Little Rock remains one of America’s last genuine bargains. The Q2 2024 median sale price sits at $195,000, up 4.2 % year-over-year yet still $140,000 below the national median. Inventory is healthy at 2.4 months, so buyers can negotiate closing-cost credits without the brutal multiple-offer scenes seen in Northwest Arkansas.

• Price per square foot: $115, ranging from $90 in Southwest Little Rock to $150 in The Heights.
• Average days on market: 18, down from 24 last year but still forgiving.
• New construction: 600+ lots actively building in Chenal Valley, Otter Creek, and Shannon Hills—most priced $275k–$400k.

Local economists point to stable employment: state-government jobs cap the unemployment rate near 3.5 %, while the $1.2 billion UAMS expansion and Amazon’s fulfillment center in neighboring North Little Rock add 3,000+ new positions annually. Translation: steady housing demand without the boom-bust volatility that plagues oil or tourism towns.

First-time buyers flock to Hillcrest and Briarwood for the walkable diner scene and Halloween parades that feel straight out of a movie. Expect 1920s bungalows between 1,200–1,600 sq ft listed at $175k–$225k; renovation loans like FHA 203(k) or NMHL’s HomeStyle Flex let you roll $25k in updates into one payment at today’s low rates.

Chenal Valley offers suburban newness—top-tier LRSD schools, gated swim clubs, and 3-car garages—starting at $275k. If you crave downtown energy, the River Market and SoMa districts have condos with rooftop gardens from $215k; HOA dues run $150–$250 but include water, sewer, and that coveted riverfront trail access.

On a tighter budget? Look south of Interstate 630 in Baseline or Wakefield. Prices dip to $120k–$150k, and the City of Little Rock’s Neighborhood Revitalization Strategy offers 5-year tax abatements on qualifying rehabs. NMHL’s FHA 203(k) loans close here weekly, so sellers expect renovation buyers and price accordingly.

Coming up with a down payment is the biggest hurdle for most Arkansans, but Little Rock stacks the deck in your favor. Start with ADFA’s Down Payment Assistance: up to $15,000 forgivable after five full years of occupancy. Income limits run $95,900 (2 people) and $110,000 (3+), well above Pulaski’s median.

Teachers, firefighters, and LPNs can layer the Arkansas Teacher & First Responder Program for an extra $2,000 closing-cost grant. If you’re buying in South Little Rock census tracts, the Federal Home Loan Bank of Dallas pairs up to $7,500 that’s forgiven monthly over 60 months—zero interest, zero recapture.

NMHL sweetens the pot with our HomeNow second-mortgage program: 3 % of the purchase price at 0 % interest, no payment due until you sell or refinance. On a $195k home that’s $5,850 that covers your FHA 3.5 % requirement, leaving you to pay only appraisal, inspection, and insurance.

Little Rock’s millage rate totals 69.5 mills inside the city-school district, translating to about $1,210 per year on a $195k assessed home. Arkansas assesses at 20 % of appraised value, so your tax basis is $39k; multiply by 0.0695 and you get the $1,210 figure—roughly $100 per month.

• Homestead credit: Knock off another $350 if you file the Homestead Exemption by October 1st.
• Senior freeze: Age 65+ can freeze the assessed value and avoid future increases.
• County tax: Unincorporated Pulaski runs 8 mills lower, a $150 annual savings that investors love for rentals west of the river.

Insurance runs $1,050–$1,400 yearly thanks to Little Rock’s distance from Tornado Alley, but flood zones creep up along the Arkansas River. NMHL’s licensed insurance team shops rates from eight carriers during pre-approval so your debt-to-income ratio is rock-solid before you write an offer.

Little Rock hosts Little Rock Air Force Base in nearby Jacksonville, so VA loans are woven into the market fabric. NMHL’s VA Zero+ covers purchase, appraisal, and up to $6k of repairs in a single 30-year fixed at market rates—no down payment, no monthly PMI, and we accept VA disability waivers to remove the funding fee entirely.

FHA remains the workhorse for buyers rebuilding credit. At 580, you put just 3.5 % down ($6,825 on the median) and we allow 50 % back-end DTI if you have three months of reserves. Had a bankruptcy? FHA’s two-year seasoning clock starts at discharge; we’ve closed dozens after 25 months when credit rebounded to 620.

If your score is under 580—or you can’t document traditional income—our Portfolio Flex loan looks at 12 months of bank statements, counts 100 % of business deposits, and caps the rate premium at 1.25 % over prime. You’ll need 15 % down, but gift funds are allowed and we don’t hit you with pre-payment penalties.

National Mortgage Home Loans isn’t a faceless online lender—we opened our Cantrell Road branch in 2011 and have funded 2,300+ Arkansas mortgages in the last 24 months. Our underwriters live in Conway and Sherwood, so they understand why a Conway address might still qualify for Pulaski County down-payment grants and how to read a 1099 from a traveling nurse assigned to UAMS.

• Local underwriting: Decisions in 24–48 hours, not weeks.
• Arkansas down-payment experts: We average $4.2 million in ADFA and municipal assistance closed annually.
• Credit compassion: 60 % of our Little Rock clients close with scores under 680; we hand you a custom action plan if you’re not quite there yet.

From your first pre-approval to the day you pick up keys at the Pulaski County Courthouse, you’ll work with one loan officer and one processor—no hand-offs to a 1-800 number. Ready to see exactly how far your income will go in Hillcrest, Chenal, or downtown’s newest loft conversion? Tap the Apply Now button or call (501) 555-LOAN and we’ll have numbers tailored to you in under 15 minutes.