The Best Mortgage Lenders in Victoria, MS
Compare verified mortgage lenders serving Victoria, Mississippi. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Victoria
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service, competitive rates, and extensive loan options. With over 28 years of experience, they have a strong regional presence in Mississippi, including service to Victoria. They are praised for their personalized approach, fast processing times, and high customer satisfaction, making them a reliable choice for homebuyers in the area.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage is highly regarded for its innovative technology and commitment to community service. With 16 years in the business, they offer a wide range of mortgage products and have a solid reputation for transparency and efficiency. Their local loan officers in Oxford serve Victoria residents, providing competitive rates and excellent support throughout the homebuying process.
Loan Types:
New American Funding
New American Funding
New American Funding is a trusted lender with over two decades of experience, offering diverse loan programs and a focus on underserved communities. They have a strong presence in Mississippi and are known for their competitive rates, flexible terms, and outstanding customer reviews. Serving Victoria from their Oxford branch, they provide personalized service and quick loan approvals.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Victoria, MS
What are the current mortgage rates like for homes in Victoria, MS?
Mortgage rates in Victoria typically align with national averages but can be slightly higher due to the rural nature of the area and smaller local lending market. As of recent trends, you can expect conventional 30-year fixed rates to be in the range of 6.5% to 7%, but it's best to check with local Mississippi lenders like Magnolia State Bank or Community Bank for the most accurate, personalized rates.
Are there any first-time homebuyer programs specific to Victoria or Covington County?
Yes, the Mississippi Home Corporation (MHC) offers the "Home in 5" and "MCC" (Mortgage Credit Certificate) programs, which are accessible to Victoria residents. These programs provide down payment assistance and tax credits, making homeownership more affordable for first-time buyers in our area. Additionally, some local credit unions may have special programs for Covington County residents.
How does Victoria's rural location affect the mortgage approval process?
Victoria's rural setting can sometimes mean stricter appraisal requirements, as comparable home sales may be limited in the immediate area. Lenders might require appraisers to look at properties in broader Covington County or nearby towns like Collins. It's important to work with a lender experienced in rural Mississippi properties to navigate these potential hurdles smoothly.
What types of properties in Victoria qualify for USDA rural housing loans?
Most properties in Victoria qualify for USDA loans since it's designated as a rural area by the USDA. This includes single-family homes, condos, and manufactured homes (if they meet specific requirements) located within the Victoria zip code. USDA loans are particularly attractive here as they offer 100% financing with no down payment required for eligible borrowers.
Are property taxes in Victoria typically included in mortgage escrow accounts?
Yes, most lenders in Victoria will require your property taxes to be included in your monthly mortgage payment through an escrow account. Covington County property taxes are relatively low compared to urban areas, typically ranging from 0.5% to 0.8% of home value, which helps keep your overall monthly payment affordable. Your lender will calculate this based on the specific property's assessed value.
Nearby Cities
Explore mortgage lenders in cities near Victoria, MS
Why Choose a Mortgage Lender in Victoria?
Local Market Knowledge
Lenders who understand Victoria'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 Victoria and get competitive rates on your home loan.