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9 best mortgage lenders in Mississippi

Looking to buy a home in Mississippi? Here are the best mortgage lenders in the Magnolia State.

From Gulfport to Jackson and Southaven to Hattiesburg, Mississippi is home to some of the South’s best real estate. If you’re hoping to set down roots along the Mississippi River, near the Gulf of Mexico or by any of the state’s many national forests, the best mortgage lenders in Mississippi can help make your dreams of homeownership come true.

What are the best mortgage lenders in Mississippi?

How we pick mortgage lenders

Finder selected these lenders based on several factors, including their fees, requirements, interest rates and website features. We also considered customer reviews from Zillow, Trustpilot and the Better Business Bureau (BBB), among other sites. Learn more about Finder’s rating methodology.

Best online experience

Better

Better logo
Go to site
at Better's secure site
Read review
620
Min. credit score
3%
Min. down payment
Although many of the best Mississippi mortgage lenders have websites that work well on tablets, mobile phones and traditional computers, few of these sites are as smooth as Better. Regardless of what size screen you use, you’re likely to find Better’s online presence more intuitive than the other lenders on this list. Better can also price-match other lenders if you happen to find a more appealing rate from a competitor, and Better waives origination fees on some of its mortgage programs.
  • Polished website. Better&rsquo
  • s website works well on any size screen, and people new to the home-buying process are likely to feel at ease with the intuitive application.
  • No origination fee. Many lenders on this list charge origination fees or application fees for home loans, but Better doesn&rsquo
  • t.
  • Price-matches competitors. If a different lender approves you for a lower mortgage rate or more attractive terms, Better will match the company&rsquo
  • s offer or give you $100.
  • Fewer types of loans. This lender doesn&rsquo
  • t provide government-backed VA or USDA loans.
  • No app. Most lenders on this list have dedicated apps, but Better only has a website.
  • No brick-and-mortar branches. Better doesn&rsquo
  • t have any physical locations, so you can&rsquo
  • t meet with a loan officer in person.
Loan types Conventional, Jumbo, FHA, Refinance
Minimum credit score Refinance: 680
All other loans: 620
Minimum down payment (Conventional) 3%
States available Not available in: HI, MA, MN, NV, NH, VT, VA

Best marketplace

LendingTree

LendingTree logo
Go to site
at LendingTree's secure site
Read review
620
Min. credit score
3%
Min. down payment
LendingTree is a mortgage marketplace — not a direct lender like the other companies on this list. The difference is that LendingTree gives you an overview of several mortgage lenders in Mississippi all at once. Simply answer a few questions on LendingTree’s site, then you’ll see a list of lenders and their respective rates. This perspective allows you to quickly compare multiple lenders to determine which one best meets your needs. LendingTree can save you time when shopping for a mortgage in Mississippi, but the company will also share your contact information with third parties — so prepare for some unsolicited calls and emails.
  • Extensive portfolio of lenders. LendingTree features rates from more than 500 mortgage lenders.
  • No fees. LendingTree is free to use, and the lenders on the site won&rsquo
  • t ask for any upfront payments.
  • Useful notifications. LendingTree will let you know when mortgage rates in Mississippi drop.
  • Unsolicited contacts. LendingTree shares your contact information with third-parties, which may call or email you.
  • Hard credit inquiry. LendingTree will pull your full credit history, which will knock a few points off your credit score and stay on your credit report for up to two years.
Loan types Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Minimum credit score Conventional: 620
FHA: 500
VA: 620
USDA: 640
Jumbo: 800
Minimum down payment (Conventional) 3%
States available Available in all states

Best for first-time homebuyers

Rocket Mortgage

Rocket Mortgage logo
Go to site
at Rocket Mortgage's secure site
Read review
620
Min. credit score
3%
Min. down payment
Buying a home can seem like an overwhelming process if you’ve never done it before. Fortunately, Rocket Mortgage by Quicken Loans takes the hassle out of the process by giving you a conditional prequalification in as little as 10 minutes. This lender also offers more home loan programs than many other lenders in Mississippi, and even if your FICO score is around 580, you can still qualify for a home loan through this lender.
  • Rapid service. Receiving a conditional prequalification from Rocket Mortgage only takes a few minutes, and your home loan could close in less than one week in a best-case scenario.
  • More flexibility. Rocket Mortgage gives you added control over your monthly payment by offering you more flexibility with your home loan&rsquo
  • s terms.
  • No penalty for prepayment. Some lenders on this list will assess an additional fee if you pay off your mortgage early, but Rocket Mortgage won&rsquo
  • t.
  • Deposit fee. Not all Mississippi mortgage lenders charge application fees, but Rocket Mortgage will ask for $400 to $750 to process your mortgage.
  • Some loan types aren&rsquo
  • t available. Rocket Mortgage doesn&rsquo
  • t provide loans for mobile homes or new construction.
  • No physical locations. Rocket Mortgage doesn&rsquo
  • t have any brick-and-mortar branches, so you won&rsquo
  • t be able to meet with a loan officer in person.
Loan types Conventional, Jumbo, FHA, VA, Refinance
Minimum credit score Conventional: 620
FHA: 580
VA: 620
Jumbo: 700
Minimum down payment (Conventional) 3%
States available Available in all states

Best for low rates

Bank of America

620
Min. credit score
3%
Min. down payment
For many aspiring homebuyers in Mississippi, choosing the right lender comes down to identifying which one will offer you the lowest mortgage rate. And compared to other lenders in the state, Bank of America tends to have the lowest rates around. So if your goal is to pay the least amount of interest possible, Bank of America is an excellent place to start looking.
  • Low rates. BofA tends to offer lower interest rates than most other lenders in Mississippi.
  • Alternative credit data is OK. If you don&rsquo
  • t have a strong credit score, BofA will consider factors such as your rent and utility bills when determining your eligibility for a mortgage in Mississippi.
  • Discounts for existing customers. You could save up to $600 on your loan&rsquo
  • s origination fee if you already have a credit card, savings account or checking account with BofA.
  • Mixed reviews. BofA has mostly positive reviews on Zillow, but the company only has a rating of 2.3 out of 5 on WalletHub, with numerous complaints about the company&rsquo
  • s customer service.
  • Troubling history. In the wake of the 2008 financial crisis, BofA was required to pay $76 billion in fines for misleading investors about mortgages.
Loan types Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Minimum credit score Conventional: 620
FHA: 600
Minimum down payment (Conventional) 3%
States available Available in all states

Best for refinancing

Freedom Mortgage

620
Min. credit score
3%
Min. down payment
Some lenders exclusively help aspiring homeowners buy places to live, but others, such as Freedom Mortgage, allow existing homeowners to reduce their monthly mortgage payments by refinancing. When you refinance through Freedom Mortgage, you can save on interest and modify your loan terms. And Freedom Mortgage offers a variety of refinancing options for conventional and government-backed home loans.
  • Several refinancing programs. Freedom Mortgage offers streamline refinances for VA, FHA and USDA home loans, plus rate-and-term refinances for conventional mortgages.
  • Low credit scores are OK. Even if your credit score is 540, you can still get approved for a mortgage.
  • Unsteady income is OK. If you&rsquo
  • re a gig worker whose income varies from month to month, Freedom Mortgage may still approve you for refinancing.
  • No Mississippi branches. Freedom Mortgage doesn&rsquo
  • t have any brick-and-mortar branches in Mississippi, so you can&rsquo
  • t meet with a lender in person.
  • Can&rsquo
  • t apply online. You must call or email a Freedom Mortgage loan officer to apply for a home loan.
Loan types Conventional, Jumbo, FHA, VA, USDA, Refinance
Minimum credit score Conventional: 620
FHA: 540
VA: 580
USDA: 640
Minimum down payment (Conventional) 3%
States available Available in all states

Best for a wide range of credit scores

Fairway Independent

620
Min. credit score
3%
Min. down payment
Based in Madison, Wisconsin and founded in 1996, Fairway Independent Mortgage Corporation is a nationwide lender that provides a wide range of mortgage programs, including some specialty options most other lenders don’t offer. And unlike some lenders in Mississippi, Fairway doesn’t require high credit scores to get approved. Indeed, applicants with credit scores as low as 580 can get approved for VA and FHA loans.
  • Specialized mortgages. Fairway provides customized mortgage programs for educators, healthcare workers and medical professionals.
  • Added options. In addition to offering most standard types of mortgages, Fairway Independent also provides reverse mortgages and renovation mortgages.
  • Bad credit isn&rsquo
  • t a deal-breaker. Even if your credit score is 580, Fairway may still approve you for a VA or FHA loan.
  • Preapproval may negatively affect your credit. Fairway Independent conducts hard credit inquiries, which will hurt your credit score even if you don&rsquo
  • t get approved.
  • Hidden details. You won&rsquo
  • t find too many details about the fees Fairway Independent charges on the company&rsquo
  • s website.
  • Limited locations. This lender only has four physical branches in Mississippi, which might not be great if you&rsquo
  • re hoping for in-person service.
Loan types Conventional, Jumbo, FHA, VA, USDA, Refinance, Reverse
Minimum credit score Conventional: 620
VA: 580
FHA: 580
Minimum down payment (Conventional) 3%
States available Available in all states

Best regional lender

BancorpSouth

BancorpSouth logo
620
Min. credit score
3%
Min. down payment
Most of the lenders on this list are licensed in all 50 states, but that doesn’t necessarily mean they’re better than smaller lenders that only operate in certain states. BancorpSouth, for instance, is only licensed in a handful of Southern states, including Mississippi, where it was founded in the back of a hardware store in 1876. But BancorpSouth offers all major mortgage programs, which none of the other lenders on this list do. Plus, BancorpSouth also provides several other specialty programs that competitors can’t match.
  • Mortgage programs. Unlike the other lenders on this list, BancorpSouth offers all major mortgage types plus home-improvement loans.
  • Right@Home. This specialized mortgage program features reduced closing costs and down-payment assistance for low- to moderate-income homebuyers.
  • Mixed reviews. Based on 222 reviews on WalletHub, BancorpSouth has a rating of 3.3 out of 5 with several one-star reviews specifically about the bank&rsquo
  • s mortgage programs.
  • Must work with an agent. Some lenders on this list can approve you for a mortgage online, but BancorpSouth requires you to work with a loan officer.
  • No chat support. If you have any questions about your mortgage, you can call or email a support representative, but you can&rsquo
  • t chat with one online.
  • Incomplete FAQ. BancorpSouth&rsquo
  • s FAQ page contains an unanswered question about the mortgage fees this lender charges.
Loan types Conventional, Jumbo, FHA, USDA, HELOC, Refinance
Minimum credit score No information available, but most lenders require at least a 620 FICO score for conventional loans
Minimum down payment (Conventional) 3%
States available Only available in: AL, AR, FL, GA, LA, MO, MS, TN, TX

Most popular lender

Trustmark National Bank

Trustmark National Bank logo
620
Min. credit score
0%
Min. down payment
Headquartered in Jackson and founded in 1889, Trustmark National Bank is a full-service financial institution and the most popular mortgage lender in Mississippi. Trustmark has dozens of branches throughout the state, and it offers competitive rates on fixed and adjustable mortgages, construction financing and government-backed home loans. Trustmark also provides special programs for borrowers with bad credit and low income, but the company has few online reviews, so it’s tough to tell if customers are satisfied.
  • Special programs. This lender&rsquo
  • s Home Advantage, Home Advantage PLUS and True Advantage mortgages make homeownership more accessible for borrowers with a low to moderate income.
  • Low credit scores are OK. Even if your credit score is 575, Trustmark may still approve you for a home loan.
  • Foreclosed properties. If you&rsquo
  • ve yet to find a house that meets your needs, one of Trustmark&rsquo
  • s bank-owned properties might be just what you&rsquo
  • re looking for.
  • Few online reviews. Compared to other lenders on this list, Trustmark has relatively few customer reviews, making it difficult to determine if this bank&rsquo
  • s service is any good.
Loan types Conventional, Jumbo, Refinance, FHA, VA, USDA, HELOC
Minimum credit score 620 for Conventional
Minimum down payment (Conventional) 0%
States available Only available in: AL, FL, MS, TN, TX

Best for customer service

BankPlus

620
Min. credit score
3%
Min. down payment
Headquartered in Belzoni and founded in 1909, BankPlus is among the oldest mortgage lenders in Mississippi. And if customer service is important to you, BankPlus is an excellent choice because it has a strong physical presence throughout the state, and its online presence is equally robust. This lender’s website features plenty of helpful resources, and you can chat with an agent six days a week. And according to the Consumer Financial Protection Bureau, relatively few BankPlus customers have filed complaints against the company.
  • Accessibility. BankPlus has roughly 60 locations throughout Mississippi
  • Live chat. You can chat with loan officers online outside of business hours.
  • Mortgage diversity. BankPlus provides loans for residential construction, land/lot acquisition and long-term residential properties.
  • Vague website. BankPlus&rsquo
  • s website doesn&rsquo
  • t contain many specific details regarding costs associated with its mortgage programs.
Loan types Conventional, Jumbo, FHA, VA, USDA, Home Equity/HELOC, Refinance
Minimum credit score Conventional: 620
Minimum down payment (Conventional) 3%
States available Only available in: AL, LA, MS

How do I choose the best lender for me?

Choosing the right mortgage lender in Mississippi can take some serious time. But you’ll be more likely to get competitive terms with a lender you like by keeping these tips in mind:
  • Read every review. Check websites such as Zillow, Trustpilot and the BBB to evaluate potential lenders before contacting them.
  • Collect a few preapprovals. The more pre-approvals you receive from competing lenders, the more likely it will be that you’ll get the best rate.
  • Always negotiate. Rather than accepting the rates presented to you, ask if there’s any wiggle room to reduce it by a few tenths of a point.
  • Never sign anything you haven’t read. Reading legal paperwork is rarely fun, but remember your finances are on the line, so pore over every word before putting your signature on anything.

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo, Refinance
AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV
660
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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Compare up to 4 providers

Average rates and fees in Mississippi

As of November 23, 2020, the average 30-year fixed-mortgage rate in the US is 2.95%, but it’s currently slightly lower in Mississippi. According to the Consumer Financial Protection Bureau (CFPB), the mortgage rate on 30-year fixed-rate mortgages in Mississippi average 2.875%. And according to 2019 data from ClosingCorp, Mississippi closing costs averaged 1.14% of the sales price, which is much lower than costs in several other states.

Should I work with a broker?

Except for LendingTree’s mortgage marketplace, all the companies on this list are direct lenders that can approve and finance your mortgage. Yet comparing each of your options can take a ton of time, which is why many people work with mortgage brokers to find the best deal.

Mortgage brokers can do the legwork for you and match you with a reputable lender. Unfortunately, not all brokers have your best interests in mind. Some may charge you unnecessary fees to boost their bottom lines. To identify a broker you can trust, read as many recent customer reviews as you can find.

Bottom line

The best mortgage lenders in Mississippi each have their own strengths and weaknesses, and not all of them are likely to be a good match for you. Carefully consider what they each have to offer, and apply for a mortgage with the lender that seems best suited for your situation. And if you’d like to keep exploring your options, compare other popular mortgage lenders in Mississippi.

Frequently asked questions

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.

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