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.
Last updated on January 20, 2021
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Lead Assigning EditorFact Checked
Fact Checked
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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.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
10 Best Arkansas Mortgage Lenders of 2021
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Lender â–¾ â–¾ | NerdWallet Rating â–¾ â–¾ | Min. credit score â–¾ â–¾ | Min. down payment â–¾ â–¾ | Learn more |
|---|---|---|---|---|
620 | 1% | Learn more at Rocket Mortgage, LLC | ||
 Fairway Independent Mortgage: NMLS#2289 Learn more at Fairway Independent Mortgage | 580 | 3.5% | Learn more at Fairway Independent Mortgage | |
 loanDepot: NMLS#174457 LEARN MORE on NerdWallet | 520 | 3.5% | LEARN MORE on NerdWallet | |
 Bank of America: NMLS#399802 LEARN MORE on NerdWallet | 660 | 5% | LEARN MORE on NerdWallet | |
 Carrington: NMLS#2600 LEARN MORE on NerdWallet | 620 | 5% | LEARN MORE on NerdWallet | |
 Caliber: NMLS#15622 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
620 | 0% | Learn more at Veterans United | ||
 Navy Federal: NMLS#399807 LEARN MORE on NerdWallet | N/A | 0% | LEARN MORE on NerdWallet | |
 Wells Fargo: NMLS#399801 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Guild Mortgage: NMLS#3274 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet |
Learn more
at Rocket Mortgage, LLC
Rocket Mortgage, LLC: NMLS#3030
4.0
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
1%
Why We Like ItGood for: FHA borrowers and others short on down payment cash, as well as home buyers who value convenience over low fees.
Pros
- Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
- Offers the option to work with loan officers by phone if desired.
- Largest FHA lender in the nation.
Cons
- Getting a customized interest rate requires a credit check, which can affect your credit score.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
- Doesn't offer home equity lines of credit.
Learn more
at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289
4.0
FHA loans
NerdWallet ratingMin. credit score
580
Min. down payment
3.5%
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.
LEARN MORE
on NerdWallet
Why We Like ItGood for: borrowers who want a lender with deep experience in FHA lending.
Pros
- Was among the top five lenders by volume for FHA lending in 2022, according to the latest federal data.
- Online loan calculator lets borrowers compare monthly payments and lifetime interest.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Origination fees for FHA loans tend to be on the high end, according to the latest federal data.
LEARN MORE
on NerdWallet
Bank of America: NMLS#399802
4.0
Home loans overall
NerdWallet ratingMin. 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 or construction-to-permanent mortgage loans.
- Must enroll in online banking to access Home Loan Navigator.
- Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
LEARN MORE
on NerdWallet
Why We Like ItGood for: credit-challenged borrowers interested in government loan products or borrowers with nontraditional credit histories.
Pros
- Offers multiple low-down-payment loans.
- Accepts history of bankruptcy, foreclosure and late payments with flexible loan program.
- Considers borrowers with low credit scores and high debt-to-income ratios.
Cons
- Fined $5.25 million for misleading customers about pandemic-era payment relief.
- Doesn't offer home equity lines of credit.
- Lender fees are on the high side, according to the latest federal data.
LEARN MORE
on NerdWallet
Why We Like ItGood for: first-time home buyers, self-employed borrowers and those who may have credit challenges to overcome.
Pros
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Offers financial assistance, such as grants for down payments or closing costs, to first-time home buyers who qualify.
- Supports military borrowers with extensive online resources and dedicated VA loan specialists.
Cons
- No mortgage rates displayed online.
- Room to improve overall digital experience: No online chat for customer service, and mobile app has poor ratings and reviews.
- Doesn't offer home equity loans or lines of credit.
Learn more
at Veterans United
Why We Like ItGood for: veterans, active-duty service members and eligible reservists looking for VA loans.
Pros
- Largest VA lender in the country by far.
- Offers 24/7 customer service over the phone.
- Offers a free credit counseling service.
Cons
- Does not offer second mortgage options like home equity loans or HELOCs.
- Borrower must provide contact info for customized rates.
LEARN MORE
on NerdWallet
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 MORE
on NerdWallet
Wells Fargo: NMLS#399801
4.0
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItGood for: existing customers of the bank looking for a wide selection of mortgage products, as well as self-employed borrowers and home buyers without Social Security numbers.
Pros
- Sample rates clearly posted for various loan products.
- Offers a wide variety of loan types and products, including options for borrowers who work for themselves and those without Social Security numbers.
- 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.
LEARN MORE
on NerdWallet
Guild Mortgage: NMLS#3274
3.0
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
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 options, including home improvement loans and mortgages for manufactured homes.
- Has branches in most states.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Origination fees and mortgage rates tend to be on the high side, according to the latest federal data.
- Mortgage rates are not published online.
- Mobile app receives mostly negative reviews from users.
More from NerdWallet:
Last updated on January 20, 2021
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
- Rocket Mortgage, LLC: Best for online convenience
- Fairway Independent Mortgage: Best for FHA loans
- loanDepot: Best for FHA loans
- Bank of America: Best for first-time home buyers
- Carrington: Best for borrowers with credit challenges
- Caliber: Best for borrowers with credit challenges
- Veterans United: Best for VA loans
- Navy Federal: Best for VA loans
- Wells Fargo: Best for online convenience
- Guild Mortgage: Best for first-time home buyers
