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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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.
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- 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 ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | 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 Compare More Lenders on NerdWallet | 520 | 3.5% | Compare More Lenders on NerdWallet | |
 Bank of America: NMLS#399802 Compare More Lenders on NerdWallet | 660 | 5% | Compare More Lenders on NerdWallet | |
 Carrington: NMLS#2600 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Caliber: NMLS#15622 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
620 | 0% | Learn more at Veterans United | ||
 Navy Federal: NMLS#399807 Compare More Lenders on NerdWallet | N/A | 0% | Compare More Lenders on NerdWallet | |
 Wells Fargo: NMLS#399801 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Guild Mortgage: NMLS#3274 Compare More Lenders on NerdWallet | N/A | 3% | Compare More Lenders on NerdWallet |
Learn more
at Rocket Mortgage, LLC
Rocket Mortgage, LLC: NMLS#3030
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
1%
Why We Like ItRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.
Pros
- Reported average time to close is 15 days faster than industry average.
- FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
- Borrowers can apply via mobile app.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- No construction or renovation loans.
- Physical branches are only available in Detroit, Cleveland, and Phoenix.
Learn more
at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289
3.5
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.
Compare More Lenders
on NerdWallet
Why We Like ItWorking with LoanDepot partners offers the potential for a streamlined mortgage process and cash back, and the lender offers a wide variety of FHA loan types.
Pros
- Offers a variety of repayment terms for fixed-rate loans.
- Does a substantial amount of business in FHA lending.
- mello smartloan product can streamline mortgage application, appraisal and title search.
Cons
- Interest rates are not available on the website.
- Can't apply for a mortgage on the lender's mobile app.
Compare More Lenders
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 ItBank of America offers low interest rates, in-person service and plenty of loan options, but it was fined by regulators for reporting inaccurate mortgage data.
Pros
- Interest rates are lower than most lenders, according to the latest federal data.
- Offers up to $10,000 in down payment assistance to qualified borrowers.
- Banking customers can get discounted interest rates or fees.
Cons
- Mortgage origination fees are on the high side, according to the latest federal data.
- Rate estimator tool doesn’t personalize by credit score.
- Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
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on NerdWallet
Why We Like ItCarrington Mortgage offers loans for people who might have trouble qualifying for a mortgage elsewhere, like self-employed borrowers or those with heavy debt. However, its interest rates are on the high side.
Pros
- Considers borrowers with bad credit, foreclosure or bankruptcy.
- Accepts self-employed borrowers.
- Mortgage origination fees are on the low side, according to the latest federal data.
Cons
- Interest rates are on the high side, according to the latest federal data.
- Doesn’t post interest rates online.
- No online chat for customer service.
Compare More Lenders
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 ItVeterans United is the largest VA loan originator in the country by far, according to the latest federal data.
Pros
- Specializes in working with military borrowers.
- Offers VA refinancing.
- Sample interest rates are posted online.
Cons
- Interest rates are on the higher end compared to other VA lenders.
- Does not offer VA renovation loans.
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on NerdWallet
Why We Like ItNavy Federal Credit Union stands out for having exceptionally low VA interest rates and fees.
Pros
- Best-scoring VA lender for interest rates and fees.
- Offers VA refinancing.
- Specializes in working with military borrowers.
Cons
- Does not offer VA renovation loans.
Compare More Lenders
on NerdWallet
Wells Fargo: NMLS#399801
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItWells Fargo has significant upsides and shortcomings. Sample rates are easy to view, assistance programs may apply and the lender earns solid scores in our rankings, but its consumer trust track record is rough.
Pros
- Sample rates are shown for various loan products, along with the type of borrower and loan that would get them.
- Offers generous down payment and closing cost assistance programs for qualified borrowers.
- Market leader in number of jumbo loans and refinances originated, according to the latest federal data.
- Rate-and-term refinance interest rates offered are lower than average, according to the latest federal data.
Cons
- Home loans business is broadly focused on existing bank customers.
- Doesn’t offer specialty home loans or equity borrowing (home equity loans or HELOC).
- Scandals and government actions have damaged consumer trust in recent years.
Compare More Lenders
on NerdWallet
Guild Mortgage: NMLS#3274
4.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
3%
Why We Like ItGuild offers a number of loans and programs that stand out, including renovation loans and home equity products. However, Guild does not have a mobile app, and interest rates aren’t published online.
Pros
- Offers several programs to make homeownership more accessible.
- Offers loans for manufactured homes.
- Renovation loan options are available.
Cons
- Does not publish interest rates online.
- No mortgage mobile app.
- Loans are not available in every state.
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
