The Best Mortgage Lenders in Terry, MS
Compare verified mortgage lenders serving Terry, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Terry
Featured Mortgage Lenders
Hope Credit Union
Hope Credit Union
Hope Credit Union is a highly-rated community-focused lender serving Terry and the broader Mississippi area since 1994. With a 4.6 rating from 150+ reviews, it excels in personalized service, competitive rates, and support for low-to-moderate income borrowers. Its long-standing presence and commitment to local communities make it a top choice for mortgages, including specialized programs like USDA loans for rural areas like Terry.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a nationally recognized lender with a strong local presence in Mississippi, boasting a 4.8 rating from 400+ reviews. Founded in 1996, it offers a wide range of loan options and is praised for its efficient processing, expert guidance, and competitive rates. Serving Terry and surrounding areas, it consistently ranks high for customer satisfaction and reliability.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a top-rated lender with a dedicated office near Terry, MS, and a 4.7 rating from 300+ reviews. Founded in 2008, it emphasizes fast closings, transparent processes, and community engagement. Its local loan officers provide personalized service, making it a preferred choice for borrowers in the region seeking flexible mortgage solutions and excellent customer support.
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Frequently Asked Questions
Common questions about mortgage lending in Terry, MS
What are the current average mortgage rates for homebuyers in Terry, MS?
Mortgage rates in Terry typically align with national averages but can vary based on local lenders and property types. As of recent data, 30-year fixed rates in the area generally range from 6.5% to 7.25%, though first-time buyer programs may offer slightly lower rates. It's best to check with local credit unions like Hope Credit Union or Trustmark for the most current Terry-specific rates.
Are there any first-time homebuyer programs specifically available in Terry?
Yes, Terry homebuyers can access Mississippi's Mortgage Credit Certificate (MCC) program, which provides a federal tax credit. Additionally, the Mississippi Home Corporation offers down payment assistance programs that are accessible to Terry residents. Local lenders often have specific first-time buyer products with reduced down payment requirements.
How does Terry's rural location affect mortgage lending options?
Terry's rural designation makes many properties eligible for USDA loans, which offer 100% financing with no down payment requirement. This is particularly beneficial given Terry's location in Hinds County, where many areas qualify for rural development loans. However, some lenders may have stricter requirements for older rural properties, so property inspections are crucial.
What special considerations should I know about when getting a mortgage for older homes in Terry?
Many Terry homes were built before 1978, so lead-based paint disclosures and potential renovation costs are important factors. Lenders may require additional inspections for older properties, and you might need to budget for updates to meet modern lending standards. Consider FHA 203(k) renovation loans if purchasing a home needing significant repairs.
How do property taxes in Terry impact mortgage payments and affordability?
Hinds County property taxes in Terry are relatively moderate compared to urban areas, typically ranging from 0.8% to 1.2% of assessed value. Your lender will include these taxes in your monthly mortgage payment through an escrow account. First-time homeowners may qualify for homestead exemption, which can reduce your tax burden significantly.
Why Choose a Mortgage Lender in Terry?
Local Market Knowledge
Lenders who understand Terry'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 Terry and get competitive rates on your home loan.