Managing Money In A Crisis
Weekly tips sent straight to your inbox
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Closing costs in Arkansas
See how much you might have to shell out in closing costs when you buy or sell a home in this state.
Updated
The average closing cost in Arkansas is $2,425 after taxes, or approximately 1.21% to 2.43% of the final home sale price.
Closing cost stats in Arkansas
Across the state, the average home sells for between $100,000 and $200,000. If you buy a property in that range, expect to pay between $1,212.50 and $4,850 in closing costs after taxes.
| Data | Value |
|---|---|
| Average home sale price | $100,000 to $200,000 |
| Average total closing cost | $2,425 |
| Expected closing cost range | $1,212.50 to $4,850 |
| Percentage of closing cost to home sale price | 1.21% to 2.43% |
Remember, these averages are based on sample data. Your closing costs may vary based on your lender, the size of your loan and whether or not you're paying in cash.
How much does tax affect the closing cost?
Buyers and sellers in Arkansas pay an average of $395 in tax combined for the closing. This accounts for 16.29% of the total average closing cost in Arkansas.
| Value | |
|---|---|
| Average tax paid | $395 |
| Percentage of total closing cost | 16.29% |
How do closing costs in Arkansas compare nationally?
The closing costs for buying a home in Arkansas are
amongst the nation's highest
after accounting for taxes. It’s 7th
in our rankings which rates states from lowest to highest closing cost.
| Average total closing cost in Arkansas | Ranking* | |
|---|---|---|
| Before taxes | $2,030 | 47 |
| After taxes | $2,425 | 7 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Bottom line
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Arkansas.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
Read more on this topic
-
Hometap equity partners review Access your equity through a partnership that shares in your home’s appreciation — or not — over 10 years.
-
How often can you refinance your home? You can refinance your mortgage as often as it makes sense.
-
What is a cash-out refinance and is it right for me? Find out how it works and if it makes sense for your current situation.
-
How to prepare for a mortgage refinance appraisal Removing clutter, repainting and updating fixtures can help increase your appraisal value.
-
Tips for refinancing a mortgage with bad credit You may still qualify for a mortgage refinance with damaged credit.
-
No-closing-cost refinance: Does it make sense? A no-closing-cost refinance has zero upfront fees, but may still cost you.
-
Mortgage rates in Hawaii Hawaii mortgage rates typically come in slightly below the national average.
-
Mortgage rates in New York Mortgage rates in New York generally fall below the national average and don’t vary much between loan types.
-
How the coronavirus may affect your mortgage Buyers and owners stand to gain as mortgage rates drop due to COVID-19. But longer waits.
-
HARP loan program alternatives in 2020 There are other government programs that can help you lower your interest rates and monthly payment to keep you from delinquency.
Ask an Expert