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Mortgage Calculator /With Taxes and PMI /Arkansas

Arkansas Mortgage Calculator

Set to Arkansas’s own property tax rate of 0.52% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($43,200)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$1,258
Monthly payment
$1,101
Principal & interest
$94
Taxes
$63
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $172,800 Interest paid $223,675
20262056
Total of 360 payments$452,845
Principal$172,800
Interest$223,675
Taxes$33,690
Insurance$22,680
HOA fees$0
P&I 87.6% Taxes 7.4% Insurance 5.0%
15- vs 30-year term at 6.58%
15-year
$1,513/mo P&I
$99,519 total interest
30-year · current
$1,101/mo P&I
$223,675 total interest
The 15-year term saves $124,156 in interest. Which term is right for you?

What these numbers come from

Median home value
$215,600
Median tax bill
$1,113
Effective tax rate
0.52%
Rank of 51
40th highest

Arkansas taxes property at about 0.52% of value against 0.89% nationally. On a $216,000 home that is $67 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Arkansas home prices

20% down, 30-year fixed at 6.58%, with Arkansas property tax of 0.52% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$129,000 $103,200 $658 $56 $751
$172,000 $137,600 $877 $75 $1,002
$216,000 median $172,800 $1,101 $94 $1,258
$270,000 $216,000 $1,377 $117 $1,572
$323,000 $258,400 $1,647 $140 $1,881

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Arkansas taxes alone add $94 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $154 $948 $157 $172,646
Sep $155 $947 $157 $172,492
Oct $155 $946 $157 $172,336
Nov $156 $945 $157 $172,180
Dec $157 $944 $157 $172,023
2026 $777 $4,729 $783 $172,023
Jan $158 $943 $157 $171,864
Feb $159 $942 $157 $171,706
Mar $160 $942 $157 $171,546
Apr $161 $941 $157 $171,385
May $162 $940 $157 $171,223
Jun $162 $939 $157 $171,061

Refinancing in Arkansas

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Arkansas home loans in detail

Arkansas Mortgage Overview

The median home value of homes in Arkansas is just $270,000, making it a great place for first-time homebuyers. You don't need a large down payment and can own a home in the 'Natural State' surrounded by incredible wilderness areas and natural springs.

If you're looking to move to the 'Natural State' of Arizona, here are the top ways to get financing:

Arkansas conventional loans

First-time homebuyers with good credit can get the great rates and low costs of a conventional loan. With just a 660 credit score and debt ratio of around 40 percent or less, you can borrow up to 97 percent of the home's value. You'll pay Private Mortgage Insurance but can cancel it once you less than 80 percent of the home's value.

Arkansas FHA loans

If you don't qualify for a conventional loan, the FHA loan is a great option. You need just a 3.5 percent down payment but can qualify with a credit score as low as 580 or even a score of 500 with a 10 percent down payment. FHA loans have more flexible guidelines, making it even easier to buy your first home.

Arkansas VA loans

If you served or are serving in the military, the VA loan is a great way to buy a home with no down payment. Veterans need just a 620 credit score and adequate income to cover your commitments and have enough money left to cover your daily cost of living. VA loans have great rates and low closing costs.

Arkansas USDA loans

If you live in a rural area (or will move to one) and haven't owned a home before (or in the last 3 years), the USDA loan can be a good option. This program is for families with income lower than 115% of the income for the area, and who are buying a home for their primary residence. The USDA program doesn't require a down payment.

First-Time Homebuyer Programs in Arkansas

Arkansas Dream Down Payment

Initiative

The ADDI helps low income families by providing up to 10 percent of the sales price for the down payment. The funds are a second mortgage that's forgivable after five years.

ADFA Down Payment Assistance

Programs

The ADFA DPA provides $10,000 for a down payment and/or closing costs. This is a second mortgage with a low interest rate over a 10-year term.

ADFA Move-Up Loan

The ADFA Move-Up Loan is a conventional, FHA, VA, or USDA loan with a 30-year term and low interest rates making it easier for first-time homebuyers to buy their first home.

Arkansas mortgage FAQ

How much is property tax on a home in Arkansas?
Arkansas homeowners pay an effective property tax rate of about 0.52 percent of home value — the 40th highest of the 50 states and DC. On the state's median home value of $215,600 that works out to roughly $1,123 a year, or $94 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Arkansas home?
At $216,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,101 a month. Adding Arkansas property tax of roughly $94 a month and an estimated $63 of homeowner insurance brings the full payment to around $1,258.
What loan programs can homebuyers use in Arkansas?
Arkansas buyers can use conventional loans covering up to 97 percent of the home's value with a 660 credit score, FHA loans with 3.5 percent down and a 580 score or 10 percent down with a 500 score, VA loans with no down payment for veterans with a 620 score, and USDA loans with zero down for rural buyers earning under 115 percent of area income.
What first-time homebuyer assistance does Arkansas provide?
The Arkansas Dream Down Payment Initiative provides up to 10 percent of the sales price as a second mortgage that is forgiven after five years. The ADFA Down Payment Assistance program offers a low-interest second mortgage over a 10-year term for down payment and closing costs, and the ADFA Move-Up Loan is a 30-year conventional, FHA, VA, or USDA loan with low rates.
Is it possible to buy a home in Arkansas with zero down?
Yes. VA loans let Arkansas veterans buy with no down payment and a 620 credit score, while USDA loans offer zero down to buyers in rural areas whose income is below 115 percent of the area level. First-time buyers can also use the Arkansas Dream Down Payment Initiative, which covers up to 10 percent of the sales price toward the down payment.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.