How to Buy a House in Arkansas
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$219,825
Closing Costs
$11,665
5.31% of price
Property Tax Rate
0.53%
$878/yr median
Days on Market
52
Median
FHA Loan Limit
$472,030
Attorney Required
No
Foreclosure Type
Non-Judicial
Transfer Tax
0.33%
$3.30 per $1,000
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Key Facts About Buying in Arkansas
- ✓One of the most affordable states to buy a home
- ✓Judicial foreclosure state - court supervised process
- ✓Generous homestead exemption
- ✓Low property taxes at 0.62%
The Home Buying Process in Arkansas
Buying a home in Arkansas follows a 10-step process. Arkansas does not require an attorney at closing, though you may choose to hire one.
1
Check Your Credit Score & Finances
2
Get Pre-Approved for a Mortgage
3
Find a Real Estate Agent
4
Search for Homes & Make an Offer
5
Get a Home Inspection
6
Secure Your Financing
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First-Time Buyer Programs in Arkansas
ADFA Down Payment Assistance
Forgivable second mortgage for down payment
Up to $15,000Income: Varies by county
Cost of Buying a Home in Arkansas
| Down Payment (3.5% FHA) | $7,694 |
| Down Payment (20% Conventional) | $43,965 |
| Average Closing Costs | $11,665 |
| Transfer Tax | $725 |
| Annual Property Tax (est.) | $1,165/yr |
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Legal & Regulatory Details in Arkansas
Homestead Exemption
Available
Up to 80-160 acres, unlimited if under 1/4 acre in city
Licensing Authority
Arkansas Real Estate Commission
Arkansas Real Estate Law Overview
| Conveyance Document | Warranty deed |
| Security Instrument | Mortgage; deed of trust sometimes used |
| Foreclosure Process | Non-Judicial |
| Attorney Required at Closing | No |
| Deficiency Judgment | Yes |
| Redemption After Sale | No |
| Reinstatement Available | Yes |
| Seller Disclosures | Arkansas is a caveat emptor state. Sellers must disclose only federally mandated or health/safety defects and must answer buyers' questions honestly. |
