Fort Smith USDA Loan Rates, Closing Costs & Stats

FORT SMITH, AR-OK

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Fort Smith's 27 lenders originated 115 USDA loans during 2023. The total origination value was $18,865,000, with an average USDA loan value of $164,043.

Fort Smith USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Fort Smith averaged 6.43% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Fort Smith's average USDA mortgage closing costs are $4,080.

The average rate for the prior week (2024-05-31) was 6.91% and one month ago for the week of 2024-05-03, the average rate was 6.7%.

The average rate one year ago was 6.6%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.49%.

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

Fort Smith USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Fort Smith level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Firstar Bank 36 6.20% $5,096
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 7.19% $7,487
UNITED 6 6.94% $4,766
Arvest Bank 5 6.83% $5,429
OPEN MORTGAGE, LLC 5 6.65% $8,396
FLAT BRANCH MORTGAGE, INC. 4 6.78% $6,217
First Financial Bank 4 6.56% $5,557
Bank of England 4 6.25% $3,243
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.71% $6,598
STOCKTON MORTGAGE CORPORATION 3 6.42% $7,104
Chambers Bank 3 6.54% $5,269
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.63% $5,250
Chickasaw Community Bank 2 6.44% $8,592
Armstrong Bank 2 5.69% $7,717
Priority Bank 2 6.31% $7,002
Simmons Bank 2 6.50% $3,795
Regions Bank 2 6.50% $5,957
FirstTrust Home Loans, Inc. 2 6.88% $7,878
U.S. Bank 1 7.25% $4,154
ASSOCIATED MORTGAGE CORPORATION 1 7.13% $5,358
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.00% $6,156
GMFS LLC 1 5.25% $4,635
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $2,984
Sierra Pacific Mortgage Company, Inc. 1 7.25% $6,023
UNION HOME MORTGAGE CORP. 1 6.63% $5,463
UNITED WHOLESALE MORTGAGE, LLC 1 6.21% $8,105
AMERICAN FINANCIAL NETWORK, INC. 1 6.49% $6,529

The top Fort Smith USDA lender as defined by loan originations is Firstar Bank, with 36 USDA loans originated. Their average total fees are $5,096, which is $2,392 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Fort Smith USDA lenders (with over 10 loans originated) are Firstar Bank ($5,096), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,487), .

The lowest rate Fort Smith USDA lenders (with over 10 loans originated) are Firstar Bank (6.20%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (7.19%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fort Smith (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 $150,425 (1.0%) $217,388 (2.7%) 0.56 1,143
2018-02-01 $152,350 (3.1%) $219,335 (5.0%) 0.55 1,116
2018-03-01 $157,700 (5.5%) $225,823 (7.3%) 0.55 1,113
2018-04-01 $157,400 (3.6%) $226,620 (2.2%) 0.53 1,131
2018-05-01 $159,900 (4.2%) $226,723 (-0.2%) 0.53 1,154
2018-06-01 $159,900 (2.3%) $227,961 (-1.8%) 0.53 1,173
2018-07-01 $159,250 (5.5%) $225,059 (0.2%) 0.53 1,195
2018-08-01 $159,900 (7.0%) $225,575 (3.8%) 0.54 1,203
2018-09-01 $157,000 (5.4%) $224,128 (3.4%) 0.53 1,226
2018-10-01 $156,750 (4.9%) $222,524 (2.8%) 0.53 1,235
2018-11-01 $154,950 (3.8%) $218,582 (0.1%) 0.53 1,254
2018-12-01 $154,900 (4.7%) $217,516 (1.1%) 0.53 1,205
2019-01-01 $154,950 (3.0%) $223,542 (2.8%) 0.54 1,161
2019-02-01 $158,350 (3.9%) $226,845 (3.4%) 0.54 1,143
2019-03-01 $161,571 (2.5%) $232,913 (3.1%) 0.53 1,121
2019-04-01 $164,750 (4.7%) $238,760 (5.4%) 0.52 1,122
2019-05-01 $169,250 (5.9%) $240,567 (6.1%) 0.53 1,097
2019-06-01 $169,900 (6.3%) $245,647 (7.8%) 0.53 1,078
2019-07-01 $167,375 (5.1%) $245,926 (9.3%) 0.52 1,073
2019-08-01 $165,000 (3.2%) $240,113 (6.4%) 0.52 1,087
2019-09-01 $165,000 (5.1%) $235,459 (5.1%) 0.53 1,096
2019-10-01 $164,998 (5.3%) $231,644 (4.1%) 0.53 1,094
2019-11-01 $164,500 (6.2%) $230,176 (5.3%) 0.54 1,055
2019-12-01 $159,900 (3.2%) $229,068 (5.3%) 0.53 1,008
2020-01-01 $159,950 (3.2%) $227,106 (1.6%) 0.53 969
2020-02-01 $164,799 (4.1%) $234,730 (3.5%) 0.54 962
2020-03-01 $169,450 (4.9%) $241,672 (3.8%) 0.53 901
2020-04-01 $174,900 (6.2%) $246,914 (3.4%) 0.55 883
2020-05-01 $179,000 (5.8%) $254,365 (5.7%) 0.54 815
2020-06-01 $189,000 (11.2%) $265,871 (8.2%) 0.56 758
2020-07-01 $195,000 (16.5%) $275,217 (11.9%) 0.57 709
2020-08-01 $194,500 (17.9%) $278,480 (16.0%) 0.56 664
2020-09-01 $189,525 (14.9%) $290,339 (23.3%) 0.54 586
2020-10-01 $195,000 (18.2%) $288,676 (24.6%) 0.56 563
2020-11-01 $190,425 (15.8%) $298,084 (29.5%) 0.56 514
2020-12-01 $184,375 (15.3%) $290,370 (26.8%) 0.55 491
2021-01-01 $183,750 (14.9%) $298,298 (31.4%) 0.55 455
2021-02-01 $195,000 (18.3%) $310,368 (32.2%) 0.57 390
2021-03-01 $184,950 (9.2%) $306,264 (26.7%) 0.52 373
2021-04-01 $189,000 (8.1%) $314,604 (27.4%) 0.51 370
2021-05-01 $209,700 (17.2%) $332,533 (30.7%) 0.56 342
2021-06-01 $219,450 (16.1%) $321,698 (21.0%) 0.58 382
2021-07-01 $209,900 (7.6%) $311,384 (13.1%) 0.55 480
2021-08-01 $197,450 (1.5%) $307,917 (10.6%) 0.53 487
2021-09-01 $199,225 (5.1%) $308,275 (6.2%) 0.53 496
2021-10-01 $210,000 (7.7%) $317,994 (10.2%) 0.56 462
2021-11-01 $210,950 (10.8%) $318,761 (6.9%) 0.56 400
2021-12-01 $213,575 (15.8%) $325,850 (12.2%) 0.58 382
2022-01-01 $199,950 (8.8%) $326,158 (9.3%) 0.54 349
2022-02-01 $219,950 (12.8%) $334,140 (7.7%) 0.57 328
2022-03-01 $215,375 (16.5%) $333,122 (8.8%) 0.54 360
2022-04-01 $216,850 (14.7%) $334,459 (6.3%) 0.52 369
2022-05-01 $231,225 (10.3%) $333,206 (0.2%) 0.53 393
2022-06-01 $227,225 (3.5%) $323,271 (0.5%) 0.51 440
2022-07-01 $237,195 (13.0%) $334,554 (7.4%) 0.53 490
2022-08-01 $234,950 (19.0%) $333,862 (8.4%) 0.54 518
2022-09-01 $230,000 (15.5%) $306,217 (-0.7%) 0.54 545
2022-10-01 $239,900 (14.2%) $307,900 (-3.2%) 0.56 583
2022-11-01 $232,000 (10.0%) $318,210 (-0.2%) 0.56 590
2022-12-01 $227,250 (6.4%) $314,422 (-3.5%) 0.56 554
2023-01-01 $228,188 (14.1%) $316,515 (-3.0%) 0.57 540
2023-02-01 $236,975 (7.7%) $319,591 (-4.4%) 0.57 498
2023-03-01 $238,875 (10.9%) $329,091 (-1.2%) 0.56 473
2023-04-01 $240,000 (10.7%) $337,159 (0.8%) 0.56 460
2023-05-01 $249,450 (7.9%) $334,182 (0.3%) 0.57 469
2023-06-01 $255,000 (12.2%) $341,613 (5.7%) 0.57 494
2023-07-01 $259,948 (9.6%) $344,538 (3.0%) 0.59 535
2023-08-01 $265,457 (13.0%) $355,998 (6.6%) 0.61 566
2023-09-01 $270,000 (17.4%) $355,106 (16.0%) 0.63 604
2023-10-01 $269,400 (12.3%) $354,555 (15.2%) 0.63 677
2023-11-01 $269,450 (16.1%) $351,539 (10.5%) 0.64 680
2023-12-01 $259,900 (14.4%) $343,503 (9.3%) 0.63 696
2024-01-01 $265,000 (16.1%) $344,419 (8.8%) 0.65 662
2024-02-01 $250,950 (5.9%) $339,632 (6.3%) 0.60 678
2024-03-01 $254,900 (6.7%) $335,715 (2.0%) 0.60 668
2024-04-01 $267,350 (11.4%) $350,591 (4.0%) 0.62 656
2024-05-01 $275,000 (10.2%) $357,966 (7.1%) 0.62 698
Fort Smith's median listing price for 2024-05-01 was $275,000, a difference of $25,550 (10.2%) versus the prior year and $7,650 versus the prior month.

Fort Smith's median listing price comes in at 62% of the national average.

Fort Smith's average listing price for 2024-05-01 was $357,966, a difference of $23,784 (7.1%) versus the prior year and $7,375 versus the prior month.

For the 2024-05-01 period, Fort Smith had 698 MLS listings, a difference of 42 listings (6%) versus the prior month and 229 listings (49%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fort Smith (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 94 days 1,820 sqft
2018-02-01 92 days 1,832 sqft
2018-03-01 79 days 1,886 sqft
2018-04-01 71 days 1,896 sqft
2018-05-01 67 days 1,910 sqft
2018-06-01 64 days 1,912 sqft
2018-07-01 68 days 1,911 sqft
2018-08-01 74 days 1,928 sqft
2018-09-01 78 days 1,889 sqft
2018-10-01 79 days 1,885 sqft
2018-11-01 80 days 1,843 sqft
2018-12-01 86 days 1,833 sqft
2019-01-01 93 days 1,815 sqft
2019-02-01 89 days 1,818 sqft
2019-03-01 82 days 1,855 sqft
2019-04-01 72 days 1,894 sqft
2019-05-01 67 days 1,916 sqft
2019-06-01 75 days 1,924 sqft
2019-07-01 75 days 1,919 sqft
2019-08-01 74 days 1,901 sqft
2019-09-01 73 days 1,878 sqft
2019-10-01 73 days 1,869 sqft
2019-11-01 75 days 1,857 sqft
2019-12-01 86 days 1,854 sqft
2020-01-01 89 days 1,857 sqft
2020-02-01 82 days 1,848 sqft
2020-03-01 74 days 1,890 sqft
2020-04-01 74 days 1,923 sqft
2020-05-01 75 days 1,980 sqft
2020-06-01 68 days 1,984 sqft
2020-07-01 67 days 2,002 sqft
2020-08-01 64 days 2,000 sqft
2020-09-01 59 days 2,000 sqft
2020-10-01 51 days 2,018 sqft
2020-11-01 54 days 2,007 sqft
2020-12-01 65 days 1,921 sqft
2021-01-01 72 days 1,921 sqft
2021-02-01 58 days 1,935 sqft
2021-03-01 42 days 1,814 sqft
2021-04-01 33 days 1,826 sqft
2021-05-01 36 days 1,887 sqft
2021-06-01 30 days 1,886 sqft
2021-07-01 29 days 1,880 sqft
2021-08-01 34 days 1,853 sqft
2021-09-01 37 days 1,829 sqft
2021-10-01 45 days 1,879 sqft
2021-11-01 49 days 1,820 sqft
2021-12-01 51 days 1,839 sqft
2022-01-01 53 days 1,844 sqft
2022-02-01 38 days 1,827 sqft
2022-03-01 33 days 1,810 sqft
2022-04-01 32 days 1,800 sqft
2022-05-01 33 days 1,783 sqft
2022-06-01 33 days 1,791 sqft
2022-07-01 37 days 1,816 sqft
2022-08-01 41 days 1,826 sqft
2022-09-01 48 days 1,806 sqft
2022-10-01 51 days 1,813 sqft
2022-11-01 57 days 1,826 sqft
2022-12-01 64 days 1,780 sqft
2023-01-01 71 days 1,801 sqft
2023-02-01 70 days 1,827 sqft
2023-03-01 63 days 1,823 sqft
2023-04-01 53 days 1,848 sqft
2023-05-01 43 days 1,836 sqft
2023-06-01 46 days 1,860 sqft
2023-07-01 49 days 1,855 sqft
2023-08-01 51 days 1,859 sqft
2023-09-01 52 days 1,838 sqft
2023-10-01 51 days 1,844 sqft
2023-11-01 58 days 1,859 sqft
2023-12-01 68 days 1,828 sqft
2024-01-01 85 days 1,835 sqft
2024-02-01 78 days 1,797 sqft
2024-03-01 58 days 1,773 sqft
2024-04-01 52 days 1,807 sqft
2024-05-01 50 days 1,844 sqft
Fort Smith's median listing age (time on market) for 2024-05-01 was 50 days. This is 17% longer than the same period one year ago.

Fort Smith's median square footage for active listings during the 2024-05-01 period was 1,844 sqft. One year prior, the average listing was 1,836 sqft.