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Best Mortgage Refinance Companies in Fort Smith, AR

Our Recommended Top 3

We did the research for you!

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Our goal is to connect people with the best local professionals. We scored Fort Smith Mortgage Refinance Companies on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

48Reviewed

30Curated

3Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Fort Smith, AR
WebsiteLicense: 2220721

Expertise.com Rating

Review Sources

Google
5.0 (12)

Why choose this provider?

Infinity Home Loans, LLC, is a mortgage company serving both home purchasers and residential property owners in Fort Smith with refinancing needs. It provides financing for a variety of purposes, such as cash-out and rate-term refinance, investment property, second home, and primary residence. Other loan options include USDA-RD for low to moderate-income families buying in particular rural areas and VA for qualified veterans, military service members, and their spouses. Its mortgage loan officer has been working in the financial industry for more than 10 years.

  • Reverse Mortgages

2829 E Hyland Park Road, Fayetteville, AR 72701
WebsiteLicense: 995763

Expertise.com Rating

Why choose this provider?

For over 20 years, NWA Lending has been helping Fort Smith residents with their home loan purchase needs. It provides refinancing solutions for borrowers seeking to lower their monthly payments or shorten their mortgage terms. Its loan officers assist clients in obtaining cash from their home's equity to finance improvement projects or pay off debts. They cater to first-time homebuyers and self-employed people with low credit scores. The company, owned by a local Arkansas bank, partners with multiple lenders to offer different loan options.

  • New Construction

3400 S 70th, Suite D, Fort Smith, AR 72903
WebsiteLicense: 1553256

Expertise.com Rating

Review Sources

Facebook
4.8 (28)

Why choose this provider?

Bank of England Mortgage serves the refinancing needs of residential property owners in Fort Smith. Its refinancing options include FHA Streamline, conventional, USDA, VA, and construction loans. The company has been in business for over 100 years. It leverages its national mortgage banking capabilities to finance a wide array of loan products while delivering down-home service by being available day or night to address client questions and concerns. Bank of England Mortgage also offers loans for homebuyers, such as Jumbo and bank statement loans.

  • Reverse Mortgages

Compare our Top Mortgage Refinance Companies

NameExpertise RatingAddressPromotionsLearn more
Infinity Home Loans LLC
Fort Smith, AR
NWA Lending
2829 E Hyland Park Road, Fayetteville, AR 72701
Bank of England Mortgage Fort Smith
3400 S 70th, Suite D, Fort Smith, AR 72903

FAQs

  • Introduction

    Refinancing a mortgage can be a complicated process, and hiring a mortgage refinancing broker can make it simpler and faster. There are several things you can do to protect your interests and help your broker complete the process for you.

    Check a potential broker’s online reviews to find one with a good reputation. In addition to the opinions of past clients, check to see if a broker has an online portfolio, which can support the reviews you find from past clients to show a broker’s trustworthiness. This can also help you establish if a broker has handled financing for properties similar to yours.

    Get a written summary of a broker’s rates before committing so you know exactly what hiring your chosen mortgage refinance broker will cost. Find out which lenders work with your broker and what information they need to successfully refinance your mortgage.
  • When should you consider refinancing your mortgage in Fort Smith?

    In Fort Smith, refinancing becomes a good idea when the current mortgage rates are lower than what you have, offering potential savings. It works best if you plan to live in your home long enough to recover these costs through lower monthly payments. If you're planning to sell your home soon, refinancing might not be the best choice. It's also essential to factor in all the costs associated with refinancing, like closing fees.

  • What are the key advantages of FHA Streamline Refinance in Fort Smith?

    FHA Streamline Refinance in Fort Smith offers several advantages, including fewer documentation requirements, elimination of home appraisal necessity, absence of income verification, no employment check needed, and usually no credit assessment. FHA Streamline Refinance not only simplifies the process but also provides the potential for lower monthly mortgage payments by recalculating your interest rate based on current market rates.

  • What is the FHA loan limit for mortgage properties in Fort Smith?

    In Sebastian County, including Fort Smith, the FHA loan limits vary depending on the type of property. For single-family homes, the FHA loan limit is $472,030. If you're interested in a multi-unit property, the limits are as follows: $604,400 for 2 units, $730,525 for 3 units, and $907,900 for four units. These limits are determined based on the average home sales values in the county and are subject to change.

  • What are the various options for mortgage refinancing in Fort Smith?

    Various options for mortgage refinancing in Fort Smith include an Interest Rate Refinance, allowing you to lower your rate with a new loan; a Loan Switch, which involves transitioning between an ARM and fixed-rate mortgage; a Term Refinance, enabling you to adjust your loan term for specific objectives; and a Cash-Out Refinance, which provides cash by refinancing for an amount exceeding your current balance.

  • Are there limitations on cash-out refinancing in Fort Smith?

    When considering cash-out refinancing in Fort Smith, be aware of specific requirements which typically include a higher minimum credit score, a year of homeownership, and stricter loan-to-value ratios. In most cases, conventional loans mandate a minimum loan-to-value ratio of 80%. It's important to understand these criteria to determine your eligibility for cash-out refinancing in the area.

  • How do you refinance a mortgage?

    Decide why you’re refinancing, such as to get a lower interest rate, pay off your loan faster, or to get a lower monthly payment. Share your credit information with your broker along with information about the equity you have in your home. Review your mortgage refinance broker’s quotes and choose the best loan terms.