First-Time Homebuyer Calculators Arkansas

Arkansas First-Time Homebuyer Calculator

Arkansas planning example: $29,083 cash on $229,000 at 10% down and 2.7% closing costs. Insurance opens at $916/year, an editable illustration.

By StateCalc Team

Updated Oct 18, 2026

Use Calculator Free — No Sign-up Instant Results Updated Oct 2026

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Home Price

$50,000$5,000,000

Pre-filled: Census/Zillow

Down Payment (%)

0100%

Mortgage Rate (%)

015%

Loan Term (Years)

1030

Additional Details

Annual Household Income

$10,000$1,000,000

Pre-filled: Census Bureau

Closing Costs (%)

010%

Property Tax Rate (%)

05%

Pre-filled: Tax Foundation

Conventional PMI Rate (% per year)

02%

Additional Details

Annual Homeowners Insurance Quote

$0$100,000

Down Payment Amount

$22,900.00

Estimated • Based on your inputs

Total Upfront Cash Needed

$29,083.00

Total Monthly Payment

$1,649.00

Detailed Breakdown

Closing Costs$6,183.00

78%

Monthly Mortgage (P&I)$1,337.00

17%

Monthly PMI$129.00

Monthly Property Tax$107.00

Monthly Home Insurance$76.00

Housing Payment / Gross Income31.86%

Months to Save (15% of Income)38

Disclaimer: This calculator provides estimates for informational purposes only. Results should not be considered financial, tax, or legal advice. Consult a qualified professional for your specific situation.

Arkansas Quick Facts

3.7% Income Tax Rate

0.56% Property Tax Rate

$62,106 Median Income

89 Cost of Living

How This Calculator Works

Calculation methodology and assumptions

Arkansas: $229,000 home value, 0.56% tax and $62,106 annual income open the form. Insurance starts at $916/year ($76/month): an illustrative 0.4% of price, not a verified state premium. Replace with your quote. Conventional PMI only; income share excludes other debts.

Full homebuyer calculation, rounding and excluded costs

Key State Information

Arkansas planning inputs: Median home value $229,000 | 20% down illustration $45,800 | Closing-cost illustration $6,183 at the editable 2.7% default | Effective property tax input 0.56%.

Standard financial formulas Pre-filled with documented data Estimates only — not financial advice

Data Source

Census Bureau, HUD, Zillow

View Original Source | Source record reviewed Mar 1, 2026 | Review target: annually

Example Calculation

Arkansas: $229,000 purchase-price illustration against $62,106 gross annual income.

10% down ($22,900) leaves $206,100 borrowed for 30 years at 6.75%: $1,337 monthly principal and interest. The 0.75% PMI entry adds $129; 0.56% property tax adds $107. The illustrative $916/year entry adds $76 homeowners insurance. Closing costs at 2.7% add $6,183.

Result: Cash to close in this model: $29,083. Monthly housing payment: $1,649, or 31.86% of gross income. Housing-only, with rounded monthly components; see the linked national method for excluded costs.

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StateCalc Team

Editorial Team

The StateCalc team builds free financial calculators using data from official government sources including the IRS, U.S. Census Bureau, BLS, and state revenue departments. All formulas are validated by an automated test suite and cross-referenced against published data.

Our editorial standards

Frequently Asked Questions

How much cash is in the Arkansas opening example?

$22,900 down plus $6,183 at the illustrative 2.7% closing-cost entry gives $29,083 on a $229,000 home. Replace these assumptions with your Loan Estimate; missing prepaids, escrow and reserves are extra.

Is $916 a Arkansas insurance quote?

No. $229,000 × 0.4% gives the illustrative annual entry of $916, divided by 12 and rounded to $76/month. Enter your insurer's actual quote; this is not a measured Arkansas premium.