Craighead County Mortgage Calculator

Craighead County mortgage calculator: plan the whole payment

Craighead County in northeast Arkansas centers on Jonesboro, the largest city in the region and home of Arkansas State University, along with Bono, Brookland, Lake City, Monette, Caraway, and Bay. It is one of the few Arkansas counties with two county seats, Jonesboro and Lake City. This page gives you current Craighead County numbers, a worked example near the local median, and the Arkansas tax and loan rules that belong in any honest estimate. Summit Lending LLC (NMLS 2394434) is a mortgage broker based in Garland, Utah. We compare loans from multiple wholesale lenders and can turn your calculator result into a real quote for a home in Craighead County.

Ready to shop? Start a Craighead County preapproval, or read about Craighead County purchase loans.

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].

Craighead County numbers to start with

Redfin put the Craighead County median sale price at about $235,000 for the three months ending September 2026, up 8.5% from the same period a year earlier. About 136 homes sold in September, compared with 122 a year earlier, and homes took a median of about 50 days to sell, versus 64 days last year, with an average sale-to-list ratio near 97.0% (Redfin Craighead County data). Prices are up from a year ago, homes are selling about two weeks faster than last year, more homes sold than last September, and the average home sells about 3% under list, so buyers still have room to negotiate.

For the wider area, compare nearby Monette, Greene County, Paragould, Poinsett County, Mississippi County, and Lawrence County. Much of the county is farmland, and homes outside Jonesboro may use a well or septic system or sit in low-lying areas near the Cache and St. Francis rivers, so check flood zone status before you set a budget.

Rates set the base of every estimate. Freddie Mac's weekly survey put the average 30-year fixed rate at 7.40% for the week of October 8, 2026, up from 7.28% a week earlier and 6.30% a year ago. It was the seventh weekly increase in a row and the highest reading since November 2023. The 15-year average was 6.73% (AP report on the Oct 8 survey; weekly history in the PMMS archive and on FRED). Those are national averages for borrowers with strong credit and roughly 20% down, not Craighead County 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.

What goes into a Craighead County payment

• Principal and interest. The calculator's core result, set by price, down payment, rate, and term.
• Property tax. Arkansas assesses property at 20% of market value and applies local millage. A homestead credit of up to $600 applies starting with 2026 bills.
• Homeowners insurance. Ask about wind and hail coverage, and check flood zone status near creeks and rivers. Northeast Arkansas also sees severe spring storms, so ask about the wind and hail deductible.
• Mortgage insurance. PMI on conventional loans with less than 20% down, or FHA's annual premium.
• HOA dues. Uncommon outside newer Jonesboro subdivisions.

Arkansas property tax relief

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). You claim the credit with the Craighead County Assessor once the home is your primary residence.

For the calculator, start with the seller's latest bill and subtract nothing until you know whether the seller already had the credit or a freeze. A home owned for many years by a senior can show a frozen bill that resets when you buy. Students and investors buy many homes near Arkansas State, and a former rental will not have carried the homestead credit, so the seller's bill may not match yours.

Worked example: a $235,000 home in Craighead County

Take a $235,000 home near the Craighead County median with 10% down. The loan is $211,500. At 7.40%, principal and interest on a 30-year fixed is about $1,464 a month. At last year's 6.30%, the same loan would have been about $1,309, so the rate change alone adds about $155 a month.

A 15-year fixed at 6.73% raises the payment to about $1,869, while total interest drops to about $124,963, compared with about $315,678 over 30 years at 7.40%. Add tax, insurance, PMI, and HOA dues for the full number. If it is more than you want to carry, compare a lower price point, a larger down payment, a temporary or permanent rate buydown paid by the seller, or ADFA down payment assistance.

How the loan type changes your Craighead County 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 $235,000 Craighead County home changes by program, using the 7.40% 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 $7,050 on $235,000 (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 $235,000 with 3.5% down, the base loan is $226,775, the upfront premium adds $3,969, and principal and interest on $230,744 is about $1,598 at 7.40%. The monthly premium adds roughly $104, for about $1,702 before taxes and insurance. The 2026 FHA one-unit limit in Craighead County is $541,287, the national floor, so this price fits with plenty of room.

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 $235,000 brings the loan to about $240,052, with principal and interest near $1,662 at 7.40%.

USDA

USDA guaranteed loans allow no down payment in eligible rural areas for households under the income limits (USDA guaranteed loans). Jonesboro itself is generally not eligible, but many smaller towns and rural parts of the county can be. Check an address on the USDA eligibility map before you count on it.

2026 loan limits in Craighead County

The 2026 conforming loan limit for a one-unit home in Craighead County is $832,750 (FHFA announcement, FHFA county file). The FHA one-unit limit is $541,287, the 2026 national floor for the Jonesboro metro (HUD announcement, HUD lookup). With prices this far below the limits, FHA, VA, USDA, and conventional all fit most of the market.

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. A $10,000 assistance loan over 10 years at 7.40% adds about $118 a month. See our first-time home buyer guide for more on how assistance fits with FHA and conventional loans.

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).

Calculators for nearby areas

Northeast Arkansas: Monette, Greene County, Paragould, Poinsett County, Mississippi County, Lawrence County, and Jackson County. Elsewhere in Arkansas: Little Rock, Pulaski County, North Little Rock, and Benton County. Or use the statewide Arkansas mortgage calculator.

Related pages

Buying here? Our Craighead County preapproval page covers documents and what lenders check, and Craighead County purchase loans compares FHA, VA, USDA, conventional, and ADFA options. Thinking about a refinance instead? See refinance options. Building? See construction loans. Homeowners 62 and older can read about reverse mortgages. Statewide, use the Arkansas mortgage calculator, and our main loan calculator page links to calculators for every state we serve.

Sources

• Redfin, Craighead County, AR housing market
• Redfin, Arkansas housing market
• AP via WTOP, Freddie Mac rates for Oct 8, 2026
• Freddie Mac PMMS archive
• Freddie Mac Primary Mortgage Market Survey
• FRED, 30-Year Fixed Rate Mortgage Average
• Arkansas DFA, property tax relief
• Craighead County Assessor
• 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.