The Best Mortgage Lenders in Prim, AR
Compare verified mortgage lenders serving Prim, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Prim
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and competitive rates, with a strong local presence in central Arkansas. They specialize in a wide range of loan programs and have a reputation for quick closings and personalized service. Their Conway office serves Prim and surrounding areas, backed by hundreds of positive reviews highlighting reliability and expertise.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly regarded national lender with a strong footprint in Arkansas, offering diverse loan options and a focus on community engagement. They are praised for their competitive rates, efficient processing, and dedicated local loan officers who serve Prim and rural areas. Customer reviews frequently mention their responsiveness and support throughout the mortgage process.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is a rapidly growing lender known for its commitment to fast closings and community involvement, with a reliable presence in Arkansas. They offer a variety of loan products and are recognized for their transparent processes and high customer satisfaction. Serving Prim through local agents, they have built a reputation for accessibility and competitive financing options.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Prim, AR
What are the current average mortgage rates for homebuyers in Prim, AR?
Mortgage rates in Prim typically align with national averages but can vary based on local lenders and property types. Currently, 30-year fixed rates in the area range from 6.5% to 7.25%, while FHA and VA loans may offer slightly lower rates. It's best to compare offers from local lenders like First Service Bank or Century Next Bank, which have branches serving the Prim area.
Are there any first-time homebuyer programs specifically available in Prim, AR?
Yes, the Arkansas Development Finance Authority (ADFA) offers its Down Payment Assistance (DPA) program statewide, including in Prim. This program provides up to 5% of the loan amount in down payment assistance for eligible first-time buyers. Additionally, some local lenders may offer special programs for teachers, healthcare workers, or other essential workers in the Prim community.
How does Prim's rural location affect mortgage lending options?
Prim's rural designation makes USDA loans an excellent option for qualified buyers, offering 100% financing with no down payment required. Many properties in and around Prim qualify for USDA rural development loans due to the area's population density. This can be particularly advantageous for buyers with moderate incomes who might struggle with down payment requirements.
What unique closing costs should I expect when buying a home in Prim?
In addition to standard closing costs, Prim homebuyers should budget for rural-specific expenses like well and septic inspections, which typically cost $400-$600 combined. Title insurance and recording fees in Stone County are generally comparable to state averages, but you may encounter higher costs for property surveys in more remote areas surrounding Prim.
How do property values in Prim affect mortgage qualification and loan options?
With Prim's median home price around $150,000-$200,000, many buyers can qualify for conventional loans with lower down payment requirements (3-5%). The affordable housing market also means jumbo loans are rarely needed, making qualifying easier for most buyers. However, appraisals in rural areas like Prim may require appraisers familiar with local comparable sales, which can sometimes affect the lending timeline.
Why Choose a Mortgage Lender in Prim?
Local Market Knowledge
Lenders who understand Prim'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 Prim and get competitive rates on your home loan.