Fort Smith VA Loans

FORT SMITH, AR-OK

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Fort Smith's 92 lenders originated 924 VA loans during 2021. The total origination value was $185,730,000, with an average VA loan value of $201,006.

    Fort Smith VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Fort Smith averaged 5.63% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

    The average rate for the prior week (2022-05-06) was 5.56% and one month ago for the week of 2022-04-08, the average rate was 4.98%.

    The average rate one year ago was 2.8%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.26%.

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

    Fort Smith VA Loan Lenders by Rates & Fees

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

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    Mortgage Research Center, LLC 124 2.91% $3,842
    QUICKEN LOANS, LLC 94 2.49% $4,802
    Arvest Bank 61 2.69% $4,782
    FREEDOM MORTGAGE CORPORATION 42 2.57% $2,330
    PENNYMAC LOAN SERVICES, LLC 41 2.58% $4,590
    SWBC MORTGAGE CORPORATION 30 3.04% $5,283
    USAA Federal Savings Bank 27 2.86% $3,289
    Firstar Bank 24 2.56% $6,218
    NAVY FEDERAL CREDIT UNION 20 2.51% $5,145
    NEW DAY FINANCIAL, LLC 19 3.04% $5,598
    First Financial Bank 16 2.95% $5,045
    Armstrong Bank 15 2.61% $3,722
    VILLAGE CAPITAL & INVESTMENT LLC 15 2.55% $2,254
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 3.25% $3,639
    CALIBER HOME LOANS, INC. 13 2.73% $2,175
    LEADERONE FINANCIAL CORPORATION 12 3.04% $4,035
    Low VA Rates, LLC 12 2.39% $4,064
    LOANDEPOT.COM, LLC 11 2.86% $3,643
    LAKEVIEW LOAN SERVICING, LLC 11 2.57% $2,053
    The Federal Savings Bank 10 2.54% $5,856
    Mr. Cooper ( Nationstar Mortgage ) 10 3.00% $4,618
    U.S. Bank 10 2.63% $9,412
    Bank of England 10 2.56% $5,495
    AMERISAVE MORTGAGE CORPORATION 9 3.25% $4,529
    BancorpSouth Bank 9 2.83% $6,341
    Barrington Bank & Trust Company, N.A. 8 2.71% $2,097
    CLEARPATH LENDING 8 2.25% $4,006
    Regions Bank 7 2.93% $4,217
    FirstTrust Home Loans, Inc. 7 2.79% $4,013
    Gateway First Bank 5 3.33% $5,700
    Carrington Mortgage Services, LLC 5 2.83% $3,388
    NEWREZ LLC 5 2.75% $3,303
    Wells Fargo Bank 5 2.65% $3,558
    First Guaranty Mortgage Corporation 5 2.45% $3,558
    UNITED WHOLESALE MORTGAGE, LLC 4 2.63% $3,599
    ACCELERATE MORTGAGE, LLC 4 2.31% $3,320
    FIRST WESTERN MORTGAGE, INC. 4 2.97% $3,718
    Simmons Bank 3 2.79% $3,586
    GUILD MORTGAGE COMPANY 3 2.88% $5,321
    Priority Bank 3 2.63% $4,040
    AMERICAN FINANCIAL NETWORK, INC. 3 2.33% $6,060
    SOVEREIGN LENDING GROUP INCORPORATED 3 2.46% $3,980
    Centennial Bank 2 2.38% $8,725
    Chambers Bank 2 2.44% $10,186
    ARKANSAS Federal Credit Union 2 3.06% $5,398
    EMBRACE HOME LOANS, INC. 2 2.94% $3,293
    PLANET HOME LENDING, LLC 2 2.56% $2,581
    DAS Acquisition Company, LLC 2 2.88% $2,992
    PENTAGON FEDERAL CREDIT UNION 2 2.25% $2,671
    Magnolia Bank 2 2.25% $5,368
    North American Savings Bank, F.S.B. 2 2.38% $5,077
    Waterstone Mortgage Corporation 2 2.50% $5,672
    BROKER SOLUTIONS, INC. 2 2.75% $2,455
    First Horizon Bank 2 2.63% $2,960
    CORNERSTONE HOME LENDING, INC. 2 2.94% $3,374
    First Federal Bank 2 2.88% $9,254
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.06% $2,939
    ZILLOW HOME LOANS, LLC 1 2.50% $5,618
    AMCAP MORTGAGE, LTD. 1 3.25% $13,583
    AMERICAN FINANCIAL RESOURCES, INC. 1 4.25% $7,607
    AMERICAN FINANCING CORPORATION 1 2.38% $1,375
    BankPlus 1 2.25% $7,920
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.75% $20,163
    Chickasaw Community Bank 1 2.88% $6,295
    CITYWIDE HOME LOANS, LLC 1 3.25% $3,041
    Community First National Bank 1 3.00% $2,367
    CROSSCOUNTRY MORTGAGE, LLC 1 2.88% $7,230
    Eagle Bank and Trust Company 1 2.75% $8,248
    First Home Bank 1 2.50% $1,275
    First Savings Bank 1 3.13% $2,852
    First Security Bank 1 3.00% $1,964
    First United Bank and Trust Company 1 2.75% $3,046
    FLAT BRANCH MORTGAGE, INC. 1 3.00% $2,624
    Great Southern Bank 1 2.75% $1,525
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $11,369
    HOME POINT FINANCIAL CORPORATION 1 3.75% $3,300
    InterContinental Capital Group, Inc 1 2.88% $4,222
    LOANPAL, LLC 1 2.50% $6,799
    Meridian Bank Corporation 1 2.38% $8,900
    MID AMERICA MORTGAGE, INC. 1 3.88% $3,558
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $644
    NATIONWIDE MORTGAGE BANKERS, INC. 1 2.75% $10,838
    PHH Mortgage Corporation 1 3.25% $3,051
    PREMIA MORTGAGE, LLC 1 2.25% $14,112
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.13% $6,076
    RCB Bank 1 3.25% $8,435
    Sierra Pacific Mortgage Company, Inc. 1 2.50% $3,572
    SUCCESS MORTGAGE PARTNERS, INC. 1 2.99% $3,976
    UNION HOME MORTGAGE CORP. 1 2.38% $2,190
    UNITED 1 2.38% $9,676
    United Fidelity Funding Corp. 1 2.75% $6,446
    UNITED SECURITY FINANCIAL CORP 1 2.88% $1,913

    The top Fort Smith VA lender as defined by loan originations is Mortgage Research Center, LLC, with 124 VA loans originated. Their average total fees are $3,842, which is $960 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Fort Smith VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,053), CALIBER HOME LOANS, INC. ($2,175), VILLAGE CAPITAL & INVESTMENT LLC ($2,254), FREEDOM MORTGAGE CORPORATION ($2,330) and USAA Federal Savings Bank ($3,289).

    The lowest rate Fort Smith VA lenders (with over 10 loans originated) are Low VA Rates, LLC (2.39%), QUICKEN LOANS, LLC (2.49%), NAVY FEDERAL CREDIT UNION (2.51%), The Federal Savings Bank (2.54%) and VILLAGE CAPITAL & INVESTMENT LLC (2.55%).

    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 $148,200 (0.2%) $218,457 (5.7%) 0.55 1,326
    2018-02-01 $149,900 (2.2%) $214,443 (5.7%) 0.54 1,285
    2018-03-01 $154,900 (5.2%) $220,602 (8.7%) 0.54 1,290
    2018-04-01 $154,925 (3.4%) $230,605 (8.6%) 0.52 1,316
    2018-05-01 $157,250 (4.9%) $230,227 (6.3%) 0.52 1,330
    2018-06-01 $157,900 (4.9%) $232,966 (5.0%) 0.53 1,344
    2018-07-01 $155,000 (4.0%) $228,564 (5.7%) 0.52 1,360
    2018-08-01 $155,000 (6.2%) $226,645 (7.4%) 0.52 1,385
    2018-09-01 $154,500 (5.2%) $225,361 (4.8%) 0.52 1,391
    2018-10-01 $152,500 (2.9%) $224,141 (3.8%) 0.51 1,381
    2018-11-01 $150,000 (1.5%) $221,075 (1.3%) 0.50 1,399
    2018-12-01 $149,900 (2.3%) $220,123 (1.9%) 0.51 1,345
    2019-01-01 $149,950 (1.2%) $225,883 (3.4%) 0.52 1,300
    2019-02-01 $155,000 (3.4%) $222,775 (3.9%) 0.52 1,285
    2019-03-01 $159,014 (2.7%) $233,277 (5.8%) 0.52 1,250
    2019-04-01 $163,314 (5.4%) $242,702 (5.3%) 0.51 1,244
    2019-05-01 $164,500 (4.6%) $245,172 (6.5%) 0.51 1,243
    2019-06-01 $169,000 (7.0%) $249,649 (7.2%) 0.52 1,194
    2019-07-01 $167,000 (7.7%) $251,729 (10.1%) 0.52 1,181
    2019-08-01 $162,857 (5.1%) $244,299 (7.8%) 0.51 1,191
    2019-09-01 $160,000 (3.6%) $236,925 (5.1%) 0.51 1,205
    2019-10-01 $163,750 (7.4%) $239,834 (7.0%) 0.52 1,208
    2019-11-01 $160,000 (6.7%) $241,650 (9.3%) 0.52 1,185
    2019-12-01 $159,950 (6.7%) $241,630 (9.8%) 0.53 1,115
    2020-01-01 $164,500 (9.7%) $240,128 (6.3%) 0.55 1,073
    2020-02-01 $164,986 (6.4%) $244,489 (9.8%) 0.53 1,069
    2020-03-01 $171,900 (8.1%) $243,755 (4.5%) 0.54 996
    2020-04-01 $175,450 (7.4%) $247,756 (2.1%) 0.55 979
    2020-05-01 $179,900 (9.4%) $256,751 (4.7%) 0.55 902
    2020-06-01 $188,450 (11.5%) $265,504 (6.4%) 0.55 839
    2020-07-01 $198,750 (19.0%) $273,275 (8.6%) 0.57 783
    2020-08-01 $198,500 (21.9%) $280,068 (14.6%) 0.57 726
    2020-09-01 $195,000 (21.9%) $290,454 (22.6%) 0.56 661
    2020-10-01 $199,900 (22.1%) $289,837 (20.9%) 0.57 627
    2020-11-01 $194,450 (21.5%) $295,714 (22.4%) 0.56 578
    2020-12-01 $184,949 (15.6%) $289,313 (19.7%) 0.54 554
    2021-01-01 $184,000 (11.9%) $297,596 (23.9%) 0.54 511
    2021-02-01 $199,450 (20.9%) $312,387 (27.8%) 0.57 445
    2021-03-01 $192,250 (11.8%) $310,746 (27.5%) 0.54 406
    2021-04-01 $198,200 (13.0%) $327,856 (32.3%) 0.53 380
    2021-05-01 $222,000 (23.4%) $338,613 (31.9%) 0.58 357
    2021-06-01 $220,000 (16.7%) $324,563 (22.2%) 0.57 401
    2021-07-01 $214,450 (7.9%) $327,536 (19.9%) 0.56 485
    2021-08-01 $202,450 (2.0%) $324,285 (15.8%) 0.53 526
    2021-09-01 $199,450 (2.3%) $318,972 (9.8%) 0.52 566
    2021-10-01 $215,000 (7.6%) $328,543 (13.4%) 0.57 540
    2021-11-01 $214,950 (10.5%) $342,403 (15.8%) 0.57 457
    2021-12-01 $216,950 (17.3%) $341,799 (18.1%) 0.58 448
    2022-01-01 $214,999 (16.9%) $347,977 (16.9%) 0.57 412
    2022-02-01 $204,000 (2.3%) $332,248 (6.4%) 0.52 376
    2022-03-01 $201,500 (4.8%) $324,755 (4.5%) 0.50 402
    2022-04-01 $210,000 (6.0%) $330,934 (0.9%) 0.49 409
    Fort Smith's median listing price for 2022-04-01 was $210,000, a difference of $11,800 (6.0%) versus the prior year and $8,500 versus the prior month.

    Fort Smith's median listing price comes in at 49% of the national average.

    Fort Smith's average listing price for 2022-04-01 was $330,934, a difference of $3,078 (0.9%) versus the prior year and $6,179 versus the prior month.

    For the 2022-04-01 period, Fort Smith had 409 MLS listings, a difference of 7 listings (2%) versus the prior month and 29 listings (8%) 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
    2018-01-01 101 days 1,811 sqft
    2018-02-01 102 days 1,815 sqft
    2018-03-01 86 days 1,845 sqft
    2018-04-01 78 days 1,859 sqft
    2018-05-01 73 days 1,870 sqft
    2018-06-01 71 days 1,880 sqft
    2018-07-01 74 days 1,885 sqft
    2018-08-01 80 days 1,892 sqft
    2018-09-01 85 days 1,864 sqft
    2018-10-01 86 days 1,852 sqft
    2018-11-01 88 days 1,827 sqft
    2018-12-01 94 days 1,822 sqft
    2019-01-01 101 days 1,800 sqft
    2019-02-01 96 days 1,807 sqft
    2019-03-01 99 days 1,844 sqft
    2019-04-01 80 days 1,873 sqft
    2019-05-01 74 days 1,905 sqft
    2019-06-01 79 days 1,916 sqft
    2019-07-01 84 days 1,911 sqft
    2019-08-01 81 days 1,892 sqft
    2019-09-01 72 days 1,872 sqft
    2019-10-01 73 days 1,856 sqft
    2019-11-01 79 days 1,843 sqft
    2019-12-01 91 days 1,850 sqft
    2020-01-01 98 days 1,850 sqft
    2020-02-01 93 days 1,846 sqft
    2020-03-01 85 days 1,878 sqft
    2020-04-01 80 days 1,918 sqft
    2020-05-01 84 days 1,951 sqft
    2020-06-01 80 days 1,951 sqft
    2020-07-01 76 days 1,995 sqft
    2020-08-01 73 days 1,997 sqft
    2020-09-01 69 days 2,002 sqft
    2020-10-01 57 days 2,019 sqft
    2020-11-01 59 days 1,993 sqft
    2020-12-01 67 days 1,917 sqft
    2021-01-01 73 days 1,896 sqft
    2021-02-01 68 days 1,932 sqft
    2021-03-01 50 days 1,812 sqft
    2021-04-01 41 days 1,819 sqft
    2021-05-01 38 days 1,882 sqft
    2021-06-01 32 days 1,890 sqft
    2021-07-01 31 days 1,857 sqft
    2021-08-01 37 days 1,868 sqft
    2021-09-01 39 days 1,837 sqft
    2021-10-01 49 days 1,880 sqft
    2021-11-01 55 days 1,857 sqft
    2021-12-01 64 days 1,879 sqft
    2022-01-01 62 days 1,850 sqft
    2022-02-01 50 days 1,816 sqft
    2022-03-01 36 days 1,805 sqft
    2022-04-01 38 days 1,800 sqft
    Fort Smith's median listing age (time on market) for 2022-04-01 was 38 days. This is -6% shorter than the same period one year ago.

    Fort Smith's median square footage for active listings during the 2022-04-01 period was 1,800 sqft. One year prior, the average listing was 1,819 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.