Typical Mississippi mortgage payment
The median home price in Mississippi is roughly $190,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $1,503 | $1,020 |
| 5.50% | $1,552 | $1,079 |
| 6.00% | $1,603 | $1,139 |
| 6.50% | $1,655 | $1,201 |
| 7.00% | $1,708 | $1,264 |
| 7.50% | $1,761 | $1,329 |
| 8.00% | $1,816 | $1,394 |
At 6.50% over 30 years, a $190,000 home in Mississippi costs about $1,201/month in principal & interest.
What affects your Mississippi payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.