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Arkansas FHA Home Loan

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2022 Arkansas FHA Loan Requirements

Arkansas FHA Loan | Requirements | 2022 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in Arkansas.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

Arkansas FHA Loan Requirements

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2022 FHA loan limits for all counties in Arkansas below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in Arkansas.  To have an FHA lender contact you, request a free consultation.

2022 Arkansas FHA Loan Limits

Below are the 2022 FHA loan limits for every county in Arkansas:

County Single Family 2 Family 3 Family 4 Family
ARKANSAS $420,680 $538,650 $651,050 $809,150
ASHLEY $420,680 $538,650 $651,050 $809,150
BAXTER $420,680 $538,650 $651,050 $809,150
BENTON $420,680 $538,650 $651,050 $809,150
BOONE $420,680 $538,650 $651,050 $809,150
BRADLEY $420,680 $538,650 $651,050 $809,150
CALHOUN $420,680 $538,650 $651,050 $809,150
CARROLL $420,680 $538,650 $651,050 $809,150
CHICOT $420,680 $538,650 $651,050 $809,150
CLARK $420,680 $538,650 $651,050 $809,150
CLAY $420,680 $538,650 $651,050 $809,150
CLEBURNE $420,680 $538,650 $651,050 $809,150
CLEVELAND $420,680 $538,650 $651,050 $809,150
COLUMBIA $420,680 $538,650 $651,050 $809,150
CONWAY $420,680 $538,650 $651,050 $809,150
CRAIGHEAD $420,680 $538,650 $651,050 $809,150
CRAWFORD $420,680 $538,650 $651,050 $809,150
CRITTENDEN $420,680 $538,650 $651,050 $809,150
CROSS $420,680 $538,650 $651,050 $809,150
DALLAS $420,680 $538,650 $651,050 $809,150
DESHA $420,680 $538,650 $651,050 $809,150
DREW $420,680 $538,650 $651,050 $809,150
FAULKNER $420,680 $538,650 $651,050 $809,150
FRANKLIN $420,680 $538,650 $651,050 $809,150
FULTON $420,680 $538,650 $651,050 $809,150
GARLAND $420,680 $538,650 $651,050 $809,150
GRANT $420,680 $538,650 $651,050 $809,150
GREENE $420,680 $538,650 $651,050 $809,150
HEMPSTEAD $420,680 $538,650 $651,050 $809,150
HOT SPRING $420,680 $538,650 $651,050 $809,150
HOWARD $420,680 $538,650 $651,050 $809,150
INDEPENDENCE $420,680 $538,650 $651,050 $809,150
IZARD $420,680 $538,650 $651,050 $809,150
JACKSON $420,680 $538,650 $651,050 $809,150
JEFFERSON $420,680 $538,650 $651,050 $809,150
JOHNSON $420,680 $538,650 $651,050 $809,150
LAFAYETTE $420,680 $538,650 $651,050 $809,150
LAWRENCE $420,680 $538,650 $651,050 $809,150
LEE $420,680 $538,650 $651,050 $809,150
LINCOLN $420,680 $538,650 $651,050 $809,150
LITTLE RIVER $420,680 $538,650 $651,050 $809,150
LOGAN $420,680 $538,650 $651,050 $809,150
LONOKE $420,680 $538,650 $651,050 $809,150
MADISON $420,680 $538,650 $651,050 $809,150
MARION $420,680 $538,650 $651,050 $809,150
MILLER $420,680 $538,650 $651,050 $809,150
MISSISSIPPI $420,680 $538,650 $651,050 $809,150
MONROE $420,680 $538,650 $651,050 $809,150
MONTGOMERY $420,680 $538,650 $651,050 $809,150
NEVADA $420,680 $538,650 $651,050 $809,150
NEWTON $420,680 $538,650 $651,050 $809,150
OUACHITA $420,680 $538,650 $651,050 $809,150
PERRY $420,680 $538,650 $651,050 $809,150
PHILLIPS $420,680 $538,650 $651,050 $809,150
PIKE $420,680 $538,650 $651,050 $809,150
POINSETT $420,680 $538,650 $651,050 $809,150
POLK $420,680 $538,650 $651,050 $809,150
POPE $420,680 $538,650 $651,050 $809,150
PRAIRIE $420,680 $538,650 $651,050 $809,150
PULASKI $420,680 $538,650 $651,050 $809,150
RANDOLPH $420,680 $538,650 $651,050 $809,150
ST. FRANCIS $420,680 $538,650 $651,050 $809,150
SALINE $420,680 $538,650 $651,050 $809,150
SCOTT $420,680 $538,650 $651,050 $809,150
SEARCY $420,680 $538,650 $651,050 $809,150
SEBASTIAN $420,680 $538,650 $651,050 $809,150
SEVIER $420,680 $538,650 $651,050 $809,150
SHARP $420,680 $538,650 $651,050 $809,150
STONE $420,680 $538,650 $651,050 $809,150
UNION $420,680 $538,650 $651,050 $809,150
VAN BUREN $420,680 $538,650 $651,050 $809,150
WASHINGTON $420,680 $538,650 $651,050 $809,150
WHITE $420,680 $538,650 $651,050 $809,150
WOODRUFF $420,680 $538,650 $651,050 $809,150
YELL $420,680 $538,650 $651,050 $809,150

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