The Best Mortgage Lenders in Bigelow, AR
Compare verified mortgage lenders serving Bigelow, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bigelow
Featured Mortgage Lenders
Mortgage Department
First Security Bank
First Security Bank is a highly-rated regional institution with deep roots in Central Arkansas, serving Bigelow residents through their Conway location just 15 minutes away. With over 90 years in business, they offer personalized mortgage services with local decision-making and competitive rates. Their mortgage team receives exceptional reviews for responsive communication, smooth closing processes, and expertise in rural housing loans perfect for the Bigelow area. As a community-focused bank, they understand the unique needs of Perry County residents and offer specialized USDA rural development loans that many national lenders don't provide.
Loan Types:
Mortgage Lending Division
Simmons Bank
Simmons Bank maintains a strong mortgage lending presence in Central Arkansas with their Conway branch conveniently located near Bigelow. With over a century of banking experience, they offer comprehensive mortgage solutions with local underwriting and personalized service. Customers consistently praise their competitive rates, transparent fee structure, and knowledgeable loan officers who guide borrowers through the entire process. Their expertise in USDA loans makes them particularly valuable for Bigelow area homebuyers seeking rural development financing. The bank's long-standing commitment to Arkansas communities ensures reliable, local service.
Loan Types:
Mortgage Services
Arvest Bank
Arvest Bank operates multiple branches throughout Central Arkansas, including their Conway location that actively serves Bigelow residents. With six decades of mortgage lending experience, they offer a wide range of loan products with competitive rates and flexible terms. Arvest receives high marks for their digital mortgage application process combined with local loan officer support. Their strong community presence and understanding of rural Central Arkansas housing markets make them an excellent choice for Bigelow homebuyers. Customers frequently mention their professional service, timely closings, and helpful guidance for first-time buyers navigating the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Bigelow, AR
What are typical mortgage rates for homebuyers in Bigelow, AR?
Mortgage rates in Bigelow generally align with national averages but can vary based on local lender competition and property type. Currently, rates for 30-year fixed mortgages typically range from 6.5% to 7.5% for qualified buyers. It's recommended to compare offers from local Arkansas lenders like Arvest Bank and First Service Bank, as they often have competitive rates for Bigelow properties.
Are there any first-time homebuyer programs specifically available in Bigelow?
Yes, Bigelow homebuyers can access the Arkansas Development Finance Authority's (ADFA) First-Time Home Buyer Program, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for Perry County residents. These programs can provide significant savings through lower rates and reduced down payment requirements.
How does Bigelow's rural location affect mortgage lending requirements?
Bigelow's rural classification can work to your advantage through USDA Rural Development loans, which offer 100% financing with no down payment required. However, some conventional lenders may have stricter appraisal requirements due to the limited number of comparable home sales in the area. Working with lenders experienced in rural Arkansas properties is recommended.
What special considerations should I know about when getting a mortgage for older homes in Bigelow?
Many Bigelow homes have historical character but may require additional inspections for mortgage approval. Lenders often require thorough foundation, electrical, and plumbing inspections for older properties. You might need to budget for repairs or consider renovation loans like the FHA 203(k) if the home needs significant updates to meet lending standards.
Are property taxes in Bigelow typically included in mortgage escrow accounts?
Yes, most Bigelow mortgages include property taxes in escrow accounts, with Perry County property taxes being relatively affordable compared to national averages. Current rates are approximately 0.62% of assessed value. Your lender will calculate these payments based on the specific property's assessment and include them in your monthly mortgage payment.
Why Choose a Mortgage Lender in Bigelow?
Local Market Knowledge
Lenders who understand Bigelow's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Arkansas.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Bigelow and get competitive rates on your home loan.