Home Loan Programs in Arkansas
There are many types of home loans, and matching them to your situation is what a broker is for. Start with the finder, or browse them all.
The full menu, one program at a time
Conventional
The workhorse. Private lenders, flexible terms
Any home loan that isn't provided or secured by a government entity. These come through private lenders such as banks, credit unions, and mortgage companies. Conventional loans include "conforming" loans that follow Fannie Mae and Freddie Mac guidelines and "nonconforming" loans such as jumbo loans. You don't necessarily need a large down payment, and down payment assistance may be available for qualified buyers.
Everything about Conventional loans in NWA →FHA
Flexible credit, low down payment options
A government-backed mortgage insured by the Federal Housing Administration and issued by an approved lender. FHA loans allow lower minimum down payments and more flexible credit requirements than many conventional loans, which makes them a popular path for first-time homebuyers. You may qualify even with existing debt, a lower credit score, or a past bankruptcy on your record.
Everything about FHA loans in NWA →VA
For those who served. Little to no down payment
A mortgage program through the U.S. Department of Veterans Affairs for veterans, active-duty service members, reservists, National Guard members, and eligible surviving spouses. Backed by the federal government but issued through private lenders, VA loans allow qualified buyers to purchase with little to no down payment and no private mortgage insurance. You don't need to be a combat veteran to qualify.
Everything about VA loans in NWA →USDA
Zero down in qualifying areas, including much of NWA
A zero-down-payment mortgage for qualifying homebuyers in designated rural areas through the USDA Rural Development Guaranteed Housing Loan Program. "Rural" includes many growing towns and outer suburbs, not just farmland, and there's no limit on how many times an eligible borrower can use the program.
Everything about USDA loans in NWA →Jumbo
For homes above conforming limits
A mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency, so it can't be purchased or guaranteed by Fannie Mae or Freddie Mac. Jumbo financing covers higher-priced homes and competitive markets, for primary residences, vacation homes, and investment properties.
Everything about Jumbo loans in NWA →Construction
From blueprints to permanent mortgage
Finances the building of a home, disbursing funds in phases that match your project's progress rather than one lump sum. During construction you may pay interest only on the funds disbursed; once the home is complete, the loan transitions into a permanent mortgage in one smooth step.
Everything about Construction loans in NWA →Fixed rate
One payment, for the life of the loan
Your principal-and-interest payment stays the same for the life of the loan, in 30-year, 15-year, and other terms. The predictable choice when you plan to stay put, and the structure most Northwest Arkansas buyers end up comparing everything else against.
Adjustable (ARM)
Lower initial period, scheduled adjustments
A lower initial fixed period followed by scheduled adjustments. Useful when you don't plan to hold the loan long-term, or when you expect your situation to change before the adjustment period begins. We'll map the timeline honestly so there are no surprises.
Temporary buydown
Ease into the payment in the first years
2-1 and 1-0 buydown structures reduce your payment in the first years of the loan, sometimes funded by a seller or builder concession. A useful negotiating tool in new-construction markets like Centerton and Rogers.
First-time buyer
Guidance from pre-qualification to keys
Programs and guidance designed for buyers purchasing their first home, starting with a free pre-qualification conversation. We explain each step: what underwriters look for, what to have ready, and which program actually fits.
Everything about First-time buyer loans in NWA →Home equity (HELOC)
Borrow against your equity, keep your first mortgage
A home equity line of credit sits behind your existing mortgage as a second lien, so your current rate and payment stay put. Draw what you need for improvements, debt payoff, or a cushion. For a fully online HELOC we partner with Aven, whose application can return a decision in as fast as 15 minutes.
Everything about home equity loansInvestment property
Financing that qualifies on the property
Financing for rental and investment homes, including DSCR options that qualify on the property's income rather than your W-2s. Popular with Fayetteville and Bentonville landlords building portfolios.
Non-QM
For income that doesn't fit the standard boxes
Bank statement, 1099, and asset-based qualifying for self-employed borrowers and others whose income doesn't fit standard documentation. These programs look at how you actually earn, not just what a W-2 says.
You don't have to pick the program.
That's our job.
Bring us your situation. Gray will shop it across competing lenders and tell you plainly which of these programs actually fits, and why. If the honest answer is “wait six months,” you'll hear that too.
Fastest way: (479) 250-4485.