Arkansas Mortgage Calculator

Arkansas mortgage calculator: a realistic payment in a few minutes

Use the calculator on this page to estimate a monthly mortgage payment for a home in Arkansas. Arkansas is still one of the more affordable housing markets in the country, but at today's rates a small change in price, down payment, or loan type can still move the payment by a few hundred dollars. This guide gives you current Arkansas inputs, explains the state's homestead credit and assessment cap, and shows how FHA, VA, USDA, and ADFA programs change the result. Summit Lending LLC (NMLS 2394434) is a mortgage broker licensed in Arkansas, and we compare loans from multiple wholesale lenders.

Summit Lending LLC, NMLS 2394434, is based at 4542 W 14800 N, Garland, UT 84312 and serves borrowers in Utah, Texas, Idaho, Wyoming, Arkansas, and Arizona. Call 385-200-1470 or email [email protected].

Arkansas numbers to start with

Redfin reported a statewide median sale price of about $275,901 for August 2026, up 2.2% from a year earlier. About 2,998 homes sold, down 4.4%, and the typical home sold in about 57 days. Inventory grew to roughly 19,052 homes for sale, up 5.9%, which is about five months of supply. Homes sold for about 97.0% of list price on average (Redfin Arkansas data). That combination usually means buyers have some room to negotiate on price or ask for help with closing costs.

A statewide median is only a starting point. Prices in northwest Arkansas around Bentonville and Centerton can look very different from central Arkansas towns like Little Rock, North Little Rock, and Cabot, or from smaller Delta communities, so plug in a price from recent sales in the town you are shopping.

Rates set the base of every estimate. Freddie Mac's weekly survey put the average 30-year fixed rate at 7.28% for the week of October 1, 2026, up from 7.03% a week earlier and 6.34% a year ago. The 15-year average was 6.60% (Freddie Mac PMMS; history on FRED). Those are national averages for borrowers with strong credit and roughly 20% down, not Arkansas quotes. Freddie Mac publishes a new reading every Thursday (PMMS page), so if you are running numbers a few weeks from now, update the rate first.

Worked example: a $275,000 Arkansas home

Take a $275,000 home with 10% down, so the loan is $247,500. At the 7.28% survey average, principal and interest on a 30-year fixed is about $1,693 a month. A year ago, at 6.34%, it would have been about $1,538. A 15-year fixed at 6.60% costs about $2,170 a month, with total interest over the full term of about $143,032, compared with about $362,133 on the 30-year at 7.28%.

Add property tax, homeowners insurance, PMI if you put less than 20% down, and any HOA dues to get the full payment. Insurance deserves a real quote, since wind, hail, and severe storms affect premiums across much of the state.

Arkansas property tax: the homestead credit and the 5% cap

Arkansas gives owner-occupied homes a homestead property tax credit. The Department of Finance and Administration says the credit is up to $500 and is increasing to up to $600 beginning with 2026 tax bills. Amendment 79 also limits how much the assessed value of a homestead can rise, to 5% a year, and homeowners who are 65 or older or disabled can have their assessed value frozen (Arkansas DFA property tax relief).

For the calculator, start with the most recent tax bill for the address. If the seller has owned the home for years, their assessed value may be held down by the cap, and a sale can bring a reassessment. Apply for the homestead credit with your county assessor after you move in.

How the loan type changes your Arkansas result

Most online calculators assume a conventional loan with a fixed rate, which can make the number look better or worse than what you would actually get. Here is how the same $275,000 Arkansas home changes by program, using the 7.28% survey average as a stand-in rate. Your actual rate will differ by program and profile.

Conventional

Qualified buyers can put as little as 3% down on a one-unit primary home, which is $8,250 on $275,000 (Fannie Mae eligibility matrix). Below 20% down you pay private mortgage insurance, and you can ask to cancel it once the balance reaches 80% of the original value (CFPB on PMI). PMI is priced by credit score and down payment, so add it as a separate line in the calculator rather than guessing.

FHA

FHA requires 3.5% down with a 580 or higher score (HUD FHA overview). It also adds two insurance costs a basic calculator often skips: an upfront premium of 1.75% that is usually financed into the loan, and an annual premium paid monthly. For a base loan of $726,200 or less with more than 95% loan-to-value, the annual rate is 0.55% (HUD Mortgagee Letter 2023-05). On $275,000 with 3.5% down, the base loan is $265,375, the upfront premium adds $4,644, and principal and interest on $270,019 is about $1,848 at 7.28%. The monthly premium adds roughly $122, for about $1,969 before taxes and insurance. In 2026, FHA limits in the Little Rock and Fayetteville-Springdale-Rogers metros, and most other Arkansas counties, are at the $541,287 national floor.

VA

Eligible veterans and service members can buy with no down payment and no monthly mortgage insurance (VA purchase loans). A one-time funding fee applies unless you are exempt, and for first use with less than 5% down it is 2.15% of the loan (VA funding fee). Financing that fee on $275,000 brings the loan to about $280,912, with principal and interest near $1,922 at 7.28%.

USDA

USDA guaranteed loans allow no down payment in eligible rural areas for households under the income limits (USDA guaranteed loans). A large share of Arkansas outside the bigger cities can qualify. Check an address on the USDA eligibility map before you count on it.

2026 loan limits in Arkansas

The 2026 conforming loan limit is $832,750 for a one-unit home in all 75 Arkansas counties (FHFA announcement, FHFA county file). The FHA floor is $541,287 (HUD announcement), and you can confirm any county on the HUD lookup.

ADFA programs and down payment help

The Arkansas Development Finance Authority (ADFA) offers home loans and down payment assistance through participating lenders. Its guidelines, revised in June 2026, describe these options (ADFA program guidelines):

• Move-Up. No first-time buyer requirement, a qualifying income limit of $142,000, and a minimum median credit score of 640 (ADFA Move-Up).
• Down payment assistance. From $1,000 up to $15,000 as a second mortgage repaid over 10 years at the same rate as the first mortgage. The maximum debt-to-income ratio is 45%, including the assistance payment (ADFA DPA).
• StartSmart. For first-time buyers (no ownership in the past three years), with a $500,000 purchase price limit.

Because ADFA assistance is repayable, add its monthly payment to the estimate. On a 10-year second loan, even $10,000 adds a noticeable amount each month.

From a calculator estimate to a real number

1. Run a few scenarios here. Try two prices, two down payments, and both a 30-year and 15-year term so you know your range.
2. Get preapproved. A preapproval means a lender checked your credit, income, and assets. The CFPB points out that lenders use the terms prequalification and preapproval differently, so ask what was verified (CFPB comparison). Several mortgage credit checks within 45 days count as one inquiry for most scoring models, so shopping does not hurt your score more than once (CFPB on credit checks).
3. Compare Loan Estimates. Lenders must send a Loan Estimate within three business days of your application, and the standard format makes side-by-side comparison easy (CFPB on Loan Estimates).
4. Watch your debt-to-income ratio. Lenders compare your monthly debts, including the new payment, to gross monthly income (CFPB on DTI). A payment that fits your budget can still be too high for a program limit, or the reverse.
5. Check the final numbers. Your Closing Disclosure arrives at least three business days before closing. Compare it to your Loan Estimate line by line (CFPB on Closing Disclosures).

Arkansas city and county calculators

For a closer local estimate, open the calculator for your area: Little Rock, North Little Rock, Bentonville, Centerton, Cabot, Beebe, Paragould, Blytheville, and Arkadelphia. County pages include Pulaski County, Benton County, Washington County, Sebastian County, Faulkner County, Saline County, Craighead County, Garland County, Lonoke County, and White County.

Other states we serve

Summit also runs calculators for Texas, Utah, Idaho, and Wyoming, all listed on the main loan calculator page. For general loan options, see mortgage loans and purchase loans. For Arkansas specifically, start with Arkansas preapproval, compare Arkansas purchase loans, or read about Arkansas first-time home buyer programs.

Sources

• Redfin, Arkansas housing market
• Freddie Mac PMMS, Oct 1, 2026 release
• Freddie Mac Primary Mortgage Market Survey
• FRED, 30-Year Fixed Rate Mortgage Average
• Arkansas DFA, property tax relief
• Fannie Mae Eligibility Matrix
• CFPB, private mortgage insurance
• HUD, Let FHA loans help you
• HUD Mortgagee Letter 2023-05, FHA annual MIP (PDF)
• VA purchase loan
• VA funding fee and closing costs
• USDA Single Family Housing Guaranteed Loan Program
• USDA property eligibility map
• FHFA, 2026 conforming loan limits
• FHFA 2026 county loan limit list
• HUD No. 25-145, 2026 FHA loan limits
• HUD FHA mortgage limits lookup
• ADFA single-family program guidelines, rev. June 2026 (PDF)
• ADFA Move-Up loan program
• ADFA down payment assistance program
• CFPB, prequalification vs. preapproval
• CFPB, when a lender checks your credit
• CFPB, What is a Loan Estimate?
• CFPB, debt-to-income ratio
• CFPB, What is a Closing Disclosure?

Information on this page is for general education and is current as of October 2026. It is not a commitment to lend or a rate quote. Program rules, limits, and availability change, and approval depends on your credit, income, assets, property, and lender guidelines. Summit Lending LLC, NMLS 2394434. Equal Housing Opportunity.