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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

See rates
on Better's secure site
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.

Best marketplace

LendingTree

See rates
on LendingTree's secure site
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.

Best for first-time homebuyers

Rocket Mortgage

See rates
on Rocket Mortgage's secure site
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.

Best for low rates

Bank of America

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.

Best for refinancing

Freedom Mortgage

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.

Best for a wide range of credit scores

Fairway Independent

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.

Best regional lender

BancorpSouth

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.

Trustmark National Bank

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.

Best for customer service

BankPlus

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.

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

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
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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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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