Don’t know much about mortgage loans? No problem. We’ve laid out the basics for you—sort of a Mortgage 101. It’s all here—from the types of loans available, definitions of some common terms and what you need to know to get started with the home mortgage or mortgage re-financing process. Just check out the links below for simple answers to some frequently asked questions. And if you need more information, like what current mortgage rates are - we’re always just a click away. Email us your question and we’ll get you response in less than 24 hours. Or if you’ve learned enough and you’re ready for pre-approval, just click here to start the process.

Loan Program Information.
Here is a brief look at some commonly asked questions regarding the variety of loan programs available. For even more in-depth information, please contact a Bank of Little Rock Mortgage representative today or reference the comprehensive mortgage information center here.
How are interest rates determined?
What is an adjustable rate mortgage?
Is a 15-year mortgage right for me?
What are closing fees?
What is mortgage insurance?

An Overview On Closing.
Here is a brief look at some commonly asked questions regarding the closing process. For even more in-depth information, please contact a Bank of Little Rock Mortgage representative today or reference the comprehensive mortgage information center here.
What happens at the loan closing?
Who will be at the closing?
Will I need to have an attorney represent me at closing?

Loan Application Basics.
Here is a brief look at some commonly asked questions regarding the loan application process. For even more in-depth information, please contact a Bank of Little Rock Mortgage representative today or reference the comprehensive mortgage information center here.
What is a credit score?
Can I apply for a loan before I find a property to purchase?
Can I borrow funds to use towards my down payment?

What you need to know your property.
What is an appraisal?
Do I need an inspection and an appraisal?
What type of things will the underwriter look for from the appraisal?

Mortgage buying calculators.
How much home can I afford?
Use our Mortgage Loan Calculator: enter the purchase price of your new home, the down payment, the loan interest rate and term. You'll see your monthly payment, how your equity grows, even the impact of making one-time or regular prepayments of principal.

How much house can I buy with my target monthly payment?
Use our Amortizing Loan Calculator: enter your desired payment and let us calculate your loan amount. Or, enter in the loan amount and we will calculate your monthly payment. You can then examine your principal balances by payment, total of all payments made, and total interest paid.

Is renting or owning a better value?
Use our Rent vs. Buy Calculator: Put your current rent in and compare the wealth-building aspect of home ownership with ongoing rental expenses. It takes more than looking at your mortgage payment to answer the question of rent vs. buy. This calculator helps you weed through the fees, taxes, and monthly payments to help you make a decision between these two options.