The Best Mortgage Lenders in Lamar, MS
Compare verified mortgage lenders serving Lamar, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lamar
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly-rated national mortgage lender with a strong regional presence in Mississippi, including service to Lamar. Founded in 2000, it is renowned for its competitive rates, digital mortgage process, and exceptional customer service. With over 24 years of experience, the company offers a wide array of loan products and has consistently high customer satisfaction ratings, making it a top choice for homebuyers in the area.
Loan Types:
New American Funding
New American Funding
New American Funding is a reputable mortgage lender known for its community-focused approach and diverse loan options. Established in 2003, it has built a solid reputation over 21 years for reliability, personalized service, and competitive rates. With local offices in Mississippi, including near Lamar, the company excels in customer care and has numerous positive reviews for its efficient and supportive lending process.
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Mr. Cooper
Mr. Cooper Group Inc.
Mr. Cooper, formerly Nationstar, is a well-established mortgage lender and servicer with 30 years of industry experience. It offers a user-friendly online platform and competitive loan products, serving Lamar and broader Mississippi effectively. Known for its high customer satisfaction and strong track record, Mr. Cooper provides reliable financing solutions with a focus on transparency and support throughout the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Lamar, MS
What are the current average mortgage rates for homebuyers in Lamar, MS?
Mortgage rates in Lamar typically align with national averages but can be slightly lower due to the area's lower cost of living. As of recent trends, 30-year fixed rates often range between 6.5% and 7%, but it's essential to check with local lenders like Community Bank or The Citizens Bank for the most accurate, personalized rates based on your credit profile and loan type.
Are there any first-time homebuyer programs specific to Lamar that can help with down payments?
Yes, Lamar homebuyers can access the Mississippi Home Corporation's Mortgage Credit Certificate (MCC) and Down Payment Assistance programs. These state-wide programs are actively used in Lamar and can provide significant tax credits and up to $6,000 in down payment help, making homeownership more accessible for qualified first-time buyers in the area.
How does Lamar's rural location affect mortgage lending and property appraisal processes?
Lamar's rural setting means appraisals may take slightly longer as appraisers often need to travel from larger markets like Hattiesburg. Lenders are familiar with comparing properties in nearby communities (e.g., Purvis, Lumberton) to establish value, but buyers should anticipate potential challenges if the property includes significant land or unique features that require specialized appraisal.
What types of properties in Lamar are eligible for USDA loans, and how can I qualify?
Most of Lamar qualifies for USDA Rural Development loans due to its population and location. These zero-down-payment loans are ideal for moderate-income buyers looking at single-family homes in designated rural areas. Eligibility depends on household income limits (which are generous for Lamar) and the property meeting USDA safety standards, making it a popular choice for local buyers.
Are property taxes in Lamar generally high, and how do they impact monthly mortgage payments?
Lamar has relatively low property taxes compared to national averages, with Lamar County rates around 0.6% to 0.8% of assessed value. This means lower escrow payments included in your monthly mortgage, which can improve affordability. However, buyers should still verify exact taxes with the Lamar County Tax Assessor's office, as rates can vary slightly based on specific property locations.
Why Choose a Mortgage Lender in Lamar?
Local Market Knowledge
Lenders who understand Lamar'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 Lamar and get competitive rates on your home loan.