Little Rock Mortgage Calculator

Little Rock mortgage calculator: a clear estimate for central Arkansas

Little Rock is still one of the more affordable capital cities in the country, but prices have moved up quickly this year, so a payment estimate built on last year's numbers will be off. This page gives you current Little Rock figures, a worked example near the city median, and the Arkansas tax credits and ADFA programs that change what you pay. Summit Lending LLC (NMLS 2394434) is a mortgage broker licensed in Arkansas. We compare loans from multiple wholesale lenders and can turn an estimate into a real quote for a home in Little Rock or anywhere in Pulaski County.

When you are ready for a firm number, start with our mortgage preapproval or read about home 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].

Little Rock numbers to start with

Redfin put Little Rock's median sale price at about $295,804 for August 2026, up 12.7% from a year earlier. About 699 homes sold that month and the typical home took around 53 days to go under contract (Redfin Little Rock data). The statewide Arkansas median was about $275,901 (Redfin Arkansas data). A double-digit annual jump in a city median can partly reflect which homes happened to sell, so check recent sales on the streets you are shopping, but it is a sign that the price input deserves real attention.

Around 53 days on market means you usually have time to inspect, compare, and negotiate. That is useful, because seller credits toward closing costs or a rate buydown can lower the payment more than a small price cut.

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 Little Rock 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 Little Rock payment

• Principal and interest. The core calculator result.
• Property tax. Arkansas assesses property at 20% of market value, and your millage depends on the school district and city. The homestead credit then reduces the bill. Use the most recent bill for the address as your starting point.
• Homeowners insurance. Central Arkansas sees severe storms and hail, so get a real quote instead of guessing.
• Mortgage insurance. PMI on conventional loans with less than 20% down, or FHA's annual premium.
• HOA dues. More common in west Little Rock subdivisions and newer areas toward Saline County.

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 Pulaski County assessor once the home is your primary residence.

Worked example: a $295,000 Little Rock home

Take a $295,000 home near the city median with 10% down. The loan is $265,500. At 7.28%, principal and interest on a 30-year fixed is about $1,817 a month. At last year's 6.34%, it would have been about $1,650, roughly $166 less each month.

A 15-year fixed at 6.60% raises principal and interest to about $2,327, but total interest falls to about $153,434, compared with about $388,470 over 30 years at 7.28%. Because Little Rock prices are moderate, the gap between 30-year and 15-year payments is smaller in dollars than in pricier markets, so a 15-year can be more realistic here than many buyers assume.

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 $295,000 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 $8,850 on $295,000 (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 $295,000 with 3.5% down, the base loan is $284,675, the upfront premium adds $4,982, and principal and interest on $289,657 is about $1,982 at 7.28%. The monthly premium adds roughly $130, for about $2,112 before taxes and insurance. The 2026 FHA one-unit limit in Pulaski and Saline counties is $541,287, so this price fits easily.

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 $295,000 brings the loan to about $301,342, with principal and interest near $2,062 at 7.28%.

USDA

USDA guaranteed loans allow no down payment in eligible rural areas for households under the income limits (USDA guaranteed loans). Little Rock itself is not USDA eligible, but rural areas farther out in the region can be. Check an address on the USDA eligibility map before you count on it.

2026 loan limits

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 one-unit limit in Pulaski County and Saline County is $541,287, the national floor (HUD announcement, 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. A $10,000 assistance loan over 10 years at 7.28% 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

Central Arkansas: North Little Rock, Cabot, Alexander, Wrightsville, Pulaski County, Saline County, Faulkner County, Lonoke County, and Conway County. Elsewhere in the state: Bentonville, Benton County, Washington County, and Sebastian County. Or use the statewide Arkansas mortgage calculator.

Related pages

Thinking about a refinance instead? See refinance options. Building? See construction loans. Homeowners 62 and older can read about reverse mortgages. Our main loan calculator page links to calculators for every state we serve.

Sources

• Redfin, Little Rock housing market
• 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.