Mountain Home FHA Loan Rates, Closing Costs & Stats

Mountain Home, AR

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    • 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 29 lenders originated 109 FHA loans during 2023. The total origination value was $19,635,000, with an average FHA loan value of $180,138.

    Mountain Home FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Mountain Home averaged 6.76% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Mountain Home's average FHA mortgage closing costs are $5,713.

    The average rate for the prior week (2024-04-12) was 6.75% and one month ago for the week of 2024-03-15, the average rate was 6.52%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 12 6.33% $8,927
    Arvest Bank 9 6.85% $6,707
    Plains Commerce Bank 5 6.30% $9,087
    FREEDOM MORTGAGE CORPORATION 5 6.78% $9,743
    BROKER SOLUTIONS, INC. 4 6.56% $8,933
    LOANDEPOT.COM, LLC 3 5.79% $10,612
    First Security Bank 3 6.17% $4,942
    Centennial Bank 3 6.42% $5,954
    DAS Acquisition Company, LLC 3 6.96% $13,167
    First Community Bank 2 6.25% $9,418
    Mr. Cooper ( Nationstar Mortgage ) 2 5.94% $14,580
    Mortgage Research Center, LLC 2 6.88% $5,285
    MID AMERICA MORTGAGE, INC. 2 6.38% $6,652
    LAKEVIEW LOAN SERVICING, LLC 2 6.19% $9,443
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $5,651
    UNITED WHOLESALE MORTGAGE, LLC 1 5.63% $9,133
    Equity Prime Mortgage LLC 1 7.00% $5,159
    EVERETT FINANCIAL, INC. 1 6.88% $7,748
    FirstTrust Home Loans, Inc. 1 7.13% $6,453
    FLAT BRANCH MORTGAGE, INC. 1 7.50% $10,126
    GERSHMAN INVESTMENT CORP. 1 7.50% $6,441
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $9,641
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $10,527
    NEW DAY FINANCIAL, LLC 1 7.99% $8,688
    NEWREZ LLC 1 6.25% $7,208
    OCMBC, INC. 1 6.75% $6,495
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.13% $7,047
    RESIDENTIAL BANCORP 1 5.50% $12,316
    RUOFF MORTGAGE COMPANY, INC. 1 5.88% $4,703

    The top Mountain Home FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 12 FHA loans originated. Their average total fees are $8,927, which is $2,220 higher than the next largest lender, Arvest Bank.

    The lowest fee Mountain Home FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,927), .

    The lowest rate Mountain Home FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.33%), .

    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
    MOUNTAIN HOME, AR BAXTER 2023 $472,030 $604,400 $730,525 $907,900

    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%) $234,551 (10.6%) 0.00 330
    2018-02-01 $157,150 (4.8%) $232,881 (9.0%) 0.00 324
    2018-03-01 $169,900 (6.4%) $240,321 (11.8%) 0.00 331
    2018-04-01 $169,700 (2.4%) $233,483 (4.6%) 0.00 348
    2018-05-01 $170,925 (4.0%) $237,542 (6.6%) 0.00 348
    2018-06-01 $175,500 (9.8%) $248,244 (12.2%) 0.00 351
    2018-07-01 $179,500 (14.0%) $255,019 (17.8%) 0.00 361
    2018-08-01 $182,100 (14.1%) $258,674 (18.6%) 0.00 359
    2018-09-01 $186,250 (13.0%) $261,805 (19.6%) 0.00 358
    2018-10-01 $189,000 (14.6%) $262,421 (19.7%) 0.00 356
    2018-11-01 $189,600 (17.5%) $268,183 (20.1%) 0.00 350
    2018-12-01 $187,500 (14.8%) $264,151 (14.5%) 0.00 317
    2019-01-01 $184,800 (15.6%) $260,864 (11.2%) 0.00 310
    2019-02-01 $189,900 (20.8%) $264,999 (13.8%) 0.00 314
    2019-03-01 $196,371 (15.6%) $270,241 (12.5%) 0.00 308
    2019-04-01 $202,546 (19.4%) $276,177 (18.3%) 0.00 301
    2019-05-01 $195,750 (14.5%) $276,860 (16.6%) 0.00 301
    2019-06-01 $199,000 (13.4%) $282,039 (13.6%) 0.00 304
    2019-07-01 $195,950 (9.2%) $291,396 (14.3%) 0.00 307
    2019-08-01 $194,336 (6.7%) $292,228 (13.0%) 0.00 295
    2019-09-01 $191,841 (3.0%) $286,624 (9.5%) 0.00 295
    2019-10-01 $192,727 (2.0%) $285,862 (8.9%) 0.00 292
    2019-11-01 $195,000 (2.9%) $279,988 (4.4%) 0.00 268
    2019-12-01 $189,900 (1.3%) $282,251 (6.9%) 0.00 249
    2020-01-01 $196,975 (6.6%) $290,339 (11.3%) 0.00 244
    2020-02-01 $199,900 (5.3%) $295,141 (11.4%) 0.00 236
    2020-03-01 $220,950 (12.5%) $305,762 (13.1%) 0.00 230
    2020-04-01 $211,174 (4.3%) $302,045 (9.4%) 0.00 227
    2020-05-01 $229,948 (17.5%) $318,332 (15.0%) 0.00 200
    2020-06-01 $235,425 (18.3%) $321,883 (14.1%) 0.00 184
    2020-07-01 $237,650 (21.3%) $334,631 (14.8%) 0.00 175
    2020-08-01 $244,900 (26.0%) $331,898 (13.6%) 0.00 165
    2020-09-01 $242,450 (26.4%) $342,354 (19.4%) 0.00 156
    2020-10-01 $246,200 (27.8%) $343,982 (20.3%) 0.00 152
    2020-11-01 $238,675 (22.4%) $349,438 (24.8%) 0.00 146
    2020-12-01 $246,175 (29.6%) $355,998 (26.1%) 0.00 148
    2021-01-01 $269,900 (37.0%) $389,894 (34.3%) 0.00 121
    2021-02-01 $269,450 (34.8%) $389,921 (32.1%) 0.00 108
    2021-03-01 $259,900 (17.6%) $383,817 (25.5%) 0.00 95
    2021-04-01 $296,875 (40.6%) $428,307 (41.8%) 0.00 73
    2021-05-01 $243,700 (6.0%) $360,668 (13.3%) 0.00 71
    2021-06-01 $232,425 (-1.3%) $373,770 (16.1%) 0.00 77
    2021-07-01 $229,900 (-3.3%) $359,008 (7.3%) 0.00 95
    2021-08-01 $249,900 (2.0%) $367,651 (10.8%) 0.00 98
    2021-09-01 $261,475 (7.9%) $386,408 (12.9%) 0.00 122
    2021-10-01 $259,900 (5.6%) $394,806 (14.8%) 0.00 129
    2021-11-01 $245,875 (3.0%) $370,099 (5.9%) 0.00 128
    2021-12-01 $218,950 (-11.1%) $356,350 (0.1%) 0.00 110
    2022-01-01 $212,450 (-21.3%) $371,660 (-4.7%) 0.00 105
    2022-02-01 $232,450 (-13.7%) $395,690 (1.5%) 0.00 106
    2022-03-01 $249,450 (-4.0%) $430,767 (12.2%) 0.00 96
    2022-04-01 $249,900 (-15.8%) $423,226 (-1.2%) 0.00 99
    2022-05-01 $257,975 (5.9%) $413,500 (14.7%) 0.00 112
    2022-06-01 $261,950 (12.7%) $418,193 (11.9%) 0.00 118
    2022-07-01 $264,900 (15.2%) $391,825 (9.1%) 0.00 129
    2022-08-01 $272,525 (9.1%) $389,492 (5.9%) 0.00 140
    2022-09-01 $257,325 (-1.6%) $387,716 (0.3%) 0.00 137
    2022-10-01 $250,000 (-3.8%) $374,381 (-5.2%) 0.00 150
    2022-11-01 $255,000 (3.7%) $375,030 (1.3%) 0.00 157
    2022-12-01 $271,250 (23.9%) $388,534 (9.0%) 0.00 133
    2023-01-01 $282,325 (32.9%) $391,639 (5.4%) 0.00 135
    2023-02-01 $279,975 (20.5%) $393,357 (-0.6%) 0.00 123
    2023-03-01 $246,125 (-1.3%) $374,786 (-13.0%) 0.00 123
    2023-04-01 $249,000 (-0.4%) $349,742 (-17.4%) 0.00 114
    2023-05-01 $264,900 (2.7%) $378,714 (-8.4%) 0.00 116
    2023-06-01 $268,725 (2.6%) $375,259 (-10.3%) 0.00 121
    2023-07-01 $260,000 (-1.9%) $361,406 (-7.8%) 0.00 129
    2023-08-01 $272,425 (0.0%) $366,280 (-6.0%) 0.00 155
    2023-09-01 $299,900 (16.6%) $411,439 (6.1%) 0.00 164
    2023-10-01 $289,900 (16.0%) $398,255 (6.4%) 0.00 177
    2023-11-01 $277,400 (8.8%) $370,710 (-1.2%) 0.00 201
    2023-12-01 $274,900 (1.4%) $374,298 (-3.7%) 0.00 210
    2024-01-01 $279,900 (-0.9%) $389,489 (-0.6%) 0.00 202
    2024-02-01 $267,450 (-4.5%) $380,903 (-3.2%) 0.00 196
    2024-03-01 $272,900 (10.9%) $401,688 (7.2%) 0.00 185
    Mountain Home's median listing price for 2024-03-01 was $272,900, a difference of $26,775 (10.9%) versus the prior year and $5,450 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 2024-03-01 was $401,688, a difference of $26,902 (7.2%) versus the prior year and $20,785 versus the prior month.

    For the 2024-03-01 period, Mountain Home had 185 MLS listings, a difference of -11 listings (-6%) versus the prior month and 62 listings (50%) 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 1,746 sqft
    2018-02-01 0 days 1,743 sqft
    2018-03-01 0 days 1,765 sqft
    2018-04-01 0 days 1,762 sqft
    2018-05-01 0 days 1,761 sqft
    2018-06-01 0 days 1,765 sqft
    2018-07-01 0 days 1,776 sqft
    2018-08-01 0 days 1,807 sqft
    2018-09-01 0 days 1,847 sqft
    2018-10-01 0 days 1,837 sqft
    2018-11-01 0 days 1,826 sqft
    2018-12-01 0 days 1,821 sqft
    2019-01-01 0 days 1,808 sqft
    2019-02-01 0 days 1,841 sqft
    2019-03-01 0 days 1,848 sqft
    2019-04-01 0 days 1,864 sqft
    2019-05-01 0 days 1,787 sqft
    2019-06-01 0 days 1,840 sqft
    2019-07-01 0 days 1,834 sqft
    2019-08-01 0 days 1,851 sqft
    2019-09-01 0 days 1,823 sqft
    2019-10-01 0 days 1,804 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 2,040 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 1,741 sqft
    2022-02-01 0 days 1,937 sqft
    2022-03-01 0 days 1,978 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 1,848 sqft
    2022-10-01 0 days 1,848 sqft
    2022-11-01 0 days 1,880 sqft
    2022-12-01 0 days 1,825 sqft
    2023-01-01 0 days 1,809 sqft
    2023-02-01 0 days 1,750 sqft
    2023-03-01 0 days 1,695 sqft
    2023-04-01 0 days 1,700 sqft
    2023-05-01 0 days 1,737 sqft
    2023-06-01 0 days 1,735 sqft
    2023-07-01 0 days 1,728 sqft
    2023-08-01 0 days 1,802 sqft
    2023-09-01 0 days 1,911 sqft
    2023-10-01 0 days 1,825 sqft
    2023-11-01 0 days 1,741 sqft
    2023-12-01 0 days 1,701 sqft
    2024-01-01 0 days 1,734 sqft
    2024-02-01 0 days 1,728 sqft
    2024-03-01 0 days 1,716 sqft
    Mountain Home's median listing age (time on market) for 2024-03-01 was 0 days.

    Mountain Home's median square footage for active listings during the 2024-03-01 period was 1,716 sqft. One year prior, the average listing was 1,695 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).