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Madison County Conventional Mortgage Calculator

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

Loan Details

Madison County, MS Benchmarks

Conventional averages
Typical Property Value$509,078
Average Down Payment25.0%
Average Interest Rate6.799%
Effective Tax Rate0.62%
Median Tax Paid$2,108/yr
Tax Growth (Historical)-1.3%
Based on 2,493 regional loans totaling $605,495,000 (HMDA database).
$
%

$127,270 down · $381,809 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$263 / month

$

Annual premium

$

Per month

%

Not required at 20%+ down

Estimated Monthly Payment

$2,902/mo

  • Principal & Interest$2,489
  • Property Tax$263
  • Home Insurance$150
Amortization · Remaining Balance

Loan Amount

$381,809

Total Interest

$514,270

Total of Payments

$896,078

Local Market Insights

Madison County Conventional Mortgage Overview

In Madison County, the 25.01% average down payment for Conventional loans is a strong indicator of buyer equity and creditworthiness. This sizable down payment typically allows buyers to avoid Private Mortgage Insurance (PMI), particularly since the median Loan-to-Value (LTV) ratio sits at 74.99%, already below the 80% threshold needed to cancel PMI. For those using a conventional mortgage with taxes in Madison County, MS, the effective property tax rate of 0.62% and the recent -1.3% inflation-adjusted tax shift provide modest monthly affordability relief. This data, reflecting 100% primary residences, suggests a low-risk, equity-rich market for standard homebuyers.

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.