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2021 FHA Loan Limits in Arkansas

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Relatively affordable home prices in Arkansas make it a friendly state for financing a home with an FHA loan. In fact, the entire state qualifies as a low-cost area, so the FHA loan limit of $356,362 for a single-family home is in line with most locations across the U.S.

Dreaming about buying a house in Arkansas? This may be the perfect time to make the leap. And thanks to the Federal Housing Administration (FHA), some Arkansans can qualify for federally backed loans to help get them into a new house.

Arkansas FHA loan limits by county

FHA Loan Limits in Arkansas
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Arkansas $356,362 $456,275 $551,500 $685,400 $79,000
Baxter $356,362 $456,275 $551,500 $685,400 $120,000
Benton $356,362 $456,275 $551,500 $685,400 $215,000
Boone $356,362 $456,275 $551,500 $685,400 $117,000
Bradley $356,362 $456,275 $551,500 $685,400 $56,000
Carroll $356,362 $456,275 $551,500 $685,400 $141,000
Clay $356,362 $456,275 $551,500 $685,400 $82,000
Cleburne $356,362 $456,275 $551,500 $685,400 $134,000
Cleveland $356,362 $456,275 $551,500 $685,400 $83,000
Crittenden $356,362 $456,275 $551,500 $685,400 $238,000
Cross $356,362 $456,275 $551,500 $685,400 $88,000
Dallas $356,362 $456,275 $551,500 $685,400 $36,000
Desha $356,362 $456,275 $551,500 $685,400 $60,000
Drew $356,362 $456,275 $551,500 $685,400 $110,000
Faulkner $356,362 $456,275 $551,500 $685,400 $164,000
Franklin $356,362 $456,275 $551,500 $685,400 $175,000
Fulton $356,362 $456,275 $551,500 $685,400 $105,000
Garland $356,362 $456,275 $551,500 $685,400 $140,000
Grant $356,362 $456,275 $551,500 $685,400 $164,000
Hot Spring $356,362 $456,275 $551,500 $685,400 $103,000
Independence $356,362 $456,275 $551,500 $685,400 $95,000
Izard $356,362 $456,275 $551,500 $685,400 $92,000
Jackson $356,362 $456,275 $551,500 $685,400 $25,000
Jefferson $356,362 $456,275 $551,500 $685,400 $83,000
Johnson $356,362 $456,275 $551,500 $685,400 $121,000
Lafayette $356,362 $456,275 $551,500 $685,400 $60,000
Lawrence $356,362 $456,275 $551,500 $685,400 $54,000
Lee $356,362 $456,275 $551,500 $685,400 $122,000
Little River $356,362 $456,275 $551,500 $685,400 $150,000
Logan $356,362 $456,275 $551,500 $685,400 $102,000
Lonoke $356,362 $456,275 $551,500 $685,400 $164,000
Madison $356,362 $456,275 $551,500 $685,400 $215,000
Marion $356,362 $456,275 $551,500 $685,400 $134,000
Mississippi $356,362 $456,275 $551,500 $685,400 $93,000
Monroe $356,362 $456,275 $551,500 $685,400 $73,000
Montgomery $356,362 $456,275 $551,500 $685,400 $120,000
Nevada $356,362 $456,275 $551,500 $685,400 $73,000
Ouachita $356,362 $456,275 $551,500 $685,400 $72,000
Phillips $356,362 $456,275 $551,500 $685,400 $38,000
Pike $356,362 $456,275 $551,500 $685,400 $149,000
Polk $356,362 $456,275 $551,500 $685,400 $85,000
Prairie $356,362 $456,275 $551,500 $685,400 $77,000
Scott $356,362 $456,275 $551,500 $685,400 $60,000
Searcy $356,362 $456,275 $551,500 $685,400 $65,000
Sevier $356,362 $456,275 $551,500 $685,400 $91,000
Sharp $356,362 $456,275 $551,500 $685,400 $95,000
Stone $356,362 $456,275 $551,500 $685,400 $71,000
Union $356,362 $456,275 $551,500 $685,400 $85,000
Washington $356,362 $456,275 $551,500 $685,400 $215,000
Woodruff $356,362 $456,275 $551,500 $685,400 $75,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in Arkansas?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

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