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Buying a home

Data from November 2026

Buying a home in Arkansas

A typical home in Arkansas is worth $188,000 (Average 2020–2024). The FHA limit for one unit is $541,287 depending on the county. Here is the minimum down payment each loan type asks at that price, every county’s limit, and the state’s assistance programs.

Minimum down payment Limits by county
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Typical home
$188,000
median value, Average 2020–2024
43% less than the U.S.
FHA limit
$541,287
one unit, by county
All of Arkansas uses the national floor ($541,287).
Conforming limit
$832,750
one unit, 2026 data
Above this amount, the loan is a “jumbo” loan.
Minimum FHA down payment
$6,580
3.5% of a $188,000 home
VA and USDA ask for no down payment if you qualify.

Source: American Community Survey (ACS) 5-year estimates Average 2020–2024 American Community Survey (ACS) 5-year estimates Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD) Source: Conforming loan limits (FHFA) Data from 2026 data Conforming loan limits (FHFA)

Down payment

How much each loan asks up front

For a $188,000 home, the typical value in Arkansas. The minimum down payment is each program’s rule. The monthly figure is an example of principal and interest over 30 years at the 7.18% average rate (November 5, 2026): no taxes, insurance or mortgage insurance.

Your price, rate and down payment will differ: run the calculator with your numbers. Closing costs are extra.

Minimum down payment and monthly payment for a $188,000 home in Arkansas

  1. FHA Program rule

    Minimum down3.5%

    In dollars$6,580

    Per month$1,229

    With a credit score of 580 or more. Carries mortgage insurance (MIP) up front and every month.

    HUD Handbook 4000.1 (Update 18), II.A.2.a.iv — Minimum Required Investment · In effect since September 14, 2016

  2. Conventional Program rule

    Minimum down3%

    In dollars$5,640

    Per month$1,235

    3% is the lowest standard option. With less than 20% down you pay private mortgage insurance (PMI) until you have more equity.

    Fannie Mae Selling Guide B5-6-01 — HomeReady Mortgage Loan and Borrower Eligibility · In effect since January 1, 2024

  3. VA Program rule

    Minimum down0%

    In dollars$0

    Per month$1,274

    For veterans, service members and some spouses. No down payment as long as the price is not above the appraisal; charges a one-time funding fee.

    VA: Purchase loan — benefits · In effect since January 1, 2020

  4. USDA Program rule

    Minimum down0%

    In dollars$0

    Per month$1,274

    Only homes in eligible rural areas and households within USDA’s income limit. Finances the full price.

    7 CFR §3555.103 — Maximum loan amount (Guaranteed Rural Housing Program) · In effect since December 9, 2013

  5. ITIN or other Example, not a rule

    Minimum down15%

    In dollars$28,200

    Per month$1,083

    ITIN loans follow no federal rule: each lender sets its own down payment and rate, and usually asks for more. 15% is an example.

Loan limits

FHA and conforming limit in every county

In 2026 data, every county in Arkansas uses the national FHA floor ($541,287) for one unit. The conforming limit is the most Fannie Mae and Freddie Mac will buy; above it, the loan is a “jumbo”.

One unit. For 2- to 4-unit homes, each county page has the full table. Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD)

Down payment help

Arkansas programs for buyers

1 verified program that put money toward the down payment or closing costs, or give a tax credit. With the source wording and the date we checked it.

Some help is a grant you never repay; other help is a second loan that is forgiven over the years or repaid when you sell. Each program’s tag says which kind it is.

See all programs

  • ADFA Down Payment Assistance Loan Program

    Verified November 5, 2026

    Arkansas state authority second mortgage of $1,000 to $15,000 for the down payment and closing costs, over 10 years and at the same rate as the ADFA first mortgage (Move-Up or StartSmart)

    • Repayable
    See details

What the state publishes

Arkansas rules that change the math

Exemptions that lower property tax and taxes paid when the deed is recorded, summarized from the official page each one cites.

Property tax in Arkansas

Exemptions and caps

  • Homestead property tax credit

    Arkansas has a homestead property tax credit for each assessment year. It reduces the real property taxes on each owner's homestead (main home) by $675. This amount applies to assessment years starting in 2026. It is set by state law: Act 174 of 2026 raised the credit, so another law can change it.

    Ark. Code Ann. §26-26-1118(a)(1)(A), as amended by Act 174 of 2026 (Fiscal Session) · Arkansas General Assembly (Act 174 of the 2026 Fiscal Session) · Verified October 24, 2026

  • Cap on taxable value increases: 5% a year on a homestead

    Amendment 79 limits how much the taxable value (the value used to figure the tax) can rise because of a county-wide reappraisal. On a homestead (main home), taxable value can rise only 5% a year until it reaches full assessed value. On other property (commercial, agricultural and vacant), the cap is 10% a year. The caps do not apply to new or newly discovered property or to substantial improvements, meaning work that adds 25% or more to the value.

    Ark. Const. amend. 79 · Arkansas Department of Finance and Administration, Assessment Coordination Division · Verified October 24, 2026

Your next steps

Where to go next in Arkansas

What you can do today, free and without giving personal information. Go in order: your numbers first, then the help.

  1. Run the numbers with your figures

    The Arkansas calculator already has the typical value, the average rate and the state’s property tax.

  2. Check whether you qualify for help

    Each program says what it gives, who qualifies and when we checked it.

  3. Talk to a counselor for free

    14 HUD-approved agencies help you prepare to buy; 8 say they serve in Spanish.

  4. Follow the steps to buy a home

    From the budget to the keys, in order.

Frequently asked questions

How much down payment do I need for a typical home in Arkansas?

For a $188,000 home (typical value, Average 2020–2024), the FHA minimum (3.5%) is $6,580 and the conventional minimum (3%) is $5,640. VA and USDA ask no down payment if you qualify. State programs can cover part of it.

Are there high-cost counties in Arkansas?

No. In 2026 data, every county in Arkansas uses the national FHA floor ($541,287) for one unit.

What is the conforming loan limit in Arkansas?

In 2026 data, the conforming limit for one unit is $832,750 in every county in Arkansas: the most Fannie Mae and Freddie Mac will buy. Above it, the loan is a “jumbo” and each lender sets its own terms.

What would the monthly payment be on a typical home in Arkansas?

With $188,000, the FHA minimum down payment ($6,580) and the 7.18% average rate (November 5, 2026), principal and interest over 30 years comes to about $1,229 a month. Tax, insurance and mortgage insurance are missing: the calculator adds them.

What down payment help is there in Arkansas?

We have verified 1 state program in Arkansas that put money toward the down payment or closing costs, or give a tax credit. Each shows the source wording, who qualifies and the date we checked it.