Arkansas mortgage payment calculator

All-in cost first, always. Estimate only — not a loan quote or pre-approval.

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Rate via FRED

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Arkansas at a glance

Median home price
$284,111
Typical closing costs
2%–4% of price
Transfer tax
0.33% of sale price, customarily paid by seller
Closing custom
escrow
Homestead exemption
Arkansas provides a homestead property tax credit (Amendment 79 to the Arkansas Constitution) that directly reduces the ad-valorem property tax bill on an owner-occupied primary residence, rather than exempting a dollar amount of assessed value. The credit was $375/year for many years, then raised to $425 (2023 tax bills), then $500 (2024-2025 tax bills); Arkansas's General Assembly authorized a further increase to $600 beginning with 2026 tax bills, though some county assessor pages still show the $500/$425 figures pending full rollout. Amendment 79 also caps the annual increase in a homestead's taxable assessed value at 5%/year (10%/year for non-homestead property) following a county-wide reappraisal, until the property reaches full assessed value. Applied for through the county assessor's office; not automatic.

First-time buyer / down payment assistance programs

  • ADFA StartSmart First-Time Homebuyer Program

    Arkansas Development Finance Authority's primary 30-year fixed-rate first mortgage, funded through tax-exempt mortgage revenue bonds, offering a below-market interest rate for first-time homebuyers (and repeat buyers in targeted areas) statewide; can be paired with ADFA Down Payment Assistance.

  • ADFA Down Payment Assistance (DPA) Program

    Second-lien down payment and closing cost assistance of up to $15,000, available only when paired with an ADFA StartSmart or ADFA Move-Up first mortgage.

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Affordability calculator

Income, savings, and debts in — max home price and qualification signal out.

PMI removal calculator

When your PMI is scheduled to end, by law and by request.

Mortgage points calculator

Should you buy down your rate? Break-even and lifetime cost comparison.

Related reading

Closing Costs in Arkansas: What You'll Actually Pay

9 min read

Arkansas taxes a deed transfer at $3.30 per $1,000 — about $938 on the median home — and by custom the seller pays it. Here's the rest of the bill.

What Is PMI, and How Do You Get Rid of It?

15 min read

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

$4.99

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

The First-Time Buyer's Playbook: 12 Months to Closing Day

$4.99

A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.