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Jackson

Current Mortgage Rates in Jackson, Mississippi

Compare mortgage rates and fees for leading lenders in Jackson, MS. 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 lender offering the best mortgage rates in Jackson.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Jackson. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Jackson, MS as of December 11, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Jackson, MS Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Jackson is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Jackson, MS Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Jackson, Mississippi?

The median home value for Jackson, MS (Hinds County) is $129,126

The median household income for Jackson, MS (Hinds County) is $42,265

Based on current mortgage rates and a 10% down payment, you need to make $23,957 per year to buy the median priced home in Jackson

The home price you can afford to buy based on household income in Jackson is 176% of the median home value which means housing prices are average

Jackson (Hinds County) ranks 74 out of 82 counties in Mississippi and 2,059 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Jackson, MS is average

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Loan Limits for Jackson, Mississippi

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Jackson (Hinds County) below.

Conforming loan limits for Jackson, MS

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Jackson, MS

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Jackson, MS

1 unit: $484,350

Additional Mortgage Resources for Jackson, MS Residents

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Tupelo Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index