2024 FHA Loan Limits in Arkansas
Timothy Manni started his career as a writer, but for the better part of the last 15 years he has been an editor and content team leader in the mortgage and home buying space. For six years, he lead the Mortgage Content team at NerdWallet, and before that he was the managing editor at HSH.com. Currently, he’s utilizing his years of expertise to help websites like LendingTree, Yahoo Finance and MoneyGeek elevate the information they are sharing with consumers.
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 |
