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.
August 18, 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%
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 by 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
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
FHA loan limits for Jackson, MS
VA loan limits for Jackson, MS
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