Mississippi mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in Mississippi. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Mississippi housing market

Mississippi, the Magnolia state, is one of the more affordable states for homeowner...ship, with the median homeowner spending around 18.5% of their income on their home. Home prices grew ~8% in 2018, but signs are pointing to a bit of a slowdown in 2019. And, while the median price of housing is relatively affordable at $175k, homes on the housing market tend to be on the more expensive end of the market. Passionate about root beer? The median price of housing in Biloxi, where root beer was created, goes for $136K, which is below the state average.

Your monthly payment
30 year fixed loan term
Monthly payment
Principal & interest


Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types
Total principal: $240,000
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,004$1,446
Mortgage Rate4.125%2.216%*2.986%*
Total interest paid
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,004$1,446
Mortgage Rate4.125%2.216%*2.986%*
Total interest paid

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Principal Paid
Interest Paid
Year 0
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We’ll share an interesting insight here for key milestones in your payoff schedule.

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Principal & interest


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Mississippi mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate2.886%2.943%
20-year fixed-rate2.603%2.687%
15-year fixed-rate2.101%2.194%
10-year fixed-rate1.938%2.038%
7/1 ARM2.488%3.108%
5/1 ARM2.467%3.212%
30-year fixed-rate FHA2.250%2.899%
30-year fixed-rate VA2.528%2.803%

Data source: ©Zillow, Inc. 2006 – 2021. Use is subject to the Terms of Use

Today's rate

30-year fixed

Today’s mortgage rates in Mississippi are 2.943% for a 30-year fixed, 2.194% for a 15-year fixed, and 3.212% for a 5/1 adjustable-rate mortgage (ARM).

Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.

Enter your ZIP code to get started on a personalized lender match.


First-time home buyer programs in Mississippi

There are several national first-time home buyer programs that may be able to help you get into a home in Mississippi.

Conventional mortgage

National program

What you need to know

Best for home buyers with good credit looking for low down payments or limited mortgage insurance premiums. A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie...

See full article

Average property tax in Mississippi counties

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.

Avg. property tax rate
Avg. home value
Adams County0.55%$90,800
Alcorn County0.38%$86,100
Amite County0.37%$77,500
Attala County0.37%$72,700
Benton County0.48%$70,300
Bolivar County0.88%$89,100
Calhoun County0.58%$66,600
Carroll County0.56%$90,900
Chickasaw County0.71%$63,800
Choctaw County0.36%$77,200
Claiborne County0.31%$61,000
Clarke County0.54%$72,000
Clay County0.75%$81,200
Coahoma County0.69%$62,400
Copiah County0.43%$93,800
Covington County0.41%$77,600
DeSoto County0.72%$171,600
Forrest County0.78%$131,100
Franklin County0.44%$74,700
George County0.55%$98,200
Greene County0.5%$80,700
Grenada County0.65%$93,200
Hancock County0.55%$132,800
Harrison County0.69%$155,200
Hinds County0.84%$126,100
Holmes County0.66%$50,600
Humphreys County0.93%$64,200
Issaquena County0.74%$50,200
Itawamba County0.48%$87,000
Jackson County0.71%$148,500
Jasper County0.63%$67,300
Jefferson County0.57%$57,100
Jefferson Davis County0.47%$80,600
Jones County0.62%$86,800
Kemper County0.5%$70,900
Lafayette County0.67%$177,300
Lamar County0.69%$169,000
Lauderdale County0.81%$98,000
Lawrence County0.5%$89,100
Leake County0.48%$80,800
Lee County0.71%$132,300
Leflore County0.81%$76,100
Lincoln County0.53%$94,800
Lowndes County0.54%$123,400
Madison County0.66%$230,500
Marion County0.57%$78,500
Marshall County0.7%$94,300
Monroe County0.49%$87,100
Montgomery County0.7%$77,900
Neshoba County0.59%$80,400
Newton County0.57%$80,300
Noxubee County0.39%$57,400
Oktibbeha County0.7%$146,400
Panola County0.65%$73,800
Pearl River County0.64%$122,900
Perry County0.45%$81,100
Pike County0.62%$87,500
Pontotoc County0.61%$102,100
Prentiss County0.49%$90,500
Quitman County0.62%$51,400
Rankin County0.64%$160,000
Scott County0.63%$71,500
Sharkey County0.51%$51,100
Simpson County0.45%$86,800
Smith County0.46%$79,700
Stone County0.57%$113,900
Sunflower County0.75%$71,600
Tallahatchie County0.61%$63,400
Tate County0.86%$107,400
Tippah County0.47%$86,000
Tishomingo County0.41%$82,700
Tunica County0.53%$96,000
Union County0.5%$92,500
Walthall County0.52%$101,900
Warren County0.53%$114,600
Washington County0.98%$74,400
Wayne County0.5%$80,100
Webster County0.62%$77,400
Wilkinson County0.5%$60,400
Winston County0.41%$77,600
Yalobusha County0.35%$75,200
Yazoo County0.67%$78,700

Source: American Communities Survey 2016, U.S. Census

Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a .

Under "Down payment," enter the amount of your down payment (if you’re buying) or the amount of equity you have (if refinancing). A  is the cash you pay upfront for a home, and  is the value of the home, minus what you owe.

On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.

On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."

You may enter your own figures for  and , if you don’t wish to use NerdWallet’s estimates. Edit these figures by clicking on the amount currently displayed.

The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."

» MORE: 

The mortgage payment calculation looks like this: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.

Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:

Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.

Your  is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.

» MORE: 

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:

Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.

The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:

Your monthly payment can go up over time if: