Mortgage on a $500K house in Arkansas
$3,149 a month with 20% down — $2,691 principal and interest plus $208 property tax and $250 insurance.
Arkansas's typical property tax is 0.5% of the home's value a year (U.S. average 0.9%), which adds $208 a month on a $500K home. The typical home in Arkansas is worth $224,158, so $500K is 123% above the typical price.
$500K home in Arkansas: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $100,000 | $400,000 | $2,691 | $0 | $458 | $3,149 | $135,000 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $458 | $3,673 | $157,400 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $458 | $3,852 | $165,100 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $458 | $3,982 | $170,700 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.5% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Arkansas does $500K buy a typical home?
No Arkansas county has a typical home value within 15% of $500K.
74 of 74 Arkansas counties tracked by Zillow have a typical home value at or below $500K. See all Arkansas home prices.
Other prices in Arkansas
Frequently asked questions
What is the mortgage on a $500K house in Arkansas?
About $3,149 a month with 20% down at 7.11%: $2,691 principal and interest, $208 property tax and $250 insurance.
How much do I need to make to buy a $500K house in Arkansas?
About $135,000 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in Arkansas?
At Arkansas's typical effective rate of 0.5%, about $2,500 a year. Rates vary by county and city — see the county pages.