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10 Best Arkansas Mortgage Lenders of 2021
Here are NerdWallet's 10 best mortgage lenders in Arkansas, whether you're looking for low refinance rates or are shopping for a new home.
Mar 7, 2023
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These Arkansas mortgage lenders do a lot of business in the state and provide a range of home loan options, including government-backed loans, such as FHA and VA mortgages, and loans geared to first-time home buyers.
Use this list to guide your search for a lender that serves your unique needs and situation.
Best Arkansas Mortgage Lenders
Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | National / regional ▾ ▾ | Learn more |
|---|---|---|---|---|---|
4.5/5 Best for first-time home buyers | 660 | 5% | National | ||
3.5/5 Best for borrowers with credit challenges | 620 | 3% | National | ||
4.5/5 Best for borrowers with credit challenges | 620 | 5% | National | ||
 Fairway Independent Mortgage: NMLS#2289 Learn moreat Fairway Independent Mortgageat Fairway Independent Mortgage | 3.5/5 Best for FHA loans | 580 | 3.5% | National | Learn moreat Fairway Independent Mortgageat Fairway Independent Mortgage |
3.5/5 Best for first-time home buyers | 620 | 3% | Regional | ||
3.5/5 Best for FHA loans | 520 | 3.5% | National | ||
4.5/5 Best for VA loans | N/A | 0% | National | ||
4.5/5 Best for online convenience | 620 | 3% | National | Learn moreat Rocket Mortgage, LLCat Rocket Mortgage, LLC | |
4.0/5 Best for VA loans | 620 | 0% | National | ||
4.5/5 Best for online convenience | 620 | 3% | National |
Bank of America: NMLS#399802
Min. credit score
660
Min. down payment
5%
National / regional
National
Why We Like ItGood for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit.
Pros
- Offers down payment and closing cost assistance programs.
- May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Doesn't offer renovation loans that roll costs into a mortgage.
Why We Like ItGood for: first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
- Offers extensive educational resources for military borrowers.
- Participates in some down payment assistance and first-time home buyer programs.
Cons
- No mortgage rates displayed online.
- Doesn’t offer home equity loans or lines of credit.
Why We Like ItGood for: first-time home buyers or credit-challenged borrowers interested in government loan products.
Pros
- Offers multiple low-down-payment loan programs.
- May consider alternative credit data, such as bank statements.
- You can view customized rates for purchasing a home and apply online.
Cons
- Doesn't offer home equity lines of credit.
- Lender fees are on the high side, according to the latest federal data.
Learn moreat Fairway Independent Mortgageat Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289
Min. credit score
580
Min. down payment
3.5%
Learn moreat Fairway Independent Mortgageat Fairway Independent Mortgage
Why We Like ItGood for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans.
Pros
- Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Mortgage rates for different types of loans aren't posted online.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
Why We Like ItGood for: borrowers who value customer service, and first-time home buyers and others who may need the flexibility of a low-down-payment loan program.
Pros
- Offers a wide variety of loan products, including home improvement loans and mortgages for manufactured homes.
- Has retail branches in most states.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Does not offer home equity loan products.
- Origination fees tend to be higher, according to the latest federal data.
Why We Like ItGood for: borrowers who want an easy online application and a variety of loan types to explore.
Pros
- Has branches across the country for customers who prefer face-to-face service.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Mortgage interest rates tend to be on the lower end, according to the latest federal data.
Cons
- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Doesn't offer home equity loans or lines of credit.
Why We Like ItGood for: military members and their families looking for low-down-payment mortgages.
Pros
- Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.
- Offers HELOCs and home equity loans.
- Offers low rates compared with most lenders, according to the latest federal data.
Cons
- Website does not provide customized mortgage rates based on credit score or other factors before you apply.
- Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.
Learn moreat Rocket Mortgage, LLCat Rocket Mortgage, LLC
Learn moreat Rocket Mortgage, LLCat Rocket Mortgage, LLC
Why We Like ItGood for: borrowers who appreciate a fully digital home loan experience with mortgage rates lower than other lenders’.
Pros
- Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
- Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.
- Offers the option to work with loan officers by phone if desired.
Cons
- Getting a customized interest rate requires a credit check, which can affect your credit score.
- Doesn't offer home equity lines of credit.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
Why We Like ItGood for: veterans, active-duty service members and eligible reservists looking for VA loans.
Pros
- Offers 24/7 customer service over the phone.
- Offers a free credit counseling service.
- Mortgage rates are on the low side, according to the latest federal data.
Cons
- Doesn’t offer home equity loans or HELOCs.
- Veterans United doesn't have branch offices in every state.
Why We Like ItGood for: existing customers of the bank looking for a wide selection of mortgage products.
Pros
- Sample rates clearly posted for various loan products.
- Offers a wide variety of loan types and products.
- Mortgage rates tend to be on the low side compared with other lenders, according to the latest federal data.
Cons
- Home loans business is broadly focused on bank customers.
- Doesn’t offer home improvement loans, or home equity loans or lines of credit.
- Scandals and government actions have damaged consumer trust in recent years.
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Last updated on March 7, 2023
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
NerdWallet's Best Arkansas Mortgage Lenders of 2021
- Bank of America: Best for first-time home buyers
- Caliber: Best for borrowers with credit challenges
- Carrington: Best for borrowers with credit challenges
- Fairway Independent Mortgage: Best for FHA loans
- Guild Mortgage: Best for first-time home buyers
- loanDepot: Best for FHA loans
- Navy Federal: Best for VA loans
- Rocket Mortgage, LLC: Best for online convenience
- Veterans United: Best for VA loans
- Wells Fargo: Best for online convenience
