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 56 lenders originated 232 FHA loans during 2023. The total origination value was $38,400,000, with an average FHA loan value of $165,517.
Russellville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Russellville
averaged
6.08%
for the week of 2024-12-06, compared to the national average (all FHA variants) of
6.363% for the same period.
Russellville's average FHA mortgage closing costs are $5,635.
The average rate for the prior week (2024-11-29) was
6.52% and
one month ago for the week of 2024-11-01, the
average rate was 6.31%.
The average rate one year ago was 6.64%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.36%.
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.
The top Russellville FHA lender as defined by loan originations is Arvest Bank, with
46 FHA loans originated. Their average total fees are
$6,149, which is $1,512
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Russellville FHA lenders (with over 10 loans originated) are
Arvest Bank ($6,149), Regions Bank ($6,418), CORNERSTONE HOME LENDING, INC. ($6,950), UNION HOME MORTGAGE CORP. ($7,507) and QUICKEN LOANS, LLC ($7,661).
The lowest rate Russellville FHA lenders (with over 10 loans originated) are
Regions Bank (6.13%), Arvest Bank (6.55%), QUICKEN LOANS, LLC (6.56%), CORNERSTONE HOME LENDING, INC. (6.67%) and UNION HOME MORTGAGE CORP. (6.68%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Russellville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $129,900 (3.9%) | $172,403 (6.3%) | 0.00 | 295 |
2018-02-01 | $135,375 (6.3%) | $172,726 (4.0%) | 0.00 | 296 |
2018-03-01 | $142,500 (9.7%) | $180,068 (7.6%) | 0.00 | 307 |
2018-04-01 | $149,475 (15.1%) | $190,498 (14.3%) | 0.00 | 301 |
2018-05-01 | $153,900 (13.0%) | $191,551 (10.3%) | 0.00 | 295 |
2018-06-01 | $154,900 (10.7%) | $192,754 (7.8%) | 0.00 | 322 |
2018-07-01 | $158,613 (13.4%) | $192,209 (8.7%) | 0.00 | 343 |
2018-08-01 | $157,400 (10.5%) | $192,141 (7.3%) | 0.00 | 345 |
2018-09-01 | $154,990 (7.6%) | $192,249 (6.6%) | 0.00 | 337 |
2018-10-01 | $149,950 (2.2%) | $191,123 (5.4%) | 0.00 | 328 |
2018-11-01 | $149,925 (3.5%) | $194,293 (6.6%) | 0.00 | 320 |
2018-12-01 | $150,000 (11.5%) | $191,915 (8.1%) | 0.00 | 312 |
2019-01-01 | $144,450 (11.2%) | $185,349 (7.5%) | 0.00 | 304 |
2019-02-01 | $143,900 (6.3%) | $184,064 (6.6%) | 0.00 | 339 |
2019-03-01 | $145,693 (2.2%) | $185,350 (2.9%) | 0.00 | 360 |
2019-04-01 | $147,668 (-1.2%) | $186,457 (-2.1%) | 0.00 | 348 |
2019-05-01 | $144,950 (-5.8%) | $184,120 (-3.9%) | 0.00 | 327 |
2019-06-01 | $144,900 (-6.5%) | $181,036 (-6.1%) | 0.00 | 323 |
2019-07-01 | $147,700 (-6.9%) | $185,548 (-3.5%) | 0.00 | 318 |
2019-08-01 | $162,245 (3.1%) | $191,520 (-0.3%) | 0.00 | 318 |
2019-09-01 | $165,764 (7.0%) | $195,977 (1.9%) | 0.00 | 305 |
2019-10-01 | $168,109 (12.1%) | $199,819 (4.6%) | 0.00 | 295 |
2019-11-01 | $162,450 (8.4%) | $199,130 (2.5%) | 0.00 | 288 |
2019-12-01 | $164,075 (9.4%) | $203,014 (5.8%) | 0.00 | 282 |
2020-01-01 | $155,375 (7.6%) | $202,033 (9.0%) | 0.00 | 252 |
2020-02-01 | $158,700 (10.3%) | $204,666 (11.2%) | 0.00 | 235 |
2020-03-01 | $174,300 (19.6%) | $211,618 (14.2%) | 0.00 | 248 |
2020-04-01 | $176,425 (19.5%) | $213,512 (14.5%) | 0.00 | 253 |
2020-05-01 | $177,200 (22.3%) | $215,167 (16.9%) | 0.00 | 220 |
2020-06-01 | $174,850 (20.7%) | $214,714 (18.6%) | 0.00 | 207 |
2020-07-01 | $171,200 (15.9%) | $220,355 (18.8%) | 0.00 | 196 |
2020-08-01 | $184,950 (14.0%) | $228,908 (19.5%) | 0.00 | 194 |
2020-09-01 | $187,000 (12.8%) | $235,121 (20.0%) | 0.00 | 163 |
2020-10-01 | $189,900 (13.0%) | $240,015 (20.1%) | 0.00 | 152 |
2020-11-01 | $187,400 (15.4%) | $239,134 (20.1%) | 0.00 | 166 |
2020-12-01 | $189,400 (15.4%) | $238,382 (17.4%) | 0.00 | 153 |
2021-01-01 | $185,000 (19.1%) | $238,484 (18.0%) | 0.00 | 148 |
2021-02-01 | $190,900 (20.3%) | $247,662 (21.0%) | 0.00 | 82 |
2021-03-01 | $196,283 (12.6%) | $265,051 (25.3%) | 0.00 | 111 |
2021-04-01 | $212,750 (20.6%) | $266,405 (24.8%) | 0.00 | 106 |
2021-05-01 | $189,950 (7.2%) | $258,145 (20.0%) | 0.00 | 92 |
2021-06-01 | $195,775 (12.0%) | $271,823 (26.6%) | 0.00 | 95 |
2021-07-01 | $184,900 (8.0%) | $266,556 (21.0%) | 0.00 | 92 |
2021-08-01 | $170,700 (-7.7%) | $247,904 (8.3%) | 0.00 | 102 |
2021-09-01 | $191,169 (2.2%) | $240,388 (2.2%) | 0.00 | 124 |
2021-10-01 | $198,500 (4.5%) | $246,545 (2.7%) | 0.00 | 128 |
2021-11-01 | $220,438 (17.6%) | $257,551 (7.7%) | 0.00 | 113 |
2021-12-01 | $220,000 (16.2%) | $249,705 (4.8%) | 0.00 | 116 |
2022-01-01 | $204,900 (10.8%) | $233,254 (-2.2%) | 0.00 | 123 |
2022-02-01 | $204,825 (7.3%) | $243,090 (-1.9%) | 0.00 | 99 |
2022-03-01 | $197,200 (0.5%) | $251,410 (-5.2%) | 0.00 | 93 |
2022-04-01 | $199,900 (-6.0%) | $265,396 (-0.4%) | 0.00 | 93 |
2022-05-01 | $207,813 (9.4%) | $273,250 (5.9%) | 0.00 | 104 |
2022-06-01 | $219,900 (12.3%) | $293,322 (7.9%) | 0.00 | 121 |
2022-07-01 | $217,900 (17.9%) | $281,599 (5.6%) | 0.00 | 168 |
2022-08-01 | $223,500 (30.9%) | $288,597 (16.4%) | 0.00 | 163 |
2022-09-01 | $220,000 (15.1%) | $275,128 (14.5%) | 0.00 | 170 |
2022-10-01 | $235,000 (18.4%) | $276,836 (12.3%) | 0.00 | 173 |
2022-11-01 | $222,500 (0.9%) | $261,114 (1.4%) | 0.00 | 179 |
2022-12-01 | $215,000 (-2.3%) | $258,294 (3.4%) | 0.00 | 197 |
2023-01-01 | $210,000 (2.5%) | $259,282 (11.2%) | 0.00 | 166 |
2023-02-01 | $212,450 (3.7%) | $267,907 (10.2%) | 0.00 | 144 |
2023-03-01 | $209,950 (6.5%) | $263,147 (4.7%) | 0.00 | 140 |
2023-04-01 | $220,000 (10.1%) | $292,379 (10.2%) | 0.00 | 144 |
2023-05-01 | $229,450 (10.4%) | $305,579 (11.8%) | 0.00 | 144 |
2023-06-01 | $230,500 (4.8%) | $307,747 (4.9%) | 0.00 | 143 |
2023-07-01 | $249,900 (14.7%) | $316,708 (12.5%) | 0.00 | 158 |
2023-08-01 | $244,175 (9.3%) | $323,104 (12.0%) | 0.00 | 169 |
2023-09-01 | $249,900 (13.6%) | $333,444 (21.2%) | 0.00 | 196 |
2023-10-01 | $247,225 (5.2%) | $331,652 (19.8%) | 0.00 | 207 |
2023-11-01 | $249,500 (12.1%) | $331,422 (26.9%) | 0.00 | 198 |
2023-12-01 | $249,900 (16.2%) | $328,336 (27.1%) | 0.00 | 194 |
2024-01-01 | $252,450 (20.2%) | $325,575 (25.6%) | 0.00 | 190 |
2024-02-01 | $251,100 (18.2%) | $326,993 (22.1%) | 0.00 | 191 |
2024-03-01 | $252,250 (20.2%) | $320,159 (21.7%) | 0.00 | 185 |
2024-04-01 | $259,100 (17.8%) | $320,603 (9.7%) | 0.00 | 195 |
2024-05-01 | $251,900 (9.8%) | $316,546 (3.6%) | 0.00 | 204 |
2024-06-01 | $255,000 (10.6%) | $321,450 (4.5%) | 0.00 | 212 |
2024-07-01 | $257,250 (2.9%) | $315,597 (-0.4%) | 0.00 | 230 |
2024-08-01 | $262,450 (7.5%) | $342,438 (6.0%) | 0.00 | 225 |
2024-09-01 | $270,850 (8.4%) | $335,007 (0.5%) | 0.00 | 239 |
2024-10-01 | $268,350 (8.5%) | $322,134 (-2.9%) | 0.00 | 262 |
2024-11-01 | $264,900 (6.2%) | $315,278 (-4.9%) | 0.00 | 273 |
Russellville's median listing price comes in at 0% of the national average.
Russellville's average listing price for 2024-11-01 was $315,278, a difference of $-16,144 (-4.9%) versus the prior year and $-6,856 versus the prior month.
For the 2024-11-01 period, Russellville had 273 MLS listings, a difference of 11 listings (4%) versus the prior month and 75 listings (38%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Russellville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,697 sqft |
2018-02-01 | 0 days | 1,733 sqft |
2018-03-01 | 0 days | 1,756 sqft |
2018-04-01 | 0 days | 1,800 sqft |
2018-05-01 | 0 days | 1,841 sqft |
2018-06-01 | 0 days | 1,886 sqft |
2018-07-01 | 0 days | 1,866 sqft |
2018-08-01 | 0 days | 1,839 sqft |
2018-09-01 | 0 days | 1,809 sqft |
2018-10-01 | 0 days | 1,806 sqft |
2018-11-01 | 0 days | 1,811 sqft |
2018-12-01 | 0 days | 1,802 sqft |
2019-01-01 | 0 days | 1,737 sqft |
2019-02-01 | 0 days | 1,693 sqft |
2019-03-01 | 0 days | 1,735 sqft |
2019-04-01 | 0 days | 1,788 sqft |
2019-05-01 | 0 days | 1,691 sqft |
2019-06-01 | 0 days | 1,726 sqft |
2019-07-01 | 0 days | 1,760 sqft |
2019-08-01 | 0 days | 1,788 sqft |
2019-09-01 | 0 days | 1,777 sqft |
2019-10-01 | 0 days | 1,771 sqft |
2019-11-01 | 0 days | 1,792 sqft |
2019-12-01 | 0 days | 1,800 sqft |
2020-01-01 | 0 days | 1,771 sqft |
2020-02-01 | 0 days | 1,832 sqft |
2020-03-01 | 0 days | 1,848 sqft |
2020-04-01 | 0 days | 1,854 sqft |
2020-05-01 | 0 days | 1,828 sqft |
2020-06-01 | 0 days | 1,824 sqft |
2020-07-01 | 0 days | 1,811 sqft |
2020-08-01 | 0 days | 1,874 sqft |
2020-09-01 | 0 days | 1,960 sqft |
2020-10-01 | 0 days | 1,843 sqft |
2020-11-01 | 0 days | 1,833 sqft |
2020-12-01 | 0 days | 1,903 sqft |
2021-01-01 | 0 days | 1,840 sqft |
2021-02-01 | 0 days | 1,864 sqft |
2021-03-01 | 0 days | 1,964 sqft |
2021-04-01 | 0 days | 2,107 sqft |
2021-05-01 | 0 days | 1,944 sqft |
2021-06-01 | 0 days | 1,937 sqft |
2021-07-01 | 0 days | 1,784 sqft |
2021-08-01 | 0 days | 1,651 sqft |
2021-09-01 | 0 days | 1,593 sqft |
2021-10-01 | 0 days | 1,698 sqft |
2021-11-01 | 0 days | 1,836 sqft |
2021-12-01 | 0 days | 1,902 sqft |
2022-01-01 | 0 days | 1,787 sqft |
2022-02-01 | 0 days | 1,732 sqft |
2022-03-01 | 0 days | 1,695 sqft |
2022-04-01 | 0 days | 1,781 sqft |
2022-05-01 | 0 days | 1,884 sqft |
2022-06-01 | 0 days | 1,883 sqft |
2022-07-01 | 0 days | 1,840 sqft |
2022-08-01 | 0 days | 1,846 sqft |
2022-09-01 | 0 days | 1,785 sqft |
2022-10-01 | 0 days | 1,829 sqft |
2022-11-01 | 0 days | 1,808 sqft |
2022-12-01 | 0 days | 1,779 sqft |
2023-01-01 | 0 days | 1,753 sqft |
2023-02-01 | 0 days | 1,719 sqft |
2023-03-01 | 0 days | 1,703 sqft |
2023-04-01 | 0 days | 1,786 sqft |
2023-05-01 | 0 days | 1,800 sqft |
2023-06-01 | 0 days | 1,795 sqft |
2023-07-01 | 0 days | 1,800 sqft |
2023-08-01 | 0 days | 1,822 sqft |
2023-09-01 | 0 days | 1,856 sqft |
2023-10-01 | 0 days | 1,901 sqft |
2023-11-01 | 0 days | 1,917 sqft |
2023-12-01 | 0 days | 1,914 sqft |
2024-01-01 | 0 days | 1,911 sqft |
2024-02-01 | 0 days | 1,940 sqft |
2024-03-01 | 0 days | 1,932 sqft |
2024-04-01 | 0 days | 1,923 sqft |
2024-05-01 | 0 days | 1,912 sqft |
2024-06-01 | 0 days | 1,830 sqft |
2024-07-01 | 0 days | 1,816 sqft |
2024-08-01 | 0 days | 1,861 sqft |
2024-09-01 | 0 days | 1,968 sqft |
2024-10-01 | 0 days | 1,908 sqft |
2024-11-01 | 0 days | 1,887 sqft |
Russellville's median square footage for active listings during the 2024-11-01 period was 1,887 sqft. One year prior, the average listing was 1,917 sqft.