Mortgage Affordability Calculator Jackson, MS
How much house can you afford in Jackson? See your maximum price, monthly payment and pre-approval estimate. Free, instant, no credit check.
Updated · current rates and lending limits
Add your partner's income if you're buying together.
Car loans, credit cards, lines of credit, student loans. Not rent.
Enter your yearly household income.
Savings and gifts from family count. Many first-time buyer loans need just 3% down; under 20% you pay mortgage insurance.
7.40% (Freddie Mac 30-year average, October 2026). Change it if you've been quoted a rate.
Enter your down payment.
| After | Paid in total | Still owed |
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Tower Loan
4.8 · 225 reviews · Free pre-approval
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Tower Loan
4.8 · 81 reviews · Free pre-approval
Get pre-approved →
NACA
4.4 · 76 reviews · Free pre-approval
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An estimate, not a mortgage approval or pre-approval. A mortgage broker confirms your real number.
Top-rated mortgage brokers in Jackson
Ranked by TrustAnalytica from verified reviews · see the full Top 10 list →
Tower Loan
Tower Loan focuses on providing personal loans with a friendly, approachable team that makes customers feel like family. They offer clear guidance throughout the loan process, and clients appreciate the professionalism and kindness of the staff. Some may find the process takes a bit longer, but the supportive atmosphere is often highlighted.
Tower Loan
Tower Loan is known for its friendly and respectful customer service, with several clients appreciating the care and professionalism of the team. They offer mortgage brokerage services and assist customers throughout the loan process. Some reviews mention occasional unprofessional experiences, but many highlight helpful and welcoming staff.
NACA
NACA specializes in helping buyers navigate affordable homeownership through a structured counseling program. The team provides clear guidance and sets realistic goals, with clients appreciating their responsiveness and support. Some note that income-based location restrictions aren’t fully explained upfront, which can affect property choices.
Jackson Mortgage Statistics
Home-purchase lending in Hinds County and home costs in Jackson, MS (latest HMDA and Census data)Lenders made 1,871 home-purchase loans in Hinds County in 2025 (average about $216,000) and denied 563 — 23% of decided applications, compared with 27% across Mississippi, according to federal mortgage data (HMDA, CFPB). In Jackson, the median home is worth $111,700 and 52% of owners have a mortgage, paying a median $1,231 a month (Census ACS 2020–2024).
- Home-purchase loans, 2025
- 1,871▼ 2%1,900 in 2024
- Denial rate
- 23%MS 27%
- Median home value
- $111,700MS $169,800
- Monthly cost with a mortgage
- $1,231median · MS $1,394
- Refinance loans made (Hinds County, 2025)
- 1,077 · 929 in 2024
- Home-improvement loans made (2025)
- 286
- Average home-purchase loan
- $216,000 (MS $232,000)
- Owners with a mortgage
- 52% · 30% of them spend 30%+ of income on housing
- Median household income
- $42,071 (MS $56,447)
Source: CFPB / FFIEC Home Mortgage Disclosure Act (HMDA) data, 2024–2025 loan applications in Hinds County (originated vs denied); home values and costs: U.S. Census Bureau ACS 2020–2024. Compiled by TrustAnalytica.
How this Jackson mortgage affordability calculator works
Lenders look at your debt-to-income ratio. Housing costs (principal and interest, property tax, homeowners insurance and mortgage insurance) should stay under about 31% of your gross monthly income, and housing plus your other monthly debts under 43%. The calculator finds the highest home price that passes both tests with your down payment, on a 30-year fixed loan.
Mississippi rules and numbers this calculator uses
- Debt-to-income
- 31% for housing and 43% total, the FHA standard and the long-time Qualified Mortgage limit. Some conventional loans go higher with strong credit and savings.
- Down payment
- At least 3% on a conventional first-time buyer loan (3.5% on FHA). Under 20% down, private mortgage insurance of about 0.6% of the loan a year is added to the payment.
- Property tax
- About 0.54% of the home's value a year, the Mississippi average for owner-occupied homes (2024 Census ACS).
- Insurance
- Homeowners insurance assumed at $150 a month; it varies a lot by home and location.
- Rate
- Starts at 7.40% (Freddie Mac 30-year average, October 2026). Change it to the rate you have been quoted.
An estimate, not a mortgage approval or pre-approval. Your credit, income type, the property and the lender all change the answer; a mortgage broker confirms your real number. Sources: Freddie Mac Primary Mortgage Market Survey (October 2026), U.S. Census Bureau American Community Survey 2024 property tax data, FHA and CFPB debt-to-income guidance.
Frequently asked questions
9 questionsHow does the mortgage affordability calculator work?
What is the debt-to-income ratio requirement in Mississippi?
What is the minimum down payment for a home in Jackson?
How does PMI affect my mortgage in Mississippi?
How do interest rates impact what I can afford?
How do my debts affect the mortgage I can qualify for?
What is the property tax rate in Mississippi?
What's the difference between pre-approval and pre-qualification?
How can a mortgage broker help me in Jackson?
General information, not financial advice — consult a qualified professional.