Compare Mississippi mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Mississippi.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Mississippi. Plus, shopping lenders is free and there is no obligation.
January 19, 2022
Below we offer valuable insights on the housing market and real estate prices in Mississippi. Understand how much you need to make to buy a house in Mississippi, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Mississippi is affordable for you. We provide this helpful information to help you decide if living in Mississippi is right for you.
The median home value for Mississippi is $150,790
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Mississippi is $24,706
With this income, you could qualify for a $135,711 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Mississippi is $572
The median household income for Mississippi is $49,731
Based on this income, you can afford a home valued at approximately $303,524
The home price you can afford to buy based on household income in Mississippi is 201% of the median home value which means housing prices are super affordable. Mississippi ranks 7 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Mississippi is super affordable