Stone Bank is dedicated to helping our customers understand the often rapidly evolving world of home mortgage rates in the state.
The U.S. housing market has experienced significant changes in recent months, and these shifts have also affected Arkansans seeking mortgage loans. One crucial factor to consider in this process is the impact of credit scores on current mortgage rates.
While some viral headlines suggest that higher credit scores result in higher mortgage rates compared to lower scores, the reality is more nuanced. A new federal initiative aims to increase accessibility to home-buying, but it has led to higher fees for some individuals with good credit.
The good news is that even with a higher credit score, there are strategies to mitigate the impact of these fees. At Stone Bank, we offer a variety of home loan structures such as adjustable-rate mortgages and traditional fixed-rate mortgages to help you find the financing option to best meet your individual home loan needs.
The expert home loan officers at Stone Bank understand the significance of credit scores in the mortgage process. We strive to assist our customers in navigating these evolving market dynamics, providing personalized solutions tailored to their specific financial needs.
For more information on how credit scores affect mortgage rates and to explore your options, connect with one of Stone Bank’s experienced mortgage professionals who will guide you through the process and help you make informed decisions. Contact Jason Hornsby at jhornsby@stonebank.com or call (501) 435-2064.
Read more about the new federal program and the impact of credit scores on Arkansas home loans HERE.