The Best Mortgage Lenders in HS, AR
Compare verified mortgage lenders serving HS, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in HS
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender renowned for its exceptional customer service, competitive rates, and efficient loan processing. With nearly three decades of experience, they have a strong regional presence in Arkansas, including service to Hot Springs. They are praised for their personalized approach, wide range of loan options, and ability to close loans quickly, backed by hundreds of positive reviews highlighting reliability and professionalism.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage stands out for its focus on purchase loans and community engagement, offering streamlined processes and dedicated support. With over 15 years in business, they serve Hot Springs and surrounding areas, earning high marks for transparency, competitive rates, and fast closings. Their customer-centric approach and strong local presence make them a trusted choice, with numerous reviews applauding their responsiveness and expertise.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate combines innovative technology with personalized service, providing an easy online application and competitive pricing. With a quarter-century of experience, they have a solid reputation in Arkansas for serving Hot Springs homebuyers with diverse mortgage products. High customer satisfaction stems from their efficiency, transparency, and extensive loan options, supported by hundreds of reviews noting their reliability and professional guidance.
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Frequently Asked Questions
Common questions about mortgage lending in HS, AR
What are the current average mortgage rates in Harrison, AR, and how do they compare to state averages?
Mortgage rates in Harrison typically run very close to the Arkansas state average, which often sits slightly above national rates. As of late 2023/early 2024, you could expect average 30-year fixed rates in the mid-6% to low-7% range. It's wise to check with local Harrison lenders like Liberty Bank or First Community Bank for the most current, personalized rates.
Are there any down payment assistance programs specifically for homebuyers in Harrison, AR?
Yes, the Arkansas Development Finance Authority (ADFA) offers down payment assistance programs like the "HFA Preferred" and "HFA Preferred PLUS" loans, which are available to eligible homebuyers in Harrison. These programs can provide assistance in the form of a second mortgage to help cover down payment and closing costs, making homeownership more accessible for first-time and repeat buyers in Boone County.
How does the property appraisal process work in Harrison's unique market, where values can vary between town and rural areas?
Appraisals in Harrison must account for the significant differences between in-town properties and rural Boone County land. An appraiser will use comparable sales ("comps") from a similar setting—comparing rural homes to other rural properties, for instance. Given the mix of housing stock, from historic homes to new constructions, using a local appraiser familiar with the Harrison area is crucial for an accurate valuation.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Harrison?
Boone County, which includes Harrison, has relatively low property tax rates compared to national averages, which is a benefit for your monthly payment. However, you should budget for homeowner's insurance, which can be influenced by factors like the age of the home and its proximity to rural areas prone to severe weather. Your lender will help you set up an escrow account to manage these payments conveniently.
As a first-time homebuyer in Harrison, what local lender resources should I be aware of?
First-time homebuyers in Harrison should connect with local lenders who are well-versed in ADFA's first-time homebuyer programs. Many local banks and credit unions, such as Arvest Bank or CS Bank, offer first-time buyer seminars and one-on-one counseling. These resources are invaluable for navigating the process and understanding the specific loan products and grants available in the Harrison market.
Why Choose a Mortgage Lender in HS?
Local Market Knowledge
Lenders who understand HS'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 HS and get competitive rates on your home loan.