Home Loans In Fayetteville, Arkansas 

Welcome to Capital Home Mortgage Fayetteville. Fayetteville is the second-largest city in the state of Arkansas. Indeed, the city is a gem. The National Association of Realtors even named Fayetteville one of the “Hidden Gems” of the housing market for 2022.

Fayetteville is a beautiful city to raise a family or kick off a good start. Of course, you need to get settled first and find a house that you can call your home. Prices of homes differ, and not everyone has enough cash to pay the selling price right away. Now is the best time to think about getting a home loan.

Different Types of Home Loans in Fayetteville

Mortgages come in different forms. Let’s go through the everyday mortgage products in today’s market.

• Conventional Loans

These loans are well-suited for borrowers with good to excellent credit scores. At a minimum, a FICO score of 620 is required to qualify for a conventional loan. If you don’t have at least a 20% down payment, the lender will require private mortgage insurance to protect them from default. 

• FHA Loans

A loan insured by the Federal Housing Administration (FHA) gives more leeway for people with a not-so-good credit history. Depending on your available cash for a down payment, an FHA loan can cater to people with FICO scores down to 500. FHA home loans have an FHA mortgage insurance premium as part of the offering.

• VA Loans

Active-duty personnel, reservists, retired veterans, or surviving spouses can get a home loan from the U.S. Department of Veterans Affairs. A VA home loan caters primarily to military borrowers, offering more generous and compassionate VA loan terms. There are no loan limits, no imposed credit score requirements, and zero down payment required.

• USDA Loans

If you live in rural areas, the U.S. Department of Agriculture (USDA) can guarantee loans to people who are low to median-income earners. Like VA loans, USDA home loans don’t have loan limits and imposed credit score requirements. However, eligibility for a USDA loan will depend on your total household income and whether it is below the median household income in the area.

Fayetteville, Arkansas Mortgage Lender

Do you already know which type of home loan to get? Our mortgage experts at Capital Home Mortgage can help you browse through the various home loan programs available in detail. We pride ourselves on making your home buying experience as stress-free as possible. We want you to enjoy homeownership. 

As direct mortgage lenders, we control every touchpoint in the home loan process. This enables us to provide you with the best mortgage product to suit your needs. We’re also able to provide flexible underwriting and competitive interest rates. 

Find The Right Home Loan In Fayetteville 

Finding the right financing to secure your dream home in Fayetteville doesn’t have to be complicated. Partner with Capital Home Mortgage today to make it a reality. Give us a call now at (501) 588-7399 to get in touch with our experienced loan officers.

We’re happy to get you started with a quick, no-obligation quote for your Fayetteville home loan.