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Fort Smith

Current Mortgage Rates in Fort Smith, Arkansas

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.

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Mortgage Rates in Fort Smith, AR as of August 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 Fort Smith, AR Mortgage Rates Compare?

August 19, 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%

Mortgage Program
Today's
Fort Smith, AR Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Fort Smith, Arkansas?

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 by 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

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

FHA loan limits for Fort Smith, AR

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

VA loan limits for Fort Smith, AR

1 unit: $484,350

Additional Mortgage Resources for Fort Smith, AR Residents

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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