Mississippi closing cost calculator

Our round figure of $195,000 comes from the $194,531, September 2026 value for a typical Mississippi home. Below, the example lists the buyer's costs and assumes a $39,000 down payment with a $156,000 mortgage.

The lender receives the origination charge to handle the loan. Prepaid interest covers the days between your closing date and the start of your first full month of payments.

Cash of $43,853 is what the buyer must bring to closing; the down payment is part of it. Our own Mississippi title rate table is missing, so the title policy amount shown is a national estimate.

Every closing cost line falls to the buyer in this example. The calculator shows $0 for seller closing costs in this example, before commission and any mortgage payoff. Seller costs for a $400,000 home equal $0 before those two items; by comparison, the median state charges sellers $440.

Mississippi has no state transfer tax on a deed. A large part of a buyer's payment goes to the lender and the title policy, along with advance payments for insurance, interest and similar items.

The county charges $26 to record a deed and $26 to record a mortgage. In counties that add an archive fee, the $26 charge covers the first 5 pages. In other counties, the fee is $25.

With 20% down on a $400,000 home, buyers in Mississippi pay around $7,842. Across all 50 states plus DC, the midpoint is $7,850; Mississippi comes in $8 below that.

Mississippi home values sit between $95,963 in the market's lower-priced third and $338,426 in its higher-priced third (September 2026). Buyer closing costs fall between $3,409 and $8,380, depending on the home, when you assume 20% down and no commission.

Nationwide, buyer's agents get 2.42% of the price on average. The amount comes from the agreement you sign with your agent. Our calculator leaves out commission until you enter a rate; then you can add it and view the total cost.

Property tax bills in Mississippi must be paid no later than February 1 and apply to property assessed in the prior year. The issue arises at closing because the date ownership changes determines the buyer and seller's share of that year's tax.

A homestead exemption reduces the property tax bill for the home where you live. For that year's exemption, file with your county Tax Assessor from January 1 through April 1. No property tax applies for the first $75,000 of true value in the home if the homeowner is aged 65 or older or totally disabled and qualifies.

Other property is assessed at 15%, while an owner-occupied single-family home is assessed at 10% of true value. The local tax rate, known as the millage rate, is charged against the assessed figure. For an owner-occupied home in Mississippi, the median annual property tax bill is $1,215, or roughly 0.72% of the median value for homes.