Mortgage Calculator — Arkansas
Pre-filled with Arkansas's average home price of $185000, property tax rate of 0.37%, and average insurance of $2000/year. Adjust any value below.
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Arkansas Housing Market
Arkansas has extremely low home prices and property taxes, making it one of the most affordable states in the nation. The Northwest Arkansas region — Fayetteville, Bentonville — has grown rapidly, driven by Walmart headquarters and supplier presence.
Affordability in Arkansas
Arkansas is among the lowest-cost states for homeownership. Even at modest incomes of $40,000–$50,000, buyers can qualify for median-priced homes in most markets. Northwest Arkansas commands a premium but remains affordable nationally.
Key Markets
First-Time Buyer Programs in Arkansas
ADFA Move-Up
Fixed-rate conventional loan for first-time and repeat buyers, with income limits.
ADFA Down Payment Assistance
Second loan toward down payment and closing costs, paired with an ADFA first mortgage.
Programs are run by the Arkansas Development Finance Authority (ADFA). Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in Arkansas
Homes are assessed at 20% of market value. Increases in a homestead's assessed value are capped at 5% a year, and the Homestead Property Tax Credit lowers bills further. At Arkansas's average effective rate of 0.37%, a $185,000 home pays roughly $680/year (about $57/month).
Arkansas Conforming Loan Limit
In 2026, the conforming loan limit is $832,750 in most counties. Designated high-cost areas can go up to $1,249,125. Loans above the limit are jumbo loans and usually need a larger down payment.
Closing Costs in Arkansas
Arkansas's real property transfer tax is $3.30 per $1,000 (0.33%). By law it is the buyer's responsibility unless the contract says otherwise.
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