Vicksburg remains one of the last affordable river cities in the South. Median sale price as of June 2024 is $162,000, up 6.2 % from last year but still $87,000 below the Mississippi statewide median. Entry-level homes (1,200-1,400 sq ft) in neighborhoods like Kings, Culkin, and northeast Warren County list between $135,000-$150,000 and typically receive two offers within 10 days. Move-up buyers eyeing the historic districts—Garden, Cedar Grove, South Cherry—pay $175-$220 per square foot for 1920s craftsman bungalows, but renovated inventory is scarce; only 42 homes were active city-wide last month.

Investors have shifted focus to long-term rentals after short-term permits were capped; cap rates still average 8.3 % near the casinos. New construction is concentrated in the Warrenton Road corridor where 3-bed/2-bath vinyl-sided homes start at $189,900. Builders are offering up to $7,000 in closing incentives, a cost we can roll into USDA or FHA 30-year fixed loans so clients keep cash for fences and appliances.

Mississippi stacks incentives better than most states, and Vicksburg buyers can layer three programs:

• Smart6 – $6,000 forgivable second mortgage after five years of occupancy; household income under $86,400 and price under $294,770.
• Mississippi Home Corporation Down-Payment Assistance – 3 % of purchase price as a 10-year deferred second at 0 % interest; can be paired with FHA, VA, USDA, or conventional.
• Vicksburg Special Program Grant – HUD block-grant $7,500 for closing or down payment if you buy within city limits and earn ≤ 80 % area median income ($51,200 for a family of four).

Add NMHL’s HomeFund lender credit—up to $2,500 toward appraisal, inspection, or HOA docs—and many buyers walk to the closing table with less than $4,000 total cash. We track grant funding weekly; when Warren County’s allocation is 70 % committed we fast-track pre-approvals so clients don’t miss the window.

Local credit-union decline letters usually cite scores under 640. NMHL sees the full picture. If your middle score is 580-619 we automatically route you to our FHA Express lane: manual underwrite, 3.5 % down, seller can pay up to 6 % of price toward closing. For scores 500-579 you’ll need 10 % down, but we can gift the entire amount from family or an approved nonprofit. We also use Experian Boost and UltraFICO—many Vicksburg residents pick up 25-45 points reporting utility bills from Entergy and Vicksburg Water & Gas.

Recent medical collections? Mississippi follows federal FHA guidelines: we ignore collections under $2,000 and can delete paid medical from your report in 5-7 business days through RapidRescore. BK or foreclosure? FHA only requires two years seasoning; we just closed on Aldens Avenue for a client 25 months out of Chapter 7 with a 615 score and 3.5 % down.

With the Vicksburg VA Clinic and Ergon Corporate HQ employing thousands, veterans make up 11 % of the local population. Zero-down VA loans dominate three pockets:

• Magnolia Bluffs / Riverfront condos – 2-bed/2-bath units, $220-$280 k, HOA handles lawn and roof; perfect for retired sergeants who travel.
• Warrenton & Fisher Ferry Road – New 1,800 sq ft brick homes, $230-$260 k, large lots for boats and RVs; quick hop to US-61 for hunting trips.
• Historic downtown lofts – Converted cotton warehouses, $190-$250 k, walk to casinos and the Lower Mississippi Blues Museum.

Because VA buyers can ask sellers to pay up to 4 % in concessions, we structure offers so the seller covers the buyer’s 1 % VA funding fee (if not exempt) plus taxes and insurance escrow. That keeps cash in your pocket for the inevitable fishing kayak.

River commerce, tourism, and gaming create thousands of 1099 workers—towboat pilots, tour guides, casino dealers, Etsy artisans selling Civil-War-themed candles. Traditional underwriting kills these files because write-offs drop taxable income below qualifying levels. NMHL’s alternative-documentation suite solves it:

• Bank-Statement – Personal or business statements for 12 or 24 months; qualify at 50 % expense ratio; LTVs to 90 % on primary.
• 1099 Only – One year of 1099s, no tax returns; 15 % down, 680 score.
• DSCR – For investor buyers; if rent covers the payment (ratio ≥ 1.0) we ignore personal income. Perfect for Airbnbs near the military park.

Recent example: local tour-company owner showed $42 k on Schedule C; using 24-month bank statements we averaged $10,700 monthly, approved $380 k at 80 % LTV, 7.49 % fixed for 30 years.

Warren County’s millage rate is 110 mills—$1.10 per $100 of assessed value—plus the city tacks on another 22.5 mills. Mississippi assesses residential property at 10 % of true value, so a $200,000 home is taxed on $20,000, yielding roughly $2,650 total before exemptions.

File for the homestead exemption at the Warren County Tax Assessor’s office (1100 Grove St.) by April 1; it shaves off $7,500 of assessed value, saving about $165 annually. Seniors 65 or totally disabled get an additional $75,000 exemption—dropping the taxable assessed value to $117,500 and the tax bill to under $900. Surviving spouses of service members or first responders can claim 100 % exemption.

Because Mississippi does not reassess at sale, your taxes stay relatively stable; annual increases are capped at 10 %. When we pre-approve you we calculate monthly escrow using the current assessed value, not the purchase price, so your payment quote is accurate the first time.