The Best Mortgage Lenders in Brookhaven, MS
Compare verified mortgage lenders serving Brookhaven, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Brookhaven
Featured Mortgage Lenders
Brookhaven Bank Mortgage Department
Brookhaven Bank
Brookhaven Bank stands as the premier local mortgage lender in Brookhaven with deep community roots and exceptional personalized service. As a community bank founded over two decades ago, they offer the advantage of local decision-making and relationships combined with competitive rates. Their mortgage team has extensive experience with Lincoln County properties and understands the local real estate market dynamics. Customers consistently praise their responsive communication, smooth closing processes, and commitment to finding the right loan products for individual needs, making them the top choice for Brookhaven residents seeking mortgage financing.
Loan Types:
Trustmark National Bank Mortgage Division
Trustmark National Bank
Trustmark National Bank provides comprehensive mortgage services to Brookhaven residents through their local branch with the backing of a well-established regional financial institution. With over 130 years in banking, their mortgage division brings substantial expertise and stability to the lending process. They offer a wide range of loan products and have particularly strong relationships with local real estate professionals. Trustmark receives high marks for their professional loan officers, competitive rate options, and efficient processing, making them a reliable choice for both first-time homebuyers and experienced property investors in the Brookhaven area.
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Fairway Independent Mortgage Corporation - McComb Office
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation's McComb office serves the Brookhaven market with exceptional expertise and nationally-recognized excellence in mortgage lending. Despite being located in nearby McComb (approximately 30 minutes from Brookhaven), they actively serve Lincoln County and have built a strong reputation for their innovative technology, competitive rates, and outstanding customer service. Their loan officers are praised for going above and beyond to ensure smooth transactions and timely closings. With numerous industry awards and thousands of positive reviews nationwide, Fairway brings top-tier mortgage services to Brookhaven residents while maintaining the personal attention of a local lender.
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Frequently Asked Questions
Common questions about mortgage lending in Brookhaven, MS
What are the current average mortgage rates for homebuyers in Brookhaven, MS?
Mortgage rates in Brookhaven typically align with national averages but can vary slightly based on local lender competition. As of recent data, 30-year fixed rates generally range between 6.5-7%, while 15-year fixed rates are around 5.75-6.25%. It's recommended to compare rates from local Brookhaven lenders like Trustmark or BankPlus, as they may offer competitive terms specific to the area.
Are there any first-time homebuyer programs specifically available in Brookhaven?
Yes, Brookhaven homebuyers can access the Mississippi Home Corporation's Mortgage Credit Certificate program, which provides a federal tax credit. Additionally, local lenders often offer special first-time buyer programs with lower down payment requirements. Some Brookhaven employers, like King's Daughters Medical Center, may also have partnerships with lenders for employee homebuyer assistance.
How does Brookhaven's housing market affect mortgage qualification and down payment requirements?
With Brookhaven's median home price around $150,000-$180,000, down payment requirements are generally more accessible than in larger Mississippi cities. Many local lenders offer conventional loans with 3-5% down payments, and the affordable market means debt-to-income ratios are easier to meet. However, appraisals can be challenging for older historic properties in downtown Brookhaven.
What special considerations should I know about getting a mortgage for older homes in Brookhaven's historic districts?
Mortgaging historic homes in areas like downtown Brookhaven often requires additional inspections and potentially higher insurance costs. Lenders may require specialized appraisals to account for unique architectural features and restoration needs. Some local lenders have experience with these properties and can guide you through FHA 203(k) renovation loans if updates are needed.
Are there any local down payment assistance programs available for Brookhaven homebuyers?
Yes, the City of Brookhaven occasionally partners with state programs to offer down payment assistance, particularly through the Mississippi Home Corporation. Local lenders also sometimes provide grants or second mortgage options for qualified buyers. Additionally, Lincoln County has occasional housing initiatives that can help with closing costs for moderate-income buyers purchasing within city limits.
Why Choose a Mortgage Lender in Brookhaven?
Local Market Knowledge
Lenders who understand Brookhaven'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 Brookhaven and get competitive rates on your home loan.