Searcy FHA Loan Rates, Closing Costs & Stats

Searcy, 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.

    Searcy's 48 lenders originated 230 FHA loans during 2024. The total origination value was $44,190,000, with an average FHA loan value of $192,130.

    Searcy FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Searcy averaged -0.01% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Searcy's average FHA mortgage closing costs are $6,299.

    The average rate for the prior week (2025-06-13) was 6.58% and one month ago for the week of 2025-05-16, the average rate was 6.74%.

    The average rate one year ago was 6.59%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.02%.

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

    Searcy 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 Searcy level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    First Community Bank 35 6.23% $7,999
    QUICKEN LOANS, LLC 20 6.53% $8,044
    FLAT BRANCH MORTGAGE, INC. 18 6.38% $7,461
    First Security Bank 12 5.77% $5,706
    SENTE MORTGAGE, INC. 9 6.50% $8,483
    Bank of England 7 6.16% $9,718
    Simmons Bank 6 6.17% $7,380
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 7.48% $10,825
    GERSHMAN INVESTMENT CORP. 5 6.28% $6,535
    Mr. Cooper ( Nationstar Mortgage ) 5 6.43% $8,097
    MORTGAGE FINANCIAL SERVICES, LLC 5 6.70% $8,558
    Centennial Bank 4 6.56% $5,922
    FREEDOM MORTGAGE CORPORATION 4 6.53% $8,971
    Arvest Bank 4 6.56% $7,112
    LOANDEPOT.COM, LLC 3 6.58% $9,229
    BROKER SOLUTIONS, INC. 3 6.58% $11,881
    FIRST COMMUNITY MORTGAGE, INC. 3 6.41% $10,125
    UNITED WHOLESALE MORTGAGE, LLC 3 6.08% $8,403
    Century Mortgage Company DBA Century Lending Company 2 7.13% $10,441
    CARDINAL FINANCIAL 2 6.13% $13,757
    Carrington Mortgage Services, LLC 2 6.50% $9,839
    PENNYMAC LOAN SERVICES, LLC 2 5.88% $5,655
    NEWREZ LLC 2 6.38% $10,194
    Nations Lending Corporation 2 5.94% $16,492
    Equity Prime Mortgage LLC 2 6.75% $14,749
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.94% $10,018
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $8,904
    VILLAGE CAPITAL MORTGAGE 1 6.25% $3,776
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $27,576
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 5.75% $8,920
    BETTER MORTGAGE CORPORATION 1 7.13% $4,076
    DAS Acquisition Company, LLC 1 6.63% $10,001
    Eagle Bank and Trust Company 1 5.88% $7,053
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.63% $8,305
    FirstTrust Home Loans, Inc. 1 6.50% $4,418
    Flagstar Bank, FSB 1 5.75% $6,299
    Gulf Coast Bank and Trust Company 1 6.50% $5,179
    MORTGAGE INVESTORS GROUP, INC. 1 5.75% $22,847
    Mortgage Research Center, LLC 1 7.13% $1,801
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $26,673
    MY MOVE MORTGAGE, LLC 1 6.99% $9,843
    Regions Bank 1 5.75% $5,240
    SFMC, LP 1 6.13% $6,297
    Sierra Pacific Mortgage Company, Inc. 1 6.75% $11,695
    SWBC MORTGAGE CORPORATION 1 6.63% $15,719
    T2 FINANCIAL LLC 1 6.75% $8,080
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.13% $6,816
    American Mortgage & Equity Consultants, Inc. 1 7.25% $8,532

    The top Searcy FHA lender as defined by loan originations is First Community Bank, with 35 FHA loans originated. Their average total fees are $7,999, which is $46 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Searcy FHA lenders (with over 10 loans originated) are First Security Bank ($5,706), FLAT BRANCH MORTGAGE, INC. ($7,461), First Community Bank ($7,999), QUICKEN LOANS, LLC ($8,044) and .

    The lowest rate Searcy FHA lenders (with over 10 loans originated) are First Security Bank (5.77%), First Community Bank (6.23%), FLAT BRANCH MORTGAGE, INC. (6.38%), QUICKEN LOANS, LLC (6.53%) and .

    Searcy FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SEARCY, AR WHITE 2022 $420,680 $538,650 $651,050 $809,150
    SEARCY, AR WHITE 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).