The Best Mortgage Lenders in Lexington, MS
Compare verified mortgage lenders serving Lexington, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lexington
Featured Mortgage Lenders
BankPlus Mortgage Department
BankPlus
BankPlus stands as Lexington's most established local financial institution with deep community roots spanning over a century. As a Mississippi-based community bank, they offer personalized mortgage services with local decision-making authority. Their mortgage team understands the specific needs of Holmes County residents and provides competitive rates with flexible underwriting. Customers consistently praise their responsive service, transparent process, and commitment to the local community. With physical branches in Lexington, they offer the convenience of face-to-face consultations and local servicing throughout the loan lifecycle.
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Trustmark Mortgage Services
Trustmark National Bank
Trustmark National Bank maintains a strong physical presence in Lexington with a local branch that offers comprehensive mortgage services. As a regional banking powerhouse with deep Mississippi roots, they combine the stability of a large institution with local market expertise. Their mortgage specialists provide personalized guidance through the entire home financing process, with particular strength in first-time homebuyer programs and government-backed loans. Trustmark receives high marks for their reliable service, competitive rate options, and long-term commitment to Mississippi communities.
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Supreme Lending Jackson Office
Supreme Lending
While based in Madison, Supreme Lending's Jackson-area office actively serves Lexington and Holmes County with exceptional mortgage services. This nationally recognized mortgage company earns consistently outstanding reviews for their efficient processing, competitive rates, and exceptional customer service. Their experienced loan officers specialize in navigating complex financing scenarios while maintaining clear communication throughout the process. Supreme Lending is particularly praised for their quick closings, extensive loan product portfolio, and dedicated support team that makes the mortgage experience smooth and transparent for borrowers throughout central Mississippi.
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Frequently Asked Questions
Common questions about mortgage lending in Lexington, MS
What are current average mortgage rates for homebuyers in Lexington, MS?
Mortgage rates in Lexington typically run slightly below national averages due to the area's lower cost of living and competitive lending environment. As of recent data, 30-year fixed rates generally range from 6.25% to 6.75%, but these can vary based on credit score, loan type, and specific lender. Local banks and credit unions often offer competitive rates that may be more favorable than national lenders.
Are there any first-time homebuyer programs specifically available in Lexington?
Yes, Lexington homebuyers can access the Mississippi Home Corporation's Mortgage Credit Certificate program, which provides a federal tax credit for first-time buyers. Additionally, local lenders often participate in MHC's down payment assistance programs that can provide up to $6,000 in assistance. These programs are particularly valuable in Lexington's affordable housing market where median home prices are below state averages.
How does Lexington's rural location affect mortgage options and requirements?
Lexington's rural designation makes many buyers eligible for USDA Rural Development loans, which offer 100% financing with no down payment required. These loans are particularly advantageous in Holmes County and can feature lower mortgage insurance costs than conventional loans. However, income limits do apply, so working with a local lender familiar with USDA guidelines is recommended.
What special considerations should I know about when getting a mortgage for older homes in Lexington's historic areas?
Many homes in Lexington's historic districts were built before 1950, which may require specialized renovation loans like the FHA 203(k) or Homestyle Renovation mortgages. Lenders typically require more thorough inspections and may have stricter appraisal requirements for older properties. It's wise to work with appraisers and inspectors familiar with historic home construction methods common in central Mississippi.
Are there local property tax considerations that affect mortgage qualification in Lexington?
Holmes County property taxes are among the lowest in Mississippi, typically ranging from 0.5% to 0.8% of assessed value, which positively impacts debt-to-income ratios during mortgage qualification. However, buyers should be aware that property taxes are reassessed upon sale, so your tax bill may increase from the previous owner's amount. Local lenders can help estimate these costs accurately during pre-approval.
Why Choose a Mortgage Lender in Lexington?
Local Market Knowledge
Lenders who understand Lexington'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 Lexington and get competitive rates on your home loan.