Key Terms
- Jumbo loans offer citizens of Mississippi more purchasing power than an FHA mortgage in competitive markets.
- Mississippians taking out a jumbo loan often don’t need big down payments.
- Borrowers can finance a larger or more expensive property with a single jumbo loan.
What is more iconic in American culture than the great Mississippi? The state with the same name has been formed in many ways by this famous river. Trade along the water made the state a financial hub in the South, while the waters made the land some of the most fertile in the region. Mississippi is also the home of the American Blues, making it just as impactful on the arts as it was on trade and commerce.
The cost of enjoying this quality of life is on the rise in this Southern state, however. According to the Mississippi Association of Realtors, the average sales price of a home in Mississippi is $140,642. That number may be below the limits on conventional loans, but many newer and more modern single-family homes are starting to pass those limits in areas like Rankin county.
For the most recent year, the HDMA data places Mississippi 44th in the country in terms of mortgage origination activity, with a total of $463 million in jumbo mortgages originated. If you’re looking for a jumbo mortgage in Mississippi, you’ll be among good company.
What is the jumbo loan limit in Mississippi?
The jumbo loan limit in Mississippi for all counties is $726,200. Any loan that exceeds $726,200 is a jumbo loan in the state of Mississippi. Any loan that is less than $726,200 is a conforming loan in the state of Mississippi.
What are conforming loan limits?
Conforming loan limits are set by the Federal Housing Finance Agency (FHFA), the government agency which oversees Fannie Mae and Freddie Mac, the two home mortgage companies that buy most of the home loans made in the U.S. from mortgage lenders and resell them to private investors.
Mississippi Jumbo Loan Limits (September 2023)
Mississippi county-by-county jumbo loan, conforming loan and FHA loan limits.
Mississippi County | Mississippi Jumbo loan (1-unit) | Mississippi Conforming loan limit (1-unit) | Mississippi FHA loan limit (1-unit) |
---|---|---|---|
Adams | $726,200+ | $726,200 | $420,680 |
Alcorn | $726,200+ | $726,200 | $420,680 |
Amite | $726,200+ | $726,200 | $420,680 |
Attala | $726,200+ | $726,200 | $420,680 |
Benton | $726,200+ | $726,200 | $420,680 |
Bolivar | $726,200+ | $726,200 | $420,680 |
Calhoun | $726,200+ | $726,200 | $420,680 |
Carroll | $726,200+ | $726,200 | $420,680 |
Chickasaw | $726,200+ | $726,200 | $420,680 |
Choctaw | $726,200+ | $726,200 | $420,680 |
Claiborne | $726,200+ | $726,200 | $420,680 |
Clarke | $726,200+ | $726,200 | $420,680 |
Clay | $726,200+ | $726,200 | $420,680 |
Coahoma | $726,200+ | $726,200 | $420,680 |
Copiah | $726,200+ | $726,200 | $420,680 |
Covington | $726,200+ | $726,200 | $420,680 |
Desoto | $726,200+ | $726,200 | $420,680 |
Forrest | $726,200+ | $726,200 | $420,680 |
Franklin | $726,200+ | $726,200 | $420,680 |
George | $726,200+ | $726,200 | $420,680 |
Greene | $726,200+ | $726,200 | $420,680 |
Grenada | $726,200+ | $726,200 | $420,680 |
Hancock | $726,200+ | $726,200 | $420,680 |
Harrison | $726,200+ | $726,200 | $420,680 |
Hinds | $726,200+ | $726,200 | $420,680 |
Holmes | $726,200+ | $726,200 | $420,680 |
Humphreys | $726,200+ | $726,200 | $420,680 |
Issaquena | $726,200+ | $726,200 | $420,680 |
Itawamba | $726,200+ | $726,200 | $420,680 |
Jackson | $726,200+ | $726,200 | $420,680 |
Jasper | $726,200+ | $726,200 | $420,680 |
Jefferson | $726,200+ | $726,200 | $420,680 |
Jefferson Davis | $726,200+ | $726,200 | $420,680 |
Jones | $726,200+ | $726,200 | $420,680 |
Kemper | $726,200+ | $726,200 | $420,680 |
Lafayette | $726,200+ | $726,200 | $420,680 |
Lamar | $726,200+ | $726,200 | $420,680 |
Lauderdale | $726,200+ | $726,200 | $420,680 |
Lawrence | $726,200+ | $726,200 | $420,680 |
Leake | $726,200+ | $726,200 | $420,680 |
Lee | $726,200+ | $726,200 | $420,680 |
Leflore | $726,200+ | $726,200 | $420,680 |
Lincoln | $726,200+ | $726,200 | $420,680 |
Lowndes | $726,200+ | $726,200 | $420,680 |
Madison | $726,200+ | $726,200 | $420,680 |
Marion | $726,200+ | $726,200 | $420,680 |
Marshall | $726,200+ | $726,200 | $420,680 |
Monroe | $726,200+ | $726,200 | $420,680 |
Montgomery | $726,200+ | $726,200 | $420,680 |
Neshoba | $726,200+ | $726,200 | $420,680 |
Newton | $726,200+ | $726,200 | $420,680 |
Noxubee | $726,200+ | $726,200 | $420,680 |
Oktibbeha | $726,200+ | $726,200 | $420,680 |
Panola | $726,200+ | $726,200 | $420,680 |
Pearl River | $726,200+ | $726,200 | $420,680 |
Perry | $726,200+ | $726,200 | $420,680 |
Pike | $726,200+ | $726,200 | $420,680 |
Pontotoc | $726,200+ | $726,200 | $420,680 |
Prentiss | $726,200+ | $726,200 | $420,680 |
Quitman | $726,200+ | $726,200 | $420,680 |
Rankin | $726,200+ | $726,200 | $420,680 |
Scott | $726,200+ | $726,200 | $420,680 |
Sharkey | $726,200+ | $726,200 | $420,680 |
Simpson | $726,200+ | $726,200 | $420,680 |
Smith | $726,200+ | $726,200 | $420,680 |
Stone | $726,200+ | $726,200 | $420,680 |
Sunflower | $726,200+ | $726,200 | $420,680 |
Tallahatchie | $726,200+ | $726,200 | $420,680 |
Tate | $726,200+ | $726,200 | $420,680 |
Tippah | $726,200+ | $726,200 | $420,680 |
Tishomingo | $726,200+ | $726,200 | $420,680 |
Tunica | $726,200+ | $726,200 | $420,680 |
Union | $726,200+ | $726,200 | $420,680 |
Walthall | $726,200+ | $726,200 | $420,680 |
Warren | $726,200+ | $726,200 | $420,680 |
Washington | $726,200+ | $726,200 | $420,680 |
Wayne | $726,200+ | $726,200 | $420,680 |
Webster | $726,200+ | $726,200 | $420,680 |
Wilkinson | $726,200+ | $726,200 | $420,680 |
Winston | $726,200+ | $726,200 | $420,680 |
Yalobusha | $726,200+ | $726,200 | $420,680 |
Yazoo | $726,200+ | $726,200 | $420,680 |
2 Top Mississippi jumbo loan lenders
If you’re ready to learn more about the best jumbo mortgage lenders in Mississippi, here are the top options we’ve found through our research.
1. Flagstar Bank
Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many homeowners looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.
We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage rates. Here are the highlights:
- Loan amounts up to $3 million on primary residences
- Loan amounts up to $2.5 million on second homes
- Purchase and rate/term refinance rate options available on primary residences and second homes
- No prepayment penalties
- First-time homebuyers permitted
- No mortgage insurance premiums, resulting in lower monthly payments
- Cash-out refinancing options available on primary residence depending on home equity
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
2. SoFi
SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.
We spoke to a loan officer at SoFi to discuss their jumbo loan options and this is what we learned:
- Loan amounts up to $3 million
- Down payments start at 10% and increase as the loan amount increases.
- No PMI, regardless of your down payment amount.
- 15-year or 30-year fixed rate loan terms available
When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.
Why a jumbo loan in Mississippi? How are they different?
The main distinction between a jumbo loan type and conventional Mississippi mortgage rates is the amount of money they can lend. Conventional mortgages must adhere to what are called “conforming” limits designed to protect both buyers and lenders. These limits, however, mean that Mississippians looking to make larger home purchases need to take out multiple mortgages to cover the price tag of the purchase.
Think of a jumbo loan as several traditional mortgages in one. It lets you finance a home with a single financial product, making for a much easier home buying process overall.
Does a Mississippi jumbo loan make sense for you?
How much are you willing to pay for financing? For some people, the interest rate is always the bottom line. If you don’t mind a higher interest rate and think you’ll get a good return on this “investment,” a jumbo loan may make sense. Interest rates can be higher with jumbo loans meaning you may pay higher mortgage payments, but they do make financing large purchases easier.
How much do you have for a down payment and closing costs? You also do not always need a large down payment with Mississippi jumbo loans. If you want to save your cash and don’t want to drain your savings to make a big down payment, you may well enjoy taking out a jumbo loan. Remember, approval can take time. You will need to go through a thorough approval process, and will also need a solid credit score to take out one of these loans.
Need a jumbo loan in a different state?
If you want to find the best jumbo loans in other states, click on your state below.

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.