How much down payment do I need to buy a house in Arkansas?

You can buy a home in Arkansas with as little as 0% down (VA/USDA), 3% down ($5,550 conventional), or 3.5% down ($6,475 FHA) on the median-priced home of $185,000.

What income do I need to buy a home in Arkansas?

To afford the median-priced home in Arkansas ($185,000) with a 30-year mortgage at 6.1%, you typically need a household income of approximately $45,381 per year (using the 28% rule). The median income in Arkansas is $52,123.

What is the FHA loan limit in Arkansas for 2026?

The FHA loan limit in Arkansas for 2026 is $472,030. This means first-time buyers using FHA loans can finance up to this amount with just 3.5% down payment.

First-Time Home Buyer Arkansas 2026

Q: What first-time home buyer programs are available in Arkansas?

Arkansas offers 2 major first-time buyer programs including ADFA Down Payment Assistance, ADFA Move-Up Program. These programs provide grants, forgivable loans, and below-market rates to help with down payment and closing costs.

Your complete guide to buying your first home in Arkansas. 2+ down payment assistance programs, FHA loans from 5.9%, and step-by-step guidance.

Median Price

$185,000

Min Down (FHA)

$6,475

DPA Programs

Best Rate

5.9%

Check My Arkansas Eligibility

What First-Time Buyer Programs Are Available in Arkansas?

Arkansas offers 2 major first-time home buyer assistance programs. These include ADFA Down Payment Assistance, ADFA Move-Up Program. Programs provide up to $15,000 in down payment assistance through grants, forgivable loans, and below-market interest rates.

How Much Do I Need to Buy in Arkansas?

You can buy a home in Arkansas with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$6,475), and conventional loans start at 3% ($$5,550) on the median price of $185,000.

Loan Type	Down Payment	$ Amount	Monthly P&I	Min Credit
VA Loan	0%	$0	$1,091	620
USDA Loan	0%	$0	$1,121	640
Conventional 3%	3%	$5,550	$1,087	620
FHA Loan	3.5%	$6,475	$1,059	580
Conventional 20%	20%	$37,000	$897	620

Arkansas Down Payment Assistance Programs

ADFA Down Payment Assistance

Second mortgage for down payment and closing costs

Up to $15,000deferred

ADFA Move-Up Program

Competitive rates for repeat buyers

Up to Rate reductionlow interest

5 Steps to Buy Your First Home in Arkansas

To buy your first home in Arkansas, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.

Check Your Credit & Finances

Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In Arkansas, you may need as little as $6,475 for an FHA down payment.

Get Pre-Approved

Compare rates from at least 3 lenders. Current Arkansas rates: 6.1% (30-year), 5.9% (FHA). Pre-approval shows sellers you're serious and locks your rate.

Apply for Arkansas DPA Programs

Arkansas has 2+ DPA programs. The ADFA Down Payment Assistance offers up to $15,000. Apply early—funding can be limited.

House Hunt & Make an Offer

Popular cities in Arkansas: Little Rock, Fort Smith, Fayetteville, Springdale, Jonesboro. Median price is $185,000 (+7.2% YoY). Work with a local real estate agent who knows the market.

Close on Your New Home

Closing costs in Arkansas typically run 2-5% of the purchase price ($5,550-$9,250). Some DPA programs also cover closing costs.

Start Your Arkansas Home Buying Journey

Get pre-approved in minutes and see what you qualify for.

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Arkansas First-Time Buyer FAQ

What first-time home buyer programs are available in Arkansas?

Arkansas offers 2 major programs: ADFA Down Payment Assistance, ADFA Move-Up Program. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.