Compare today's rates for Mortgage Refinance in AR
Mortgage rates for Arkansas on Lender411 for 30-year fixed-rate mortgages are at 3.98%. That increased from 3.75% to 3.98%. The 15-year fixed rates are now at 3.18%. The 5/1 ARM mortgage for Arkansas is now at 3.08%.
If you are looking for up to the minute Arkansas mortgage rates, you’ve come to the right place. Finding the lowest rates is easy when you have access to our vast network of trusted mortgage professionals in Arkansas. Talk to multiple mortgage lenders in AR to compare rate quotes and understand your options.
Why is it critical to find the lowest rate when refinancing? Simply put, this is the entire goal of a refinance. The lower your new rate, the more money you’ll save. While there are many ways to secure a refinance loan, the best option is the no cost refi, which allows you to switch to a new mortgage with a lower rate without paying the fees associated with closing a new loan. This can literally save you thousands of dollars.
The loan types available in Arkansas are much like those available elsewhere. One of the most widely available mortgage loan types is the 30 year fixed rate mortgage. As the name implies, this loan comes with a fixed interest rate. This is considered the most financially sound mortgage by many borrowers. Some opt for the 15-year fixed option.
The adjustable rate mortgage (ARM) is another common loan type. You can also pursue a jumbo loan, interest-only loan, balloon mortgage, or other specialized loan type. Whether or not one of these loans fits you will depend entirely on your needs and the requirements of your lender. Government backed loans, such as the FHA loan and the VA loan, are available to those who qualify.
Arkansas is a great place to call home in the South, though some would consider it a part of the "old southwest". The capital, which is also the most populated city, is Little Rock. This area of the state is a major economic hub for the region and an affordable place to live. Other major cities include Fort Smith and Fayetteville.
The climate in Arkansas is humid and subtropical. The state is a great place for outdoor activities as well as antique shopping and historical site seeing. Arkansas has 17.2 million acres of forest land and is known as The Natural State. A good deal of its tourism is due to all of the lakes, mountains, rivers, and parks that are prevalent throughout the state.
To learn more about homeownership in Arkansas or research AR home buying programs, visit the Arkansas HUD portal.
If you want to keep researching your options, follow the links below to learn more about mortgage available in the state.