Mississippi VA Loans
Whether you receive PCS orders to relocate to Mississippi or are already a resident, purchasing a home can be a great financial move. Using a VA loan in Mississippi has many benefits for seasoned and first-time homebuyers alike.
With the average listing price of a home in Mississippi landing at $278,274, the VA loan’s signature $0-money-down benefit is a considerable advantage for Mississippi homebuyers.
See also: VA Loan Options for Other States
How to get a VA Loan in Mississippi
VA loans are made by private lenders and guaranteed by the Department of Veterans Affairs. Because private lenders make the loans and not the VA, you need to find a lender licensed in the state you plan to purchase or refinance.
For example, if you're purchasing a home in Biloxi, MS, you'll need to find a lender licensed in Mississippi to do the loan.
Other Considerations for Getting a VA Loan in Mississippi
VA borrowers in Mississippi should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.
Mississippi VA Loan Limits
VA borrowers in Mississippi with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.
However, veterans without their full VA loan entitlement are still bound to Mississippi’s VA loan limits.
As of January 1, 2024, VA loan limits for all counties in Mississippi are $766,550.
Property Taxes in Mississippi
Another consideration for VA buyers in Mississippi is property taxes. For certain VA buyers, there are exemptions.
You may be eligible for a property tax exemption in Mississippi if you meet one of the following conditions:
- If you are 65 years old or older and disabled upon application with proof of eligibility.
- Any veterans having a service-connected, total disability; who have been honorably discharged from military service.
- Extends to un-remarried surviving spouses of said veterans.
If you are required to pay property tax in Mississippi, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:
| County | Property Tax Rate |
|---|---|
| Adams County | 0.83% |
| Alcorn County | 0.69% |
| Amite County | 0.58% |
| Attala County | 0.89% |
| Benton County | 0.55% |
| Bolivar County | 0.93% |
| Calhoun County | 0.99% |
| Carroll County | 0.80% |
| Chickasaw County | 1.01% |
| Choctaw County | 0.49% |
| Claiborne County | 0.82% |
| Clarke County | 0.64% |
| Clay County | 0.68% |
| Coahoma County | 1.24% |
| Copiah County | 0.62% |
| Covington County | 0.57% |
| DeSoto County | 0.77% |
| Forrest County | 0.94% |
| Franklin County | 0.64% |
| George County | 0.75% |
| Greene County | 0.83% |
| Grenada County | 0.85% |
| Hancock County | 0.68% |
| Harrison County | 0.76% |
| Hinds County | 1.05% |
| Holmes County | 0.94% |
| Humphreys County | 1.03% |
| Itawamba County | 0.81% |
| Jackson County | 0.83% |
| Jasper County | 0.83% |
| Jefferson County | 0.84% |
| Jefferson Davis County | 0.65% |
| Jones County | 0.85% |
| Kemper County | 0.54% |
| Lafayette County | 0.76% |
| Lamar County | 0.73% |
| Lauderdale County | 0.98% |
| Lawrence County | 0.69% |
| Leake County | 0.69% |
| Lee County | 0.81% |
| Leflore County | 1.12% |
| Lincoln County | 0.76% |
| Lowndes County | 0.57% |
| Madison County | 0.73% |
| Marion County | 0.77% |
| Marshall County | 0.87% |
| Monroe County | 0.80% |
| Montgomery County | 0.86% |
| Neshoba County | 0.83% |
| Newton County | 0.80% |
| Noxubee County | 0.90% |
| Oktibbeha County | 0.89% |
| Panola County | 0.79% |
| Pearl River County | 0.72% |
| Perry County | 0.69% |
| Pike County | 0.83% |
| Pontotoc County | 0.67% |
| Prentiss County | 0.77% |
| Quitman County | 1.00% |
| Rankin County | 0.67% |
| Scott County | 0.87% |
| Sharkey County | 1.07% |
| Simpson County | 0.69% |
| Smith County | 0.55% |
| Stone County | 0.73% |
| Sunflower County | 1.22% |
| Tallahatchie County | 0.93% |
| Tate County | 0.97% |
| Tippah County | 0.76% |
| Tishomingo County | 0.52% |
| Tunica County | 0.45% |
| Union County | 0.73% |
| Walthall County | 0.69% |
| Warren County | 0.73% |
| Washington County | 0.94% |
| Wayne County | 0.65% |
| Webster County | 0.72% |
| Wilkinson County | 0.78% |
| Winston County | 0.72% |
| Yalobusha County | 0.69% |
| Yazoo County | 0.92% |
How VA Loans Work in Mississippi
View the graphic below to learn more about how VA loans work in Mississippi.
