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Arkansas Mortgage Rates
|Unlock Bank||2.25||5 Year ARM||Conforming||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.75||15 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3.25||30 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3.25||15 Year Fixed||Jumbo||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.375||5 Year ARM||Jumbo||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3.875||30 Year Fixed||Conforming||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.5||5 Year ARM||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||4||30 Year Fixed||Jumbo||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.625||15 Year Fixed||Conforming||0.7 to 3||Show Phone Number||Learn More|
By: Lisa Burden | September 14th, 2012
Borrowers continue to flock to the Federal Housing Administration streamline refinance program. Lenders refinanced more FHA mortgages in July than in June – about 42% more, according to government data. About 25,750 streamlined refinances closed in July, an increase over the 18,100 streamlined refinances closed in June. FHA endorsed almost 111,000 mortgages in July, up 21% from one year ago.
Arkansas presently has 7,652 active streamline refinances in force with a dollar amount of $800,922,164, according to government sources.
The FHA Streamline Refinance program drastically eliminates the amount of paperwork that has to be provided to the lender. The program’s requirements are minimal. A borrower does not have to demonstrate employment under an FHA Streamline Refinance. Income verification is not required and the borrower’s credit score is not checked.
But, borrowers must be current on their existing FHA mortgage and the refinance must show a legitimate reason for refinancing, i.e., “net tangible benefit.” One example of a net tangible benefit is refinancing from an adjusting ARM into a fixed rate loan and, of course, there’s always the benefit in lowering monthly mortgage payments by obtaining one of the super low interest rates available today. The streamline refinance does not allow for cash out. It is important to know that lender requirements may vary.
Borrowers are finding that obtaining a refinance through online resources is convenient. Instead of searching for a single lender to assist with an FHA Streamline Refinance, multiple lenders who are able to provide borrowers with more information about this program are available in one place. By submitting the online form, without the need of a social security number, a response is returned almost immediately.
FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at a standard 0.7 to 1% origination fee.
Latest HARP Mortgage News April 24th, 2014
Dems Re-Introduce Expanded HARP Refinance Bill; Arkansas Homeowners Could Benefit
By: Lisa Burden | September 13th, 2012
U.S. Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA), both Senate Democrats, re-introduced the “The Responsible Homeowner Refinancing Act of 2012” on September 10th. This bill would further expand the Home Affordable Refinance Program. According to a statement issued by … Continue reading
Arkansas Mortgage Rates: Mortgage Rates in Arkansas Are Finally Stable Following Recent Increases
By: Vanessa Rodriguez | January 28th, 2011
Last week mortgage backed securities prices dropped and slowing home construction in Arkansas abounded. As a result, mortgage rates increased slightly last week. This week, however, mortgage rates in Arkansas have remained relatively stable. Investor speculation with regards to re-pricing could cause another increase in mortgage rates in Arkansas in the near future. Continue reading