Loading
Tap on the profile icon to edit
your financial details.

Arkansas Mortgage Rates

Your Details Done

Use SmartAsset's mortgage comparison tool to compare mortgage rates from the top banks and find the one that best suits your needs.

Overview of Arkansas Mortgages

Home to rugged parkland, beautiful trails and presidential exhibits, Arkansas is mid-range in terms of size and population. If you’re in the market for a home in Arkansas, you can expect mortgage rates roughly in line with the nation’s trends.

Arkansas counties’ conforming loan limits and FHA loan limits are average.

Today's Mortgage Rates in Arkansas

Product Today Last Week Change

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
Details
Add your details
Purchase or Refinance
Select Purchase or Refinance
Do this later
Dismiss
Add your details
Location
Location
Enter your location Do this later
Dismiss
Add your details
Target Home Price
Target Home Value
Enter target home value
Do this later
Dismiss
Add your details
Down Payment
Down Payment
Enter down payment
$0
Do this later
Dismiss
Add your details
Current Home Value
Current Home Value
Enter current home value
Do this later
Dismiss
Add your details
Current Mortgage Balance
Current Mortgage Balance
Enter current mortgage balance
Do this later
Dismiss
Add your details
Credit Score
Credit Rating
Select Your Credit Rating Do this later
Dismiss
Update your information here.
OK
Filter Results
FHA/VA Loans
Filter Results
Loan Type
Property Type
Points
15 yr Fixed... 30 yr Fixed... 3/1 ARM... 5/1 ARM... 7/1 ARM...
Property Type Single Family Condo Multi Unit
Points 0 points 1 or less 2 or less 3 or less 4 or less
FHA/VA Loans
Loan Type




Property Type


Points





Loan Type
APR
Payment
Get your real, customized rate in minutes
Get started today with Quicken Loans.
Advertisement
$0 Down VA Loan for Veterans
Find out if you qualify for this powerful homebuying benefit. Get a quote today!
No mortgages found. Please change your search criteria and try again.
Searching for Mortgages...
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.
Disclosure
Source: Bankrate.com
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
How helpful was this page in answering your question?
not helpful
very helpful
​If you could change one thing about ​this page what would it be?​
Thank you for your answer! Your feedback is very important to us.
We are working hard to improve our product and could use your help!
We pay $30 for 30 minutes on the phone to hear your thoughts on what we can do better.
Please enter your email if you'd like to be contacted to help.

Please enter your name
Photo Credit: ©iStock.com/BlazenImages
Arkansas Mortgage Rates Quick Facts
  • Average Home Value: $114,700 (zillow.com)
  • Loan Funding Rate: 59.1%
  • Average Mortgage Rate: 4.08%
  • Homeownership Rate: 67.1% (St. Louis Fed)
  • Average Annual Mortgage Payment: $5,309

Historical Mortgage Rates in Arkansas

Arkansas mortgage rates historically hit right in line with the national average, for the most part. So far, 2016 Arkansas mortgage rates are running a bit lower than the average U.S. rates.

Arkansas Historic Mortgage Rates

YearArkansas RateU.S. Rate
198213.8514.73
198312.0812.26
198411.4811.99
198510.2211.17
19869.869.79
19878.888.95
19888.208.98
19899.549.81
19909.759.74
19919.299.07
19927.997.83
19937.006.93
19946.907.31
19957.327.69
19967.357.58
19977.407.52
19986.886.97
19997.297.14
20007.987.86
20016.826.94
20026.556.44
20035.845.67
20046.005.68
20055.945.85
20066.526.54
20076.476.42
20086.156.06
20094.935.05
20104.704.81
20114.574.56
20123.683.65
20133.943.84
20144.124.13
20153.883.88

Arkansas Mortgages Overview

Homes in the Natural State are sold for cheaper than average compared to the rest of the country. The average single-family home costs $155,500, which is significantly below the nation’s average of $229,737, according to Zillow.

Arkansas Mortgage Rates

Single-Family Homes
Percentage of Homes78.10%
Average Property Value$140,439.30
Condominiums
Percentage of Homes7.50%
Average Property Value$150,214.87
PUD Homes
Percentage of Homes10.30%
Average Property Value$142,503.33
Townhomes
Percentage of Homes4.10%
Average Property Value$121,347.89

Every county in the state has a standard conforming loan limit of $417,000. That data reflects the general affordability of purchasing a mortgage in Arkansas as compared to the rest of the nation. So whether you’re home shopping in Little Rock or building an oasis in Ozark country, your loan limit will remain the same.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Apache$417,000 $271,050
Cochise$417,000 $271,050
Coconino$417,000 $362,250
Gila$417,000 $271,050
Graham$417,000 $271,050
Greenlee$417,000 $271,050
La Paz$417,000 $271,050
Maricopa$417,000 $271,050
Mohave$417,000 $271,050
Navajo$417,000 $271,050
Pima$417,000 $271,050
Pinal$417,000 $271,050
Santa Cruz$417,000 $271,050
Yavapai$417,000 $271,050
Yuma$417,000 $271,050

Arkansas is a “caveat emptor,” or “buyer beware” state. As such responsibility falls heavily on the buyer to uncover any defects with the property prior to purchasing. For states where this is the case, property inspections – while not mandatory – are a crucial step in the purchase process. Purchasing a home sans inspection generally means you are accepting the property as-is. Sellers should also consider disclosing certain conditions, as real estate agents may still be required to do so.

30-Year Fixed Mortgage Rates in Arkansas

A fixed-rate mortgage is one in which the interest rate remains the same for the duration of the loan. A 30-year fixed-rate mortgage is the most popular, and tends to be a solid option for a buyer who plans to stay in their home for a long time. You can also consider a 15-year mortgage which will have lower interest as compared to a 30-year mortgage but higher monthly payments. The average Arkansas mortgage rate for fixed-rate 30-year mortgages is 4.19%.

Arkansas Jumbo Loan Rates

Due to the affordability of homes in Arkansas, there are less “jumbo loan” mortgages out there. These are loans that exceed the $417,000 conforming loan limit that exists in every Arkansas county. If you are considering a jumbo loan for your mortgage, be aware that they come with higher interest rates. The average jumbo loan rate in Arkansas is 4%.

Arkansas ARM Loan Rates

Unlike a fixed-rate mortgage, the interest rate on an adjustable-rate mortgage changes over time. An ARM offers a lower rate for an introductory period between one and 10 years. When that period ends, the rate can change and it will generally rise. The loan’s terms will lay out how many times the interest rate can rise and also the highest possible amount it can reach. It is important to make sure that the maximum potential rate increase is one that you would be able to afford to pay before you decide on an ARM.

The average rate for an ARM in Arkansas is 2.88%).

Arkansas Mortgage Resources

If you need help becoming or remaining a homeowner in Arkansas, there are programs in place to help cut down on costs and secure a loan.

The Arkansas Development Finance Authority has several options for first time homebuyers in particular. Loan programs, tax credits and down payment assistance are available for anyone who qualifies. They also offer “move up” programs to help all homebuyers access an affordable mortgage.

For anyone looking specifically for educational opportunities and budget counseling, the In Affordable Housing group hosts classes in Arkansas on buying a home. They also offer home purchase assistance, as well as credit and budget counseling.

Available Resources

ResourceProblem or IssueWho QualifiesWebsite
Arkansas Development Finance AuthorityAffording a first home/down payment.Mostly first-time homebuyers, but there are "move up" programs available for repeat homebuyers.http://adfa.arkansas.gov/
In Affordable Housing - Little Rock, ARSeeking education and counseling.Anyone looking for education on buying a home or working out a home budget.http://www.in-affordablehousing.org/
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; and not be suspended or debarred from participation in federal programs.http://www.rd.usda.gov/programs-services/single-family-housing-direct-home-loans/ar
Home Affordable Refinance ProgramRefinancing.Single family homes and condos that fit within lending loan limits.http://www.harp.gov/

Arkansas homeowners also have the option to apply for the United States Department of Agriculture Rural Development program. The program provides loans and grants to people in rural communities who want to buy a new house or repair their current home.

Arkansas Mortgage Taxes

Homeowners are allowed to deduct the mortgage interest they pay when they file their federal income taxes (up to $1,000,000), and this applies for Arkansas state income taxes as well. You can double your deductions for the qualifying mortgage interest payments you have made in the tax year by including it on both state and federal filings.

Arkansas also charges taxes on real estate property title transfers. The state real estate transfer tax for Arkansas is 0.33%, or $3.30 per $1,000. Discuss this tax with your lawyer or accountant before buying; in Arkansas, the buyer and seller typically split this fee.

Arkansas Mortgage Refinance

There are resources out there to help you effectively refinance your Arkansas home. One tried-and-true option is the Home Affordable Refinance Program of Arkansas, which can grant access to interest and principal payment reductions and low closing costs if you qualify. The Arkansas HARP accepts single family homes and condos.

If you don’t qualify for HARP or a similar program, you can work with the lender who issued you your mortgage and compare those rates with other lenders to find the solution that works best for you.

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2015 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset