The Best Mortgage Lenders in Wabash, AR
Compare verified mortgage lenders serving Wabash, Arkansas. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Wabash
Featured Mortgage Lenders
Centennial Bank
Centennial Bank
Centennial Bank is a highly-rated regional lender with a strong presence in Eastern Arkansas, including service to Wabash. Founded in 1999, they offer personalized mortgage solutions with competitive rates and have built a reputation for reliability and exceptional customer service in rural communities. Their local branch in Helena-West Helena ensures accessible, in-person support for Phillips County residents.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and wide range of loan options. With nearly 30 years of experience, they actively serve the Wabash area through their Jonesboro office, offering competitive rates and dedicated local support. Their high customer satisfaction ratings and expertise in Arkansas mortgage markets make them a preferred choice.
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New American Funding
New American Funding
New American Funding is a nationally recognized mortgage lender with a strong track record of serving Arkansas borrowers, including those in Wabash. Founded in 2003, they offer diverse loan programs and focus on community outreach, with competitive rates and efficient online and phone services. Their high ratings reflect a commitment to customer satisfaction and accessibility for rural homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Wabash, AR
What are the current mortgage rates like for homes in Wabash, AR?
Mortgage rates in Wabash typically align with national averages but can be slightly higher due to the rural nature of the area and smaller local lender competition. As of 2024, you can expect rates around 6.5-7% for a 30-year fixed mortgage, but it's best to check with local Arkansas lenders like Arvest Bank or First National Bank of Lawrence County for the most accurate, personalized rates.
Are there any first-time homebuyer programs specific to Wabash or Arkansas that I should know about?
Yes, the Arkansas Development Finance Authority (ADFA) offers several programs like the ADFA Move-Up and HomeToOwn loans, which provide competitive interest rates and down payment assistance. These programs are available to Wabash residents and can be particularly helpful given the area's moderate income levels, making homeownership more accessible with as little as 1% down in some cases.
How does the rural location of Wabash impact the mortgage approval process?
Wabash's rural setting can sometimes lead to stricter appraisal requirements, as lenders may need to verify property values with fewer comparable home sales in the immediate area. It's advisable to work with a lender familiar with rural Arkansas properties to ensure a smooth process, as they'll understand how to properly assess land value and any agricultural or unique property features.
What types of properties in Wabash are eligible for USDA loans, and am I likely to qualify?
Most of Wabash qualifies for USDA rural development loans due to its population under 35,000, making many single-family homes eligible for $0 down payment financing. Income limits apply, but given Wabash's average household income, many residents qualify for these advantageous loans, which are ideal for the area's predominantly residential and agricultural properties.
Are property taxes in Wabash factored into mortgage calculations, and how do they compare to other Arkansas areas?
Yes, property taxes are included in your monthly mortgage escrow payments. Wabash, located in Phillips County, has relatively low property tax rates compared to urban areas in Arkansas, typically around 0.62% of assessed value. This can make your overall mortgage payment more affordable than in higher-tax counties, though you should verify exact rates with the Phillips County Assessor's office.
Why Choose a Mortgage Lender in Wabash?
Local Market Knowledge
Lenders who understand Wabash'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 Wabash and get competitive rates on your home loan.