The Best Mortgage Lenders in Centerville, AR
Compare verified mortgage lenders serving Centerville, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Centerville
Featured Mortgage Lenders
Arvest Bank Mortgage
Arvest Bank
Arvest Bank is one of Arkansas's most established and highly-rated mortgage lenders with extensive statewide presence. While headquartered in Bentonville, they serve communities throughout Arkansas including rural areas like Centerville. They offer competitive rates and a wide variety of loan programs with exceptional customer service ratings. Their deep roots in Arkansas communities and comprehensive mortgage services make them a top choice for Centerville residents seeking personalized service from a trusted local institution.
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First Security Bank Mortgage
First Security Bank
First Security Bank is an Arkansas-based community bank with strong statewide mortgage lending operations. They have built an excellent reputation for serving rural Arkansas communities with competitive mortgage products and personalized service. Their mortgage team specializes in both urban and rural property financing, including USDA loans that are particularly relevant for Centerville area homes. With decades of experience and high customer satisfaction ratings, they provide reliable mortgage services throughout the region.
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Simmons Bank Mortgage
Simmons Bank
Simmons Bank has deep roots in Arkansas with over a century of serving communities across the state. Their mortgage division offers comprehensive lending services with particularly strong ratings for customer service and competitive rates. They have extensive experience with rural property financing and offer specialized programs for Arkansas homebuyers. As one of the state's largest financial institutions, they provide the stability of a major bank while maintaining local decision-making and personalized service for Centerville area residents.
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Frequently Asked Questions
Common questions about mortgage lending in Centerville, AR
What are the current average mortgage rates for homebuyers in Centerville, AR?
Mortgage rates in Centerville typically align with national averages but can vary based on local lender competition. Currently, 30-year fixed rates hover around 6.5-7% in the area, though rates may be slightly lower for borrowers with excellent credit. It's best to compare offers from local banks and credit unions like First Financial Bank or Southern Bancorp for the most competitive rates.
Are there any first-time homebuyer programs specifically available in Centerville?
Yes, Centerville homebuyers can access the Arkansas Development Finance Authority's (ADFA) First-Time Homebuyer Program, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for teachers, healthcare workers, or other essential service employees working in the Centerville area.
How does Centerville's rural location affect mortgage lending options?
Centerville's rural designation makes buyers eligible for USDA loans, which offer 100% financing with no down payment required. This is particularly beneficial given the area's moderate home prices. Many local lenders are experienced with USDA loans and can guide buyers through the specific property eligibility requirements for the Centerville area.
What unique closing costs should I expect when buying a home in Centerville?
Beyond standard closing costs, Centerville homebuyers should budget for rural-specific expenses like well and septic inspections, which typically cost $400-600 combined. You'll also encounter standard Arkansas transfer taxes and recording fees. Local lenders can provide detailed closing cost estimates specific to Centerville properties.
How do property values in Centerville affect loan-to-value ratios and PMI requirements?
With Centerville's median home price around $150,000, many buyers can avoid PMI by putting down 20% ($30,000). For those with smaller down payments, PMI costs are generally lower than in urban areas due to the modest home values. Local appraisers are familiar with Centerville's market trends, ensuring accurate property valuations for lenders.
Why Choose a Mortgage Lender in Centerville?
Local Market Knowledge
Lenders who understand Centerville'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 Centerville and get competitive rates on your home loan.