Jake Arey Mortgage

Picking A Mortgage Loan

As your local mortgage lender, we take the time to get to know you and fully understand your long term goals to tailor make a plan that fits your needs.

ADFA

This is a state program offered through the Arkansas Department of Finance Authority. This suite of programs includes down payment assistance and grants for first time home buyers.

Construction Loan

Construction loans allow you to finance the construction of your custom home from start to finish. We offer construction loans to fit your custom home needs.

VA Loans

VA loans provide 100% financing options when purchasing or refinancing a home for current or ex-military personnel.

Rural Development

Rural Development loans provide 100% financing options when purchasing or refinancing a home located in a rural area.

Conventional

Conventional loans have separate down payment requirements, depending on the specific situation, and are typically more attractive for individuals with good credit scores and/or the ability to contribute a substantial down payment.

FHA

FHA loans require a relatively low down payment and are insured through the U.S. Federal Housing Administration.

Home Purchase Basics

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Congratulations on your decision to purchase a new home! There are many important things to consider throughout the process, especially if you are a first-time homebuyer. Here’s some information that will keep you on track. In general, a home purchase may be your largest financial transaction to date, so it’s important to make the right decisions and to keep an eye on the details. With the assistance of your real estate agent and loan officer, it should be an efficient, pleasant, and ultimately rewarding experience.

Your Agent Will:

Review available homes to weed out those that are overpriced or undesirable in some other way.
Present the homes that suit your needs as defined by you.
Help you determine the difference between a “good buy” and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
Negotiate the best deal for you. With a pre-qualification letter from us in hand, your real estate agent will be able to demonstrate that you are a qualified and capable Buyer.

We Will:

Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)
Keep you informed of your loan status throughout the entire process.
Keep your real estate agent informed of our loan progress.
Help you determine the most appropriate loan, for your specific needs. This will save you significant money “up front” and throughout the years to come.

You Will:

Keep your real estate agent informed of any questions or concerns as they develop.
Keep the process moving by providing documentation and decisions as soon as reasonably possible.
Enjoy purchasing your home, but do remain objective throughout — to make the business decisions that are best for you.
Make sure you are pre-qualified as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.

Your Mortgage Is Our Commitment