Finding a mortgage loan in Arkansas tougher than you thought? Tired of WebPages that don’t help you find what you are looking for? That is why Mortgage-Info.us is here. Whether you are looking for lenders, Mortgage Rates, or Mortgage Brokers – we’ve got it. Plus when you fill out a custom mortgage quote form from Mortgage-Info.us, you will get offers from 2-4 different lenders competing for your business. That means you will get the best rate based on your current situation.
Featured Mortgage Lenders in Arkansas
Arkansas Mortgage Quick Facts
Arkansas State Population: 2,752,629*
Median Arkansas Home Price: $72,800*
Arkansas Home Ownership Rate: 69.4%*
Avg. Arkansas Consumer Credit Score: 669
Types of Mortgage Loans Available in Arkansas
There are many Mortgage loans you can apply for in Arkansas depending upon your needs. Common loans you might be able to apply for in Arkansas are:
- Fixed Rate Mortgage Loans
- ARM loans
- Interest only Mortgage loans
- LIBOR Mortgage Loans
- Cash Out Mortgage Loans
- Refinance Mortgage Loans
- Second Mortgage Loans
- Home Purchase Mortgage Loans
- Home Equity Loan
- Reverse Mortgage Loans
- HELOC Mortgage Loans
How Your Credit Score Affects Your Mortgage Rate
To start, you need to know what your current credit score is. You should compare that against the average Arkansas consumer credit score (669), and the national average credit score (677). Your credit score impacts what your home mortgage rate will be. Historically home mortgage rates have varied from 5% to over 13%. Mortgage Lenders create their home mortgage rates by using the Federal Discount Interest Rate and then increase it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, but your credit score is a very important factor – so get a few quotes.
What is your credit score?
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Arkansas Mortgage State Laws
Arkansas (AR) Foreclosure
Lenders may foreclose using judicial or non-judicial foreclosure processes.
The property must be appraised before the date of foreclosure.
In both types of foreclosure, the property may not be sold for less than two thirds of its appraisal value. If no bid is made for such a price, the property will go up for auction again within one year. At that time, the highest bid will be observed, regardless of its percentage to the appraisal value.
In judicial foreclosure, the court gives the borrower a specified and short amount of time to pay. If the borrower does not pay within this time frame, the property will be sold.
The lender may bid on the property using a credit in the amount the court decided was owed to the lender. If the property still does not sell for the amount due to the lender, the lender may seize other property from the borrower.
White Collar Crime Supervisor
Two Financial Centre, Suite 200
10825 Financial Centre Parkway
Little Rock, AR 72211-3552
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.