The Best Mortgage Lenders in Evansville, AR
Compare verified mortgage lenders serving Evansville, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Evansville
Featured Mortgage Lenders
Arvest Bank
Arvest Bank
Arvest Bank is a highly-rated regional lender with over six decades of experience serving Northwest Arkansas, including Evansville. Known for competitive mortgage rates, personalized service, and a wide range of loan options, Arvest has strong local branch presence and consistently high customer satisfaction scores. Their commitment to community banking and extensive experience make them a top choice for homebuyers in the area.
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First Security Bank
First Security Bank
First Security Bank has been a trusted mortgage provider in Arkansas for over 90 years, offering reliable and competitive lending solutions to Evansville residents. With high customer ratings for their attentive service and flexible loan programs, they emphasize local decision-making and community involvement. Their long-standing reputation and dedication to client success make them a standout option in the region.
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Arkansas Federal Credit Union
Arkansas Federal Credit Union
Arkansas Federal Credit Union is a member-focused lender with exceptional ratings for customer service and competitive mortgage rates. Serving Evansville and surrounding areas, they offer tailored loan programs and educational resources for homebuyers. As a not-for-profit cooperative, they prioritize member satisfaction and community support, making them a highly recommended choice for personalized mortgage solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Evansville, AR
What are the current average mortgage rates for homebuyers in Evansville, AR?
Mortgage rates in Evansville typically align with national averages but can vary based on local lender competition and property types. Currently, 30-year fixed rates range between 6.5-7% for qualified buyers, though rural properties common in this area may have slightly different terms. It's best to check with local Arkansas lenders like First National Bank of Fort Smith or Chambers Bank for Evansville-specific rate quotes.
Are there any first-time homebuyer programs specifically available in Evansville, AR?
Yes, Evansville homebuyers can access the Arkansas Development Finance Authority's (ADFA) mortgage programs, which offer competitive interest rates and down payment assistance. These programs are particularly valuable in Evansville's affordable housing market, where median home prices are below state averages. Local lenders can help you determine eligibility for ADFA's 1st Home Preferred Loan program with down payment assistance up to 4%.
How does Evansville's rural location affect mortgage lending requirements?
Evansville's rural classification can work to your advantage through USDA Rural Development loans, which offer 100% financing with no down payment required. Many properties in and around Evansville qualify for these programs, making homeownership more accessible. However, rural appraisals may take longer and require specialized appraisers familiar with Washington County's property values.
What special considerations should I know about when getting a mortgage for older homes in Evansville?
Many Evansville homes have historical significance or older construction, which may require FHA 203(k) renovation loans or specialized inspections. Lenders often require thorough foundation, electrical, and plumbing inspections for properties over 50 years old. Working with local lenders experienced in Evansville's housing stock can help navigate these requirements smoothly.
How does the seasonal economy in northwest Arkansas affect mortgage approval in Evansville?
Evansville's proximity to larger employment centers like Fayetteville provides stability, but seasonal agricultural work in the area may require additional income documentation. Lenders typically look for two years of consistent income history, which is important for residents working in seasonal industries. Self-employed applicants should prepare thorough tax documentation to demonstrate income stability.
Why Choose a Mortgage Lender in Evansville?
Local Market Knowledge
Lenders who understand Evansville'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 Evansville and get competitive rates on your home loan.