The Best Mortgage Lenders in Gregory, AR
Compare verified mortgage lenders serving Gregory, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Gregory
Featured Mortgage Lenders
Centennial Bank
Centennial Bank
Centennial Bank is a top-rated regional lender with a strong presence in Arkansas, serving Gregory and surrounding rural areas. Known for its personalized customer service and competitive rates, the bank has built a reputation for reliability over 25 years. Their experienced loan officers specialize in various loan types, including USDA loans ideal for rural homebuyers, and they are praised for their community-focused approach and efficient processing.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a highly-rated national lender with a robust local office in Little Rock, actively serving Gregory and central Arkansas. With nearly three decades of experience, they excel in providing competitive rates, swift closings, and exceptional customer support. Their diverse loan offerings, including USDA and VA loans, make them a preferred choice for rural and veteran homebuyers, backed by hundreds of positive reviews highlighting their professionalism and expertise.
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New American Funding
New American Funding
New American Funding is a reputable national lender with a strong track record of serving Arkansas communities, including Gregory. Founded in 2003, they are known for their innovative online tools, flexible loan options, and commitment to underserved markets. With high customer satisfaction ratings, they offer specialized programs for first-time homebuyers and competitive rates, making them a reliable choice for borrowers in rural areas seeking personalized mortgage solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Gregory, AR
What are the current average mortgage rates for homebuyers in Gregory, AR?
Mortgage rates in Gregory typically align with national averages but can be slightly higher due to the rural nature of the area. As of late 2024, 30-year fixed rates in Gregory generally range from 6.5% to 7.25%, though this varies by lender and borrower qualifications. Local lenders like First National Bank of Lawrence County often offer competitive rates specifically for Gregory residents.
Are there any first-time homebuyer programs specifically available in Gregory?
Yes, the Arkansas Development Finance Authority (ADFA) offers first-time homebuyer programs that are available throughout the state, including Gregory. These programs provide down payment assistance, competitive interest rates, and mortgage credit certificates. Additionally, some local lenders may offer special programs for Gregory residents purchasing their first home in the community.
How does Gregory's rural location affect the mortgage approval process?
Gregory's rural classification can impact lending through USDA loans, which are particularly advantageous here. Many properties in and around Gregory qualify for USDA rural development loans, which offer 100% financing with no down payment. However, appraisals may take slightly longer due to fewer comparable properties in the area, which is something buyers should plan for.
What types of properties are most common for mortgage lending in Gregory?
Gregory primarily features single-family homes on larger lots, many with acreage, and manufactured homes on permanent foundations. Traditional mortgages work well for site-built homes, while manufactured homes may require specialized lending programs. Given the agricultural surroundings, lenders are accustomed to evaluating properties with outbuildings and land, which differs from urban mortgage considerations.
Are there any local property tax considerations that affect mortgages in Gregory?
Yes, Lawrence County property taxes are relatively low compared to national averages, which can make monthly mortgage payments more affordable. The current millage rate in Gregory is approximately 39.9 mills, resulting in annual property taxes typically between $400-$800 for most homes. Lenders will factor these lower tax rates into your debt-to-income ratio calculations during mortgage qualification.
Why Choose a Mortgage Lender in Gregory?
Local Market Knowledge
Lenders who understand Gregory'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 Gregory and get competitive rates on your home loan.