2024 FHA Loan Limits in Arkansas
FHA loans are backed by the Federal Housing Administration (FHA) with specific loan limits on home loans. The 2024 FHA loan limit for single-family homes in Arkansas is $498,257. Homebuyers can qualify for an FHA loan with a low credit score and small down payment. However, there are stricter appraisal standards and mortgage insurance to take into account, among other requirements.
Arkansas FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ARKANSAS | $498,257 | $637,950 | $771,125 | $958,350 | $89,000 |
| ASHLEY | $498,257 | $637,950 | $771,125 | $958,350 | $60,000 |
| BAXTER | $498,257 | $637,950 | $771,125 | $958,350 | $166,000 |
| BENTON | $498,257 | $637,950 | $771,125 | $958,350 | $336,000 |
| BOONE | $498,257 | $637,950 | $771,125 | $958,350 | $162,000 |
| BRADLEY | $498,257 | $637,950 | $771,125 | $958,350 | $55,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $60,000 |
| CARROLL | $498,257 | $637,950 | $771,125 | $958,350 | $160,000 |
| CHICOT | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| CLARK | $498,257 | $637,950 | $771,125 | $958,350 | $219,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $106,000 |
| CLEBURNE | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| CLEVELAND | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| COLUMBIA | $498,257 | $637,950 | $771,125 | $958,350 | $149,000 |
| CONWAY | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| CRAIGHEAD | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| CRAWFORD | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| CRITTENDEN | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| CROSS | $498,257 | $637,950 | $771,125 | $958,350 | $107,000 |
| DALLAS | $498,257 | $637,950 | $771,125 | $958,350 | $56,000 |
| DESHA | $498,257 | $637,950 | $771,125 | $958,350 | $60,000 |
| DREW | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| FAULKNER | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| FULTON | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
| GARLAND | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| GRANT | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| GREENE | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| HEMPSTEAD | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| HOT SPRING | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| HOWARD | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| INDEPENDENCE | $498,257 | $637,950 | $771,125 | $958,350 | $115,000 |
| IZARD | $498,257 | $637,950 | $771,125 | $958,350 | $106,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $53,000 |
| JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| JOHNSON | $498,257 | $637,950 | $771,125 | $958,350 | $96,000 |
| LAFAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $63,000 |
| LAWRENCE | $498,257 | $637,950 | $771,125 | $958,350 | $65,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| LINCOLN | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| LITTLE RIVER | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| LOGAN | $498,257 | $637,950 | $771,125 | $958,350 | $77,000 |
| LONOKE | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $336,000 |
| MARION | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| MILLER | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| MISSISSIPPI | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| MONROE | $498,257 | $637,950 | $771,125 | $958,350 | $48,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $163,000 |
| NEVADA | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| NEWTON | $498,257 | $637,950 | $771,125 | $958,350 | $162,000 |
| OUACHITA | $498,257 | $637,950 | $771,125 | $958,350 | $60,000 |
| PERRY | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| PHILLIPS | $498,257 | $637,950 | $771,125 | $958,350 | $45,000 |
| PIKE | $498,257 | $637,950 | $771,125 | $958,350 | $90,000 |
| POINSETT | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| POLK | $498,257 | $637,950 | $771,125 | $958,350 | $106,000 |
| POPE | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| PRAIRIE | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| PULASKI | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| RANDOLPH | $498,257 | $637,950 | $771,125 | $958,350 | $90,000 |
| SALINE | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| SCOTT | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
| SEARCY | $498,257 | $637,950 | $771,125 | $958,350 | $92,000 |
| SEBASTIAN | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| SEVIER | $498,257 | $637,950 | $771,125 | $958,350 | $82,000 |
| SHARP | $498,257 | $637,950 | $771,125 | $958,350 | $115,000 |
| ST. FRANCIS | $498,257 | $637,950 | $771,125 | $958,350 | $53,000 |
| STONE | $498,257 | $637,950 | $771,125 | $958,350 | $170,000 |
| UNION | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| VAN BUREN | $498,257 | $637,950 | $771,125 | $958,350 | $101,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $336,000 |
| WHITE | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| WOODRUFF | $498,257 | $637,950 | $771,125 | $958,350 | $41,000 |
| YELL | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
How are FHA loan limits determined?
Each year, FHA loan limits are set by the National Housing Act giving homebuyers a maximum amount they can borrow. These limits are a certain percentage of the t conforming loan limits for conventional loans set by the Federal Housing Finance Agency (FHFA). The conforming loan limit for 2024 is $766,550.
The “floor” is considered the lowest FHA loan limit that can be borrowed and is 65% of $766,550, and the “ceiling” is the highest limit at 150% of the conforming loan limit.
Single-family homes in most counties across the U.S. have a loan limit of $498,257. However, these limits max out at $1,149,825 in more expensive metro areas.
How to qualify for an FHA loan in Arkansas
If you’re a homebuyer in Arkansas, you may be interested in applying for an FHA loan. Keep in mind that to qualify for FHA loans you must meet the following minimum requirements:
→ Credit score. While you could be approved with a credit score as low as 500, you need at least a 580 credit score to qualify for the best terms.
→ Down payment. Your minimum down payment requirement will be determined by your credit score. If you have at least a 580 score, you can make a 3.5% down payment. However, you’ll need to put 10% down for credit scores between 579 to 500.
→ Income history. FHA loan lenders don’t usually require a minimum income to qualify, but you will need to provide employment and income history for the last two years.
→ Debt-to-income (DTI) ratio. Your DTI ratio will be considered by lenders to see how much debt you owe compared to your pre-taxed income.
→ Primary residence. FHA loans can only be used for a primary residence. These properties can’t be used as vacation homes, rentals, or anything business-related.
→ Home appraisal. FHA loans have higher standards when it comes to appraisals and must pass all FHA home inspection requirements.
→ Mortgage insurance. You’ll need two types of FHA mortgage insurance: an upfront cost and an annual premium added to your monthly payments.
Buying a multifamily property with an FHA loan
The FHA program also allows you to buy a multifamily home of two to four units with just 3.5% down. Similar to a single-family home, these multifamily properties come with specific requirements to qualify, including:
→ A credit score of 580 for a 3.5% down payment
→ Proof of income
→ Acceptable debt-to-income ratio
→ Homebuyers must live in the home for at least one year
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in Arkansas
Lender | LendingTree rating | Min. FHA credit score | |
|---|---|---|---|
 | 580 | ||
 | Not disclosed | ||
 | 580 | ||
 | 580 | ||
 | 580 |
