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Conway

Current Mortgage Rates in Conway, Arkansas

Compare mortgage rates and fees for leading lenders in Conway, AR. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Conway.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Conway. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Conway, AR as of October 19, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Conway, AR Mortgage Rates Compare?

October 19, 2019

The current average rate for a 30 year fixed rate mortgage in Conway is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Conway, AR Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Conway, Arkansas?

The median home value for Conway, AR (Faulkner County) is $171,312

The median household income for Conway, AR (Faulkner County) is $51,854

Based on current mortgage rates and a 10% down payment, you need to make $31,784 per year to buy the median priced home in Conway

The home price you can afford to buy based on household income in Conway is 163% of the median home value which means housing prices are average

Conway (Faulkner County) ranks 71 out of 75 counties in Arkansas and 2,320 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Conway, AR is average

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Loan Limits for Conway, Arkansas

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Conway (Faulkner County) below.

Conforming loan limits for Conway, AR

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Conway, AR

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Conway, AR

1 unit: $484,350

Additional Mortgage Resources for Conway, AR Residents

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Springdale Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index