Compare mortgage rates and fees for leading lenders in Fort Smith, 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 Fort Smith.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Fort Smith. Plus, shopping lenders is free and there is no obligation.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Fort Smith 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%
The median home value for Fort Smith, AR (Sebastian County) is $131,309
The median household income for Fort Smith, AR (Sebastian County) is $42,183
Based on current mortgage rates and a 10% down payment, you need to make $24,362 per year to buy the median priced home in Fort Smith
The home price you can afford to buy based on household income in Fort Smith is 173% of the median home value which means housing prices are average
Fort Smith (Sebastian County) ranks 65 out of 75 counties in Arkansas and 2,137 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Fort Smith, AR is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fort Smith (Sebastian County) below.
Conforming loan limits for Fort Smith, AR
FHA loan limits for Fort Smith, AR
VA loan limits for Fort Smith, AR
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