Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Southaven mortgage calculator
A median-priced Southaven, MS home at 6.75% over 30 years, with Mississippi property tax of 0.75% and $3,300 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$1,647 a month, all in
Principal and interest are $1,165; escrow and PMI add the rest. Over the full term the loan costs $239,691 in interest. Discounted at 5%, buying here has a net present value of $78,812 ($230,527 in today’s dollars).
Within Mississippi, Southaven is the most expensive of the 4 Mississippi markets covered here. Prices here run 1.50x those in Jackson, the cheapest market listed, so a statewide average badly understates what a purchase costs on this side of the state.
At $199,500 to buy and $1,208 a month to rent, the price-to-rent ratio is 13.8 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
Southaven carries a premium over the rest of Mississippi: a median home here runs $199,500, about 5% above the state median of $190,000. The deposit moves with it, so the same 20% down is $39,900 rather than $38,000.
Monthly cost in Southaven vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $199,500 |
|---|---|
| Down payment (10%) | $19,950 |
| Loan amount | $179,550 |
| Principal & interest | $1,165/mo |
| Property tax (0.75%) | $125/mo |
| Homeowners insurance | $275/mo |
| PMI while above 80% LTV | $82/mo |
| Total monthly payment | $1,647/mo |
| Comparable rent | $1,208/mo |
What a rate move does to the Southaven payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $1,019/mo |
| 6% | $1,076/mo |
| 6.5% | $1,135/mo |
| 7% | $1,195/mo |
| 7.5% | $1,255/mo |
| 8% | $1,317/mo |
Rent or buy in Southaven?
Against $1,208 a month in rent, over 7 years renting leaves you about $16,274 better off — $13,691 once 2.5% inflation is stripped out. See the Mississippi rent-vs-buy page.
Where these numbers come from
Mississippi medians come from editorial and are refreshed weekly. The Southaven figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.