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Mortgages



Your Mortgage Starts Here

If you want a low-rate, low-stress mortgage, you’ve come to the right place. When you work with the mortgage professionals at First Western Bank, your home buying experience will be as simple and convenient as possible.
 
 
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Our Loan Options

Whether you’re buying your first home, building your dream house, or refinancing an existing loan, we offer competitive mortgage rates, flexible loan options, and personalized service from a team that knows Western Arkansas.
 
  • Conventional Loans: A popular choice with flexible terms and competitive interest rates.

  • Adjustable Rate Mortgages (ARMs): Enjoy lower initial rates and the expert guidance to help you decide if an ARM is right for you.

  • Refinance options:  Help save on interest, lower your monthly mortgage payment, or tap into your home equity.

  • FHA Loans: Ideal for first-time buyers—pay as little as 3.5% down with more flexible credit requirements.

  • VA Loans: Exclusive to eligible veterans and service members—0% down with no private mortgage insurance (PMI) required.

  • USDA Rural Development Loans: Great for qualifying rural properties in Arkansas—0% down payment required.

  • Jumbo Loans: Financing for higher-value homes that exceed the $647,200 conforming loan limit.

  • HomePath Financing: For eligible Fannie Mae properties—just 5% down, no appraisal, and no monthly PMI.

  • Bond Loans: Down payment assistance may be available for qualifying borrowers.


Pathway to Homeownership: The Mortgage Loan Process

Getting a mortgage with First Western Bank is a straightforward process designed to keep you informed and on track. It begins with pre-qualification to determine your buying power, followed by preparing your loan application, reviewing your credit, and finalizing your agreement with the seller. From there, we’ll handle the appraisal, title research, and insurance requirements to protect your investment. Finally, you'll close on your loan and receive the keys to your new home.
 
Want to see each step in more detail?
Learn more about the mortgage loan process

Refinance Your Home in Arkansas

By refinancing to a lower rate, you can reduce the long-term effects of compound interest and save significantly over the life of your mortgage.

If you're thinking about refinancing, now is a great time to take action. Whether you want to lower your monthly payment, shorten your loan term, or tap into your home’s equity, our experienced lending team at First Western Bank is here to help. With mortgage rates still at competitive lows, refinancing could save you thousands over the life of your loan.

Our local experts can walk you through your options, whether you’re looking to lock in a lower interest rate, consolidate debt, or fund major expenses like home improvements. We'll guide you every step of the way to make the process fast, easy, and stress-free.

Don’t leave money on the table. Contact one of our experienced mortgage lenders today and let us show you how refinancing can help you reach your financial goals.

RELATED: Six Reasons to Refinance Your Mortgage

 

 

Mortgage FAQs

First-time homebuyers, and those who already own a home, always have questions during the loan process. Even if you have taken out a mortgage before, you may have forgotten the reason behind some of the rules and procedures. Or, you may have a question specific to your own situation. Here are a few of the many questions we hear most often. If your question isn’t found below, give contact our loan originators. We're here to help you.

  1. Do I really need to be pre-qualified to look for a house and make an offer?
    We recommend that you get pre-qualified so you know exactly how much you can afford before you start shopping.
  2. Who is responsible for having the house inspected? Who pays for it?
    A home inspection is not a requirement for your mortgage, but it will help you determine if the house has any problems that need to be addressed. You, as the buyer, are responsible for this expense.
  3. Do I need to purchase mortgage insurance if I’m making a large down payment?
    We have several options on bypassing mortgage insurance. Ask any loan originator and they can explain these scenarios.
  4. Is hazard insurance mandatory? Aren’t I covered by my regular insurance company?
    Hazard insurance is just another way of saying homeowner’s insurance. You must have insurance on your home in order to get a mortgage.
  5. Should I go ahead and pay points upfront? When does it make sense to pay or not to pay them?
    On average, one point will bring your interest rate down 0.25 percent. If this is a good decision or not depends on how long you will be occupying the property. Ask any loan originator to show you how long it would take to break even on this expense.
  6. I want a 20 year mortgage instead of a 30 year, but it means I’ll have to cut back on a lot of things to afford it. Would you allow me to do that? 
    We offer 5, 10, 15, 20, 25 or 30 year mortgages. Our loan originators can assist you with making this decision.
  7. How often can the interest rate on an adjustable rate mortgage (ARM) be changed? Is there a period of time the new rate locks in, or can the lender change it every month if he wants to?
    This depends on the type of ARM you choose. Typical ARM loans have a lock period that is followed by a yearly adjustment. For example, if you choose a 5/1 ARM, you would be guaranteed a five-year lock, and the rate would adjust on the fifth year anniversary date and every subsequent year.
  8. If I’m pre-qualified for a loan, isn’t it just a technicality that keeps me from being pre-approved?
    If I qualify, I should be approved too. A pre-qualification is based on what you tell us at the time of application. A pre-approval requires us to verify all of this information. For example, you tell us what your salary is and we need to get a paystub to confirm the salary information.
  9. If my mortgage and hazard insurance payments are kept in escrow until needed, do I earn interest while the money is being held?
    Escrow accounts cannot earn interest. Also, the mortgage company that holds your escrow account cannot earn interest on this money.
  10. I think the real advantage of the fixed-rate mortgage is knowing what my payment will be every month. Are there any disadvantages to fixed-rate mortgages?
    If you know that you will be moving to a new location in less than five years, you should consider an adjustable rate mortgage (ARM) loan. This will lower your interest rate slightly.
  11. What if I take out a 30 year loan, but plan on paying it off in 20 years? Is there a penalty for that?
    In most cases, there is no penalty.
  12. This is the first time I’ve bought a house. Are there any special programs available to me?
    There are several programs that do not require any money down and offer assistance to first-time homebuyers. Ask any loan originator for details.
  13. If everything goes smoothly, how long does it take to go from applying for the loan to the closing?
    On average, the process takes 30 days.
  14. With the growing threat of identity theft, how do I know the information I provide will be kept confidential? Is there a privacy policy in place?
    We have a privacy policy in place at First Western.
  15. I had a few months of making late payments because my child was sick and I couldn’t always go through my bills promptly. It hurt my credit rating. What can I do?
    We would need a completed application and credit report in order to assess your situation.  Then, we would work with you to try and find a solution.
  16. I’m recently divorced, and have no credit history because everything was in my spouse’s name. Can I still get a loan?
    We would need a completed application and credit report in order to assess your situation.
  17. Why do I need to pay for an expensive title search? Isn’t the title transferred to the new owner every time a sale was made?
    A title search is done in order to prove that there are no current liens or judgments on the property you are purchasing. It is the bank’s responsibility to prove that you are purchasing a “free and clear” property.
  18. My family is giving me the money for my down payment. Is this a problem?
    This is allowable under certain circumstances. Ask a loan officer for details.
 

Mortgage Calculators

Estimate monthly payments, taxes, refinance savings and more!
 
 

Work with a Local Mortgage Team You Can Trust

At First Western Bank, our mortgage team combines deep experience with true local expertise. You’ll work with friendly, knowledgeable loan officers who understand how important timing and service are in today’s market.

We keep the process moving with two dedicated underwriters on staff who review applications within one business day—something you won’t always find at larger financial institutions.

Best of all, we’re here when you need us. Whether you prefer to apply in person, at 479-936-2040, or online, our team is ready to help you start your mortgage journey with confidence.

 

Ready to get started?

Contact our mortgage specialists today to learn more or begin your application.
 
 

Our Mortgage Lenders

 

Lender


NMLS #

Clay Conly


653956

Jennie Hill


607984

Tricia Depeel


1309007

Lauren Carter


1672205

Linda Sloan


979749