Arkansas Mortgage Calculator

Mortgage and refinance loan payment calculator. Popular areas include Little Rock, Fort Smith, Fayetteville and Springdale Arkansas.

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Our Arkansas mortgage calculator enables you to estimate your monthly mortgage payment, including the following:

  • Principal and interest
  • Taxes
  • Insurance
  • Private Mortgage Insurance (PMI)

Your monthly payment changes when updating the home price, down payment, interest rate, and loan term.

Housing affordability continues to fluctuate across Arkansas. The housing trends vary in the Land of Opportunity, with larger communities exhibiting higher home prices than smaller, more rural areas. Even within Little Rock, Fort Smith, Fayetteville, the market varies among neighborhoods. Each area will have a slightly different trend such as Pulaski County, Benton County and Washington County.

Amortization Calculator
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We've included the conforming loan amounts and the estimated property tax rates for each county. This is important because mortgage interest rates are significantly different for home loans above the amounts listed. Please check with your loan officer, bank, lender to verify the conforming loan amounts in your county.

County

Property tax rate

Conforming limit

Arkansas County

0.63%

$548,250

Ashley County

0.59%

$548,250

Baxter County

0.54%

$548,250

Benton County

0.75%

$548,250

Boone County

0.60%

$548,250

Bradley County

0.66%

$548,250

Calhoun County

0.58%

$548,250

Carroll County

0.73%

$548,250

Chicot County

0.67%

$548,250

Clark County

0.60%

$548,250

Clay County

0.63%

$548,250

Cleburne County

0.51%

$548,250

Cleveland County

0.58%

$548,250

Columbia County

0.52%

$548,250

Conway County

0.54%

$548,250

Craighead County

0.57%

$548,250

Crawford County

0.61%

$548,250

Crittenden County

0.63%

$548,250

Cross County

0.61%

$548,250

Dallas County

0.56%

$548,250

Desha County

0.71%

$548,250

Drew County

0.56%

$548,250

Faulkner County

0.64%

$548,250

Franklin County

0.56%

$548,250

Fulton County

0.49%

$548,250

Garland County

0.55%

$548,250

Grant County

0.48%

$548,250

Greene County

0.60%

$548,250

Hempstead County

0.52%

$548,250

Hot Spring County

0.59%

$548,250

Howard County

0.53%

$548,250

Independence County

0.64%

$548,250

Izard County

0.64%

$548,250

Jackson County

0.53%

$548,250

Jefferson County

0.64%

$548,250

Johnson County

0.55%

$548,250

Lafayette County

0.62%

$548,250

Lawrence County

0.51%

$548,250

Lee County

0.50%

$548,250

Lincoln County

0.55%

$548,250

Little River County

0.51%

$548,250

Logan County

0.57%

$548,250

Lonoke County

0.68%

$548,250

Madison County

0.47%

$548,250

Marion County

0.54%

$548,250

Miller County

0.66%

$548,250

Mississippi County

0.57%

$548,250

Monroe County

0.60%

$548,250

Montgomery County

0.44%

$548,250

Nevada County

0.55%

$548,250

Newton County

0.48%

$548,250

Ouachita County

0.61%

$548,250

Perry County

0.58%

$548,250

Phillips County

0.55%

$548,250

Pike County

0.55%

$548,250

Poinsett County

0.53%

$548,250

Polk County

0.50%

$548,250

Pope County

0.61%

$548,250

Prairie County

0.67%

$548,250

Pulaski County

0.82%

$548,250

Randolph County

0.44%

$548,250

St. Francis County

0.58%

$548,250

Saline County

0.72%

$548,250

Scott County

0.52%

$548,250

Searcy County

0.42%

$548,250

Sebastian County

0.67%

$548,250

Sevier County

0.56%

$548,250

Sharp County

0.52%

$548,250

Stone County

0.36%

$548,250

Union County

0.67%

$548,250

Van Buren County

0.55%

$548,250

Washington County

0.71%

$548,250

White County

0.50%

$548,250

Woodruff County

0.59%

$548,250

Yell County

0.66%

$548,250

County

Tax Rate

Limit

Arkansas County

0.63%

$548,250

Ashley County

0.59%

$548,250

Baxter County

0.54%

$548,250

Benton County

0.75%

$548,250

Boone County

0.60%

$548,250

Bradley County

0.66%

$548,250

Calhoun County

0.58%

$548,250

Carroll County

0.73%

$548,250

Chicot County

0.67%

$548,250

Clark County

0.60%

$548,250

Clay County

0.63%

$548,250

Cleburne County

0.51%

$548,250

Cleveland County

0.58%

$548,250

Columbia County

0.52%

$548,250

Conway County

0.54%

$548,250

Craighead County

0.57%

$548,250

Crawford County

0.61%

$548,250

Crittenden County

0.63%

$548,250

Cross County

0.61%

$548,250

Dallas County

0.56%

$548,250

Desha County

0.71%

$548,250

Drew County

0.56%

$548,250

Faulkner County

0.64%

$548,250

Franklin County

0.56%

$548,250

Fulton County

0.49%

$548,250

Garland County

0.55%

$548,250

Grant County

0.48%

$548,250

Greene County

0.60%

$548,250

Hempstead County

0.52%

$548,250

Hot Spring County

0.59%

$548,250

Howard County

0.53%

$548,250

Independence County

0.64%

$548,250

Izard County

0.64%

$548,250

Jackson County

0.53%

$548,250

Jefferson County

0.64%

$548,250

Johnson County

0.55%

$548,250

Lafayette County

0.62%

$548,250

Lawrence County

0.51%

$548,250

Lee County

0.50%

$548,250

Lincoln County

0.55%

$548,250

Little River County

0.51%

$548,250

Logan County

0.57%

$548,250

Lonoke County

0.68%

$548,250

Madison County

0.47%

$548,250

Marion County

0.54%

$548,250

Miller County

0.66%

$548,250

Mississippi County

0.57%

$548,250

Monroe County

0.60%

$548,250

Montgomery County

0.44%

$548,250

Nevada County

0.55%

$548,250

Newton County

0.48%

$548,250

Ouachita County

0.61%

$548,250

Perry County

0.58%

$548,250

Phillips County

0.55%

$548,250

Pike County

0.55%

$548,250

Poinsett County

0.53%

$548,250

Polk County

0.50%

$548,250

Pope County

0.61%

$548,250

Prairie County

0.67%

$548,250

Pulaski County

0.82%

$548,250

Randolph County

0.44%

$548,250

St. Francis County

0.58%

$548,250

Saline County

0.72%

$548,250

Scott County

0.52%

$548,250

Searcy County

0.42%

$548,250

Sebastian County

0.67%

$548,250

Sevier County

0.56%

$548,250

Sharp County

0.52%

$548,250

Stone County

0.36%

$548,250

Union County

0.67%

$548,250

Van Buren County

0.55%

$548,250

Washington County

0.71%

$548,250

White County

0.50%

$548,250

Woodruff County

0.59%

$548,250

Yell County

0.66%

$548,250

Start the mortgage process today in Arkansas

Start the process for either a purchase or refinance mortgage today and have a licensed loan officer in Arkansas contact you for a custom quote.

In Arkansas how do banks and lenders calculate what mortgage payment I can afford?

In Arkansas the general rule of thumb for determining the mortgage amount a borrower can manage is 2 – 2.5 times your monthly GROSS income. For example, someone earning $100k annual can afford a $200k – $250k mortgage. However, this is only a general guideline and there is more to the process. In addition to your gross income, lenders take into consideration two ratios: the “front-end ratio” and the “back-end ratio.”  The front-end ratio is your mortgage-to-income ratio, representing the (monthly) amount of your income which you can dedicate to paying your mortgage. The ideal ratio is under 30%–although some lenders will allow you to exceed 40%. The back-end ratio is your debt-to-income (DTI) ratio, or the amount of gross income you must cover your debts (loans for cars, education, and credit cards, for example).  Most lenders want to see that number no more than 36% (36% of your income goes to paying debts).  Although there are other factors in determining your overall financial “health,” these best represent your ability to pay the mortgage.

In Arkansas what are other costs that can increase my mortgage payment?

In Arkansas the mortgage payment includes multiple factors, each which can increase (or decrease) the actual mortgage payment. Other than then actual cost of the home, you need to include the following variables:

  • Down Payment (the amount of money you pay up front, not borrowed from the lender)
  • Interest Expenses (the interest rate, the length of the loan and type—whether a fixed or adjustable interest rate)
  • Property Taxes (these vary with the community you are moving into)
  • Insurance (homeowner’s insurance rates will depend on your coverage and can fluctuate)
  • PMI (some lenders require insurance to protect them should you default on the loan)
  • HOA Fees (Some residential communities (especially condominiums and other PUDs) have maintenance fees for shared facilities and amenities offered in the development

In Arkansas how do I calculate my mortgage payment?

In Arkansas the mortgage payment includes multiple factors, each which can increase (or decrease) the actual mortgage payment. Other than then actual cost of the home, you need to include the following variables:

  • Down Payment (the amount of money you pay up front, not borrowed from the lender)
  • Interest Expenses (the interest rate, the length of the loan and type—whether a fixed or adjustable interest rate)
  • Property Taxes (these vary with the community you are moving into)
  • Insurance (homeowner’s insurance rates will depend on your coverage and can fluctuate)
  • PMI (some lenders require insurance to protect them should you default on the loan)
  • HOA Fees (Some residential communities (especially condominiums and other PUDs) have maintenance fees for shared facilities and amenities offered in the development

Lock your mortgage rate today in Arkansas

With a wide variety of financing options, our team of experts can help you find and lock in the best current rate for purchasing your home or refinancing your existing mortgage. Contact us to get started with a Arkansas mortgage loan today!

Whether you are a math nerd who aspires to do the math by hand or simply want to understand how Arkansas mortgage payments are calculated, the formula looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Key:

  • M = monthly mortgage payment
  • P = principal amount
  • I = monthly interest rate (usually listed as an annual percentage rate)
  • N = number of payments over the life of the loan (360 payments for 30 years, etc)

In Arkansas if you are obtaining a fixed mortgage, whether it be 30, 15, or even 5 years, you are probably curious to see how much you are paying in interest.  One thing to remember is that in the U.S., interest is paid in arrears. So, your monthly payment includes interest for the 30 days BEFORE your due date. Since fixed mortgages are fully amortized installment loans, the amortization schedule shows how the split between principal and interest changes over time. In the early years of the mortgage term, most of your payment will go towards interest. However, as you pay down the principal, less interest will accrue and more of your payment is applied to the principal.

In Arkansas the longer you finance your home for, the lower your monthly payments will be. Conversely, a shorter (or adjustable rate) term usually equates to a lower interest rate. Its important to run the numbers on multiple scenarios to find out what works best for you.

If you already have a mortgage and are looking for an opportunity to lower your current monthly payments, consider the following:

  • Refinance at a lower rate
  • Refinance to a longer term
  • Eliminate mortgage insurance
  • Apply for mortgage forbearance or loan modification (in case of financial hardship)

In Arkansas an Amortization Schedule calculator provides a schedule of how much is paid for each portion of the mortgage payment over time. A mortgage calculator allows you to plug in the mortgage amount, term (number of payments) and the APR (interest rate per year) and determine the total you will pay in principal and interest over the life of the loan.

Get started with a purchase or refinance mortgage loan today!

Get started with a purchase or refinance mortgage loan today!

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