The Best Mortgage Lenders in Stonewall, MS
Compare verified mortgage lenders serving Stonewall, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stonewall
Featured Mortgage Lenders
Guild Mortgage Company
Guild Mortgage Company - Meridian Branch
Guild Mortgage has established itself as one of Mississippi's top mortgage lenders with a strong presence in the Meridian area serving Stonewall and surrounding communities. They specialize in rural home loans and USDA loans which are particularly relevant for Stonewall residents. With exceptional customer service ratings and competitive rates, they offer personalized mortgage solutions with local underwriting and processing. Their experienced loan officers have deep knowledge of Mississippi's rural housing market and provide comprehensive guidance through the entire mortgage process.
Loan Types:
Keesler Federal Credit Union
Keesler Federal Credit Union
As Mississippi's largest credit union, Keesler Federal serves members across the state including Stonewall residents. They offer exceptionally competitive mortgage rates for members and have specialized programs for rural Mississippi homebuyers. Their mortgage team provides personalized service with local decision-making and offers unique benefits like rate matching and flexible underwriting. With strong community roots and extensive experience serving Mississippi families, they consistently receive high marks for customer satisfaction and loan processing efficiency.
Loan Types:
The Citizens Bank of Philadelphia
The Citizens Bank of Philadelphia - Mortgage Division
This community-focused bank has served east-central Mississippi for over a century and has extensive experience with rural property financing in areas like Stonewall. They offer local underwriting and decision-making with deep understanding of the region's real estate market. Specializing in construction loans and rural development loans, they provide personalized service with competitive rates and flexible terms. Their mortgage team maintains strong relationships with local real estate professionals and offers comprehensive guidance through the homebuying process with particular expertise in rural property financing.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Stonewall, MS
What are the current average mortgage rates for homebuyers in Stonewall, MS?
Mortgage rates in Stonewall typically align with national averages but can be slightly lower due to Mississippi's affordable housing market. As of 2024, conventional 30-year fixed rates in the area generally range from 6.5% to 7.25%, though individual rates depend on credit score and loan type. Local lenders like Community Bank of Mississippi often offer competitive rates specifically for Stonewall residents.
Are there any first-time homebuyer programs specifically available in Stonewall?
Yes, Stonewall homebuyers can access the Mississippi Home Corporation's Mortgage Credit Certificate program, which provides a federal tax credit. Additionally, the Smart6 Plus loan program offers below-market interest rates and down payment assistance for qualifying Stonewall residents. These programs are particularly beneficial given Stonewall's median home prices around $150,000.
How does Stonewall's rural location affect mortgage lending requirements?
Stonewall's rural designation allows borrowers to qualify for USDA loans, which require no down payment for eligible properties. Many homes in the Stonewall area qualify for these USDA Rural Development loans, making homeownership more accessible. Local lenders are familiar with the specific property requirements and income limits that apply to Stonewall's rural classification.
What special considerations should I know about when getting a mortgage for older homes in Stonewall?
Many Stonewall homes were built before 1978, so FHA 203(k) renovation loans are popular for addressing lead-based paint and other age-related issues. Local appraisers are experienced with valuing historic properties common in Stonewall's older neighborhoods. It's wise to budget for additional inspections when purchasing older homes in the area.
Are there local down payment assistance programs available for Stonewall homebuyers?
Yes, the Mississippi Home Corporation offers down payment assistance through its HDA Preferred and HDA Advantage programs, which Stonewall residents can access. These programs provide up to $8,000 in down payment assistance as a second mortgage with 0% interest. Local credit unions like Keesler Federal also offer special first-time buyer programs with reduced down payment requirements.
Why Choose a Mortgage Lender in Stonewall?
Local Market Knowledge
Lenders who understand Stonewall'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 Stonewall and get competitive rates on your home loan.