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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

$2,122

at 6.94% · 30-year fixed

  • Principal & interest

    $1,587

  • Property taxes

    $375

  • Homeowners insurance

    $160

Loan amount

$240,000

Total interest paid

$331,344

Payoff date

—

YOU'RE KEEPING $11,040

$11,040

stays in your pocket

That's your total savings over 30 years at today's best rate on NerdWallet (6.94%) vs. the 7.13% national average — $31 less every month.

  • Today's best rate: 6.94%

  • 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 
 and 
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-rate7.337%7.342%
20-year fixed-rate7.271%7.276%
15-year fixed-rate6.514%6.525%
7-year ARM7.535%7.261%
5-year ARM7.375%6.970%
30-year fixed-rate VA6.688%7.035%
Data source: ©Zillow, Inc. 2006 – 2026. Use is subject to the Terms of Use

Today's rate

7.342%

30-year fixed

Today's mortgage rates in Mississippi are 7.342% for a 30-year fixed, 6.525% 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
  2. Down payment
  3. Interest rate
  4. Loan term (years)
After you enter this information, the calculator displays the monthly payment, as well as:
  • Total principal
  • Total interest payments
  • Payoff date
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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. 
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
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