Mortgages / Home Loans in Arkansas
You don't have to go any farther than Malvern National Bank for a competitive rate mortgage!
Our Mortgage Loan Department is staffed with experienced and competent officers who are ready to help you get into your first - or your next home! Malvern National Bank is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.
- Extremely competitive rates
- 10, 15, 20, and 30 year fixed rate mortgages
- VA, FHA, and conventional sources of financing
- Fast Service
Contact the branch office location nearest you for more information on our mortgage financing. Click here for branch locations.
Helpful Videos: Click Here to go to our Financial Videos page for helpful topics on obtaining a mortgage.
Get Pre-Approved
You can begin the pre-approval process FREE online, by completing Malvern National Bank's short Pre-Approval internet-secure request form. Click here to begin your pre-approval. If you'd prefer to download a copy of the form to your desktop, complete it and bring it into one of our branches just click here.
It does not obligate you in any way to MNB. It is not a loan application. Your credit will not be checked. When you're finished completing the form, just click "submit". We will be advised your form has arrived and one of our mortgage loan officers will contact you at a convenient time to discuss your mortgage needs. It is that simple.
Adjustable Rate Mortgage Loans
Adjustable Rate Mortgage or A.R.M. Loans, as opposed to conventional mortgages, offer fixed rates for a shorter period of time. Malvern National Bank's fixed rate period on A.R.M.s range from 1 to 5 years. After the fixed rate expires, the rate then can and most likely will, adjust at annual intervals for the remaining life of the loan. As an example, the 5-year A.R.M. has a guaranteed or fixed rate for the first 5 years. At the end of that time the rate can adjust once each year for the remaining term of the loan. The payments are recalculated annually on the remaining balance. The disadvantage of the A.R.M. vs. a conventional mortgage is the possibility for substantially higher payments if the rates increase.
Contact the branch office location nearest you for more information on our mortgage financing. Click here for branch locations.
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Varied Term Real Estate Loan
Varied Term Real Estate Loans are balloon notes, amortized over several years and available with shorter-term balloon repayments. These notes are for people who do not wish to lock into a specific rate for a long period of time. These notes also carry lower closing costs than a standard long-term mortgage.
Contact the branch office location nearest you for more information on our mortgage financing. Click here for branch locations.
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Construction Loans
Construction Loans provide the funds for the construction of single and multi-family dwellings. These loans are usually set for the expected duration of the construction period. An amount is approved by Malvern National Bank prior to the start of construction. It is based on an appraisal of the construction site's market value and the estimated retail value of the property upon completion of the work. As the funds are needed, they can be advanced and payments are made upon accrued interest. The principal and remaining interest become due as agreed at approval.
Contact the branch office location nearest you for more information on our mortgage financing. Click here for branch locations.
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Home Equity Lines-of-Credit
As your home increases in value and you pay down your existing mortgage, you build equity in your home. That equity can be your key to lower rate financing for other expenses, including college tuition, home repairs, debt consolidation, medical bills or any other major expense. Plus, many people are able to deduct the interest paid on their tax return. (Consult your tax advisor for details regarding your specific situation.) If you already have a Home Equity Loan or Line of Credit, now many be the perfect time to refinance to get a lower monthly payment or a better interest rate.
A home equity line-of-credit provides you with the ability to borrow and pay back on an ongoing basis without the hassle of completing applications over and over again. You only pay interest on the amount borrowed for the time you borrow it. Lines-of-credit are excellent ways to finance recurring expenses such as school tuition. It's like having an emergency source of cash.
To access your line-of-credit, all you do is write a check from your credit line account.
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Reverse Mortgages
Throughout our lives, our financial situations change. You plan and prepare for the later years, but what happens when the unexpected occurs? Malvern National Bank has an answer to that question if you own your own home and meet a few qualifications. The answer is a Reverse Mortgage.
A Reverse Mortgage allows homeowners 62 years of age and older to borrow against the equity in their homes. While this sounds similar to a Home Equity Loan or Line-of-Credit, a Reverse Mortgage differs in that no repayments are required to satisfy the loan as long as the homeowner continues to make the home his or her primary residence. The loan is guaranteed by the Federal Goverment.(1) There are 5 different options that can be chosen for how the money is received and there are no restrictions on how the recipient uses the money.(2)
Click Here for more information on Reverse Mortgages.
(1) Reverse Mortgages are guaranteed by the FHA, a part of the U.S. Department of Housing and Urban Development (HUD).
(2) The only restriction on the use of the funds is it can not be used to pay for "estate planners" who charge excessive fees to help a person get a reverse mortgage or for information that can be received for free or for a minimal charge.
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