Hot Springs

Compare Current Hot Springs, Arkansas Mortgage Rates

Compare Hot Springs, 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 Hot Springs.

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

Hot Springs, AR Mortgage Rates as of May 25, 2024
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Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Hot Springs, AR Mortgage Rates

May 25, 2024

Current mortgage rates in Hot Springs, 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
Hot Springs, AR Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Hot Springs, Arkansas?

Below we provide helpful information on the real estate market, home prices and housing affordability in Hot Springs. Understand how much you need to earn to afford a home in Hot Springs, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Hot Springs 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 Hot Springs is right for you.

The median home value for Hot Springs, AR (Garland County) is $177,166

Based on current mortgage rates and a 10% down payment, you need to make $36,960 per year to buy the median priced home in Hot Springs

With this income, you could qualify for a $159,449 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 Hot Springs is $856

The median household income for Hot Springs, AR (Garland County) is $48,390

Based on this income, you can afford a home valued at approximately $231,959

The home price you can afford to buy based on household income in Hot Springs is 131% of the median home value which means housing prices are average. Hot Springs (Garland County) ranks 68 out of 75 counties in Arkansas and 2,308 out of 3,142 counties in the United States for housing affordability.

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


Loan Limits for Hot Springs, Arkansas

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

Conforming loan limits for Hot Springs, AR

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Hot Springs, AR

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Hot Springs, AR

1 unit: $726,200

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