Which mortgage lender in the Searcy, AR area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Searcy, AR area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and use data on all fixed rate mortgages that were closed in the past year to generate our rankings.
Going by historical data, the best mortgage lender in the Searcy, AR area in terms of interest rate is First Security Bank, with an average “Rate Difference” of -0.16%. This means that, comparing similar borrowers, First Security Bank provided a -0.16% lower interest rate for its customers than other lenders in the area. First Security Bank has a market share of 18.4%. It is the most popular lender in the Searcy, AR area.
Our detailed ranking of mortgage lenders in the Searcy, AR area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, going by historical data, the cheapest lender for Conventional mortgages in Searcy, AR is First Security Bank. If you want to take out a loan that is above conforming limits (above $548,250 or $822,375 depending on the area in 2021), the cheapest Jumbo mortgage provider is US Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is First Security Bank. The cheapest VA mortgage provider is also First Security Bank. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.
* Data is compiled for the Searcy, AR commuting zone area, which comprises of counties of Cleburne County, AR, Jackson County, AR, White County, AR, and Woodruff County, AR. This includes cities/towns/communities of Searcy, AR as well as Heber Springs, AR, Beebe, AR, Tumbling Shoals, AR, Diaz, AR, Quitman, AR, Rose Bud, AR, Judsonia, AR, Pangburn, AR, Concord, AR, McRae, AR, Greers Ferry, AR, Bald Knob, AR, Bradford, AR, Cotton Plant, AR, Swifton, AR, Amagon, AR, and Augusta, AR. Lenders must have made at least 30 loans in the area to be included. Source of the data is Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate conditional on the commuting zone, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.
