See Mortgage Rate Quotes for Your Home
By clicking "See Rates" you'll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness you may be matched with up to five different lenders.
|Lender||Best For||Min. Credit Score||Highlights|
|Arvest Bank||First-Time Homebuyers||620|
|Guaranteed Rate||Online Loans||620|
|Simmons Bank||Poor Credit||580|
If you're shopping for a home in the land of opportunity, it's a good idea to cross-shop home loans across multiple mortgage lenders. Depending on the cost of your future home, minor rate differences can add up to thousands of dollars in interest over the life of your loan. Start comparing lenders in Arkansas by entering your details into the quote box below, or read about our top picks by clicking on the name of a lender.
Best Mortgage Lender for First-Time Home Buyers: Arvest Bank
As the leading mortgage lender in Arkansas, Arvest Bank is an excellent choice for home buyers seeking experienced in-person consultations. It's also an Arkansas Development Finance Authority-approved lender, which allows it to offer down payment credits to qualifying first-time home buyers in Arkansas.
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Arvest services 99% of its loans in-house, which means you can avoid any headache caused by third-party loan servicers. This emphasis on quality control has resulted in only eight complaints reported through the Consumer Financial Protection Bureau over the past five years. To put that into perspective, Wells Fargo registered 92 complaints over the same period, making Arvest the clear winner when it comes to customer service.
Arvest holds the largest branch network in Arkansas, with 141 locations throughout the state. It's also the state's most popular mortgage lender, having originated over 46,700 residential mortgages over the past five years. That's over double the volume of its closest competitor. If Arvest isn't the right bank for you, take a look at our other national recommendations for first-time home buyers.
Best Mortgage Lender for Refinancing: Quicken Loans
We chose Quicken Loans as the best lender for homeowners seeking to refinance their existing mortgage, thanks to the speed and efficiency of its Rocket Mortgage program. It's also the fastest-growing lender among Arkansas' five most popular mortgage companies, according to data obtained from S&P.
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Quicken Loans refinanced more than 10,000 mortgage loans over the past five years; it's also quickly gaining popularity as both a VA and FHA lender. Although it doesn't offer home equity financing, Quicken makes up for it with its wide range of conventional, reverse and streamlined refinancing options. Homeowners refinancing through Quicken can also structure their new mortgage into any term they want between eight and 29 years, which is a level of flexibility that's rarely offered by other lenders.
If you have any doubts about whether an online mortgage lender can offer services comparable to a traditional brick-and-mortar lender, you need not worry, as Quicken Loans received J.D. Power's highest rating in customer satisfaction for eight years in a row. The fact that it's one of America's fastest-growing lenders makes it worth getting a quick quote from Quicken.
Best Online Mortgage Lender: Guaranteed Rate
Guaranteed Rate is an excellent choice for borrowers with great credit and low debt-to-income ratios. The Chicago-based online lender offers competitive rates for those who qualify. It also performed exceptionally well when it came to customer service.
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Compared to the many online mortgage lenders available in the state, Guaranteed Rate is the best option for Arkansas home buyers who want to explore different loan types with affordable rates. By entering a few details into Guaranteed Rate's website, you can get preliminary rate quotes for almost a dozen different mortgage products, making it easier for borrowers to compare different loans in one place.
Guaranteed Rate also obtained one of the lowest ratios of complaints to loan originations in the mortgage market, registering complaints for just 0.04% of all loans originated over five years. By contrast, 2.4% of all Bank of America mortgages originated over the same period recorded complaints at the Consumer Financial Protection Bureau.
Best Mortgage Lender for VA Loans: USAA
We've selected USAA as our top Arkansas lender for VA loans because it specializes in helping service members and boasts exceptional customer service ratings. It also offers borrowers access to a private network of real estate agents, dedicated to helping veterans find homes.
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Even though USAA doesn't offer the lowest rates around, membership with USAA grants you access to a solid network of loan officers and real estate agents. The agents specialize in helping veterans and active service members find homes. On top of this, if you purchase or sell a home through its realtor network, USAA can grant you up to $24,000 in cash back depending on the sale price of the property.
USAA makes an excellent one-stop shop for military personnel stationed at Fort Smith and Pine Bluff; it's also the most popular VA lender in the state that is specifically focused on lending to veterans. If you're shopping for a VA loan, it's a good idea to check where current VA rates are, so you're equipped to compare multiple rate quotes.
Best Mortgage Lender for Poor Credit: Simmons Bank
Simmons Bank is a good choice if you have low-to-moderate income or otherwise have trouble qualifying for a conventional mortgage loan. Simmons originated almost 1,500 FHA loans over the past five years, making it one of the top five FHA lenders in Arkansas.
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Simmons Bank is an Arkansas Development Finance Authority-approved lender (ADFA), which allows it to offer state-sponsored down payment and closing cost credits for qualifying home buyers. Simmons Bank can help borrowers qualify for grants of up to 4% to help cover closing costs. It also offers dollar-for-dollar mortgage tax credits for first-time and low-to-moderate income home buyers.
Simmons is the second most popular mortgage lender in Arkansas, and has 86 branches located throughout the state. This makes it easy for prospective home buyers to drop in and obtain a quick rate quote. You can even prequalify for a mortgage through its website by entering a few key details about your financial background. If you're unsure whether Simmons Bank is right for you, take a look at our other top national recommendations for FHA lenders.
Most Popular Home Loan Companies in Arkansas
If you're shopping for a mortgage in Arkansas, it's a good idea to use these companies to compare quotes, as they will likely be at, or close to, the average market rate. Keep in mind that these lenders may not have been selected among our top picks, as we compared each lender holistically on a number of factors. We've cited the five most popular mortgage lenders in Arkansas below, based on the total number of residential home loans originated over the past five years.
Top 5 Biggest Arkansas Residential Mortgage Lenders, 2013–2018
|Rank||Company||Mortgage originations||Average mortgage amount|
|3||First Security Bank||16,085||$171,430|
Make sure you review each lender by comparing its record for customer service and any unique features it offers in addition to interest rates. When buying a home, remember to consider any other factors buying a home that matter to you that may not have been covered in our reviews.
How We Chose the Best Mortgage Lenders in Arkansas
While interest rates played a large role in our decision, we also reviewed each lender's unique terms and fees. When interest charges, fees and closing costs were viewed side by side, lenders who otherwise offered the same rate ended up thousands of dollars apart. This complexity explains why we rated lenders on multiple criteria:
- Total cost: interest rates and closing costs
- Product: terms, programs and specialty
- Servicing: transparency, complaint data and branch network
The quality of a lender's customer service required more in-depth analysis. We highlighted any unique terms a lender offered that were not common in the industry. For example, while almost every mortgage company offers conventional fixed-rate mortgages, fewer companies specialize in niche financing programs like USDA or FHA loans. We chose to emphasize these lenders where applicable.
We looked at customer service records and complaints from the Consumer Financial Protection Bureau to forecast the likelihood of issues arising during the lending process. We also evaluated the size of each lender's branch network as well as the depth of its online lending platform, which helped us measure accessibility. These points further influenced our picks when it came to customer service.
Mortgage Brokers Near Me in Arkansas
Mortgage brokers shop for home loans on your behalf and are an excellent resource for first-time home buyers unfamiliar or uncomfortable with shopping for home loans. They're worth considering if you're having trouble qualifying for a mortgage on your own. Take a look at the table below to find a mortgage broker near you.
|Citywide Professional Lending, Inc.||650 S. Shackleford Rd. #400, Little Rock, Ark. 72211||(501) 975-3575|
|NwaLending.com||2829 Hyland Park Rd., Fayetteville, Ark. 72701||(479) 841-6610|
|Central Arkansas Finance||939 Locust St., Conway, Ark. 72034||(501) 932-0209|
|First Arkansas Mortgage Co.||5606 J.F.K. Blvd., North Little Rock, Ark. 72116||(501) 771-4488|
|Nosari Home Mortgage||1001 Hwy 62 E. Mountain Home, Ark. 72653||(870) 425-8351|
|First Arkansas Financial, Inc.||7067, 906 S. Rock St., Sheridan, Ark. 72150||(870) 942-5050|
|Union Home Mortgage||118 E. 2nd St., Russellville, Ark. 72801||(479) 264-3099|
|Westerman Mortgage||1401 Malvern Ave. Ste. 110, Hot Springs, Ark. 71901||(501) 781-0028|
|ENG Lending Inc.||1602 S. Pine St., Cabot, Ark. 72023||(501) 941-1647|
|The Carroll Mortgage Group, Inc.||9101 N. Rodney Parham Rd. #1, Little Rock, Ark. 72205||(501) 228-9797|