The Best Mortgage Lenders in Danville, AR
Compare verified mortgage lenders serving Danville, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Danville
Featured Mortgage Lenders
Arvest Mortgage
Arvest Bank
Arvest Bank is one of the most established and highly-rated mortgage lenders serving the Danville area through their Russellville branch location. With over 60 years of banking experience and deep roots in Arkansas communities, they offer comprehensive mortgage services with personalized local underwriting. Customers consistently praise their competitive rates, knowledgeable loan officers, and smooth closing process. Their strong regional presence ensures Danville residents receive dedicated service with the convenience of local decision-making and community-focused lending expertise.
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First Security Bank Mortgage
First Security Bank
First Security Bank has been serving Arkansas communities for over 75 years with multiple branches throughout the River Valley region. Their mortgage division receives exceptional ratings for customer service and local expertise. They specialize in rural and suburban lending, making them an excellent choice for Danville homebuyers. The bank is known for its competitive rates, flexible loan options, and commitment to community banking principles. Their local loan officers provide personalized guidance throughout the entire mortgage process, with many customers noting their responsiveness and attention to detail.
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The Mortgage Company
The Mortgage Company, Inc.
The Mortgage Company is a highly-specialized mortgage brokerage serving Danville and surrounding communities with exceptional customer satisfaction ratings. As an independent mortgage broker, they work with multiple lenders to find the best rates and terms for each borrower's unique situation. They are particularly praised for their expertise with USDA rural development loans, which are highly relevant for Danville area properties. With over 25 years of experience, their team provides personalized service, competitive pricing, and extensive knowledge of local real estate markets. Customers consistently highlight their efficiency, transparency, and ability to close loans quickly.
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Frequently Asked Questions
Common questions about mortgage lending in Danville, AR
What are the current average mortgage rates for homebuyers in Danville, AR?
Mortgage rates in Danville typically align with national averages but can be slightly higher due to the rural nature of Yell County. As of 2024, conventional 30-year fixed rates in Danville generally range from 6.5% to 7.25%, though local credit unions like Chambers Bank may offer competitive rates. It's important to get multiple quotes from both local and national lenders to find the best rate for your situation.
Are there any first-time homebuyer programs specifically available in Danville?
Yes, Danville 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, local lenders may offer special programs for teachers, healthcare workers, or other essential service employees in the Danville area. These programs can provide significant savings for qualifying buyers in Yell County.
How does Danville's rural location affect the mortgage approval process?
Danville's rural classification can impact mortgage approvals through USDA loans, which are particularly advantageous here. Many properties in and around Danville qualify for USDA Rural Development loans that require no down payment. However, appraisals might take longer due to fewer comparable properties, and some lenders may have stricter requirements for rural properties without municipal utilities.
What types of properties in Danville typically qualify for USDA loans?
Most properties within Danville's city limits and throughout Yell County qualify for USDA loans, given the area's rural designation. This includes single-family homes, manufactured homes on permanent foundations, and some condos. The property must meet USDA safety and livability standards and be located in an eligible area - which covers nearly all of Danville and surrounding communities.
Are property taxes in Danville typically included in mortgage escrow accounts?
Yes, most lenders in Danville will include property taxes in your escrow account since Yell County property taxes are relatively low but essential for local services. Danville's property tax rates average around 0.62% of assessed value, making housing costs more affordable. Your lender will typically collect 1/12 of the annual tax bill with each mortgage payment to ensure taxes are paid on time.
Why Choose a Mortgage Lender in Danville?
Local Market Knowledge
Lenders who understand Danville'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 Danville and get competitive rates on your home loan.