The Best Mortgage Lenders in Des Arc, AR
Compare verified mortgage lenders serving Des Arc, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Des Arc
Featured Mortgage Lenders
Arvest Mortgage
Arvest Bank
Arvest Bank is one of the most established and highly-rated regional lenders serving rural Arkansas communities like Des Arc. With deep roots in Arkansas banking since 1961, they offer exceptional local service through their nearby Stuttgart branch. Customers consistently praise their competitive rates, personalized approach to mortgage lending, and expertise with USDA rural development loans which are particularly relevant for Des Arc homebuyers. Their mortgage specialists have extensive experience with Arkansas property markets and provide comprehensive guidance through the entire home financing process.
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Centennial Bank Mortgage
Home BancShares, Inc.
Centennial Bank has built a strong reputation across Arkansas for mortgage lending, with multiple locations serving the Des Arc area. Their local mortgage officers understand the unique aspects of Prairie County real estate and provide tailored solutions for both purchase and refinance needs. The bank receives excellent reviews for their responsive communication, streamlined application process, and competitive loan products. As an Arkansas-based institution, they have particular expertise with rural property financing and offer specialized programs for agricultural communities.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage consistently ranks among the top mortgage lenders in Arkansas with numerous awards and exceptional customer satisfaction ratings. While based in Little Rock, they actively serve clients throughout rural Arkansas including Des Arc. Their loan officers are praised for their expertise with various loan programs, particularly USDA and VA loans that benefit rural homebuyers. Customers highlight their efficient processing, competitive rates, and the personalized attention they provide throughout the mortgage journey. The company has built a strong reputation for making complex mortgage processes straightforward and stress-free.
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Frequently Asked Questions
Common questions about mortgage lending in Des Arc, AR
What are the current average mortgage rates in Des Arc, AR, and how do they compare to state averages?
Current mortgage rates in Des Arc typically align closely with Arkansas state averages, often ranging between 6.5% to 7.5% for 30-year fixed loans as of late 2023. Local lenders like First National Bank of Des Arc and Generations Bank may offer competitive rates specific to the area. It's wise to compare both local and online lenders since even small rate differences can significantly impact your long-term costs in Des Arc's affordable housing market.
Are there any first-time homebuyer programs specifically available for Des Arc residents?
Yes, Des Arc homebuyers can access the Arkansas Development Finance Authority's (ADFA) Down Payment Assistance program, which provides up to $10,000 in assistance statewide. Additionally, Prairie County may offer local housing initiatives, though programs are limited. Many Des Arc buyers successfully combine ADFA programs with FHA loans, which are popular given the area's median home prices around $120,000.
How does Des Arc's flood zone designation affect mortgage requirements?
Given Des Arc's location near the White River and frequent floodplain designations, most lenders will require flood insurance as a mortgage condition for properties in designated zones. This typically adds $500-$1,500 annually to housing costs. Before making an offer, verify the property's flood zone status through FEMA maps and factor insurance costs into your budget, as this significantly impacts affordability in many Des Arc neighborhoods.
What types of properties typically require special financing considerations in Des Arc?
Manufactured homes and older historic properties often need special financing in Des Arc. While manufactured homes comprise a significant portion of local housing, they typically require FHA or VA loans rather than conventional financing. Historic homes in Des Arc's downtown area may qualify for rehabilitation loans but often require additional inspections and higher down payments due to preservation requirements.
How long does the mortgage approval process typically take with local Des Arc lenders?
The mortgage process with local Des Arc lenders typically takes 30-45 days, similar to statewide timelines. Working with community banks like First National Bank of Des Arc can sometimes streamline the process due to their familiarity with local property values and quicker communication. However, rural property appraisals may add extra time since appraisers often travel from larger cities like Little Rock or Jonesboro.
Nearby Cities
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Why Choose a Mortgage Lender in Des Arc?
Local Market Knowledge
Lenders who understand Des Arc'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 Des Arc and get competitive rates on your home loan.