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Fort Smith

Compare Current Fort Smith, Arkansas Mortgage Rates

Compare Fort Smith, AR mortgage rates and fees from top lenders. 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 lowest 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.

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Fort Smith, AR Mortgage Rates as of June 30, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Fort Smith, AR Mortgage Rates

June 30, 2022

Current mortgage rates in Fort Smith, AR are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Fort Smith, AR Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.810%
15 Year Fixed Rate
%
4.920%
5/1 Adjustable Rate Mortgage
%
4.410%

How Affordable is Housing in Fort Smith, Arkansas?

Below we provide helpful information on the real estate market, home prices and housing affordability in Fort Smith. Understand how much you need to earn to afford a home in Fort Smith, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fort Smith fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Fort Smith is right for you.

The median home value for Fort Smith, AR (Sebastian County) is $168,377

Based on current mortgage rates and a 10% down payment, you need to make $27,588 per year to buy the median priced home in Fort Smith

With this income, you could qualify for a $151,539 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Fort Smith is $639

The median household income for Fort Smith, AR (Sebastian County) is $52,789

Based on this income, you can afford a home valued at approximately $322,185

The home price you can afford to buy based on household income in Fort Smith is 191% of the median home value which means housing prices are average. Fort Smith (Sebastian County) ranks 58 out of 75 counties in Arkansas and 1,909 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

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Loan Limits for Fort Smith, Arkansas

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

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Fort Smith, AR

1 unit: $420,680
2 units: $538,650
3 units: $651,050
4 units: $809,150

VA loan limits for Fort Smith, AR

1 unit: $647,200

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