The Best Mortgage Lenders in London, AR
Compare verified mortgage lenders serving London, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in London
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service, competitive rates, and strong local presence in Arkansas. With over 28 years of experience, they specialize in a wide range of loan products and have a dedicated team in Russellville that serves the London area. Their high ratings and numerous positive reviews highlight their reliability, personalized approach, and commitment to helping clients achieve homeownership with ease.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly reputable lender with a strong regional presence in Arkansas, serving London and surrounding areas. Founded in 2008, they are praised for their efficient processing, competitive rates, and excellent customer support. Their loan officers are known for providing personalized guidance, and their focus on community engagement and transparent practices has earned them high customer satisfaction ratings and a loyal client base.
Loan Types:
New American Funding
New American Funding, LLC
New American Funding is a well-established lender with over two decades of experience, offering a comprehensive suite of mortgage products tailored to diverse needs. They have a significant presence in Arkansas and actively serve the London area, with a reputation for competitive rates, innovative technology, and outstanding customer care. Their high review counts and consistent ratings reflect their dedication to making the mortgage process smooth and accessible for all clients.
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Frequently Asked Questions
Common questions about mortgage lending in London, AR
What are the current average mortgage rates for homebuyers in London, AR?
Mortgage rates in London, AR, typically align with national averages but can be slightly lower due to the area's rural classification and lower cost of living. As of recent data, 30-year fixed rates often range between 6.5% and 7%, but it's essential to check with local lenders like those in nearby Russellville for the most accurate, personalized rates based on your credit profile and loan type.
Are there any first-time homebuyer programs specifically available for London, AR residents?
Yes, London homebuyers can access the Arkansas Development Finance Authority (ADFA) Down Payment Assistance program, which offers affordable fixed-rate mortgages and up to $10,000 in down payment assistance. Since London is in Pope County, buyers may also qualify for local grants or USDA loans, which are widely available given the area's rural designation.
How does London's rural location impact my mortgage options?
London's rural setting makes many homes eligible for USDA loans, which offer 100% financing with no down payment required—a significant advantage for qualified buyers. Additionally, you may find that local lenders are more familiar with appraising rural properties and land, which can streamline the mortgage process compared to urban areas.
What should I know about property taxes in London when applying for a mortgage?
Property taxes in London and Pope County are relatively low compared to national averages, which can help keep your overall monthly mortgage payment affordable. The average effective property tax rate in Pope County is around 0.59% of assessed value, so when you get pre-approved, your lender will factor this into your debt-to-income ratio calculations.
Are there local lenders in London, AR, or will I need to use a national bank?
While London itself is a small community, nearby cities like Russellville have several local banks and credit unions that specialize in mortgages for the area, such as First Arkansas Bank & Trust and Arvest Bank. Using a local lender can be beneficial as they often have a better understanding of the Pope County real estate market and can offer more personalized service.
Why Choose a Mortgage Lender in London?
Local Market Knowledge
Lenders who understand London'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 London and get competitive rates on your home loan.