Mortgage on a $150K house in Mississippi
$963 a month with 20% down — $807 principal and interest plus $81 property tax and $75 insurance.
Mississippi's typical property tax is 0.65% of the home's value a year (U.S. average 0.9%), which adds $81 a month on a $150K home. The typical home in Mississippi is worth $194,531, so $150K is 23% below the typical price.
$150K home in Mississippi: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $156 | $963 | $41,300 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $156 | $1,120 | $48,000 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $156 | $1,174 | $50,300 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $156 | $1,213 | $52,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.65% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Mississippi does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Jones County | $150,092 | 0.74% | $974 |
| Choctaw County | $148,364 | 0.48% | $942 |
| Walthall County | $151,835 | 0.72% | $972 |
| Winston County | $153,231 | 0.65% | $963 |
| Benton County | $153,391 | 0.69% | $968 |
| Warren County | $143,982 | 0.8% | $982 |
| Wayne County | $143,110 | 0.63% | $962 |
| Greene County | $157,923 | 0.85% | $989 |
| Yalobusha County | $159,015 | 0.66% | $965 |
| Simpson County | $159,366 | 0.61% | $959 |
| Itawamba County | $159,400 | 0.59% | $956 |
| Tippah County | $139,263 | 0.77% | $979 |
40 of 80 Mississippi counties tracked by Zillow have a typical home value at or below $150K. See all Mississippi home prices.
Other prices in Mississippi
Frequently asked questions
What is the mortgage on a $150K house in Mississippi?
About $963 a month with 20% down at 7.11%: $807 principal and interest, $81 property tax and $75 insurance.
How much do I need to make to buy a $150K house in Mississippi?
About $41,300 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in Mississippi?
At Mississippi's typical effective rate of 0.65%, about $971 a year. Rates vary by county and city — see the county pages.