The Best Mortgage Lenders in Benton, MS
Compare verified mortgage lenders serving Benton, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Benton
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with nearly three decades of experience, known for exceptional customer service and competitive rates. They have a strong local presence in the Jackson metro area, serving Benton with a wide range of loan options and personalized guidance. Their high ratings stem from efficient processing, transparency, and community involvement, making them a trusted choice for homebuyers in Yazoo County.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its fast loan processing and outstanding customer satisfaction. With over 17 years in the industry, they offer a variety of mortgage products and have a dedicated local team that serves Benton and surrounding areas. Their commitment to community support and competitive rates has earned them numerous positive reviews and a reputation for reliability.
Loan Types:
New American Funding
New American Funding
New American Funding provides comprehensive mortgage solutions with a focus on accessibility and customer care. Founded in 2003, they have built a strong reputation in Mississippi for responsive service and competitive lending options. Their local branch in Flowood ensures personalized support for Benton residents, backed by high review counts and a commitment to diverse loan programs.
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Frequently Asked Questions
Common questions about mortgage lending in Benton, MS
What are the current average mortgage rates for homebuyers in Benton, MS?
Mortgage rates in Benton typically align with national averages but can be slightly lower due to Mississippi's affordable housing market. As of late 2024, conventional 30-year fixed rates in Benton County generally range from 6.5% to 7.25%, though this varies by lender, credit score, and loan type. Local credit unions like Magnolia Federal Credit Union often offer competitive rates specifically for Benton area residents.
Are there any first-time homebuyer programs specifically available in Benton?
Yes, Benton homebuyers can access the Mississippi Home Corporation's Mortgage Credit Certificate program, which provides a federal tax credit for a portion of mortgage interest paid. Additionally, the MHC Down Payment Assistance program offers up to $8,000 in assistance for qualified buyers in Benton County. These programs are particularly valuable given Benton's median home prices being below state averages.
How does Benton's rural location affect mortgage lending requirements?
Benton's rural designation makes many properties eligible for USDA loans, which require no down payment and offer competitive rates. However, lenders may require additional property inspections for older homes common in the area, and some may have stricter requirements for well and septic systems. The rural nature also means fewer local lender options, so working with regional banks familiar with Benton County is advantageous.
What special considerations should I know about when getting a mortgage for a historic home in Benton?
Historic homes in Benton's older neighborhoods may require specialized lending approaches. Many lenders require additional inspections and may have stricter appraisal requirements for historic properties. You'll want to work with lenders experienced with historic homes and consider renovation loans like the FHA 203(k) if updates are needed, as Benton has many properties dating back to the early 20th century.
Are there property tax advantages for homebuyers in Benton that affect mortgage planning?
Benton County offers some of Mississippi's lowest property tax rates, typically around 0.6-0.8% of assessed value, which significantly reduces your monthly mortgage payment when taxes are escrowed. Mississippi's homestead exemption also provides substantial tax relief for primary residences. When calculating your mortgage affordability in Benton, these tax benefits mean you may qualify for a slightly higher loan amount compared to other locations.
Why Choose a Mortgage Lender in Benton?
Local Market Knowledge
Lenders who understand Benton's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Mississippi.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Benton and get competitive rates on your home loan.