Mississippi Mortgage Calculator (2026)

Rates as of Oct 22 2026 · county tax data: ACS 2020–2024, released 2026-01-29

Statewide avg. effective tax rate
0.72%
Median home value
$160,000
Home insurance (est.)
$2,800/yr

Estimated PITI at the Mississippi median home price of $160,000, 20% down, 30-year fixed at 7.32%: $1,222/mo. The tax line uses Hinds County (Jackson)'s effective rate of 0.88% and insurance of $2,700/yr — the calculator's default county. Buyer's transfer tax: no state transfer tax.

Payment calculator

Loan type
$
%
$32,000 cash
%
30-yr fixed base 7.32% · credit adj +0.00% → 7.32% · PMMS Oct 22 2026
Loan term
Credit score
sets local tax & insurance
Picking a county updates the local property tax rate and insurance estimate — your home price stays as entered.
Advanced — HOA & extra payments
$
$
Estimated monthly payment
$1,221.60/mo
$1,222/mo
Principal & interest$879.27
Property tax$117.33
Home insurance$225.00
Covers principal & interest, property tax, insurance and mortgage insurance (when it applies). HOA counts only if entered above — left blank it is $0.
Loan amount$128,000
Down payment$32,000
LTV80%
Total interest$188,538
Payoff date…
Cash to close (estimate)
Down payment$32,000
Closing costs (2%–5%)$3,200 – $8,000
Est. cash needed$35,200 – $40,000
Transfer tax: No state transfer tax
The 2%–5% covers lender & title fees only. Transfer tax is not part of the cash total — it is listed separately, and some cities levy their own on top.
Using Hinds County (Jackson) effective rate 0.88% · insurance $2,700/yr
Amortization
Year 12
Principal paid
$22,610
Interest paid
$104,005
Still owed
$105,390
$200k$150k$100k$50k$0
08152330

All three lines are running totals since the loan started — not a breakdown of the monthly payment.

What local costs matter in Mississippi?

Effective property tax rate ~0.58%, among the lower states
No state transfer tax — low closing costs
Homestead exemption provides a fixed credit
Hurricane-zone insurance is pricier; flood coverage is common
All 82 Mississippi counties — property tax rates
CountyEffective tax rateProperty tax /moInsurance (est.)
Hinds County (Jackson)0.88%$$117$2,700/yr
DeSoto County0.6%$$80$2,500/yr
Harrison County (Gulfport)0.65%$$87$3,200/yr
Rankin County0.6%$$80$2,400/yr
Adams County0.9%$$120$2,800/yr
Alcorn County0.58%$$77$2,800/yr
Amite County0.38%$$51$2,800/yr
Attala County0.68%$$91$2,800/yr
Benton County0.69%$$92$2,800/yr
Bolivar County0.73%$$97$2,800/yr
Calhoun County0.66%$$88$2,800/yr
Carroll County0.53%$$71$2,800/yr
Show all 82 counties
CountyEffective tax rateProperty tax /moInsurance (est.)
Chickasaw County0.73%$$97$2,800/yr
Choctaw County0.48%$$64$2,800/yr
Claiborne County0.49%$$65$2,800/yr
Clarke County0.56%$$75$2,800/yr
Clay County0.63%$$84$2,800/yr
Coahoma County1.12%$$149$2,800/yr
Copiah County0.72%$$96$2,800/yr
Covington County0.59%$$79$2,800/yr
Forrest County0.81%$$108$2,800/yr
Franklin County0.73%$$97$2,800/yr
George County0.63%$$84$2,800/yr
Greene County0.85%$$113$2,800/yr
Grenada County1.02%$$136$2,800/yr
Hancock County0.71%$$95$2,800/yr
Holmes County0.86%$$115$2,800/yr
Humphreys County0.98%$$131$2,800/yr
Issaquena County——$2,800/yr
Itawamba County0.59%$$79$2,800/yr
Jackson County0.71%$$95$2,800/yr
Jasper County0.69%$$92$2,800/yr
Jefferson County0.86%$$115$2,800/yr
Jefferson Davis County0.89%$$119$2,800/yr
Jones County0.74%$$99$2,800/yr
Kemper County0.57%$$76$2,800/yr
Lafayette County0.55%$$73$2,800/yr
Lamar County0.66%$$88$2,800/yr
Lauderdale County0.92%$$123$2,800/yr
Lawrence County0.67%$$89$2,800/yr
Leake County0.67%$$89$2,800/yr
Lee County0.69%$$92$2,800/yr
Leflore County1.02%$$136$2,800/yr
Lincoln County0.7%$$93$2,800/yr
Lowndes County0.6%$$80$2,800/yr
Madison County0.68%$$91$2,800/yr
Marion County0.75%$$100$2,800/yr
Marshall County0.72%$$96$2,800/yr
Monroe County0.7%$$93$2,800/yr
Montgomery County1%$$133$2,800/yr
Neshoba County0.89%$$119$2,800/yr
Newton County0.73%$$97$2,800/yr
Noxubee County0.96%$$128$2,800/yr
Oktibbeha County0.71%$$95$2,800/yr
Panola County0.65%$$87$2,800/yr
Pearl River County0.65%$$87$2,800/yr
Perry County0.62%$$83$2,800/yr
Pike County0.88%$$117$2,800/yr
Pontotoc County0.58%$$77$2,800/yr
Prentiss County0.73%$$97$2,800/yr
Quitman County1.06%$$141$2,800/yr
Scott County0.67%$$89$2,800/yr
Sharkey County0.88%$$117$2,800/yr
Simpson County0.61%$$81$2,800/yr
Smith County0.42%$$56$2,800/yr
Stone County0.7%$$93$2,800/yr
Sunflower County0.93%$$124$2,800/yr
Tallahatchie County0.61%$$81$2,800/yr
Tate County0.65%$$87$2,800/yr
Tippah County0.77%$$103$2,800/yr
Tishomingo County0.49%$$65$2,800/yr
Tunica County0.53%$$71$2,800/yr
Union County0.56%$$75$2,800/yr
Walthall County0.72%$$96$2,800/yr
Warren County0.8%$$107$2,800/yr
Washington County0.86%$$115$2,800/yr
Wayne County0.63%$$84$2,800/yr
Webster County0.68%$$91$2,800/yr
Wilkinson County0.99%$$132$2,800/yr
Winston County0.65%$$87$2,800/yr
Yalobusha County0.66%$$88$2,800/yr
Yazoo County0.78%$$104$2,800/yr
Mississippi state average0.72%$$96$2,800/yr
Monthly tax is estimated on a $160,000 home — the price in the calculator above. Effective rates — U.S. Census Bureau, ACS 2024 (5-yr).

† Rates marked with ≥ are conservative estimates. ACS suppresses median tax values above $10,001 for privacy, which makes the calculated rate a lower bound — the true rate is higher in Manhattan, parts of Long Island, northern New Jersey and other high-cost areas.

How Mississippi compares

Mississippi's statewide average effective rate is 0.72% — the 32nd highest of the 51 covered here (the 50 states and DC), against a median of 0.8%. On the $160,000 home the calculator starts with, that is about $96 a month in property tax before any other cost. Property taxes by state ranks all 51 with median bills attached.

A state average hides the part that changes the bill. The county rows above run from 0.38% in Amite County to 1.12% in Coahoma County — roughly $99 a month apart on the same $160,000 home. That is why the county picker moves the payment more than the state picker does.

Insurance is the other line that follows the address: this page prices $2,800 a year as a state-level estimate, and home insurance by state covers how premiums are set and where they run highest. Below 20% down, PMI adds a third variable until the balance is back to 80% of the value.

The states nearest Mississippi in the ranking are Virginia (0.73%) and California (0.7%).

Mississippi mortgage FAQ

How much down payment do I need to buy a house in Mississippi?

Conventional loans start at 3% down, but anything under 20% requires PMI until you reach 20% equity — PMI auto-cancels at 78% of the original home value under the Homeowners Protection Act. FHA loans start at 3.5% down, and VA / USDA loans offer 0% down for eligible borrowers. Those are the national minimums: a lender can set a higher floor for this state or for a given loan size.

Why do property taxes vary so much within Mississippi?

Property taxes are layered by county, city and school district, so the effective rate differs block by block. The Mississippi state average is about 0.72%, but counties in our table above range widely — always confirm the exact bill with the local County Assessor.

When does PMI go away?

Under the Homeowners Protection Act (1998) you can request PMI removal at 80% LTV, and lenders must automatically cancel it when the balance reaches 78% of the original home value. This calculator estimates that month for you and shows the lower payment after PMI drops.

Does this calculator include home insurance for Mississippi?

Yes. The calculator pre-fills a typical Mississippi premium of about $2,800 per year and updates it when you switch counties. Gulf hurricanes plus inland tornadoes put premiums among the highest in the country; flood requires a separate policy. Get real quotes before budgeting.

More free mortgage tools

affordability calculator — how much house can I afford →refinance calculator — break-even & savings →closing cost calculator — cash to close by state →
Sources

Freddie MacU.S. Census BureauFannie MaeU.S. Department of Housing and Urban Development (HUD)U.S. Department of Veterans AffairsPrivate mortgage insurersNAICState statutes and departments of revenue

Results are estimates for planning only and are not a loan approval. Property tax rates and insurance premiums vary by county, ZIP code, home age and coverage — confirm with the local County Assessor and insurer quotes. Rate default: Freddie Mac PMMS 30-yr fixed (7.32%, Oct 22 2026); the 20-yr default is an estimate derived from the PMMS 30-yr/15-yr spread (PMMS has no 20-yr series). Conventional credit pricing adds Fannie Mae loan-level price adjustments (effective 2026-10-01) on top of that base, anchored at the 740–759 tier, and PMI comes off a credit × LTV rate card — both are central estimates, not quotes. Loan minimums shown here are the national programs' floor; a lender may set a higher down payment, rate or fee for this state or this loan.