Mississippi Home Buying Guide
South Region · Non-Judicial Foreclosure State
Key Facts at a Glance
What Makes Mississippi Unique
Lowest median home prices in the US
No transfer tax
Strong homestead exemption for primary residences
First-Time Buyer Programs in Mississippi
MHC Smart6 Program
Contact your state housing finance agency for current eligibility and rates
MHC Mortgage Revenue Bond
Contact your state housing finance agency for current eligibility and rates
USDA Rural Development
Contact your state housing finance agency for current eligibility and rates
Program availability, income limits, and interest rates change frequently. Verify current terms with your lender or state housing finance agency.
Closing Costs in Mississippi
Attorney at Closing
Attorney Required at Closing
Mississippi requires a licensed real estate attorney to oversee the closing process. Budget $500–$1,500 for attorney fees.
Local Tips for Mississippi Buyers
Mississippi offers the best affordability in the nation.
USDA zero-down loans are available in most of the state.
MHC Smart6 offers 6% DPA — up to FHA/conventional limits.
Estimated Annual Ownership Cost in Mississippi
Based on the median home price of $168,000 with a 10% down payment and 7% mortgage rate.
Ready to Calculate Your Numbers?
Use our free calculators to estimate your monthly payment, affordability, and closing costs in Mississippi.