The Best Mortgage Lenders in Little Rock, MS
Compare verified mortgage lenders serving Little Rock, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Little Rock
Featured Mortgage Lenders
Trustmark Mortgage Team
Trustmark National Bank
Trustmark National Bank is one of Mississippi's most established and highly-rated mortgage lenders with a strong statewide presence. While headquartered in Jackson, they serve clients throughout Mississippi including the Little Rock area. They receive exceptional ratings for their personalized service, competitive rates, and comprehensive loan options. Their mortgage team includes experienced professionals who understand Mississippi's unique real estate markets and provide tailored solutions for both purchase and refinance needs.
Loan Types:
Hope Credit Union Mortgage Department
Hope Federal Credit Union
Hope Credit Union has built an outstanding reputation across Mississippi for affordable mortgage lending with a community-focused approach. They specialize in serving underserved communities while offering competitive rates to all qualified borrowers. Their mortgage team is praised for exceptional customer service, educational resources for first-time homebuyers, and flexible underwriting. They have extensive experience with various government-backed loans and maintain strong relationships with real estate professionals throughout the region.
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Guild Mortgage Company - Mississippi Division
Guild Mortgage Company
Guild Mortgage maintains a strong Mississippi presence with local loan officers who understand the regional market dynamics. They are consistently rated among the top mortgage lenders for their wide range of loan products and exceptional customer service. Guild specializes in finding creative solutions for complex financial situations and offers unique programs like their Zero Down Payment option. Their local team provides personalized guidance through the entire mortgage process, from application to closing, with a focus on making homeownership accessible.
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Frequently Asked Questions
Common questions about mortgage lending in Little Rock, MS
What are the current average mortgage rates for homebuyers in Little Rock, MS?
Mortgage rates in Little Rock, MS, are typically slightly higher than the national average due to the rural nature of the area and a smaller lending market. As of late 2023, you can expect average 30-year fixed rates to be around 0.25% to 0.5% higher than in major metropolitan areas. It's crucial to shop around with local credit unions and regional banks for the most competitive offers.
Are there any first-time homebuyer programs specific to Little Rock, MS?
Yes, the Mississippi Home Corporation (MHC) offers the "MCC" (Mortgage Credit Certificate) and "HDA" (Homebuyer Downpayment Assistance) programs, which are accessible to eligible buyers in Little Rock. These programs can provide a federal tax credit and down payment assistance, making homeownership more affordable for qualifying first-time buyers with moderate incomes.
How does the rural location of Little Rock, MS, affect my mortgage options?
Little Rock's rural designation can actually be beneficial for some buyers. You may qualify for a USDA loan, which requires no down payment and is specifically designed for low-to-moderate income households in eligible rural areas like Little Rock. This can be a significant advantage over conventional loans that typically require a 3-5% down payment.
What is the typical down payment required for a home in Little Rock, MS?
While conventional loans often require 3-5% down, many Little Rock buyers utilize government-backed loans like FHA (3.5% down) or USDA (0% down) due to the area's eligibility. With median home prices around $120,000-$150,000, down payments can be relatively manageable compared to national averages, making homeownership accessible with proper planning.
Are there any local property tax considerations I should know about when getting a mortgage in Little Rock?
Yes, Little Rock homeowners benefit from Mississippi's relatively low property tax rates, which average around 0.80% of assessed value in Carroll County. However, you should factor in that Mississippi doesn't offer homestead exemptions for property tax relief like some states, so your monthly mortgage payment will include property taxes based on the full assessed value of your home.
Why Choose a Mortgage Lender in Little Rock?
Local Market Knowledge
Lenders who understand Little Rock'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 Little Rock and get competitive rates on your home loan.