The Best Mortgage Lenders in Texarkana, AR
Compare verified mortgage lenders serving Texarkana, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Texarkana
Featured Mortgage Lenders
Eagle Bank and Trust
Eagle Bank and Trust
Eagle Bank and Trust is a locally-owned community bank that has served the Texarkana area for over two decades, earning exceptional ratings for personalized service and local decision-making. As a hometown lender, they understand the specific needs of ArkLaTex residents and offer competitive rates with the flexibility of local underwriting. Their mortgage team provides comprehensive guidance through the entire home financing process, from pre-approval to closing, with particular expertise in first-time homebuyer programs and construction loans. The bank maintains strong community ties and consistently receives praise for their responsive communication and commitment to customer satisfaction.
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Regions Mortgage
Regions Bank
Regions Bank maintains a strong physical presence in Texarkana with multiple branches and a dedicated mortgage team serving the local community. As a regional banking leader with deep roots in Arkansas, they offer competitive mortgage products including specialized programs for military families and first-time homebuyers. Their local loan officers provide personalized service with the backing of a substantial financial institution, allowing for streamlined processing and competitive rate options. Customers consistently praise their professional guidance through complex mortgage scenarios and their ability to close loans efficiently while maintaining clear communication throughout the process.
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Guild Mortgage
Guild Mortgage Company
Guild Mortgage operates a dedicated Texarkana office that serves both the Arkansas and Texas sides of the metropolitan area, earning outstanding ratings for their specialized mortgage expertise and customer-focused approach. While headquartered elsewhere, their local team has deep community knowledge and extensive experience with the unique aspects of the border city real estate market. They excel in government-backed loans, particularly VA and FHA programs, and are recognized for their educational approach that helps borrowers understand all available options. Their streamlined digital process combined with local, in-person service creates an optimal balance for modern homebuying needs in the Texarkana region.
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Frequently Asked Questions
Common questions about mortgage lending in Texarkana, AR
What are the current average mortgage rates for homebuyers in Texarkana, AR?
Mortgage rates in Texarkana typically align with national averages but can be slightly lower due to the area's lower cost of living. As of recent data, 30-year fixed rates generally range from 6.5% to 7.25%, though local credit unions like Texarkana Federal Credit Union often offer competitive rates. It's best to check with multiple local lenders as rates can vary based on your credit profile and loan type.
Are there any first-time homebuyer programs specifically available in Texarkana, AR?
Yes, the Arkansas Development Finance Authority (ADFA) offers several first-time homebuyer programs accessible to Texarkana residents, including down payment assistance and favorable mortgage rates. Additionally, some local lenders may have their own first-time buyer incentives. These programs can be particularly beneficial given Texarkana's affordable housing market compared to larger Arkansas cities.
How does living on the state border affect my mortgage options in Texarkana?
Texarkana's unique border location means you can choose lenders from either Arkansas or Texas, potentially expanding your options. However, property taxes, insurance requirements, and some closing costs may differ depending on which side of the border you purchase. It's crucial to work with a lender experienced in cross-border transactions to navigate these nuances effectively.
What special considerations should I know about property taxes when getting a mortgage in Texarkana, AR?
Miller County property taxes in Texarkana are generally lower than national averages, currently around 0.62% of assessed value. However, your lender will still factor these into your monthly escrow payments. It's important to get an accurate tax estimate during pre-approval, as property taxes can affect your debt-to-income ratio and overall mortgage qualification.
Are USDA loans a good option for homebuyers in Texarkana, AR?
Yes, USDA loans are excellent options for many Texarkana homebuyers since much of the surrounding area qualifies as rural under USDA guidelines. These loans offer 100% financing with competitive rates, making homeownership more accessible. Given Texarkana's mix of urban amenities and rural characteristics, many properties just outside the city limits remain eligible for this beneficial program.
Why Choose a Mortgage Lender in Texarkana?
Local Market Knowledge
Lenders who understand Texarkana'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 Texarkana and get competitive rates on your home loan.