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Mississippi Mortgage Calculator

Use this free Mississippi mortgage calculator to estimate your monthly mortgage payments and annual amortization.

Loan details

%

Monthly payment

$2,119

at 6.92% · 30-year fixed

  • Principal & interest

    $1,584

  • Property taxes

    $375

  • Homeowners insurance

    $160

Loan amount

$240,000

Total interest paid

$330,187

Payoff date

—

YOU'RE KEEPING $13,365

$13,365

stays in your pocket

That's your total savings over 30 years at today's best rate on NerdWallet (6.92%) vs. the 7.15% national average — $37 less every month.

  • Today's best rate: 6.92%

  • Get your free rate with no credit impact

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No impact to your credit score

Calculated payments and savings are estimates. The calculator result does not constitute an offer for a loan and will not solicit a loan offer. Savings will depend on the actual amounts and rate for which you are approved, should you choose to apply.

Getting a Mortgage in Mississippi

Written by 
,  Edited by 
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Last updated November 19, 2025
The cost of a mortgage depends heavily on location, with notable differences from county to county. National averages provide a baseline, but a cost of living calculator comparing everyday expenses paired with local housing data often tell a more useful story.
Mississippi mortgage costs sit firmly below national averages. In Forrest County, home to Hattiesburg, the typical mortgage payment was $1,157 in Q1 2025 for a median-priced home valued at $197,349, according to the National Association of Realtors. By comparison, the national median payment was $2,120 on a median-priced single-family home valued at $402,300.

Mississippi mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate7.301%7.306%
20-year fixed-rate7.221%7.226%
15-year fixed-rate6.523%6.532%
7-year ARM7.636%7.311%
5-year ARM7.375%6.970%
30-year fixed-rate VA6.654%7.000%
Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

7.306%

30-year fixed

Today's mortgage rates in Mississippi are 7.306% for a 30-year fixed, 6.532% for a 15-year fixed, and 6.970% for a 5-year adjustable-rate mortgage (ARM).

Mississippi's first-time home buyer programs

There are several national first-time home buyer programs that may be able to help you get into a home in Mississippi.
» MORE: First-time home buyer programs by state

Average property tax by county

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Mississippi. Because assessed values aren't frequently updated, you may pay a higher rate at first but eventually you'll pay a similar rate.

CountyAvg. property tax rateMedian home value
Adams County0.47%$99,300
Alcorn County0.49%$125,800
Amite County0.37%$91,400
Attala County0.56%$99,100
Benton County0.44%$96,200
Bolivar County0.74%$118,200
Calhoun County0.64%$82,900
Carroll County0.53%$103,700
Chickasaw County0.56%$88,000
Choctaw County0.42%$104,200
Claiborne County0.33%$78,500
Clarke County0.45%$99,300
Clay County0.56%$110,600
Coahoma County0.67%$84,400
Copiah County0.41%$93,600
Covington County0.49%$76,700
DeSoto County0.66%$258,900
Forrest County0.75%$187,700
Franklin County0.36%$96,200
George County0.55%$157,200
Greene County0.62%$97,500
Grenada County0.62%$130,100
Hancock County0.71%$197,400
Harrison County0.62%$206,400
Hinds County0.77%$145,100
Holmes County0.52%$73,900
Humphreys County0.70%$79,900
Issaquena County0.29%$96,300
Itawamba County0.38%$114,300
Jackson County0.73%$173,800
Jasper County0.44%$110,400
Jefferson County0.40%$76,400
Jefferson Davis County0.63%$87,800
Jones County0.74%$149,500
Kemper County0.48%$89,300
Lafayette County0.61%$242,800
Lamar County0.65%$210,100
Lauderdale County0.70%$122,600
Lawrence County0.61%$104,300
Leake County0.56%$98,800
Lee County0.71%$189,700
Leflore County0.87%$95,100
Lincoln County0.57%$128,100
Lowndes County0.51%$155,300
Madison County0.66%$280,300
Marion County0.56%$104,100
Marshall County0.53%$150,400
Monroe County0.55%$109,500
Montgomery County0.58%$97,100
Neshoba County0.52%$94,300
Newton County0.46%$100,800
Noxubee County0.78%$85,000
Oktibbeha County0.66%$211,200
Panola County0.64%$115,800
Pearl River County0.57%$167,700
Perry County0.46%$126,400
Pike County0.64%$115,900
Pontotoc County0.53%$136,700
Prentiss County0.48%$112,200
Quitman County0.57%$65,500
Rankin County0.60%$221,900
Scott County0.52%$81,300
Sharkey County0.89%$88,100
Simpson County0.52%$104,600
Smith County0.36%$120,200
Stone County0.45%$164,400
Sunflower County0.57%$103,800
Tallahatchie County0.47%$83,400
Tate County0.63%$163,700
Tippah County0.55%$117,100
Tishomingo County0.35%$123,100
Tunica County0.43%$150,800
Union County0.46%$144,900
Walthall County0.57%$113,800
Warren County0.51%$142,100
Washington County0.98%$93,000
Wayne County0.49%$89,100
Webster County0.55%$107,700
Wilkinson County0.57%$78,500
Winston County0.48%$110,100
Yalobusha County0.56%$94,100
Yazoo County0.58%$117,800
Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, add your details to the following fields:
1. Home price: What you're hoping to spend on a home.
2. ZIP code: The home's location.
3. Down payment: How much cash you're paying up front toward the home's price. This calculator defaults to showing a 20% down payment, but you can adjust it up or down by changing the dollar amount or the percentage. This calculator assumes you're using a conventional loan, so it will automatically add private mortgage insurance (PMI) if the down payment amount is less than 20%.
4. Loan term: The default is 30 years, but you can also choose a shorter term.
5. Interest rate: Use today's average APR, enter the rate you've been quoted or use the lowest APR NerdWallet partners are offering today.
That's the least you can do. To get more accurate results, fill in the following four categories. (Estimates are fine, but this goes over how to get more specific numbers.)
6. Property taxes (per year): This is autofilled with an estimate, but property taxes vary tremendously throughout the country. Get more precise by looking up the tax rate where you're planning to buy or looking at the tax history for the home you're interested in. You can change the property tax amount by editing the dollar amount or the percentage.
7. Homeowners insurance (per year): Mortgage lenders require borrowers to have homeowners insurance. Not sure what you might pay? This calculator puts in an estimate, but you can use NerdWallet's home insurance calculator to fine-tune it. All you need to know is the property location and the rough amount you'd be looking to insure — use the home's price as a proxy.
8. HOA fees: If the home is part of a homeowners association, put the monthly dues here. (The calculator default is no HOA costs.) This is also information you can likely crib from a home's listing. One other note — if there are HOA fees but you're going to pay them directly rather than with an escrow account, you can omit them here.
9. PMI (monthly): If you've entered a down payment amount under 20%, this will autofill, since the calculator assumes you're using a conventional loan. PMI is tied to your credit score, so if you want a more accurate figure, pop over to NerdWallet's PMI calculator. If you're using a VA loan, you can zero this out, since VA loans do not require mortgage insurance. On the other hand, if you're getting an FHA loan, you'll have to pay mortgage insurance premiums regardless of your down payment amount. For more accurate payment info, use our FHA mortgage calculator.
The calculator's results will update as you adjust the numbers in these fields. The results show you the monthly payment, as well as:
  • Loan amount: How much you're actually borrowing in principal.
  • Total interest paid: How much interest you will pay over the life of the mortgage if you keep it until its term ends. (Most people sell or refinance well before that point, but it's still interesting info.)
  • Payoff date: If you kept the same loan for its entire term, here's the month and year when you'd own the home free and clear.
There's also a simple annual amortization schedule. Amortization shows how your mortgage payment changes over time. Even though the principal and interest payment doesn't change with a fixed-rate mortgage, the percentage of that payment that's going toward each component does. At the beginning of the loan, more goes toward interest; the closer to the end of the loan's term, the more of the payment goes toward principal. If you want a more detailed month-by-month look, yes, NerdWallet has an amortization calculator, too.
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CONSIDERING A REFI? If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.
» MORE FOR CANADIAN READERS: Canada mortgage payment calculator