Russellville FHA Loan Rates, Closing Costs & Stats

Russellville, 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.

Russellville's 59 lenders originated 228 FHA loans during 2024. The total origination value was $41,240,000, with an average FHA loan value of $180,877.

Russellville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Russellville averaged 0.35% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

Russellville's average FHA mortgage closing costs are $5,876.

The average rate for the prior week (2025-06-27) was 6.84% and one month ago for the week of 2025-05-30, the average rate was 6.91%.

The average rate one year ago was 6.84%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.11%.

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

Russellville 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 Russellville level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Arvest Bank 32 6.36% $6,848
QUICKEN LOANS, LLC 24 6.62% $9,043
American Mortgage & Equity Consultants, Inc. 11 7.06% $8,226
First Security Bank 9 6.11% $4,944
Centennial Bank 9 6.31% $6,964
PLANET HOME LENDING, LLC 7 6.12% $6,074
CORNERSTONE HOME LENDING, INC. 7 6.57% $8,229
SECURITYNATIONAL MORTGAGE COMPANY 7 6.75% $6,885
Eagle Bank and Trust Company 6 6.15% $6,965
GMFS LLC 6 6.52% $6,527
INTERLINC MORTGAGE SERVICES, LLC 6 6.67% $5,831
CALCON MUTUAL MORTGAGE LLC 5 6.95% $7,762
AMERISAVE MORTGAGE CORPORATION 4 6.38% $12,290
PENNYMAC LOAN SERVICES, LLC 4 5.88% $6,948
AMERICAN FINANCIAL RESOURCES, INC. 4 6.72% $5,034
Bank of England 3 6.46% $8,437
BROKER SOLUTIONS, INC. 3 7.00% $6,272
Paramount Residential Mortgage Group, Inc. 3 6.21% $7,700
Regions Bank 3 5.92% $6,915
FLAT BRANCH MORTGAGE, INC. 3 6.50% $6,021
LOANDEPOT.COM, LLC 3 6.41% $7,298
UNION HOME MORTGAGE CORP. 3 6.75% $9,725
UNITED WHOLESALE MORTGAGE, LLC 3 6.25% $10,147
Simmons Bank 2 6.44% $4,712
FREEDOM MORTGAGE CORPORATION 2 6.25% $13,676
GUILD MORTGAGE COMPANY 2 6.06% $9,154
Mortgage Research Center, LLC 2 7.25% $4,771
AMERICAN FINANCING CORPORATION 2 6.00% $11,003
GERSHMAN INVESTMENT CORP. 2 6.44% $5,216
AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $7,139
ZILLOW HOME LOANS, LLC 1 6.75% $9,100
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.50% $6,443
Carrington Mortgage Services, LLC 1 6.13% $8,250
Chambers Bank 1 6.49% $6,443
Extraco Banks 1 6.50% $7,587
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $7,247
First Community Bank 1 6.00% $9,255
FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $6,551
First Financial Bank 1 6.13% $7,217
FIRST WESTERN MORTGAGE, INC. 1 6.00% $10,069
Gateway First Bank 1 6.75% $8,437
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $6,346
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $8,188
LAKEVIEW LOAN SERVICING, LLC 1 6.63% $8,127
LOANPAL, LLC 1 6.13% $7,976
MID AMERICA MORTGAGE, INC. 1 6.88% $2,755
MORTGAGE INVESTORS GROUP, INC. 1 6.13% $6,848
MOVEMENT MORTGAGE, LLC 1 6.63% $8,684
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $4,679
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.00% $9,415
Nations Lending Corporation 1 6.75% $9,373
NEWREZ LLC 1 6.75% $6,156
RELIANCE FIRST CAPITAL, LLC 1 7.00% $12,604
ROYAL UNITED MORTGAGE LLC 1 6.63% $6,439
TELCOE FEDERAL CREDIT UNION 1 6.50% $5,636
The Federal Savings Bank 1 7.00% $3,838
The First National Bank of Fort Smith 1 5.63% $7,812
UNITED 1 6.50% $5,235
U.S. Bank 1 6.25% $4,836

The top Russellville FHA lender as defined by loan originations is Arvest Bank, with 32 FHA loans originated. Their average total fees are $6,848, which is $2,195 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Russellville FHA lenders (with over 10 loans originated) are Arvest Bank ($6,848), American Mortgage & Equity Consultants, Inc. ($8,226), QUICKEN LOANS, LLC ($9,043), .

The lowest rate Russellville FHA lenders (with over 10 loans originated) are Arvest Bank (6.36%), QUICKEN LOANS, LLC (6.62%), American Mortgage & Equity Consultants, Inc. (7.06%), .

Russellville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
RUSSELLVILLE, AR POPE 2022 $420,680 $538,650 $651,050 $809,150
RUSSELLVILLE, AR YELL 2022 $420,680 $538,650 $651,050 $809,150
RUSSELLVILLE, AR POPE 2023 $472,030 $604,400 $730,525 $907,900
RUSSELLVILLE, AR YELL 2023 $472,030 $604,400 $730,525 $907,900

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).