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Arkansas mortgage calculator

The median home in Arkansas runs about $200,000. With 20% down that's a loan near $160,000 — the calculator is pre-filled with that figure. Arkansas keeps property taxes low and home prices among the most affordable in the nation, though hail and severe-storm exposure makes homeowners insurance noticeably pricier than the low prices would suggest.

$1,038.82 / month

Total interest
$213,976
Total paid
$373,976
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$40k$80k$120k$160k0612182430Year

How it works

A full Arkansas payment is more than principal and interest. At the state's 0.62% effective property tax rate, a $200,000 home owes about $1,240 a year in tax, and homeowners insurance averages roughly $2,400 a year here. Together those add about $303 to the monthly payment before any HOA dues or PMI.

Arkansas's median household income is about $56,000, or $4,667 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,307 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Arkansas sell in about 55 days on average.

Frequently asked questions

What is a typical mortgage payment in Arkansas?
On the state's roughly $200,000 median home with 20% down, the loan is about $160,000. Principal and interest depend on your rate; on top of that, Arkansas's 0.62% effective property tax rate and about $2,400 a year in homeowners insurance add roughly $303 per month to the payment.
How much are property taxes on a home in Arkansas?
Arkansas's effective property tax rate averages about 0.62% of market value — roughly $1,240 a year on the $200,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Arkansas?
The average Arkansas homeowners policy runs about $2,400 a year. Arkansas keeps property taxes low and home prices among the most affordable in the nation, though hail and severe-storm exposure makes homeowners insurance noticeably pricier than the low prices would suggest.
Can I afford a home in Arkansas on the median income?
Arkansas's median household income is about $56,000 a year, or $4,667 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,307 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Arkansas?
A for-sale home in Arkansas spends about 55 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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