The Best Mortgage Lenders in Friars Point, MS
Compare verified mortgage lenders serving Friars Point, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Friars Point
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage
Movement Mortgage is a highly-rated lender known for its exceptional customer service and competitive rates, with a strong regional presence in Mississippi. They specialize in a wide range of loan products, including government-backed options, and are praised for their efficient processing and local expertise. Serving Friars Point through their Southaven office, they have built a reputation for reliability and community involvement.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with numerous industry awards for customer satisfaction. They offer personalized mortgage solutions and have a strong track record in the Mid-South region, including Friars Point. Their team provides expert guidance on various loan types, and they are known for their competitive rates and responsive service.
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Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a nationally recognized lender with high customer ratings for its digital platform and competitive rates. They serve Friars Point through online and phone services, offering a variety of loan options with streamlined processes. Known for transparency and efficiency, they have a strong reputation for helping borrowers in rural and urban areas alike.
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Frequently Asked Questions
Common questions about mortgage lending in Friars Point, MS
What are the current mortgage rates like in Friars Point, MS?
Mortgage rates in Friars Point typically align with national averages but can be slightly higher due to the rural nature of Coahoma County. Currently, rates for 30-year fixed mortgages range from 6.5% to 7.25% depending on credit score and loan type. Local lenders familiar with the Mississippi Delta region often offer competitive rates for qualified buyers.
Are there any special mortgage programs for first-time homebuyers in Friars Point?
Yes, the Mississippi Home Corporation offers the Homebuyer Program which provides affordable fixed-rate mortgages and down payment assistance to eligible first-time homebuyers throughout the state, including Friars Point. Additionally, USDA loans are particularly relevant here since much of Coahoma County qualifies for these zero-down-payment rural development loans.
How does Friars Point's location in a flood zone affect mortgage requirements?
Given Friars Point's Mississippi River location, most lenders will require flood insurance as a condition for your mortgage. Properties in designated Special Flood Hazard Areas will need this coverage, which typically adds $500-$1,500 annually to your housing costs. Your lender will help determine the specific flood zone designation during the appraisal process.
What types of properties are most common for mortgage financing in Friars Point?
Most mortgage loans in Friars Point are for single-family homes and manufactured homes on permanent foundations. Due to the town's historic nature, some older homes may require additional inspections to meet lending standards. USDA and FHA loans are popular choices here as they accommodate the types of properties commonly found in this rural community.
Are there local down payment assistance programs specific to Friars Point homebuyers?
While there aren't programs exclusive to Friars Point, Coahoma County residents can access the Mississippi Home Corporation's Down Payment Assistance program, which provides up to $6,000 in assistance. Some local lenders also offer special programs for teachers, healthcare workers, and other essential service employees working in the county.
Why Choose a Mortgage Lender in Friars Point?
Local Market Knowledge
Lenders who understand Friars Point'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 Friars Point and get competitive rates on your home loan.