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.

Mortgage Rates in Fort Smith, AR as of September 24, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Fort Smith, AR Mortgage Rates Compare?

September 24, 2020

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
Fort Smith, AR Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

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 $139,188

Based on current mortgage rates and a 10% down payment, you need to make $25,050 per year to buy the median priced home in Fort Smith

With this income, you could qualify for a $125,269 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 $580

The median household income for Fort Smith, AR (Sebastian County) is $43,169

Based on this income, you can afford a home valued at approximately $239,860

The home price you can afford to buy based on household income in Fort Smith is 172% of the median home value which means housing prices are average. Fort Smith (Sebastian County) ranks 66 out of 75 counties in Arkansas and 2,122 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


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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Fort Smith, AR

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Fort Smith, AR

1 unit: $510,400

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