The Best Mortgage Lenders in Scott, AR
Compare verified mortgage lenders serving Scott, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Scott
Featured Mortgage Lenders
Jason Smith
First Security Bank Mortgage
First Security Bank is one of Arkansas's most established and highly-rated mortgage lenders with deep roots in central Arkansas. They have consistently maintained excellent customer satisfaction ratings and specialize in serving communities throughout Pulaski County and surrounding areas, including Scott. Their local underwriting and decision-making process allows for personalized service and competitive rates, with particular expertise in rural and suburban properties common in the Scott area.
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Chris Turnage
Arvest Bank Mortgage
Arvest Bank has been serving Arkansas communities for over six decades with a strong reputation for mortgage lending excellence. They maintain multiple branches throughout central Arkansas and have specific expertise in serving the Scott area and surrounding communities. Their mortgage team receives consistently high marks for customer service, local market knowledge, and competitive rate offerings. Arvest is particularly noted for their first-time homebuyer programs and construction lending expertise.
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Mortgage Department
Bank of England Mortgage
Bank of England Mortgage has built a strong reputation in central Arkansas for providing personalized mortgage services with local decision-making authority. While headquartered in England, Arkansas, they maintain a significant presence in Little Rock and actively serve the Scott area. They are particularly noted for their competitive rates on rural properties and excellent customer service ratings. Their experienced loan officers specialize in both purchase and refinance transactions with efficient processing times.
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Frequently Asked Questions
Common questions about mortgage lending in Scott, AR
What are the current average mortgage rates for homebuyers in Scott, AR?
Mortgage rates in Scott typically align with national averages but can be slightly lower due to the area's rural designation. As of late 2024, 30-year fixed rates in Scott generally range from 6.5% to 7.25%, though local lenders like those in nearby Little Rock may offer competitive rates. It's best to compare offers from both local credit unions and national lenders for the best Scott-specific rate.
Are there any first-time homebuyer programs specifically available in Scott, AR?
Yes, Scott homebuyers can access the Arkansas Development Finance Authority's (ADFA) Mortgage Credit Certificate program, which provides a federal tax credit. Additionally, ADFA's Down Payment Assistance program offers up to $10,000 for eligible buyers in Scott. These programs are particularly valuable given Scott's median home prices being below state averages.
How does Scott's location in a flood zone affect mortgage requirements?
Given Scott's proximity to the Arkansas River and Fourche Creek, many properties require flood insurance, which lenders will mandate for mortgages in designated flood zones. This typically adds $500-$1,500 annually to housing costs. Your lender will order a flood certification during processing to determine if your specific property requires coverage.
What types of properties are most common in Scott's mortgage market?
Scott's mortgage market primarily consists of single-family homes on larger lots, many with agricultural or rural characteristics. You'll find many older homes (50+ years) alongside newer construction in developing subdivisions. Lenders familiar with Scott understand how to properly appraise these property types, which often include outbuildings or land beyond typical residential lots.
Are there local lenders in Scott that specialize in rural property mortgages?
While Scott itself has limited brick-and-mortar lenders, nearby institutions like First Security Bank and Simmons Bank have extensive experience with Scott's rural property types. These local lenders understand the unique appraisal considerations for properties with acreage, which can be crucial for mortgage approval in Scott's more rural areas.
Why Choose a Mortgage Lender in Scott?
Local Market Knowledge
Lenders who understand Scott'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 Scott and get competitive rates on your home loan.