The state line is worth real money
DeSoto County's effective property tax is roughly 0.75% of value a year. Shelby County is around 1.30%. On a $300,000 house that is about $137 a month, every month.
Over thirty years, on the same house at the same price, it is around $49,000. That is the whole reason the corridor between Southaven and Olive Branch grew the way it did.
Which loan usually fits
Southaven proper is largely outside USDA eligible boundaries, though areas around it are not. FHA and conventional are the common routes, and VA where there is entitlement.
Eligibility for USDA is set by address rather than by town, so it is worth checking even here before ruling it out.
Buying across a state line
Mississippi and Tennessee differ on closing practice, taxes and insurance. A lender licensed in both handles it as one transaction rather than an obstacle.
Jason is licensed in seven states including both, which is why this particular move is routine here.
Questions people ask
Why is Southaven cheaper to own than Memphis?
Mostly property tax. DeSoto runs roughly 0.75% of value a year against about 1.30% inside Memphis city limits.
Can I work in Memphis and buy in Southaven?
Very commonly, and it is one of the main reasons people do.
Is Southaven USDA eligible?
Mostly not in the built-up parts, though surrounding areas are. Eligibility is by address.
This is not a commitment to lend. All loans are subject to credit approval, income and asset verification, property appraisal, and program guidelines. Rates, terms, programs and eligibility are subject to change without notice.
Get your numbers
Six questions. Jason answers personally, usually the same day.
Thanks — that is on its way to Jason. He will reach out shortly with your numbers.