Fort Smith’s median sale price has climbed a gentle 4 % annually since 2020, avoiding the boom-bust cycles seen in northwest Arkansas. Inventory sits at 2.3 months—tight but not impossible—so motivated buyers who arrive with an NMHL pre-approval letter in hand still win multiple-offer situations without waiving inspections.

• Fianna Hills: Median $225k, newer builds, top-rated Southside schools.
• Southside: Median $160k, 1970s brick homes, walkable to Jay’s BBQ.
• Massard: Median $185k, USDA pockets, 10 min to I-540 ramp.
• Ben Geren: Median $175k, golf-course views, 1-acre lots.

New construction is concentrated east of Zero Street; expect $140–$150 per square foot, still well below regional replacement cost. Investors target the 72901 zip for cash-flow rentals under $120k, while first-time buyers gravitate to 72908 for larger lots and lower tax millage.

Outside of ADFA, several hyper-local programs chip away at your cash-to-close:

• City of Fort Smith HOME Funds: $10,000 deferred-payment loan, 0 % interest, forgiven after five years in the home.
• Sebastian County Community Development: $7,500 grant for households earning ≤ 80 % Area Median Income ($54,350 for a family of four).
• Arkansas Federal Credit Union Matching: Up to $2,500 match for first-time buyers who complete a $25 online course; NMHL honors the certificate even if you ultimately finance with us instead of AFCU.

Layering is allowed: last spring we combined USDA 100 % financing with Sebastian County’s grant to cover the 1 % guarantee fee, so our buyer brought literally zero dollars to closing on a $172,000 home north of Janet Huckabee Nature Center.

Sebastian County assesses residential property at 20 % of market value, then applies a 0.58 % combined millage. On the median $155k home, annual tax runs about $450—one-third what you’d pay in Little Rock. Tax bills arrive in March and October; lenders collect 1⁄12 monthly into escrow.

Homeowner’s insurance averages $1,050 per year, but flood zones along the Arkansas River can add $400–$600. Always pull a FEMA flood cert during option period; NMHL’s in-house insurance agency can quote you in five minutes, often beating online carriers by 15 % because we map every Fort Smith fire-protection district.

If your score sits in the 500s, you’re not stuck renting on Towson Avenue forever. NMHL’s Fresh-Start Initiative has three Arkansas-specific tracks:

1. FHA 500: Manual underwrite with 10 % down. We accept 12 months of verified rent history and utility payments to offset thin credit.
2. CreditX 580: 3.5 % down, but we delete old medical collections under $2,000 using rapid-rescore vendors in Fayetteville—most clients gain 25 points in a week.
3. ITIN Loans: For non-permanent residents employed at OK Foods or Gerber, 20 % down, 660 score, 6.75 % fixed rate.

Still short on cash? Ask about the Arkansas Individual Development Account (IDA) that triple-matches every dollar you save—up to $2,000 becomes $6,000 toward down payment and closing costs.

Whether you own a food truck on Grand Avenue or haul timber from Mansfield, traditional tax-return underwriting rarely reflects true cash flow. NMHL’s 12- or 24-month bank-statement programs solve that:

• Use 80 % of gross deposits for personal accounts; 70 % for business accounts.
• One year of statements allowed if your credit score is 660+.
• Profit & Loss statement signed by your CPA—no need for audited financials.
• Loan amounts to $1.5 million, so you can still buy lakefront on Bobwhite or acreage in Jenny Lind.

Recent Fort Smith successes: $185k purchase for a BBQ caterer, $340k refinance for a third-generation ranch supply store, and $225k renovation loan on a duplex near UAFS that now cash-flows $650 per door.

Fort Smith hugs the western edge of Military Retirement Heaven: 188th Wing at Ebbing ANG Base, Fort Chaffee Maneuver Training Center, and thousands of retirees from nearby Fort Sill, OK. That means VA loans dominate the eastern 72908 zip code. Key local quirks:

• Surviving spouses can reuse VA after the veteran passes—crucial in a community with a large retiree population.
• VA construction loans are available; last year we built a $287k barndominium in Lavaca using a VA one-time close at 5.75 %.
• Termite inspections are mandatory; local provider Riley Pest Control charges $85 and completes reports within 24 hours.

If you’re on drill status, we gross-up your LES income by 25 % to qualify, because Guard pay is non-taxable. Combine that with zero down and no monthly PMI, and you see why 42 % of NMHL Fort Smith closings are VA.