The Best Mortgage Lenders in Scranton, AR
Compare verified mortgage lenders serving Scranton, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Scranton
Featured Mortgage Lenders
Arvest Mortgage
Arvest Bank
Arvest Bank is one of Arkansas's most established and highly-rated mortgage lenders with deep roots throughout the state. While headquartered in Bentonville, they maintain multiple branches throughout northwest Arkansas and actively serve Scranton and surrounding Johnson County areas. They're particularly noted for their competitive USDA rural development loans which are ideal for Scranton homebuyers, along with their personalized service from local loan officers who understand the unique needs of rural Arkansas communities.
Loan Types:
Bank OZK Mortgage
Bank OZK
Bank OZK (formerly Bank of the Ozarks) has been serving Arkansas communities for over a century and maintains a strong presence throughout northwest Arkansas. Their Fort Smith location serves as a regional hub for Johnson County and Scranton area borrowers. They're particularly respected for their construction and lot loan expertise, making them an excellent choice for custom home building in rural areas. Customers consistently praise their competitive rates and the local decision-making authority of their mortgage team.
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Arkansas Federal Credit Union Mortgage
Arkansas Federal Credit Union
As Arkansas's largest credit union, Arkansas Federal serves members statewide including Scranton and Johnson County residents. They consistently earn top ratings for mortgage lending due to their exceptional member service, below-market rates for qualified borrowers, and flexible underwriting standards. Their USDA loan program is particularly strong for rural communities like Scranton, and they offer special first-time homebuyer programs with down payment assistance. Members appreciate the personalized service and local underwriting expertise.
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Frequently Asked Questions
Common questions about mortgage lending in Scranton, AR
What are the current average mortgage rates for homebuyers in Scranton, AR?
Mortgage rates in Scranton typically align with national averages but can vary based on local lender competition. Currently, 30-year fixed rates range between 6.5-7.25% depending on credit score and loan type. It's recommended to compare rates from local Arkansas lenders like Arvest Bank and First Western Bank, which have branches serving the Scranton area.
Are there any first-time homebuyer programs specifically available in Scranton, AR?
Yes, Scranton 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 ADFA's Mortgage Credit Certificate program can provide significant tax savings for eligible buyers in Scranton and throughout Johnson County.
How does Scranton's rural location affect mortgage lending options?
Scranton's rural designation makes buyers eligible for USDA Rural Development loans, which offer 100% financing with no down payment required. This is particularly advantageous given Scranton's affordable housing market, where median home prices are significantly below state and national averages, making homeownership more accessible.
What unique closing costs should I expect when buying a home in Scranton?
Scranton homebuyers should budget for standard Arkansas closing costs plus Johnson County-specific fees including transfer taxes and recording fees. Property taxes in Scranton are relatively low compared to urban areas, but you'll want to factor in title insurance, appraisal fees, and potentially a well and septic inspection given the rural nature of many properties.
How long does the mortgage approval process typically take for Scranton properties?
The mortgage process in Scranton typically takes 30-45 days, similar to most areas. However, rural properties may require additional time for appraisals since certified appraisers may need to travel from larger nearby cities like Fort Smith. Working with local lenders familiar with Johnson County properties can help streamline this process.
Why Choose a Mortgage Lender in Scranton?
Local Market Knowledge
Lenders who understand Scranton'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 Scranton and get competitive rates on your home loan.