The Best Mortgage Lenders in Friendship, AR
Compare verified mortgage lenders serving Friendship, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Friendship
Featured Mortgage Lenders
Centennial Bank
Centennial Bank
Centennial Bank is a top-rated regional lender with a strong presence in Hot Spring County, serving Friendship and surrounding areas. Founded in 1998, it has built a reputation for personalized service, competitive mortgage rates, and deep community involvement. With over 25 years of experience, the bank offers a wide range of loan products and is praised for its reliability, local expertise, and high customer satisfaction scores in Arkansas.
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New American Funding
New American Funding, LLC
New American Funding is a highly-rated national mortgage lender with a robust local office in Little Rock, effectively serving Friendship and central Arkansas. Established in 2003, it is known for its innovative loan options, including programs for diverse borrowers, and consistently receives high marks for customer service, competitive rates, and efficient processing. With over two decades of experience, it maintains a strong regional presence and excellent review ratings.
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loanDepot
loanDepot, LLC
loanDepot is a reputable national mortgage lender founded in 2010, offering extensive online and phone-based services to borrowers in Friendship and across Arkansas. With 14 years of experience, it is acclaimed for its competitive rates, streamlined application process, and a wide array of loan products. Despite being based in California, it has a strong track record of customer satisfaction, high review counts, and efficient service for both purchase and refinance loans in rural and urban areas.
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Frequently Asked Questions
Common questions about mortgage lending in Friendship, AR
What are the current average mortgage rates for homebuyers in Friendship, AR?
Mortgage rates in Friendship typically align with national averages but can be slightly lower due to the rural nature of the area. As of late 2024, you can expect conventional 30-year fixed rates around 6.5-7%, though this varies by lender and credit profile. Local credit unions like Diamond Lakes Credit Union often offer competitive rates for area residents.
Are there any first-time homebuyer programs specifically available in Friendship?
Yes, Friendship homebuyers can access the Arkansas Development Finance Authority's (ADFA) Down Payment Assistance program, which provides up to $10,000 in assistance. Additionally, the USDA Rural Development loan is particularly relevant for Friendship properties, offering 100% financing with no down payment required for eligible borrowers in this designated rural area.
How does Friendship's rural location affect mortgage lending requirements?
Friendship's rural designation makes many properties eligible for USDA loans, which have more flexible credit requirements and require no down payment. However, some lenders may require additional property inspections for older homes common in the area. Appraisals might also take longer due to fewer comparable sales in this smaller market.
What special considerations should I know about when buying manufactured homes in Friendship?
Many Friendship properties are manufactured homes, which require specific financing through FHA Title II, VA, or USDA loans if the home is permanently affixed to a owned foundation. Local lenders are familiar with these requirements, but interest rates may be slightly higher than for site-built homes. You'll need to verify the home meets HUD standards and has a proper foundation.
Are there property tax advantages for homebuyers in Friendship that affect mortgage planning?
Friendship homeowners benefit from Arkansas's homestead tax credit, which exempts the first $375 of assessed value from property taxes. Clark County's overall property tax rates are relatively low compared to urban areas, typically around 0.62% of assessed value. Your lender will help factor these favorable tax rates into your debt-to-income calculations.
Why Choose a Mortgage Lender in Friendship?
Local Market Knowledge
Lenders who understand Friendship'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 Friendship and get competitive rates on your home loan.