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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 7.064%APR 7.106% | 0 pts$0 | $1,329/moP&I $1,329 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.081%APR 6.856% | 0 pts$0 | $1,314/moP&I $1,221 · MI $93 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.311%APR 6.372% | 0 pts$0 | $1,230/moP&I $1,230 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.903%APR 6.945% | 0 pts$0 | $1,307/moP&I $1,307 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.699% | 0 pts$0 | $1,405/moP&I $1,405 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.311% | 6.372% | 0 pts ($0) | $1,708/mo | $35,235 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.052% | 6.112% | 0 pts ($0) | $2,100/mo | $47,017 |
Condo 10% Down | 10% | 720 credit score | 7.277% | 7.453% | 0 pts ($0) | $1,527/mo | $53,724 |
Conventional 10% Down | 10% | 720 credit score | 6.855% | 7.020% | 0 pts ($0) | $1,464/mo | $50,883 |
Conventional 20% Down | 20% | 740 credit score | 7.064% | 7.106% | 0 pts ($0) | $1,329/mo | $41,419 |
Conventional 5% Down | 5% | 700 credit score | 7.253% | 7.745% | 0 pts ($0) | $1,608/mo | $56,538 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.495% | 7.540% | 0 pts ($0) | $1,734/mo | $59,836 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,468/mo | $49,739 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.857% | 7.238% | 0 pts ($0) | $1,578/mo | $57,021 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.903% | 6.945% | 0 pts ($0) | $1,634/mo | $55,407 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,047/mo | $48,806 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.081% | 6.856% | 0 pts ($0) | $1,473/mo | $51,836 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,503/mo | $52,616 |
FHA Streamline Refi | 0% | 640 credit score | 6.275% | 7.053% | 0 pts ($0) | $1,558/mo | $55,188 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.193% | 7.445% | 0 pts ($0) | $1,599/mo | $58,232 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,552/mo | $30,386 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.699% | 0 pts ($0) | $1,317/mo | $41,979 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,337/mo | $41,784 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,442/mo | $44,228 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.444% | 7.225% | 0 pts ($0) | $1,531/mo | $54,495 |
Second Home 10% Down | 10% | 720 credit score | 6.091% | 6.671% | 0 pts ($0) | $1,352/mo | $45,749 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,305/mo | $40,342 |
VA 0% Down | 0% | 700 credit score | 6.093% | 6.342% | 0 pts ($0) | $1,534/mo | $50,812 |
VA Cash-Out Refi | 0% | 640 credit score | 6.106% | 6.480% | 0 pts ($0) | $1,537/mo | $50,911 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.116% | 6.273% | 0 pts ($0) | $1,538/mo | $50,988 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,365/mo | $43,185 |
Frequently Asked Questions
What are today's mortgage rates in 39561, , MS across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 39561, , MS is 7.064% (with an estimated monthly payment of $1,361). Active program rates also include FHA 30-year fixed loans at 6.081% and VA 0%-down fixed loans at 6.093%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 39561, , MS?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 39561, , MS have fluctuated between a low of 6.942% and a high of 7.205%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 39561, , MS?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $248,068 in 39561, , MS, a standard 20%-down Conventional loan requires an upfront cash down payment of $49,614 but keeps your monthly payment lower at $1,361/mo (at 7.064% interest) with no monthly PMI. In comparison, an FHA loan requires only $8,682 (3.5% down) but has an estimated payment of $1,508/mo (at 6.081% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $239,386 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 39561 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 39561 is $806,501. With a typical local home value of $248,068 in , a standard 20%-down mortgage requires a loan size of $198,454. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 39561, , MS impact estimated mortgage payments?
The median home value in 39561, , MS is estimated at $248,068. Buying a typical home here with a standard 20% down payment ($49,614) translates to an estimated starting monthly mortgage payment of $1,361 (principal and interest). Compared to the local area median household income of $84,284 ($7,024/mo), this basic housing payment represents approximately 19.4% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.