The Best Mortgage Lenders in Fulton, MS
Compare verified mortgage lenders serving Fulton, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fulton
Featured Mortgage Lenders
Renasant Bank Mortgage
Renasant Bank
Renasant Bank is one of the most established and highly-rated regional lenders serving Fulton and Northeast Mississippi. With over a century of local banking experience, they offer personalized mortgage services through their Tupelo headquarters just 25 miles from Fulton. Renasant consistently receives excellent ratings for their competitive rates, local underwriting expertise, and exceptional customer service. Their deep community roots and comprehensive loan programs make them a top choice for Fulton area homebuyers seeking reliable, local mortgage solutions.
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Magnolia State Bank Mortgage
Magnolia State Bank
Magnolia State Bank provides exceptional local mortgage services directly in Fulton, making them one of the most accessible and community-focused lenders in the area. With their main office located right in Fulton, they offer personalized attention and deep understanding of local real estate markets. Customers consistently praise their responsive service, competitive rates, and smooth closing process. Their experienced loan officers specialize in helping buyers throughout Itawamba County with various loan programs tailored to local needs.
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Cadence Bank Mortgage
Cadence Bank
Cadence Bank (formerly BancorpSouth) has a strong regional presence serving Fulton and Northeast Mississippi with comprehensive mortgage services. With deep roots in the region dating back to the 19th century, they offer extensive experience and local market knowledge. Their Tupelo mortgage team serves Fulton residents with competitive rates and a wide range of loan products. Cadence receives high marks for their digital mortgage tools combined with local underwriting expertise, providing both convenience and personalized service to Fulton area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Fulton, MS
What are the current average mortgage rates for homebuyers in Fulton, MS?
Mortgage rates in Fulton typically align with national averages but can be slightly lower due to the area's lower cost of living. As of recent data, 30-year fixed rates generally range from 6.5% to 7.25%, but local lenders like Community Spirit Bank or Renasant Bank may offer competitive regional rates. It's best to get personalized quotes from multiple Fulton-based lenders since rates can vary based on credit score and loan type.
Are there any first-time homebuyer programs specifically available in Fulton?
Yes, Fulton 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, local lenders often offer special first-time buyer programs with lower down payment requirements, sometimes as low as 3%. These programs are particularly valuable in Fulton's affordable housing market where median home prices are below state averages.
How does Fulton's rural location affect mortgage lending options?
Fulton's designation as a rural area makes buyers eligible for USDA loans, which offer 100% financing with no down payment required - a significant advantage in Itawamba County. Many properties in and around Fulton qualify for these USDA Rural Development loans, which typically have more flexible credit requirements than conventional loans. This makes homeownership more accessible despite the limited local lender options compared to larger cities.
What special considerations should I know about when getting a mortgage for Fulton's older historic homes?
Many homes in Fulton's historic districts may require specialized renovation loans like the FHA 203(k) or Fannie Mae HomeStyle loans, as standard mortgages often won't cover properties needing significant repairs. Local appraisers familiar with Fulton's historic properties can help ensure proper valuation of these unique homes. It's crucial to work with lenders experienced in historic property financing in Northeast Mississippi.
How long does the mortgage approval process typically take with Fulton lenders?
The mortgage process with local Fulton lenders typically takes 30-45 days, which is often faster than in larger markets due to less volume and more personalized service. Local institutions like Itawamba Community Development Council or regional banks can sometimes expedite approvals because of their familiarity with Itawamba County property records and appraisers. However, timing can vary based on document submission speed and property type.
Why Choose a Mortgage Lender in Fulton?
Local Market Knowledge
Lenders who understand Fulton'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 Fulton and get competitive rates on your home loan.