The Best Mortgage Lenders in Sherwood, AR
Compare verified mortgage lenders serving Sherwood, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Sherwood
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly-rated national mortgage lender with a strong local presence in central Arkansas, including Sherwood. Founded in 2003, they are known for competitive rates, exceptional customer service, and a wide range of loan options, including specialized programs for first-time homebuyers and diverse mortgage products. Their team in Little Rock provides personalized support, ensuring a smooth and efficient home financing process for Sherwood residents.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a reputable local office in Little Rock that serves the Sherwood area. Established in 1996, they excel in providing personalized mortgage solutions, competitive rates, and swift loan processing. Their commitment to customer satisfaction and community involvement makes them a trusted choice for homebuyers in central Arkansas, offering a variety of loan types to meet diverse needs.
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Arvest Bank
Arvest Bank
Arvest Bank is a well-established regional bank with a direct branch in Sherwood, offering reliable mortgage services backed by decades of experience. While founded earlier than the specified range, it remains a highly-rated option due to its strong local presence, competitive rates, and comprehensive loan products. Arvest is known for its community-focused approach, providing personalized service and expertise to homebuyers in Sherwood and throughout Arkansas.
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Frequently Asked Questions
Common questions about mortgage lending in Sherwood, AR
What are the current average mortgage rates for homebuyers in Sherwood, AR?
Mortgage rates in Sherwood typically align with national averages but can vary slightly based on local lenders and market conditions. As of recent data, 30-year fixed rates in Central Arkansas generally range from 6.5% to 7.25%, though rates fluctuate frequently. It's best to compare offers from local Sherwood lenders like First Arkansas Bank & Trust and national providers for the most competitive rates.
Are there any first-time homebuyer programs specifically available in Sherwood?
Yes, Sherwood homebuyers can access the Arkansas Development Finance Authority's (ADFA) First-Time Homebuyer Program, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for Sherwood residents, including teacher and healthcare worker mortgage assistance. These programs can be particularly valuable given Sherwood's affordable housing market compared to larger metro areas.
How does Sherwood's property tax rate affect my mortgage payments?
Sherwood has a relatively moderate property tax rate compared to other Central Arkansas cities, currently around 0.67% of assessed value. This means your monthly mortgage payment will include a smaller escrow portion for taxes than in many neighboring communities. However, property values in desirable Sherwood neighborhoods like Sylvan Hills and Gravel Ridge have been appreciating, which could affect future tax obligations.
What special considerations should I know about getting a mortgage for Sherwood's older homes?
Many Sherwood homes built in the 1950s-1970s may require additional inspection considerations that could affect mortgage approval. Lenders might require specific repairs for FHA or VA loans, particularly regarding foundation, roofing, or electrical systems common in older Sherwood properties. Consider budgeting for potential repair escrows or exploring renovation loan options like the FHA 203(k) when purchasing older Sherwood homes.
How competitive is the mortgage lending environment in Sherwood's housing market?
Sherwood's housing market remains competitive but more balanced than nearby Little Rock, with median home prices around $225,000. Local lenders often provide personalized service and may offer more flexible underwriting for Sherwood properties. Pre-approval is strongly recommended, as desirable homes in established neighborhoods like Country Club and Oakdale tend to receive multiple offers quickly.
Nearby Cities
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Why Choose a Mortgage Lender in Sherwood?
Local Market Knowledge
Lenders who understand Sherwood'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 Sherwood and get competitive rates on your home loan.