The Best Mortgage Lenders in Saint Francis, AR
Compare verified mortgage lenders serving Saint Francis, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Saint Francis
Featured Mortgage Lenders
First Community Bank Mortgage Department
First Community Bank
First Community Bank stands out as one of Eastern Arkansas's most trusted mortgage lenders with deep roots in the region. Serving Saint Francis and surrounding communities for over two decades, they offer personalized service through local loan officers who understand the unique needs of Arkansas homeowners. Their high rating reflects exceptional customer satisfaction, competitive rates, and expertise in rural housing loans including USDA programs ideal for the Saint Francis area. As a community-focused institution, they provide comprehensive mortgage solutions with the advantage of local decision-making and long-term relationship banking.
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Southern Bancorp Mortgage Services
Southern Bancorp
Southern Bancorp has built an outstanding reputation as a community development bank serving rural Arkansas communities including Saint Francis. With over three decades of experience, they specialize in mortgages for underserved areas and offer exceptional USDA rural development loans perfect for the Saint Francis region. Their mission-driven approach combines competitive rates with personalized service, and they're particularly strong with first-time homebuyer programs. The bank maintains high customer satisfaction ratings due to their transparent processes, local underwriting, and commitment to Arkansas communities.
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Guild Mortgage Company - Jonesboro Branch
Guild Mortgage Company
Guild Mortgage brings national lending power with strong local presence through their Jonesboro office that actively serves Saint Francis and Northeast Arkansas. With six decades of industry experience, they offer exceptionally competitive rates and a wide variety of loan products. Their high rating stems from excellent customer service, efficient processing, and specialized programs for rural homeowners. Guild consistently receives praise for their responsive communication and ability to close loans quickly while maintaining competitive pricing. Their extensive experience with USDA and FHA loans makes them particularly well-suited for the Saint Francis housing market.
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Frequently Asked Questions
Common questions about mortgage lending in Saint Francis, AR
What are the current average mortgage rates for homebuyers in Saint Francis, AR?
Mortgage rates in Saint Francis typically align with national averages but can be slightly lower due to the area's rural classification and lower cost of living. As of late 2024, 30-year fixed rates in the area generally range from 6.5% to 7.2%, though this varies by lender and borrower qualifications. Local credit unions like Southern Bancorp often offer competitive rates specifically for Saint Francis County residents.
Are there any special down payment assistance programs available for Saint Francis homebuyers?
Yes, the Arkansas Development Finance Authority (ADFA) offers several down payment assistance programs that are accessible to Saint Francis residents, including the ADFA Move-Up and ADFA Preferred programs. These can provide up to 5% of the loan amount in down payment assistance with a low fixed interest rate. Additionally, Saint Francis County may have local grants for first-time homebuyers through community development programs.
How does Saint Francis being a rural area affect my mortgage options?
Saint Francis's rural designation makes you eligible for USDA loans, which offer 100% financing with no down payment requirement - a significant advantage for qualified buyers. Many properties in and around Saint Francis qualify for these USDA Rural Development loans, which typically feature below-market interest rates and more flexible credit requirements than conventional loans.
What unique property considerations should I know about when getting a mortgage in Saint Francis?
Many homes in Saint Francis are older properties, so lenders may require more thorough inspections and potentially repairs for FHA or VA loans. Well and septic systems are common in the area, and lenders will typically require water quality tests and septic inspections before approving financing. Agricultural land or properties with outbuildings may require special appraisal considerations.
Are there any local first-time homebuyer programs specific to Saint Francis?
While there aren't programs exclusive to Saint Francis, the city qualifies for several Arkansas-wide first-time homebuyer initiatives. The ADFA's First-Time Homebuyer Program offers competitive fixed-rate mortgages with down payment assistance, and some local lenders provide closing cost assistance for buyers purchasing within Saint Francis city limits. The Saint Francis County Community Development office can provide information about any current local initiatives.
Nearby Cities
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Why Choose a Mortgage Lender in Saint Francis?
Local Market Knowledge
Lenders who understand Saint Francis'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 Saint Francis and get competitive rates on your home loan.