The Best Mortgage Lenders in Tilly, AR
Compare verified mortgage lenders serving Tilly, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tilly
Featured Mortgage Lenders
Mortgage Team
Arvest Bank
Arvest Bank is one of the most established and highly-rated mortgage lenders serving the Tilly area through their Russellville location. With over 60 years in banking and strong community presence across Arkansas, they offer comprehensive mortgage services with personalized local support. Their mortgage team receives exceptional reviews for guiding rural homebuyers through the entire process, offering competitive rates on USDA loans (particularly relevant for Tilly's rural location), FHA, VA, and conventional financing. Their long-standing reputation and commitment to Arkansas communities make them a top choice for Tilly area residents.
Loan Types:
Mortgage Department
Simmons Bank
Simmons Bank has been serving Arkansas communities for over a century and maintains a strong mortgage lending presence in the Russellville area that extends to Tilly and surrounding rural communities. They receive excellent ratings for their knowledgeable mortgage specialists who understand the unique needs of rural property financing. Simmons offers a full range of mortgage products with particular expertise in construction loans and USDA rural development loans, making them well-suited for Tilly's market. Their local decision-making process and competitive rates consistently earn high customer satisfaction ratings.
Loan Types:
Mortgage Center
First Security Bank
First Security Bank, while headquartered in Little Rock, actively serves mortgage customers throughout central Arkansas including the Tilly area. With over 90 years of banking experience, they've built a strong reputation for reliable mortgage lending with competitive rates and excellent customer service. Their mortgage team specializes in helping rural homebuyers navigate USDA loans and other government-backed programs ideal for Tilly residents. Customers consistently praise their responsive communication, smooth closing processes, and expertise with rural property financing. Their statewide presence ensures consistent service quality and local market knowledge.
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Frequently Asked Questions
Common questions about mortgage lending in Tilly, AR
What are the current average mortgage rates for homebuyers in Tilly, AR?
Mortgage rates in Tilly typically align with national averages but can be slightly lower due to the rural nature of the area. As of 2024, conventional 30-year fixed rates in Tilly generally range from 6.5% to 7.25%, though USDA loans often feature more competitive rates around 6.25% since Tilly qualifies for USDA rural development programs. Local lenders like Chambers Bank and Petit Jean Mortgage often offer the most competitive rates for the area.
Are there any special mortgage programs available specifically for Tilly residents?
Yes, Tilly homebuyers have access to several specialized programs including USDA Rural Development loans (which require no down payment) and the Arkansas Development Finance Authority's (ADFA) down payment assistance programs. Since Tilly is located in Perry County, which is designated as a rural area, many buyers qualify for USDA loans that aren't available in urban centers. The ADFA's HomeToOwn program provides up to $10,000 in down payment assistance for eligible buyers.
How does Tilly's rural location affect the mortgage approval process?
Tilly's rural setting can impact appraisals and property requirements, particularly for USDA loans which have specific property eligibility criteria. Lenders may require additional verification of property boundaries and well/septic systems since many homes in Tilly aren't connected to municipal utilities. The limited number of comparable home sales in the area can sometimes extend the appraisal timeline, so buyers should build extra time into their closing schedule.
What should first-time homebuyers in Tilly know about local mortgage options?
First-time buyers in Tilly should explore the ADFA's Mortgage Credit Certificate program, which provides a federal tax credit up to $2,000 annually. Many local lenders also offer special first-time buyer programs with reduced fees and more flexible credit requirements. Given Tilly's affordable housing market (median home price around $150,000), first-time buyers often find they need smaller down payments than in other Arkansas regions.
Are there any local property tax considerations that affect mortgages in Tilly?
Perry County has relatively low property tax rates compared to urban areas in Arkansas, typically ranging from 0.5% to 0.7% of assessed value. This means your monthly mortgage payment (including escrow) will be lower than in many other locations. However, lenders will still require thorough verification of tax records since some rural properties may have special agricultural or timberland assessments that affect their tax status.
Why Choose a Mortgage Lender in Tilly?
Local Market Knowledge
Lenders who understand Tilly'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 Tilly and get competitive rates on your home loan.