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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.

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Hot Springs, AR Mortgage Rates as of January 21, 2022
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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.
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How Do Today's Hot Springs, AR Mortgage Rates Compare?

January 21, 2022

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
Today's
Hot Springs, AR Rates
National
Average
Comparison
30 Year Fixed Rate
%
3.450%
15 Year Fixed Rate
%
2.620%
5/1 Adjustable Rate Mortgage
%
2.570%

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 $167,337

Based on current mortgage rates and a 10% down payment, you need to make $27,418 per year to buy the median priced home in Hot Springs

With this income, you could qualify for a $150,604 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 $635

The median household income for Hot Springs, AR (Garland County) is $48,926

Based on this income, you can afford a home valued at approximately $298,608

The home price you can afford to buy based on household income in Hot Springs is 178% of the median home value which means housing prices are average. Hot Springs (Garland County) ranks 69 out of 75 counties in Arkansas and 2,154 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

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

FHA loan limits for Hot Springs, AR

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

VA loan limits for Hot Springs, AR

1 unit: $647,200

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