The Best Mortgage Lenders in Perry, AR
Compare verified mortgage lenders serving Perry, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Perry
Featured Mortgage Lenders
Arvest Bank Mortgage
Arvest Bank
Arvest Bank is one of the most established and trusted regional lenders serving Perry and surrounding Perry County. With a physical branch located right in Perryville, they offer personalized local service combined with the resources of a major regional bank. Their mortgage team specializes in rural and small-town lending, including USDA loans which are particularly relevant for Perry area homebuyers. Customers consistently praise their knowledgeable local loan officers, competitive rates, and streamlined application process.
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Simmons Bank Mortgage
Simmons Bank
Simmons Bank has deep roots throughout Arkansas and maintains a strong presence in rural communities like Perry. As one of the state's largest financial institutions, they offer comprehensive mortgage services with local decision-making. Their mortgage specialists are experienced with rural property financing and understand the unique needs of Perry County residents. The bank receives high marks for their responsive customer service, flexible loan options, and commitment to community banking values despite their substantial size.
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First Security Bank Mortgage
First Security Bank
First Security Bank has built an excellent reputation for mortgage lending throughout central Arkansas, including service to Perry and Perry County. They specialize in rural and agricultural community lending with particular expertise in construction and land financing. Their mortgage team receives consistent praise for their personal approach, local underwriting, and understanding of rural property values. As an Arkansas-based community bank, they offer the accessibility of local decision-makers combined with competitive mortgage products suited for the Perry market.
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Frequently Asked Questions
Common questions about mortgage lending in Perry, AR
What are the current average mortgage rates for homebuyers in Perry, AR?
Mortgage rates in Perry typically align with national averages but can be slightly higher due to the rural nature of Perry County. As of late 2023, 30-year fixed rates in the area generally range from 6.5% to 7.25%, though local lenders like Chambers Bank and First Service Bank may offer competitive rates. It's important to get multiple quotes as rates can vary between lenders serving small Arkansas communities.
Are there any first-time homebuyer programs specifically available in Perry, Arkansas?
Yes, Perry homebuyers can access the Arkansas Development Finance Authority's (ADFA) First-Time Home Buyer Program, which offers competitive interest rates and down payment assistance. Additionally, the USDA Rural Development Loan is particularly relevant for Perry since the entire county qualifies as rural, offering 100% financing with no down payment required for eligible borrowers in this area.
How does Perry's rural location affect the mortgage approval process?
Perry's rural classification can impact appraisals since comparable home sales may be limited, potentially requiring appraisers to look at properties in nearby towns like Perryville or Morrilton. Lenders may also require additional documentation for rural properties, particularly if the home uses well water or septic systems. However, USDA loans are specifically designed for these rural markets and can streamline the process.
What types of properties are most common in Perry's mortgage market?
Perry's mortgage market primarily consists of single-family homes on larger lots, manufactured homes on permanent foundations, and rural properties with acreage. Traditional mortgages work for standard homes, while manufactured homes may require specialized loans like FHA Title II or VA loans for manufactured housing. Properties with significant land may require agricultural or rural land considerations in the loan terms.
Are there local property tax considerations I should know about when getting a mortgage in Perry?
Perry County has relatively low property tax rates compared to national averages, typically around 0.62% of assessed value. However, mortgage lenders will still require you to escrow for property taxes, and it's important to note that agricultural land may qualify for special use valuation. Your lender should help you estimate these costs accurately during the pre-approval process.
Why Choose a Mortgage Lender in Perry?
Local Market Knowledge
Lenders who understand Perry'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 Perry and get competitive rates on your home loan.