The Best Mortgage Lenders in Farmington, AR
Compare verified mortgage lenders serving Farmington, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Farmington
Featured Mortgage Lenders
Arvest Bank Mortgage
Arvest Bank
Arvest Bank is the dominant regional mortgage lender in Northwest Arkansas with deep roots in the Farmington community. As one of the largest locally-headquartered banks, they offer exceptional personalized service and competitive rates. Their mortgage team has extensive experience with the Northwest Arkansas real estate market and offers a comprehensive range of loan products. Customers consistently praise their responsive communication, local underwriting decisions, and smooth closing processes. With multiple branches throughout the region, they provide convenient in-person service while maintaining strong community ties.
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First Security Bank Mortgage
First Security Bank
First Security Bank has been serving Northwest Arkansas communities for generations and maintains a strong presence in the Farmington area. Their mortgage division is highly regarded for competitive rates and exceptional customer service. They offer local decision-making and personalized guidance throughout the home buying process. Customers frequently highlight their knowledgeable loan officers, efficient processing, and flexibility in working with various financial situations. As an Arkansas-based institution, they understand the local market dynamics and provide tailored solutions for Farmington homebuyers.
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Academy Mortgage - Northwest Arkansas
Academy Mortgage Corporation
Academy Mortgage's Northwest Arkansas branch consistently receives outstanding reviews for their expertise and customer-focused approach to mortgage lending in the Farmington area. Their local team has deep knowledge of the Northwest Arkansas housing market and offers a wide variety of loan programs with competitive rates. They are particularly praised for their responsive communication, transparent process, and ability to close loans quickly. Many customers note their exceptional guidance for first-time homebuyers and their creative solutions for complex financing situations, making them a top choice for Farmington residents.
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Frequently Asked Questions
Common questions about mortgage lending in Farmington, AR
What are the current mortgage rates like in Farmington, AR?
Mortgage rates in Farmington typically align with national averages but can vary based on local lender competition and property types. As of recent trends, rates for 30-year fixed mortgages in Northwest Arkansas generally range from 6.5% to 7.5%, but it's best to check with local Farmington lenders like Arvest Bank or First National Bank of NWA for the most current rates and any special promotions for local homebuyers.
Are there any first-time homebuyer programs specific to Farmington?
Yes, Farmington 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 in Washington County may offer special programs for teachers, healthcare workers, or other essential workers employed in the Farmington area.
How does Farmington's growth impact mortgage lending and home values?
Farmington's proximity to Fayetteville and the expanding Northwest Arkansas corridor has led to steady home value appreciation, typically 3-5% annually. This growth means lenders may be more confident approving mortgages in the area, but it also requires buyers to be prepared for competitive bidding situations and potentially higher down payments to secure properties.
What special considerations should I know about when getting a mortgage for a Farmington home?
Farmington's mix of newer subdivisions and older rural properties means mortgage requirements can vary significantly. For properties with acreage or outbuildings, you may need agricultural or rural property appraisals. Also, since Farmington is in a moderate seismic zone, some lenders may require specific earthquake insurance endorsements, which could affect your overall housing payment.
Are there any local down payment assistance programs available for Farmington homebuyers?
While Farmington itself doesn't offer city-specific programs, Washington County provides down payment assistance through the HOME Investment Partnerships Program. Qualified buyers can receive up to $10,000 in assistance, and many Farmington residents also benefit from the ADFA's Down Payment Assistance program, which offers up to 4% of the loan amount for eligible borrowers.
Nearby Cities
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Why Choose a Mortgage Lender in Farmington?
Local Market Knowledge
Lenders who understand Farmington'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 Farmington and get competitive rates on your home loan.