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Mississippi mortgage calculator

Pre-filled for Mississippi: the median home value ($185,000) and the state's effective property tax rate of 0.66%. Change anything to match your home.

Home price
Down payment$37,000
%
Interest rateAPR, fixed
%
Loan term
Extra monthly paymenttoward principal
/ mo

Estimated monthly payment

$1,187.21

Loan $148,000 · 20% down

  • Principal & interest$935.46
  • Property tax$101.75
  • Home insurance$150.00
See the month-by-month schedule →
Total interest
$188,767
Total cost
$427,397
Payoff time
30 yr
PMI paid
None

Principal vs. interest by year

1: Principal 1,654, Interest 9,57112: Principal 1,765, Interest 9,4613: Principal 1,883, Interest 9,3424: Principal 2,009, Interest 9,21645: Principal 2,144, Interest 9,0826: Principal 2,287, Interest 8,9387: Principal 2,441, Interest 8,7858: Principal 2,604, Interest 8,62189: Principal 2,779, Interest 8,44710: Principal 2,965, Interest 8,26111: Principal 3,163, Interest 8,06212: Principal 3,375, Interest 7,8511213: Principal 3,601, Interest 7,62414: Principal 3,842, Interest 7,38315: Principal 4,100, Interest 7,12616: Principal 4,374, Interest 6,8511617: Principal 4,667, Interest 6,55818: Principal 4,980, Interest 6,24619: Principal 5,313, Interest 5,91220: Principal 5,669, Interest 5,5572021: Principal 6,049, Interest 5,17722: Principal 6,454, Interest 4,77223: Principal 6,886, Interest 4,34024: Principal 7,347, Interest 3,8782425: Principal 7,839, Interest 3,38626: Principal 8,364, Interest 2,86127: Principal 8,924, Interest 2,30128: Principal 9,522, Interest 1,7042829: Principal 10,160, Interest 1,06630: Principal 10,841, Interest 38530
PrincipalInterest

Amortization schedule by year

YearPrincipalInterestBalance
1$1,654$9,571$146,346
2$1,765$9,461$144,581
3$1,883$9,342$142,698
4$2,009$9,216$140,688
5$2,144$9,082$138,544
Monthly payment$1,187.21

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Mississippi at a glance

Effective property tax
0.66%
Rank (1 = highest)
34th of 51
Median home value
$186,500
Median tax bill
$1,221/yr

On the same $400,000 home, property tax in Mississippi adds about $220.00/month, versus $296.67/month at the national rate.

Mississippi mortgage payments by home price

Home pricePrincipal & interestProperty taxTotal / month
$100,000$505.65$55.00$710.65
$150,000$758.48$82.50$990.98
$175,000$884.90$96.25$1,131.15
$275,000$1,390.55$151.25$1,691.80
$375,000$1,896.20$206.25$2,252.45

20% down, 6.5% 30-year fixed (example rate), 0.66% property tax, $1,800/yr insurance, no HOA. Also see: how much house you can afford in Mississippi.

Mortgage calculators for other states

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • Mississippi figures: Effective rate = ACS median real estate taxes paid ÷ ACS median value, owner-occupied housing units, by state. Source: US Census Bureau ACS 2024.

Frequently asked questions

What is the property tax rate in Mississippi?+

The effective property tax rate in Mississippi is about 0.66% of home value a year (median taxes paid $1,221 on a median home worth $186,500). That's the 34th highest of 50 states and DC, and lower than the national 0.89%. Your actual bill depends on your county, city and exemptions.

What's the mortgage payment on a median-priced home in Mississippi?+

For a $185,000 home with 20% down at an example 6.5% 30-year rate, the payment is about $1,187.21 a month, including $101.75 of property tax and $150.00 of insurance.

How much income do I need to buy a home in Mississippi?+

To afford the median Mississippi home ($185,000) under the 28/36 guideline with 10% down and no other debts, you'd need roughly $59,000 a year in gross income at a 6.5% rate.

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Last reviewed October 14, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.