Bank of Little Rock Mortgage Interest Rate and Cost Review

Is Bank of Little Rock a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Bank of Little Rock with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.05%)
Loan Related Closing Costssimilar to average (-$135)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.bankoflittlerock.com

On average, Bank of Little Rock’s interest rates were similar to those of other lenders (-0.05%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$135. Overall, combining interest rates and closing costs we estimate that Bank of Little Rock tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Bank of Little Rock’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Bank of Little Rock was most active in:

  1. Little Rock, AR
  2. Springfield, MO
  3. Birmingham, AL
  4. Fayetteville, AR
  5. Tuscaloosa, AL

You can click through to check out Bank of Little Rock’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Bank of Little Rock’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Bank of Little Rock originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.04%-0.10%+0.01%-0.02%-0.03%
Loan Related Closing Cost Difference-$72-$2+$2-$44-$268
Cost Adjusted Rate Difference-0.04%-0.10%+0.01%-0.02%-0.05%
Star Rating(3.5)(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.05%-0.00%+0.01%-0.02%
Loan Related Closing Cost Difference-$374-$77-$23-$98
Cost Adjusted Rate Difference-0.08%-0.01%+0.01%-0.02%
Star Rating(4.0)(3.5)(3.5)(3.5)

As a summary, Bank of Little Rock is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming, Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, Bank of Little Rock is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Bank of Little Rock:

Registered name: Bank Of Little Rock Mortgage Corporation
Registered city and state: Little Rock, AR, 72223
Regulator: Federal Reserve System (FRS)
Top holder: LITTLE ROCK BANKSHARES, INC.

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Bank of Little Rock’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.