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Closing Costs in Mississippi (2026)

Buyers in Mississippi typically pay $5,102 to $12,755 in closing costs (2–5%) on a median-priced home of $255,100. Our itemized estimate: about $11,200 (4.4% of the price), plus a $51,020 down payment at 20% down.

Mississippi at a Glance

Median home price

$255,100

Estimated closing costs

$11,200

4.4% of price

Property tax rate

0.65%

≈ $1,658/year

2026 conforming loan limit

$832,750

2026 one-unit conforming limit

Cash to close

$62,220

20% down + closing costs

Monthly payment

$1,699

30-yr at 6.75%

What Makes Mississippi Different

Mississippi is an attorney-closing state with no state transfer tax. Affordable median prices keep absolute closing costs low; insurance in coastal and tornado-belt counties is the line item that moves around the most.

Local cost factors

Buyer-paid transfer tax

None typical

Seller-paid or no state transfer tax

Closing custom

Attorney closing

Mississippi typically requires a closing attorney

Homeowners insurance

$2,850/yr

Typical premium scaled to the median-priced example

Example loan vs. limit

Conforming

$204,080 loan at 20% down

Itemized Closing Cost Estimate

Assumes a $255,100 purchase with 20% down ($204,080 loan) at 6.75% for 30 years, a 0.65% property tax rate, and $2,850/year insurance. Transfer tax includes only the share buyers in Mississippi customarily pay.

Line ItemCategoryEstimate
Loan Origination Fee (1% assumed)Lender fees$2,041
Credit ReportLender fees$50
Flood CertificationLender fees$20
Underwriting FeeLender fees$750
Processing FeeLender fees$500
AppraisalThird-party fees$550
Title InsuranceThird-party fees$1,020
Title SearchThird-party fees$300
Attorney Fee (Mississippi)Third-party fees$900
Survey (if required)Third-party fees$400
Recording FeeGovernment fees$125
Prepaid Interest (15 days)Prepaids & escrow$566
Prepaid Homeowners Insurance (1 year)Prepaids & escrow$2,850
Escrow Prefund — Property Taxes (3 months)Prepaids & escrow$414
Escrow Prefund — Insurance (3 months)Prepaids & escrow$714
Total estimated closing costs$11,200

What You'd Pay Each Month

On a median-priced Mississippi home with 20% down, the full monthly payment is about $1,699: $1,324 in principal and interest, $138 in property taxes, and $238 in homeowners insurance. Taxes and insurance here add 28% on top of the loan payment itself.

Run Your Own Numbers

Closing Cost EstimatorHow Much House Can I Afford?True Monthly Mortgage CostDown Payment Strategy

Frequently Asked Questions

Buyers in Mississippi typically pay 2% to 5% of the purchase price in closing costs — roughly $5,102 to $12,755 on a median-priced home around $255,100. Our itemized estimate, including lender fees, title work, government fees, and prepaid taxes and insurance, comes to about $11,200 (4.4% of the price) with 20% down at 6.75%.

The effective property tax rate in Mississippi is approximately 0.65% of home value per year. On a median-priced home of $255,100, that works out to about $1,658 per year, or $138 per month. Several months of taxes are usually collected up front at closing to fund your escrow account.

No statewide real estate transfer tax. That keeps government fees at closing lower in Mississippi than in most states.

The 2026 conforming loan limit in Mississippi is $832,750 for a one-unit home — the national baseline. No counties in this state are designated high-cost for 2026. On a median-priced $255,100 home with 20% down, the loan is $204,080, so a typical purchase stays conforming. FHA limits also vary by county (2026 floor about $541,288).

With 20% down on a $255,100 home, plan for about $62,220 in total: $51,020 for the down payment plus roughly $11,200 in closing costs and prepaid items. A smaller down payment reduces the cash needed but adds PMI to your monthly payment.

On a median-priced $255,100 home with 20% down and a 30-year loan at 6.75%, the total monthly payment is about $1,699 — $1,324 in principal and interest, $138 in property taxes, and $238 in homeowners insurance.

Nearby states

AlabamaArkansasDelawareDistrict of ColumbiaFloridaGeorgiaKentuckyLouisianaMarylandNorth CarolinaOklahomaSouth CarolinaTennesseeTexasVirginiaWest Virginia
Figures on this page are educational estimates, last reviewed October 18, 2026. Median prices (Redfin via Bankrate), effective property tax rates (Tax Foundation), insurance (Bankrate 2026 averages scaled to the median home), and 2026 conforming loan limits (FHFA) are approximations that vary by county, property, lender, and transaction. They are not a Loan Estimate and not financial advice — your lender's official Loan Estimate is the authoritative document for your closing costs. See our methodology.