Mississippi Mortgage Calculator (2026)
Calculate your monthly payment with Mississippi-specific property tax (0.81%) and average insurance ($1,830/yr).
Monthly payment
Payment breakdown
Loan summary
Amortization schedule (first 12 + every 12 months)
| Month | Principal | Interest | PMI/MIP | Balance |
|---|---|---|---|---|
| 1 | $146.07 | $1,039.50 | $74.25 | $178,054 |
| 2 | $146.92 | $1,038.65 | $74.25 | $177,907 |
| 3 | $147.78 | $1,037.79 | $74.25 | $177,759 |
| 4 | $148.64 | $1,036.93 | $74.25 | $177,611 |
| 5 | $149.51 | $1,036.06 | $74.25 | $177,461 |
| 6 | $150.38 | $1,035.19 | $74.25 | $177,311 |
| 7 | $151.26 | $1,034.31 | $74.25 | $177,159 |
| 8 | $152.14 | $1,033.43 | $74.25 | $177,007 |
| 9 | $153.03 | $1,032.54 | $74.25 | $176,854 |
| 10 | $153.92 | $1,031.65 | $74.25 | $176,700 |
| 11 | $154.82 | $1,030.75 | $74.25 | $176,546 |
| 12 | $155.72 | $1,029.85 | $74.25 | $176,390 |
| 24 | $166.98 | $1,018.59 | $74.25 | $174,449 |
| 36 | $179.05 | $1,006.52 | $74.25 | $172,367 |
| 48 | $191.99 | $993.58 | $74.25 | $170,136 |
| 60 | $205.87 | $979.70 | $74.25 | $167,742 |
| 72 | $220.75 | $964.82 | $74.25 | $165,176 |
| 84 | $236.71 | $948.86 | $74.25 | $162,425 |
| 96 | $253.82 | $931.75 | $74.25 | $159,474 |
| 108 | $272.17 | $913.40 | $74.25 | $156,310 |
| 120 | $291.85 | $893.72 | — | $152,918 |
| 132 | $312.94 | $872.62 | — | $149,280 |
| 144 | $335.57 | $850.00 | — | $145,379 |
| 156 | $359.83 | $825.74 | — | $141,196 |
| 168 | $385.84 | $799.73 | — | $136,711 |
| 180 | $413.73 | $771.84 | — | $131,902 |
| 192 | $443.64 | $741.93 | — | $126,745 |
| 204 | $475.71 | $709.86 | — | $121,215 |
| 216 | $510.10 | $675.47 | — | $115,285 |
| 228 | $546.97 | $638.60 | — | $108,927 |
| 240 | $586.51 | $599.06 | — | $102,109 |
| 252 | $628.91 | $556.66 | — | $94,798 |
| 264 | $674.38 | $511.19 | — | $86,959 |
| 276 | $723.13 | $462.44 | — | $78,553 |
| 288 | $775.40 | $410.17 | — | $69,539 |
| 300 | $831.46 | $354.11 | — | $59,874 |
| 312 | $891.56 | $294.01 | — | $49,510 |
| 324 | $956.01 | $229.56 | — | $38,396 |
| 336 | $1,025.12 | $160.45 | — | $26,480 |
| 348 | $1,099.23 | $86.34 | — | $13,702 |
| 360 | $1,178.69 | $6.88 | — | $0 |
What the payment actually costs
Mississippi property tax averages 0.81% of value — 34th highest of 51 states, against a national average near 1.10%. On a $400,000 home that is about $3,240 a year, or $270 a month added to principal and interest.
Homeowners insurance runs about $1,830 a year in Mississippi, 13th of 51 states and above the $1,552 national average. Together, tax and insurance add roughly $423 a month to the payment before you have paid a dollar of principal.
How this fits the rest of your tax bill
Mississippi taxes both income and property, so neither side offsets the other. Property tax at 0.81% ranks 34th of 51, and state income tax applies on top. Model both together when comparing against a no-income-tax state, because the comparison flips depending on how much house you buy relative to what you earn.
Housing costs compound with the rate. Mississippi runs about 16% below national-average costs, so the same 0.81% rate applies to a smaller assessed value than it would elsewhere. A percentage rate is only half the number that matters; the base it applies to is the other half.
Property tax rates are effective statewide averages; your county assessor sets the actual figure and it varies widely within a state. See our methodology.