The Best Mortgage Lenders in Lumberton, MS
Compare verified mortgage lenders serving Lumberton, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lumberton
Featured Mortgage Lenders
Renasant Bank Mortgage
Renasant Bank
Renasant Bank stands as the premier local banking institution in Lumberton with deep community roots spanning over a century. Their mortgage division receives exceptional ratings for personalized service and competitive local rates. As a community-focused bank with physical branches throughout Mississippi, they offer the advantage of face-to-face consultations and local underwriting decisions. Customers consistently praise their knowledgeable loan officers who understand the unique aspects of rural Mississippi property financing and provide tailored solutions for first-time homebuyers and existing homeowners alike.
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Trustmark National Bank Mortgage
Trustmark National Bank
Trustmark National Bank maintains a strong physical presence in Lumberton and throughout southern Mississippi, offering comprehensive mortgage services with local decision-making authority. With over 130 years of banking experience, they provide exceptional stability and reliability in mortgage lending. Their mortgage specialists are praised for guiding borrowers through the entire process with transparency and expertise, particularly valued for USDA rural development loans which are highly relevant to the Lumberton area. Trustmark's commitment to community banking combined with robust financial resources makes them a top choice for area residents.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage has established an outstanding reputation throughout Mississippi for exceptional customer service and efficient loan processing. While not headquartered in Lumberton, they maintain strong regional presence and consistently receive top ratings for their digital mortgage experience combined with local expertise. Specializing in both purchase and refinance transactions, they're particularly noted for their rapid closing times and seamless online application process. Movement's loan officers have extensive experience with Mississippi rural property financing and offer highly competitive rates with various loan programs suitable for Lumberton homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Lumberton, MS
What are the current average mortgage rates for homebuyers in Lumberton, MS?
Mortgage rates in Lumberton typically align with national averages but can vary based on local lender competition and individual borrower qualifications. Currently, 30-year fixed rates in the Lumberton area range from 6.5% to 7.25%, with local credit unions like Magnolia Federal Credit Union often offering competitive rates. It's advisable to compare offers from multiple local lenders as rates can differ by 0.25% or more between institutions.
Are there any first-time homebuyer programs specifically available in Lumberton?
Yes, Lumberton residents can access the Mississippi Home Corporation's Home in 5 program, which offers down payment assistance and competitive interest rates for first-time buyers. Additionally, the USDA Rural Development loan program is particularly relevant for Lumberton given its rural designation, offering 100% financing with no down payment required for eligible borrowers in this area.
How does Lumberton's rural location affect mortgage options and requirements?
Lumberton's rural classification makes many properties eligible for USDA loans, which require no down payment and have more flexible credit requirements. However, some lenders may require additional property inspections for rural homes, particularly for well and septic systems. The limited number of local appraisers can sometimes extend closing timelines by 1-2 weeks compared to urban areas.
What are the typical closing costs for mortgages in Lumberton, MS?
Closing costs in Lumberton typically range from 2% to 5% of the home's purchase price, with lender fees, title insurance, and recording fees being the primary components. Lamar County's recording fees and transfer taxes are generally lower than state averages, helping keep costs manageable. Many local lenders offer programs that allow sellers to contribute up to 3-6% of the sale price toward buyer's closing costs.
Are there any local property tax considerations that affect mortgage lending in Lumberton?
Lamar County property taxes are relatively low compared to national averages, currently around 0.6% of assessed value annually. Lumberton homeowners may qualify for Mississippi's homestead exemption, which exempts the first $7,500 of assessed value from taxes for primary residences. Lenders will factor these favorable tax rates into your debt-to-income ratio calculations, potentially increasing your purchasing power.
Why Choose a Mortgage Lender in Lumberton?
Local Market Knowledge
Lenders who understand Lumberton'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 Lumberton and get competitive rates on your home loan.