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Clay County Conventional Mortgage Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Clay County, Mississippi based on real HMDA transaction records.

Loan Details

Clay County, MS Benchmarks

Conventional averages
Typical Property Value$219,091
Average Down Payment24.7%
Average Interest Rate7.562%
Effective Tax Rate0.57%
Median Tax Paid$810/yr
Tax Growth (Historical)-1.4%
Based on 202 regional loans totaling $21,950,000 (HMDA database).
$
%

$54,115 down · $164,976 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$104 / month

$

Annual premium

$

Per month

%

Not required at 20%+ down

Estimated Monthly Payment

$1,414/mo

  • Principal & Interest$1,160
  • Property Tax$104
  • Home Insurance$150
Amortization · Remaining Balance

Loan Amount

$164,976

Total Interest

$252,739

Total of Payments

$417,715

Local Market Insights

Clay County Conventional Mortgage Overview

In Clay County, a 24.72% average down payment on a Conventional loan is a strong indicator of buyer creditworthiness, enabling most to avoid Private Mortgage Insurance (PMI). With a median Loan-to-Value (LTV) ratio of 75.28%, borrowers start with over 20% equity, eliminating the need to build equity to cancel PMI. The effective property tax rate of 0.57% is low, and the -1.4% inflation-adjusted tax shift slightly reduces monthly burdens for owner-occupants using a conventional mortgage with taxes in Clay County, MS. This data, reflecting 100% primary residences, suggests a stable market where the average down payment for a conventional loan in Clay County supports disciplined homeownership.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.