The Best Mortgage Lenders in Stephens, AR
Compare verified mortgage lenders serving Stephens, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stephens
Featured Mortgage Lenders
First Mortgage Direct
First Mortgage Company of Texas, LLC
First Mortgage Direct is a highly-rated regional lender with strong presence across southern Arkansas, serving the Stephens area with personalized mortgage solutions. They maintain exceptional 4.8-star ratings based on 185+ reviews, specializing in both purchase and refinance loans with competitive rates. Their team has extensive experience with rural housing loans including USDA programs, making them particularly well-suited for the Stephens market. They offer local underwriting and processing with the convenience of digital applications, providing the perfect blend of community banking feel with modern technology.
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Arvest Bank Mortgage
Arvest Bank
Arvest Bank is one of the most established and trusted regional financial institutions serving Stephens and surrounding communities. With multiple nearby branches in Columbia County, they offer comprehensive mortgage services backed by 60+ years of banking experience. They consistently earn 4.6-star ratings from hundreds of customers, providing competitive rates and exceptional local service. Their mortgage specialists have deep knowledge of the southern Arkansas real estate market and offer a full range of loan products including specialized rural development loans perfect for the Stephens area.
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Centennial Bank Mortgage
Home BancShares, Inc.
Centennial Bank has built a strong reputation across Arkansas with multiple locations serving the Stephens area through their Magnolia branch. They maintain solid 4.5-star ratings from 150+ reviews, offering personalized mortgage services with local decision-making. Their mortgage team specializes in rural community lending with expertise in USDA and FHA loans that are particularly relevant to the Stephens market. As an Arkansas-based institution, they understand the local real estate landscape and provide competitive rates with the convenience of in-person service combined with efficient digital processing.
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Frequently Asked Questions
Common questions about mortgage lending in Stephens, AR
What are the current average mortgage rates for homebuyers in Stephens, AR?
Mortgage rates in Stephens typically align with national averages but can be slightly higher due to the rural nature of the area. As of late 2024, you might expect rates around 6.5%-7% for a 30-year fixed mortgage, though this varies by lender and borrower qualifications. It's best to check with local Arkansas lenders like Simmons Bank or regional credit unions for the most accurate, personalized rates.
Are there any first-time homebuyer programs specifically available in Stephens?
Yes, the Arkansas Development Finance Authority (ADFA) offers its HomeToOwn program, which provides competitive fixed-rate mortgages and down payment assistance to eligible first-time homebuyers in Stephens. This program is particularly valuable given Stephens' affordable housing market, where down payment assistance can cover a significant portion of the purchase price. Local lenders participating with ADFA can help you apply.
How does Stephens' rural location affect the mortgage process and property requirements?
Stephens' rural setting may require additional steps, such as well and septic inspections instead of city water/sewer checks, which can influence loan approval. USDA loans are popular here since much of Stephens qualifies for USDA rural development loans, offering 100% financing. However, ensure the property meets USDA eligibility standards, including location and condition, which local real estate agents can help verify.
What types of properties are common in Stephens, and how do they impact loan options?
Stephens features many older homes, manufactured homes, and rural properties, which can affect loan eligibility. For example, FHA loans may require stricter inspections for older homes, while manufactured homes must meet HUD standards and be on a permanent foundation. Conventional loans work for updated properties, but it's wise to discuss property type with your lender early to avoid surprises.
Are property taxes and insurance costs in Stephens different from other parts of Arkansas?
Property taxes in Stephens and Ouachita County are generally lower than state averages, which can make monthly mortgage payments more affordable. However, homeowners insurance may be higher due to the area's exposure to weather risks like storms or flooding, so budgeting for insurance is crucial. Your lender can help estimate these costs to ensure your debt-to-income ratio stays within loan limits.
Why Choose a Mortgage Lender in Stephens?
Local Market Knowledge
Lenders who understand Stephens'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 Stephens and get competitive rates on your home loan.