Fort Smith USDA Loan Rates, Closing Costs & Stats

FORT SMITH, AR-OK

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    • 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 6.13% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.47% and one month ago for the week of 2024-11-08, the average rate was 6.18%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.09%.

    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
    2024-06-01 $279,000 (9.4%) $364,033 (6.6%) 0.63 720
    2024-07-01 $275,000 (5.8%) $360,314 (4.6%) 0.63 734
    2024-08-01 $279,900 (5.4%) $364,446 (2.4%) 0.65 780
    2024-09-01 $275,000 (1.9%) $357,868 (0.8%) 0.65 787
    2024-10-01 $270,000 (0.2%) $353,668 (-0.3%) 0.64 863
    2024-11-01 $269,900 (0.2%) $344,605 (-2.0%) 0.65 944
    Fort Smith's median listing price for 2024-11-01 was $269,900, a difference of $450 (0.2%) versus the prior year and $-100 versus the prior month.

    Fort Smith's median listing price comes in at 65% of the national average.

    Fort Smith's average listing price for 2024-11-01 was $344,605, a difference of $-6,934 (-2.0%) versus the prior year and $-9,063 versus the prior month.

    For the 2024-11-01 period, Fort Smith had 944 MLS listings, a difference of 81 listings (9%) versus the prior month and 264 listings (39%) 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
    2024-06-01 57 days 1,878 sqft
    2024-07-01 60 days 1,835 sqft
    2024-08-01 60 days 1,851 sqft
    2024-09-01 58 days 1,837 sqft
    2024-10-01 61 days 1,834 sqft
    2024-11-01 65 days 1,804 sqft
    Fort Smith's median listing age (time on market) for 2024-11-01 was 65 days. This is 12% longer than the same period one year ago.

    Fort Smith's median square footage for active listings during the 2024-11-01 period was 1,804 sqft. One year prior, the average listing was 1,859 sqft.