Jackson FHA Loan Rates, Closing Costs & Stats

JACKSON, MS

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Jackson's 108 lenders originated 2,022 FHA loans during 2024. The total origination value was $474,320,000, with an average FHA loan value of $234,580.

    Jackson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Jackson averaged 6.8% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Jackson's average FHA mortgage closing costs are $7,067.

    The average rate for the prior week (2025-07-11) was 6.5% and one month ago for the week of 2025-06-13, the average rate was 6.95%.

    The average rate one year ago was 7.02%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.63%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Jackson FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Jackson level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Trustmark National Bank 280 6.37% $8,295
    BancorpSouth 170 6.03% $9,325
    American Mortgage Bank, LLC 142 6.28% $10,180
    QUICKEN LOANS, LLC 129 6.40% $10,444
    UNITED WHOLESALE MORTGAGE, LLC 81 6.19% $11,219
    GUILD MORTGAGE COMPANY 62 6.59% $10,161
    STOCKTON MORTGAGE CORPORATION 53 6.69% $9,700
    Community Bank of Mississippi 52 6.16% $9,341
    Origin Bank 48 6.29% $7,662
    Renasant Bank 36 6.46% $10,056
    PLANET HOME LENDING, LLC 35 6.65% $9,387
    BankPlus 34 6.08% $7,199
    SWBC MORTGAGE CORPORATION 25 6.26% $6,832
    PENNYMAC LOAN SERVICES, LLC 24 5.96% $9,707
    FREEDOM MORTGAGE CORPORATION 23 6.52% $10,846
    Regions Bank 23 6.69% $7,927
    MORTGAGE INVESTORS GROUP, INC. 22 6.61% $8,874
    ACOPIA, LLC 22 6.64% $9,915
    KEESLER 21 5.58% $9,070
    Bank of England 21 6.57% $11,391
    DHI MORTGAGE COMPANY, LTD. 20 5.03% $7,525
    Flagstar Bank, FSB 20 5.86% $10,753
    BROKER SOLUTIONS, INC. 19 7.00% $11,730
    OPEN MORTGAGE, LLC 17 6.73% $8,624
    CROSSCOUNTRY MORTGAGE, LLC 16 6.70% $11,080
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.45% $9,321
    Magnolia Bank 14 6.46% $8,905
    LOANDEPOT.COM, LLC 14 6.66% $10,146
    TOWNE MORTGAGE COMPANY 14 6.88% $8,978
    Carrington Mortgage Services, LLC 14 6.33% $10,707
    Equity Prime Mortgage LLC 12 7.32% $12,424
    EVANSVILLE TEACHERS 11 6.59% $7,652
    FIRST COMMUNITY MORTGAGE, INC. 10 6.53% $10,618
    AmeriHome Mortgage Company, LLC 9 6.22% $8,415
    Ixonia Bank 8 6.77% $12,843
    Mr. Cooper ( Nationstar Mortgage ) 8 6.53% $10,034
    Mortgage Research Center, LLC 8 6.64% $8,584
    UNION HOME MORTGAGE CORP. 8 6.83% $8,956
    Towne Bank 8 6.59% $12,091
    CARDINAL FINANCIAL 7 6.45% $16,259
    AMERISAVE MORTGAGE CORPORATION 6 6.23% $12,530
    FIDELITY BANK 6 6.58% $9,362
    EMM LOANS LLC 6 6.63% $12,735
    MUTUAL OF OMAHA MORTGAGE, INC. 6 6.50% $13,811
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 7.00% $9,812
    American Mortgage & Equity Consultants, Inc. 4 7.28% $11,925
    CORNERSTONE HOME LENDING, INC. 4 7.31% $12,641
    First Horizon Bank 4 6.56% $7,128
    Lakeview Community Capital, LLC 4 6.50% $8,723
    ZILLOW HOME LOANS, LLC 4 6.50% $8,924
    JPMorgan Chase Bank 3 7.17% $8,896
    NBKC BANK 3 6.25% $9,143
    NEWREZ LLC 3 6.42% $8,714
    LAKEVIEW LOAN SERVICING, LLC 3 6.56% $7,686
    Century Mortgage Company DBA Century Lending Company 3 6.92% $17,355
    Wells Fargo Bank 3 6.00% $10,424
    VILLAGE CAPITAL MORTGAGE 3 7.00% $5,746
    Hamilton Mortgage Corporation 3 6.71% $10,703
    Residential Acceptance Corporation 3 7.33% $10,095
    FIRST COLONY MORTGAGE CORPORATION 2 7.50% $12,328
    CIS Financial Services, Inc. 2 6.31% $8,590
    AMERICAN FINANCIAL NETWORK, INC. 2 7.69% $12,858
    GUARANTEED RATE, INC. 2 6.45% $9,081
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.63% $6,501
    ROYAL UNITED MORTGAGE LLC 2 7.13% $8,169
    MID AMERICA MORTGAGE, INC. 2 7.06% $6,487
    SeaTrust Mortgage Company 2 6.19% $8,253
    Eagle Bank and Trust Company 2 6.63% $10,186
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.88% $11,650
    SUN WEST MORTGAGE COMPANY, INC. 2 5.67% $10,072
    Barrington Bank & Trust Company, N.A. 2 7.00% $7,169
    MOVEMENT MORTGAGE, LLC 2 6.81% $9,771
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $7,389
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.25% $11,311
    SOUTHWEST FUNDING, LP 1 6.13% $14,007
    SOUTHWEST STAGE FUNDING, LLC 1 5.38% $9,768
    BARTLETT MORTGAGE, INC. 1 6.25% $10,164
    Texana Bank 1 6.38% $5,720
    The Citizens National Bank of Meridian 1 6.50% $7,212
    The Federal Savings Bank 1 5.75% $31,106
    The Loan Store, Inc. 1 6.49% $17,243
    Bank of America 1 6.13% $9,341
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $8,702
    AMERITRUST MORTGAGE CORPORATION 1 7.75% $7,655
    AMERICAN FINANCING CORPORATION 1 5.38% $21,027
    Hancock Whitney Bank 1 5.63% $12,040
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.25% $8,524
    Home Mortgage Alliance Corp 1 8.25% $5,477
    HOPE FEDERAL CREDIT UNION 1 6.63% $19,478
    GUARANTEED RATE AFFINITY, LLC 1 6.13% $4,171
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.50% $8,771
    Merchants & Marine Bank 1 6.75% $11,296
    FLAT BRANCH MORTGAGE, INC. 1 7.13% $8,114
    First Federal Bank 1 6.25% $8,492
    EVERETT FINANCIAL, INC. 1 6.63% $6,965
    Nations Lending Corporation 1 6.75% $7,656
    OceanFirst Bank 1 5.75% $10,043
    OCMBC, INC. 1 7.13% $8,293
    ENVOY MORTGAGE, LTD 1 6.63% $7,145
    Paramount Residential Mortgage Group, Inc. 1 5.75% $17,728
    COMMUNITY MORTGAGE CORPORATION 1 6.63% $9,264
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $8,430
    Plains Commerce Bank 1 7.00% $4,888
    CMG MORTGAGE, INC. 1 4.99% $18,299
    PLAZA HOME MORTGAGE, INC. 1 5.63% $14,829
    Citizens Bank 1 6.88% $4,159
    Princeton Mortgage Corporation 1 6.25% $13,041
    Centennial Bank 1 7.25% $11,585

    The top Jackson FHA lender as defined by loan originations is Trustmark National Bank, with 280 FHA loans originated. Their average total fees are $8,295, which is $1,030 lower than the next largest lender, BancorpSouth.

    The lowest fee Jackson FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($6,832), BankPlus ($7,199), DHI MORTGAGE COMPANY, LTD. ($7,525), EVANSVILLE TEACHERS ($7,652) and Origin Bank ($7,662).

    The lowest rate Jackson FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.03%), KEESLER (5.58%), Flagstar Bank, FSB (5.86%), PENNYMAC LOAN SERVICES, LLC (5.96%) and BancorpSouth (6.03%).

    Jackson FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    JACKSON, MS COPIAH 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS HINDS 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS HOLMES 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS MADISON 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS RANKIN 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS SIMPSON 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS YAZOO 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS COPIAH 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS HINDS 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS HOLMES 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS MADISON 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS RANKIN 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS SIMPSON 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS YAZOO 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).