The Best Mortgage Lenders in Chatham, MS
Compare verified mortgage lenders serving Chatham, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chatham
Featured Mortgage Lenders
Renasant Bank Mortgage Department
Renasant Bank
Renasant Bank is one of Mississippi's most established and trusted financial institutions with deep roots throughout the state. While headquartered in Tupelo, they have a strong presence across northern Mississippi and serve the Chatham area with personalized mortgage solutions. Their mortgage team receives exceptional ratings for local decision-making, competitive rates, and understanding Mississippi's unique housing markets. With over a century of community banking experience, they offer the stability of a large regional bank combined with local market expertise and quick turnaround times.
Loan Types:
Keesler Federal Credit Union Mortgage Services
Keesler Federal Credit Union
As Mississippi's largest credit union, Keesler Federal serves members across the entire state including Chatham residents. They consistently earn top ratings for their competitive mortgage rates, exceptional member service, and comprehensive first-time homebuyer programs. Their mortgage specialists are praised for guiding borrowers through the entire process with transparency and expertise. While headquartered on the coast, they effectively serve members statewide with digital mortgage capabilities and local relationship managers who understand Mississippi's rural and suburban housing markets.
Loan Types:
Tower Loan of Mississippi
Tower Loan
Tower Loan has been serving Mississippi communities since 1936 with a strong focus on personal service and community lending. While they operate multiple branches across the state, they have extensive experience serving smaller Mississippi towns like Chatham. They receive excellent ratings for their straightforward application process, flexible underwriting for various credit situations, and local loan officers who provide personalized attention. Their deep understanding of Mississippi's economic landscape and long-standing commitment to the state make them a reliable choice for Chatham area homebuyers seeking traditional mortgage services.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Chatham, MS
What are the current average mortgage rates for homebuyers in Chatham, MS?
Mortgage rates in Chatham typically align with national averages but can vary based on local lenders and property types. Currently, 30-year fixed rates range between 6.5-7% for qualified buyers in Winston County. It's best to compare offers from local institutions like Bank of Okolona and regional credit unions for the most competitive rates specific to Chatham properties.
Are there any first-time homebuyer programs specifically available in Chatham?
Yes, Chatham homebuyers can access the Mississippi Home Corporation's Mortgage Credit Certificate program, which provides a federal tax credit. Additionally, local lenders often offer special programs for first-time buyers with lower down payment requirements. The USDA Rural Development loan is particularly relevant since Chatham qualifies as a rural area, offering 100% financing options.
How does Chatham's rural location affect mortgage lending and property appraisal processes?
Chatham's rural setting means appraisals may take longer as appraisers often travel from larger cities like Tupelo or Columbus. Lenders may require additional property inspections for older homes common in the area. Well and septic system evaluations are typically mandatory since many properties aren't connected to municipal water systems.
What types of properties in Chatham typically qualify for USDA rural housing loans?
Most single-family homes in Chatham qualify for USDA loans since the entire area is designated rural. This includes existing homes, new construction, and even some manufactured homes that meet HUD guidelines. Properties must be primary residences and meet basic safety standards, making this an excellent option for many Chatham homebuyers.
Are there local down payment assistance programs available for Chatham homebuyers?
Yes, through the Mississippi Home Corporation's Down Payment Assistance program, eligible Chatham buyers can receive up to $6,000 in assistance. Local lenders may also offer their own assistance programs, particularly for teachers, healthcare workers, and other essential service employees. These programs often combine with first-time homebuyer incentives for maximum benefit.
Why Choose a Mortgage Lender in Chatham?
Local Market Knowledge
Lenders who understand Chatham'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 Chatham and get competitive rates on your home loan.