Fort Smith VA Loans

FORT SMITH, AR-OK

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.