66 1,098
2021-10-01 $248,900 (2.4%) $327,231 (-0.4%) 0.66 1,010
2021-11-01 $232,000 (-3.1%) $314,168 (-4.4%) 0.62 982
2021-12-01 $235,000 (-1.6%) $318,280 (-3.6%) 0.64 878
2022-01-01 $235,000 (2.2%) $316,540 (-4.3%) 0.64 782
2022-02-01 $239,900 (-1.8%) $333,204 (-0.2%) 0.62 677
2022-03-01 $249,900 (0.0%) $362,474 (6.7%) 0.63 701
2022-04-01 $283,350 (15.3%) $369,590 (8.4%) 0.68 722
2022-05-01 $289,800 (23.3%) $368,882 (10.6%) 0.66 842
2022-06-01 $287,500 (22.5%) $367,316 (11.5%) 0.64 949
2022-07-01 $279,187 (14.0%) $356,834 (7.6%) 0.63 1,164
2022-08-01 $276,250 (11.7%) $348,144 (4.9%) 0.64 1,271
2022-09-01 $282,475 (13.5%) $347,412 (5.3%) 0.66 1,259
2022-10-01 $295,000 (18.5%) $354,053 (8.2%) 0.69 1,318
2022-11-01 $287,500 (23.9%) $342,374 (9.0%) 0.69 1,463
Little Rock's median listing price for 2022-11-01 was $287,500, a difference of $55,500 (23.9%) versus the prior year and $-7,500 versus the prior month.

Little Rock's median listing price comes in at 69% of the national average.

Little Rock's average listing price for 2022-11-01 was $342,374, a difference of $28,206 (9.0%) versus the prior year and $-11,679 versus the prior month.

For the 2022-11-01 period, Little Rock had 1,463 MLS listings, a difference of 145 listings (11%) versus the prior month and 481 listings (49%) 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 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 1,938 sqft
2019-04-01 59 days 1,993 sqft
2019-05-01 57 days 2,002 sqft
2019-06-01 60 days 2,015 sqft
2019-07-01 61 days 2,026 sqft
2019-08-01 63 days 2,036 sqft
2019-09-01 65 days 2,029 sqft
2019-10-01 66 days 2,027 sqft
2019-11-01 67 days 2,023 sqft
2019-12-01 73 days 2,021 sqft
2020-01-01 70 days 2,000 sqft
2020-02-01 58 days 2,046 sqft
2020-03-01 54 days 2,084 sqft
2020-04-01 59 days 2,069 sqft
2020-05-01 64 days 2,140 sqft
2020-06-01 55 days 2,143 sqft
2020-07-01 51 days 2,143 sqft
2020-08-01 46 days 2,149 sqft
2020-09-01 46 days 2,136 sqft
2020-10-01 45 days 2,115 sqft
2020-11-01 48 days 2,120 sqft
2020-12-01 54 days 2,068 sqft
2021-01-01 58 days 2,025 sqft
2021-02-01 49 days 2,049 sqft
2021-03-01 45 days 2,017 sqft
2021-04-01 33 days 1,957 sqft
2021-05-01 26 days 1,914 sqft
2021-06-01 25 days 1,892 sqft
2021-07-01 25 days 1,969 sqft
2021-08-01 33 days 1,970 sqft
2021-09-01 39 days 1,975 sqft
2021-10-01 43 days 1,946 sqft
2021-11-01 39 days 1,903 sqft
2021-12-01 46 days 1,932 sqft
2022-01-01 50 days 1,947 sqft
2022-02-01 39 days 1,917 sqft
2022-03-01 32 days 1,908 sqft
2022-04-01 26 days 2,022 sqft
2022-05-01 27 days 2,022 sqft
2022-06-01 30 days 2,059 sqft
2022-07-01 30 days 1,986 sqft
2022-08-01 36 days 2,009 sqft
2022-09-01 41 days 2,042 sqft
2022-10-01 39 days 2,082 sqft
2022-11-01 41 days 2,033 sqft
Little Rock's median listing age (time on market) for 2022-11-01 was 41 days. This is 5% longer than the same period one year ago.

Little Rock's median square footage for active listings during the 2022-11-01 period was 2,033 sqft. One year prior, the average listing was 1,903 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).