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First-Time Buyer loans in Arkansas

Quick answer

First-time buyers in Arkansas can use FHA (3.5% down), conventional 97 (3% down), VA or USDA loans, plus programs from Arkansas Development Finance Authority (ADFA). On a $175,300 home, 3% down is about $5,259.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

First-Time Buyer loan snapshot for Arkansas

ItemEstimate
Minimum down payment0%–3.5%
Minimum credit score580–620
Typical AR home value$175,300
3.5% down on typical home$6,136
20% down on typical home$35,060
Avg. effective property tax0.57%/yr (~$84/mo)
Income for typical home (31% rule)$53,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Arkansas programs pair with First-Time Buyer loans?

  • ADFA Move-Up: A fixed-rate first mortgage for first-time and repeat buyers who meet income limits.
  • ADFA Down Payment Assistance: A deferred second mortgage that can cover part of the down payment and closing costs.

Details and current limits: Arkansas Development Finance Authority (ADFA).

Compare first-time buyer loan options

LoanMin. downMin. creditMortgage insurance
FHA3.5%5801.75% upfront + annual MIP
Conventional 97 / HomeReady / Home Possible3%620PMI, removable
VA0%Lender-set (~580–620)None (funding fee)
USDA0%~6401% upfront + 0.35% annual

Who counts as a first-time home buyer?

Under HUD and most agency definitions, you're a first-time buyer if you haven't owned a principal residence in the last three years. Single parents and displaced homemakers who only owned with a former spouse may also qualify.

First-Time Buyer loans in Arkansas cities

First-Time Buyer in Little RockFirst-Time Buyer in FayettevilleFirst-Time Buyer in Fort SmithFirst-Time Buyer in SpringdaleFirst-Time Buyer in JonesboroFirst-Time Buyer in RogersFirst-Time Buyer in ConwayFirst-Time Buyer in North Little RockFirst-Time Buyer in BentonvilleFirst-Time Buyer in Pine BluffFirst-Time Buyer in Hot SpringsFirst-Time Buyer in BentonFirst-Time Buyer in SherwoodFirst-Time Buyer in Bella VistaFirst-Time Buyer in ParagouldFirst-Time Buyer in TexarkanaFirst-Time Buyer in JacksonvilleFirst-Time Buyer in RussellvilleFirst-Time Buyer in CabotFirst-Time Buyer in West MemphisFirst-Time Buyer in Van BurenFirst-Time Buyer in SearcyFirst-Time Buyer in BryantFirst-Time Buyer in CentertonFirst-Time Buyer in MaumelleFirst-Time Buyer in Siloam SpringsFirst-Time Buyer in El DoradoFirst-Time Buyer in Hot Springs VillageFirst-Time Buyer in MarionFirst-Time Buyer in HarrisonFirst-Time Buyer in BlythevilleFirst-Time Buyer in Mountain HomeFirst-Time Buyer in Forrest CityFirst-Time Buyer in BatesvilleFirst-Time Buyer in MagnoliaFirst-Time Buyer in MalvernFirst-Time Buyer in LowellFirst-Time Buyer in CamdenFirst-Time Buyer in Arkadelphia

Frequently asked questions

Yes. First-Time Buyer loans are available statewide in Arkansas through approved lenders, subject to county loan limits where they apply.

Often yes. Arkansas Development Finance Authority (ADFA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Arkansas.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.