The Best Mortgage Lenders in Booneville, MS
Compare verified mortgage lenders serving Booneville, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Booneville
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service and competitive rates. With over 28 years of experience, they specialize in a wide range of loan products and have a strong presence in northeastern Mississippi, including Booneville. Their high ratings stem from personalized service, quick processing times, and a commitment to community involvement, making them a trusted choice for homebuyers in the region.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its innovative lending solutions and customer-centric approach. Founded in 2008, they have built a reputation for fast closings and transparent processes, serving Booneville and surrounding areas through local loan officers. Their strong review scores reflect reliability, competitive rates, and a focus on education for borrowers, ensuring a smooth mortgage experience from application to closing.
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New American Funding
New American Funding
New American Funding offers a diverse portfolio of loan options and is praised for its inclusivity and customer satisfaction. Established in 2003, they provide tailored solutions for Booneville residents, with a emphasis on first-time homebuyers and underserved communities. Their high ratings are due to responsive service, flexible terms, and a local team that understands the Mississippi market, ensuring clients receive reliable and efficient mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in Booneville, MS
What are the current average mortgage rates for homebuyers in Booneville, MS?
Mortgage rates in Booneville typically align with national averages but can vary slightly based on local lenders and market conditions. As of recent data, 30-year fixed rates in the area generally range from 6.5% to 7.25%, while 15-year fixed rates are approximately 5.75% to 6.5%. It's best to check with local Booneville lenders like Community Bank or regional credit unions for the most current rates and personalized quotes.
Are there any first-time homebuyer programs specifically available in Booneville?
Yes, Booneville homebuyers can access the Mississippi Home Corporation's Mortgage Credit Certificate (MCC) program, which provides a federal tax credit for a portion of mortgage interest paid. Additionally, the MHC Down Payment Assistance program offers up to $6,000 in assistance for eligible buyers. Local lenders like Bank of Booneville are familiar with these programs and can help you determine eligibility.
How does Booneville's rural location affect mortgage lending options?
Booneville's rural designation makes buyers eligible for USDA Rural Development loans, which offer 100% financing with no down payment required. This is particularly beneficial given the area's moderate home prices and can be combined with local property tax incentives. Many Booneville properties qualify for these programs, making homeownership more accessible than in urban areas.
What are typical closing costs for mortgages in Booneville compared to other parts of Mississippi?
Closing costs in Booneville typically range from 2% to 5% of the home's purchase price, which is slightly lower than the state average due to the area's lower property values and recording fees. Prentiss County's recording fees are approximately $46 for the first page and $9 for additional pages, and title insurance tends to be more affordable than in larger Mississippi markets like Jackson or Gulfport.
Are there any local property tax considerations that affect mortgage payments in Booneville?
Yes, Prentiss County property taxes are relatively low compared to national averages, currently around 0.68% of assessed value. This means your escrow payments for property taxes will be more affordable than in many other locations. However, it's important to note that Booneville homeowners may see slight tax increases if property values rise, though millage rates have remained stable in recent years.
Why Choose a Mortgage Lender in Booneville?
Local Market Knowledge
Lenders who understand Booneville'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 Booneville and get competitive rates on your home loan.