Mississippi Mortgage Calculator

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

Total monthly payment

$2,104.42

Total principal

$240,000

Total interest payments

$324,991.00

Total loan payments

$564,991.00

Payoff date

—

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Mortgage loans from our partners

Check Rate

on NBKC

NBKC

4.5

NerdWallet rating

Min. credit score

620

Min. down payment

3%

Check Rate

on New American Funding

New American Funding

4.0

NerdWallet rating

Min. credit score

N/A

Min. down payment

0%

Check Rate

on Rocket Mortgage, LLC

Rocket Mortgage, LLC

4.5

NerdWallet rating

Min. credit score

580

Min. down payment

3.5%

Check Rate

on Veterans United

Veterans United

5.0

NerdWallet rating

Min. credit score

620

Min. down payment

0%

Check Rate

on Tomo

Tomo

4.5

NerdWallet rating

Min. credit score

600

Min. down payment

3%

COMPARE MORE LENDERS

Getting a Mortgage in Mississippi

Written by

, Edited by

Written by

and

Last updated 11/19/2025

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)

Accurate as of 08/24/2026.

Product	Interest rate	APR
30-year fixed-rate	6.814%	6.817%
20-year fixed-rate	6.757%	6.767%
15-year fixed-rate	5.927%	5.938%
7-year ARM	7.035%	6.875%
5-year ARM	7.375%	6.970%
30-year fixed-rate VA	6.077%	6.415%

Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

6.817%

30-year fixed

Today's mortgage rates in Mississippi are 6.817% for a 30-year fixed, 5.938% 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.

County	Avg. property tax rate	Median home value
Adams County	0.47%	$99,300
Alcorn County	0.49%	$125,800
Amite County	0.37%	$91,400
Attala County	0.56%	$99,100
Benton County	0.44%	$96,200
Bolivar County	0.74%	$118,200
Calhoun County	0.64%	$82,900
Carroll County	0.53%	$103,700
Chickasaw County	0.56%	$88,000
Choctaw County	0.42%	$104,200
Claiborne County	0.33%	$78,500
Clarke County	0.45%	$99,300
Clay County	0.56%	$110,600
Coahoma County	0.67%	$84,400
Copiah County	0.41%	$93,600
Covington County	0.49%	$76,700
DeSoto County	0.66%	$258,900
Forrest County	0.75%	$187,700
Franklin County	0.36%	$96,200
George County	0.55%	$157,200
Greene County	0.62%	$97,500
Grenada County	0.62%	$130,100
Hancock County	0.71%	$197,400
Harrison County	0.62%	$206,400
Hinds County	0.77%	$145,100
Holmes County	0.52%	$73,900
Humphreys County	0.70%	$79,900
Issaquena County	0.29%	$96,300
Itawamba County	0.38%	$114,300
Jackson County	0.73%	$173,800
Jasper County	0.44%	$110,400
Jefferson County	0.40%	$76,400
Jefferson Davis County	0.63%	$87,800
Jones County	0.74%	$149,500
Kemper County	0.48%	$89,300
Lafayette County	0.61%	$242,800
Lamar County	0.65%	$210,100
Lauderdale County	0.70%	$122,600
Lawrence County	0.61%	$104,300
Leake County	0.56%	$98,800
Lee County	0.71%	$189,700
Leflore County	0.87%	$95,100
Lincoln County	0.57%	$128,100
Lowndes County	0.51%	$155,300
Madison County	0.66%	$280,300
Marion County	0.56%	$104,100
Marshall County	0.53%	$150,400
Monroe County	0.55%	$109,500
Montgomery County	0.58%	$97,100
Neshoba County	0.52%	$94,300
Newton County	0.46%	$100,800
Noxubee County	0.78%	$85,000
Oktibbeha County	0.66%	$211,200
Panola County	0.64%	$115,800
Pearl River County	0.57%	$167,700
Perry County	0.46%	$126,400
Pike County	0.64%	$115,900
Pontotoc County	0.53%	$136,700
Prentiss County	0.48%	$112,200
Quitman County	0.57%	$65,500
Rankin County	0.60%	$221,900
Scott County	0.52%	$81,300
Sharkey County	0.89%	$88,100
Simpson County	0.52%	$104,600
Smith County	0.36%	$120,200
Stone County	0.45%	$164,400
Sunflower County	0.57%	$103,800
Tallahatchie County	0.47%	$83,400
Tate County	0.63%	$163,700
Tippah County	0.55%	$117,100
Tishomingo County	0.35%	$123,100
Tunica County	0.43%	$150,800
Union County	0.46%	$144,900
Walthall County	0.57%	$113,800
Warren County	0.51%	$142,100
Washington County	0.98%	$93,000
Wayne County	0.49%	$89,100
Webster County	0.55%	$107,700
Wilkinson County	0.57%	$78,500
Winston County	0.48%	$110,100
Yalobusha County	0.56%	$94,100
Yazoo County	0.58%	$117,800

Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

To use our mortgage calculator, simply add your details to the following fields:

Home price
Down payment
Interest rate
Loan term (years)

After you enter these four pieces of information, the calculator displays the monthly payment inside the "Loan Estimate" window. It also displays:

Total principal
Total interest payments
Total loan payments
Payoff date

Back to top

Calculating costs in addition to principal and interest

The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association (HOA) fee, and monthly private mortgage insurance (PMI) premium.

To enter this information, click “Show Advanced Info” underneath the main loan details. Note that you'll enter the annual cost for property taxes and home insurance and the monthly cost for HOA fees and PMI premiums. The PMI field will only display if your down payment is less than 20%.

In the “Loan Estimate” window, select "Amortization Schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.

» MORE: What is mortgage amortization?

Explanation of terminology

Total monthly payment: An estimate of all your monthly housing costs, covering your loan principal, interest, taxes, insurance, and PMI.
Total principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
Total interest payments: How much interest you would pay over the life of the loan.
Total loan payments: The entire amount of principal and interest paid, excluding taxes, insurance, and PMI.
Down payment: The portion of the home’s price you pay in cash upfront.
Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.
Loan term (years): The number of years you have to repay the mortgage. A longer term gives you a lower monthly payment, but you’ll pay more interest.
Start date: The month that your first mortgage payment is due.
Payoff date: The month your home will be fully paid off based on the loan term.
Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual property tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual homeowners insurance premium each month, and the servicer pays the bill when it's due.
Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.
Private mortgage insurance: If you get a conventional mortgage and put down less than 20%, you’ll have to pay a monthly PMI premium. It covers the lender if you default on the loan and can be canceled once you reach 20% equity. FHA loans require a similar fee called a mortgage insurance premium.