The Best Mortgage Lenders in Fulton, AR
Compare verified mortgage lenders serving Fulton, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fulton
Featured Mortgage Lenders
Arvest Bank Mortgage
Arvest Bank
Arvest Bank is one of Arkansas's most established and trusted regional banks with a strong presence throughout the state. While their nearest branch to Fulton is in Hope (approximately 15 miles away), they actively serve the entire Hempstead County area. With over 60 years of community banking experience, Arvest offers comprehensive mortgage services including specialized rural and agricultural lending programs that benefit Fulton residents. Their local loan officers have deep knowledge of the area's real estate market and provide personalized service with competitive rates.
Loan Types:
Simmons Bank Mortgage
Simmons Bank
As another major Arkansas-based financial institution, Simmons Bank has served southern Arkansas communities for over a century. Their Hope location provides convenient mortgage services to Fulton residents with local decision-making and underwriting. Simmons is particularly strong in USDA rural development loans and FHA financing, making them an excellent choice for Fulton homebuyers. They maintain high customer satisfaction ratings for their responsive service and competitive mortgage products tailored to the region's needs.
Loan Types:
First National Bank of Tom Bean
First National Bank of Tom Bean
While based in nearby Texas, First National Bank of Tom Bean has established itself as a premier mortgage lender serving the Arkansas-Texas border region including Fulton. They specialize in rural and agricultural lending with exceptional personalized service. Their high 4.9 rating reflects outstanding customer satisfaction, and they offer unique expertise in financing properties in rural communities like Fulton. Their local underwriting and community-focused approach make them a top choice for Fulton residents seeking competitive mortgage solutions with exceptional service.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Fulton, AR
What are the current average mortgage rates for homebuyers in Fulton, AR?
Mortgage rates in Fulton typically align with national averages but can be slightly higher due to the rural nature of the area. As of recent data, 30-year fixed rates generally range from 6.5% to 7.25%, but it's essential to get personalized quotes from local lenders like those in nearby Texarkana or Hope, as they understand the local market nuances better.
Are there any first-time homebuyer programs specifically available in Fulton, AR?
Yes, the Arkansas Development Finance Authority (ADFA) offers the "HomeToOwn" program, which provides competitive interest rates and down payment assistance to eligible first-time homebuyers statewide, including Fulton. Additionally, some local lenders may offer special programs for teachers, veterans, or low-to-moderate income families in the area.
How does Fulton's rural location impact the mortgage approval process?
Fulton's rural setting can affect appraisals due to fewer comparable home sales, which might slow down the process. Lenders may also have stricter requirements for properties on well and septic systems, which are common here. Working with a lender experienced in rural Arkansas properties can help navigate these unique challenges smoothly.
What type of down payment is typically required for a home in Fulton?
While conventional loans often require 5-20% down, many Fulton homebuyers use FHA loans with down payments as low as 3.5%. USDA loans are also popular here due to Fulton's rural designation, offering 0% down payment options for qualified buyers in eligible areas, making homeownership more accessible.
Are there any local property tax considerations I should know about when getting a mortgage in Fulton?
Fulton, located in Hempstead County, has relatively low property tax rates compared to national averages, which can make monthly mortgage payments more affordable. However, it's important to factor in annual tax rates (typically around 0.62% of assessed value) when calculating your total housing payment, as lenders will include this in your escrow account.
Why Choose a Mortgage Lender in Fulton?
Local Market Knowledge
Lenders who understand Fulton'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 Fulton and get competitive rates on your home loan.