The Best Mortgage Lenders in Story, AR
Compare verified mortgage lenders serving Story, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Story
Featured Mortgage Lenders
Arvest Bank Mortgage
Arvest Bank
Arvest Bank is one of the most established and highly-rated regional lenders serving the Story, Arkansas area through their Hot Springs location. With over 60 years of banking experience and deep roots in Arkansas communities, they offer personalized mortgage services with competitive rates. Their USDA loan expertise is particularly valuable for rural properties in areas like Story. Customers consistently praise their local decision-making, responsive loan officers, and smooth closing process.
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Bank OZK Mortgage
Bank OZK
Bank OZK (formerly Bank of the Ozarks) has a strong presence throughout Arkansas with specialized expertise in rural and recreational property financing, making them an excellent choice for Story area homes. Their local Hot Springs branch serves Garland County with personalized mortgage services and competitive construction loan options. With deep community ties and extensive experience with Arkansas property types, they understand the unique needs of rural homebuyers in the Ouachita Mountain region.
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Academy Mortgage
Academy Mortgage Corporation
Academy Mortgage's Hot Springs office serves the Story area with exceptional customer service and highly competitive rates. As a mortgage-focused company rather than a full-service bank, they specialize exclusively in home loans, allowing for streamlined processes and expert guidance. Their strong USDA loan program is ideal for rural properties near Story, and customers consistently report excellent communication, local underwriting, and hassle-free closings. Their 4.9 rating reflects outstanding customer satisfaction across hundreds of Arkansas home purchases.
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Frequently Asked Questions
Common questions about mortgage lending in Story, AR
What are the current mortgage rates like in Story, AR, and how do they compare to state averages?
Mortgage rates in Story typically align with Arkansas state averages, which are often slightly below national rates due to the rural nature of the area. As of late 2024, you can expect rates around 6.5%-7% for 30-year fixed mortgages, but working with local lenders who understand Story's specific market can sometimes secure more competitive terms.
Are there any special loan programs available for buying rural property in Story?
Yes, Story's rural location makes USDA loans an excellent option, offering 100% financing with no down payment required for eligible borrowers. Additionally, the Arkansas Development Finance Authority (ADFA) offers down payment assistance programs that can be combined with these loans, making homeownership more accessible in this small community.
How does Story's location in the Ouachita National Forest affect the mortgage process?
Properties in Story may have unique considerations due to forest service land proximity and potential conservation easements. Lenders will typically require additional environmental assessments and may have specific requirements for properties with well and septic systems, so it's important to work with a lender experienced in rural Arkansas properties.
What should I know about property taxes when getting a mortgage in Story?
Story residents benefit from relatively low property taxes compared to urban areas in Arkansas, with Montgomery County rates typically around 0.62% of assessed value. Your lender will help you estimate these costs for escrow, but the rural nature and limited municipal services contribute to these favorable tax rates.
Are there any local first-time homebuyer programs specifically for Story residents?
While Story itself doesn't have city-specific programs, the Arkansas ADFA's HomeToOwn program is widely available and particularly beneficial for Story buyers. This program offers competitive interest rates, down payment assistance, and mortgage credit certificates that can save thousands on federal income taxes, making it ideal for first-time buyers in this area.
Why Choose a Mortgage Lender in Story?
Local Market Knowledge
Lenders who understand Story'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 Story and get competitive rates on your home loan.