Mississippi mortgage calculator with property tax and insurance
Median home price in Mississippi: $220,000. Effective property tax 0.58%/yr, homeowners insurance ≈ $3,700/yr. Rates updated Oct 8, 2026.
Payment by loan term
| Term | P&I | All-in | Total interest |
|---|---|---|---|
| 10 yr | $2,089 | $2,504 | $74,698 |
| 15 yr | $1,632 | $2,046 | $117,678 |
| 20 yr | $1,418 | $1,833 | $164,283 |
| 30 yr | $1,231 | $1,645 | $267,022 |
Adjust the numbers
Monthly breakdown
Total interest $267,022 · total PMI $0 · paid off in 30 years
Compare loan terms
| Term | Monthly (P&I) | Total monthly | Total interest |
|---|---|---|---|
| 10 years | $2,089 | $2,504 | $74,698 |
| 15 years | $1,632 | $2,046 | $117,678 |
| 20 years | $1,418 | $1,833 | $164,283 |
| 30 years | $1,231 | $1,645 | $267,022 |
Amortization schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $13,145 | $1,622 | $174,378 |
| 2 | $13,019 | $1,748 | $172,629 |
| 3 | $12,883 | $1,884 | $170,745 |
| 4 | $12,737 | $2,030 | $168,715 |
| 5 | $12,579 | $2,188 | $166,527 |
| 6 | $12,410 | $2,358 | $164,169 |
| 7 | $12,226 | $2,541 | $161,628 |
| 8 | $12,029 | $2,738 | $158,890 |
| 9 | $11,817 | $2,951 | $155,939 |
| 10 | $11,588 | $3,180 | $152,759 |
| 11 | $11,341 | $3,427 | $149,333 |
| 12 | $11,075 | $3,693 | $145,640 |
| 13 | $10,788 | $3,979 | $141,660 |
| 14 | $10,479 | $4,288 | $137,372 |
| 15 | $10,146 | $4,621 | $132,751 |
| 16 | $9,787 | $4,980 | $127,771 |
| 17 | $9,401 | $5,367 | $122,404 |
| 18 | $8,984 | $5,783 | $116,621 |
| 19 | $8,535 | $6,232 | $110,389 |
| 20 | $8,051 | $6,716 | $103,673 |
| 21 | $7,530 | $7,237 | $96,436 |
| 22 | $6,968 | $7,799 | $88,636 |
| 23 | $6,363 | $8,405 | $80,232 |
| 24 | $5,710 | $9,057 | $71,175 |
| 25 | $5,007 | $9,760 | $61,414 |
| 26 | $4,249 | $10,518 | $50,896 |
| 27 | $3,433 | $11,335 | $39,562 |
| 28 | $2,553 | $12,214 | $27,347 |
| 29 | $1,605 | $13,163 | $14,185 |
| 30 | $583 | $14,185 | $0 |
Showing 360 payments. Schedule assumes a fixed rate and constant home value for PMI cancellation.
Down payment scenarios in Mississippi
| Down | Cash needed | PMI | Monthly |
|---|---|---|---|
| 3% | $6,600 | $98 | $2,005 |
| 5% | $11,000 | $96 | $1,972 |
| 10% | $22,000 | $91 | $1,890 |
| 15% | $33,000 | $86 | $1,808 |
| 20% | $44,000 | $0 | $1,645 |
| 25% | $55,000 | $0 | $1,568 |
Around the Mississippi median price
| Home price | P&I | All-in monthly |
|---|---|---|
| $165,000 | $923 | $1,311 |
| $220,000 | $1,231 | $1,645 |
| $275,000 | $1,538 | $1,980 |
| $330,000 | $1,846 | $2,314 |
Detailed payment examples
FAQ
What is the average property tax rate in Mississippi?
Mississippi's effective property tax rate is about 0.58% of home value per year, which is $106 per month on a $220,000 home. Rates vary by county and by exemptions, so treat this as a planning estimate.
How much is homeowners insurance in Mississippi?
A typical Mississippi policy runs around $3,700 per year ($308 per month). Coastal and hail-prone areas can be significantly higher.
Is a $220,000 home affordable in Mississippi?
At 7.50% with 20% down, the estimated all-in payment is $1,645 per month. Using the 28% rule that implies a household income near $71,000 per year before other debts.