Mountain Home FHA Loan Rates, Closing Costs & Stats

Mountain Home, 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.

Mountain Home's 27 lenders originated 145 FHA loans during 2021. The total origination value was $20,555,000, with an average FHA loan value of $141,759.

Mountain Home FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Mountain Home averaged 6.49% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Mountain Home's average FHA mortgage closing costs are $4,858.

The average rate for the prior week (2022-11-25) was 6.11% and one month ago for the week of 2022-10-28, the average rate was 6.85%.

The average rate one year ago was 3.38%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.31%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Mountain Home 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 Mountain Home level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Plains Commerce Bank 18 2.85% $8,492
QUICKEN LOANS, LLC 16 2.74% $5,685
FREEDOM MORTGAGE CORPORATION 15 2.88% $4,126
Arvest Bank 7 2.96% $4,374
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 3.23% $6,445
LAKEVIEW LOAN SERVICING, LLC 5 3.42% $2,808
First Security Bank 3 2.88% $5,457
DAS Acquisition Company, LLC 3 3.54% $5,805
PENNYMAC LOAN SERVICES, LLC 3 3.54% $3,380
First Community Bank 2 2.75% $5,699
Mr. Cooper ( Nationstar Mortgage ) 2 3.63% $1,032
Bank of England 2 4.00% $5,940
NEWREZ LLC 2 3.25% $4,972
ACADEMY MORTGAGE CORPORATION 1 2.50% $7,500
VILLAGE CAPITAL MORTGAGE 1 2.99% $1,205
AMERICAN FINANCIAL NETWORK, INC. 1 2.50% $8,386
AMERICAN FINANCING CORPORATION 1 2.75% $3,828
Barrington Bank & Trust Company, N.A. 1 3.13% $5,443
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.75% $4,529
Carrington Mortgage Services, LLC 1 2.50% $6,534
Centennial Bank 1 3.00% $7,940
Equity Prime Mortgage LLC 1 3.88% $2,880
EVERETT FINANCIAL, INC. 1 3.00% $4,195
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.63% $2,414
FirstTrust Home Loans, Inc. 1 3.00% $7,252
Nations Lending Corporation 1 2.63% $9,420
TJC Mortgage, Inc. 1 3.13% $5,623

The top Mountain Home FHA lender as defined by loan originations is Plains Commerce Bank, with 18 FHA loans originated. Their average total fees are $8,492, which is $2,807 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Mountain Home FHA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($4,126), QUICKEN LOANS, LLC ($5,685), Plains Commerce Bank ($8,492), .

The lowest rate Mountain Home FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.74%), Plains Commerce Bank (2.85%), FREEDOM MORTGAGE CORPORATION (2.88%), .

Mountain Home FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
MOUNTAIN HOME, AR BAXTER 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Mountain Home (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 $159,900 (6.7%) $234,211 (10.6%) 0.00 331
2018-02-01 $155,925 (4.0%) $232,536 (8.9%) 0.00 325
2018-03-01 $169,125 (6.1%) $239,974 (11.8%) 0.00 332
2018-04-01 $169,413 (2.4%) $233,165 (4.6%) 0.00 349
2018-05-01 $170,925 (4.3%) $237,374 (6.6%) 0.00 349
2018-06-01 $175,500 (9.8%) $248,244 (12.3%) 0.00 351
2018-07-01 $179,500 (14.7%) $255,019 (17.9%) 0.00 361
2018-08-01 $182,100 (14.2%) $258,674 (18.7%) 0.00 359
2018-09-01 $186,250 (13.0%) $261,805 (19.7%) 0.00 358
2018-10-01 $189,000 (14.6%) $262,421 (19.8%) 0.00 356
2018-11-01 $189,500 (18.0%) $267,914 (20.1%) 0.00 350
2018-12-01 $186,200 (14.3%) $263,580 (14.4%) 0.00 318
2019-01-01 $184,700 (15.5%) $260,291 (11.1%) 0.00 311
2019-02-01 $189,900 (21.8%) $264,405 (13.7%) 0.00 315
2019-03-01 $196,371 (16.1%) $269,608 (12.4%) 0.00 309
2019-04-01 $201,371 (18.9%) $275,500 (18.2%) 0.00 303
2019-05-01 $194,625 (13.9%) $276,172 (16.3%) 0.00 303
2019-06-01 $196,250 (11.8%) $280,850 (13.1%) 0.00 306
2019-07-01 $195,425 (8.9%) $290,877 (14.1%) 0.00 308
2019-08-01 $194,300 (6.7%) $291,698 (12.8%) 0.00 296
2019-09-01 $191,825 (3.0%) $286,125 (9.3%) 0.00 296
2019-10-01 $192,725 (2.0%) $285,358 (8.7%) 0.00 293
2019-11-01 $194,000 (2.4%) $279,456 (4.3%) 0.00 269
2019-12-01 $189,900 (2.0%) $281,690 (6.9%) 0.00 250
2020-01-01 $195,725 (6.0%) $289,702 (11.3%) 0.00 245
2020-02-01 $199,700 (5.2%) $294,469 (11.4%) 0.00 237
2020-03-01 $219,199 (11.6%) $304,739 (13.0%) 0.00 231
2020-04-01 $203,650 (1.1%) $300,682 (9.1%) 0.00 229
2020-05-01 $227,450 (16.9%) $316,620 (14.7%) 0.00 202
2020-06-01 $232,925 (18.7%) $320,093 (14.0%) 0.00 186
2020-07-01 $236,425 (21.0%) $334,080 (14.9%) 0.00 177
2020-08-01 $242,400 (24.8%) $331,376 (13.6%) 0.00 166
2020-09-01 $242,450 (26.4%) $341,708 (19.4%) 0.00 157
2020-10-01 $244,900 (27.1%) $343,318 (20.3%) 0.00 153
2020-11-01 $236,225 (21.8%) $348,696 (24.8%) 0.00 147
2020-12-01 $244,900 (29.0%) $354,906 (26.0%) 0.00 149
2021-01-01 $269,450 (37.7%) $387,851 (33.9%) 0.00 122
2021-02-01 $266,950 (33.7%) $387,861 (31.7%) 0.00 109
2021-03-01 $259,900 (18.6%) $381,582 (25.2%) 0.00 96
2021-04-01 $294,250 (44.5%) $424,823 (41.3%) 0.00 74
2021-05-01 $239,900 (5.5%) $357,960 (13.1%) 0.00 72
2021-06-01 $229,900 (-1.3%) $371,335 (16.0%) 0.00 78
2021-07-01 $229,900 (-2.8%) $356,789 (6.8%) 0.00 96
2021-08-01 $246,175 (1.6%) $365,606 (10.3%) 0.00 99
2021-09-01 $259,449 (7.0%) $384,488 (12.5%) 0.00 123
2021-10-01 $254,900 (4.1%) $393,090 (14.5%) 0.00 130
2021-11-01 $244,000 (3.3%) $368,409 (5.7%) 0.00 129
2021-12-01 $218,475 (-10.8%) $354,590 (-0.1%) 0.00 111
2022-01-01 $212,450 (-21.2%) $371,760 (-4.2%) 0.00 107
2022-02-01 $232,425 (-12.9%) $393,374 (1.4%) 0.00 107
2022-03-01 $249,225 (-4.1%) $428,144 (12.2%) 0.00 97
2022-04-01 $249,900 (-15.1%) $420,662 (-1.0%) 0.00 100
2022-05-01 $255,925 (6.7%) $411,260 (14.9%) 0.00 113
2022-06-01 $259,675 (13.0%) $415,997 (12.0%) 0.00 119
2022-07-01 $262,450 (14.2%) $388,351 (8.9%) 0.00 130
2022-08-01 $272,500 (10.7%) $388,351 (6.2%) 0.00 142
2022-09-01 $254,950 (-1.7%) $386,335 (0.5%) 0.00 138
2022-10-01 $250,000 (-1.9%) $372,971 (-5.1%) 0.00 151
2022-11-01 $254,975 (4.5%) $373,528 (1.4%) 0.00 158
Mountain Home's median listing price for 2022-11-01 was $254,975, a difference of $10,975 (4.5%) versus the prior year and $4,975 versus the prior month.

Mountain Home's median listing price comes in at 0% of the national average.

Mountain Home's average listing price for 2022-11-01 was $373,528, a difference of $5,119 (1.4%) versus the prior year and $557 versus the prior month.

For the 2022-11-01 period, Mountain Home had 158 MLS listings, a difference of 7 listings (5%) versus the prior month and 29 listings (22%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Mountain Home (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,740 sqft
2018-02-01 0 days 1,740 sqft
2018-03-01 0 days 1,766 sqft
2018-04-01 0 days 1,738 sqft
2018-05-01 0 days 1,755 sqft
2018-06-01 0 days 1,800 sqft
2018-07-01 0 days 1,802 sqft
2018-08-01 0 days 1,856 sqft
2018-09-01 0 days 1,880 sqft
2018-10-01 0 days 1,864 sqft
2018-11-01 0 days 1,865 sqft
2018-12-01 0 days 1,860 sqft
2019-01-01 0 days 1,857 sqft
2019-02-01 0 days 1,871 sqft
2019-03-01 0 days 1,882 sqft
2019-04-01 0 days 1,902 sqft
2019-05-01 0 days 1,900 sqft
2019-06-01 0 days 1,900 sqft
2019-07-01 0 days 1,900 sqft
2019-08-01 0 days 1,873 sqft
2019-09-01 0 days 1,833 sqft
2019-10-01 0 days 1,835 sqft
2019-11-01 0 days 1,810 sqft
2019-12-01 0 days 1,801 sqft
2020-01-01 0 days 1,810 sqft
2020-02-01 0 days 1,900 sqft
2020-03-01 0 days 1,900 sqft
2020-04-01 0 days 1,900 sqft
2020-05-01 0 days 1,900 sqft
2020-06-01 0 days 2,005 sqft
2020-07-01 0 days 2,180 sqft
2020-08-01 0 days 2,250 sqft
2020-09-01 0 days 2,250 sqft
2020-10-01 0 days 2,250 sqft
2020-11-01 0 days 2,250 sqft
2020-12-01 0 days 2,250 sqft
2021-01-01 0 days 2,060 sqft
2021-02-01 0 days 2,060 sqft
2021-03-01 0 days 2,064 sqft
2021-04-01 0 days 2,100 sqft
2021-05-01 0 days 2,060 sqft
2021-06-01 0 days 1,948 sqft
2021-07-01 0 days 1,971 sqft
2021-08-01 0 days 1,839 sqft
2021-09-01 0 days 1,989 sqft
2021-10-01 0 days 1,855 sqft
2021-11-01 0 days 1,822 sqft
2021-12-01 0 days 1,773 sqft
2022-01-01 0 days 1,742 sqft
2022-02-01 0 days 1,937 sqft
2022-03-01 0 days 1,986 sqft
2022-04-01 0 days 1,895 sqft
2022-05-01 0 days 1,957 sqft
2022-06-01 0 days 1,810 sqft
2022-07-01 0 days 1,783 sqft
2022-08-01 0 days 1,907 sqft
2022-09-01 0 days 1,856 sqft
2022-10-01 0 days 1,848 sqft
2022-11-01 0 days 1,880 sqft
Mountain Home's median listing age (time on market) for 2022-11-01 was 0 days.

Mountain Home's median square footage for active listings during the 2022-11-01 period was 1,880 sqft. One year prior, the average listing was 1,822 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).