Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Arkansas homebuyers.
Pre-filled with Arkansas medians. Adjust for your property.
Estimated closing costs based on Arkansas tax rates and fees.
The median home price in Arkansas is $195,000, with property taxes averaging 0.62% annually. Arkansas's low property tax rate is a major advantage for buyers, keeping monthly costs well below what you'd pay in high-tax states.
Closing costs in Arkansas average $3K (1.5%% of purchase price). The state charges a 0.33% transfer tax on real estate transactions, which modestly adds to closing costs. Homeowners insurance runs approximately $2,500 per year. This is within the normal range nationally.
Arkansas offers the ADFA Down Payment Assistance for first-time buyers: Up to $15,000 DPA. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Arkansas offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with state assistance programs.