The Best Mortgage Lenders in Helena, AR
Compare verified mortgage lenders serving Helena, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Helena
Featured Mortgage Lenders
Mortgage Team
Simmons Bank Mortgage
Simmons Bank has been serving Arkansas communities for over a century with a strong regional presence throughout the Delta region. Their mortgage team specializes in serving rural and small community homebuyers with personalized service and competitive rates. As an established FDIC-insured institution with deep roots in Eastern Arkansas, they understand the unique needs of Helena area residents and offer comprehensive mortgage solutions with local underwriting and decision-making.
Loan Types:
Mortgage Department
First Community Bank
First Community Bank has built a strong reputation across Eastern Arkansas with specialized mortgage lending expertise in serving smaller communities like Helena. Their experienced loan officers provide personalized guidance through the entire mortgage process, with particular strength in USDA rural development loans and FHA programs that benefit first-time homebuyers. As a community-focused bank with decades of service in the region, they offer local decision-making and understanding of the unique Helena real estate market.
Loan Types:
Mortgage Solutions Team
Regions Bank Mortgage
Regions Bank maintains an actual physical branch location in Helena with dedicated mortgage professionals who serve the local community. With nearly 50 years of banking experience and a strong presence throughout Arkansas, Regions offers competitive mortgage products specifically tailored for the Delta region. Their local Helena office provides face-to-face service and understanding of the area's unique housing market, combined with the resources of a larger regional banking institution. They excel in both purchase mortgages and refinancing options for Helena residents.
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Frequently Asked Questions
Common questions about mortgage lending in Helena, AR
What are the current average mortgage rates for homebuyers in Helena, AR?
Mortgage rates in Helena typically align with national averages but can be slightly higher due to the rural nature of the area and smaller local lending market. As of recent data, 30-year fixed rates generally range from 6.5% to 7.5%, but it's essential to shop local lenders like Southern Bancorp or regional banks for the most competitive Helena-specific rates. Your specific rate will depend on credit score, loan type, and down payment amount.
Are there any first-time homebuyer programs specifically available in Helena?
Yes, the Arkansas Development Finance Authority (ADFA) offers several first-time homebuyer programs that are accessible in Helena, including down payment assistance and competitive fixed-rate mortgages. Additionally, local lenders may participate in USDA Rural Development loans, which are particularly relevant for Helena-West Helena homebuyers due to the area's USDA eligibility, offering 100% financing options.
How does Helena's location in a flood zone affect mortgage requirements?
Given Helena's proximity to the Mississippi River, many properties require flood insurance, which lenders will mandate for mortgages in designated Special Flood Hazard Areas. Before approving your loan, lenders will order a flood zone determination, and if required, you'll need to purchase flood insurance, adding to your monthly housing costs. It's crucial to factor this into your budget when considering homes near the river or in low-lying areas.
What types of mortgage loans are most common for Helena's older historic homes?
For Helena's many historic properties, FHA 203(k) rehabilitation loans are popular as they allow buyers to finance both purchase and renovation costs. Conventional loans may require more stringent inspections and appraisals for older homes, so local lenders familiar with Helena's historic districts can guide you best. USDA loans also work well for qualifying properties outside the immediate downtown historic area.
How does Phillips County's declining population affect mortgage lending in Helena?
While Phillips County has seen population decline, this can create both challenges and opportunities for mortgage seekers. Lenders may be more cautious with appraisals, but there are often attractive pricing opportunities in Helena's housing market. Local lenders understand these market dynamics and can help navigate financing for properties that might not appreciate as quickly as in growing markets.
Why Choose a Mortgage Lender in Helena?
Local Market Knowledge
Lenders who understand Helena'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 Helena and get competitive rates on your home loan.