Mortgage Rates in Brookhaven, Mississippi — March 2026
Updated March 2026 | Based on Brookhaven market data and regional lending conditions
Brookhaven is a growing city in Mississippi with a population of 12,162. The current 30-year fixed mortgage rate in Brookhaven is 6.85%, which is 0.2% above the national average. With a median home price of $123,000 and a 20% down payment of $24,600, homebuyers can expect a monthly principal and interest payment of approximately $645.
Current Mortgage Rates in Brookhaven, MS
Below are the current average mortgage rates available in the Brookhaven area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.85% | 6.65% | +0.2% |
| 15-Year Fixed | 6.07% | 5.89% | +0.18% |
| 5/1 ARM | 6.31% | 6.15% | +0.16% |
| FHA | 6.55% | 6.25% | +0.3% |
| VA | 6.3% | 6.05% | +0.25% |
| Jumbo | 7.1% | 6.85% | +0.25% |
Brookhaven Housing Market Overview
The Brookhaven housing market offers relatively affordable housing compared to many major cities. The median household income in Brookhaven is $40,700, and the cost of living index is 73.5 (national average = 100). Based on the 28% affordability rule, the median income in Brookhaven is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Brookhaven
Based on the median home price of $123,000 with 20% down ($24,600), here is what you can expect to pay monthly in Brookhaven:
15-Year vs. 30-Year Mortgage in Brookhaven
Choosing a 15-year mortgage in Brookhaven at 6.07% instead of a 30-year at 6.85% would save you $82,080 in total interest over the life of the loan. However, your monthly payment would be $834 instead of $645 — an increase of $189 per month.
Calculate Your Brookhaven Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Brookhaven
What are the current mortgage rates in Brookhaven, MS?
As of March 2026, the average 30-year fixed mortgage rate in Brookhaven, Mississippi is 6.85%, while the 15-year fixed rate is 6.07%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.2% above the national average of 6.65%.
How much is a monthly mortgage payment in Brookhaven?
Based on the median home price of $123,000 with 20% down, the estimated monthly mortgage payment in Brookhaven is $645 for principal and interest. Including property taxes of $80/month, the total monthly housing cost is approximately $725.
What income do I need to buy a home in Brookhaven?
Using the 28% rule, you would need an annual income of approximately $31,071 to afford the median-priced home in Brookhaven at $123,000. The median household income in Brookhaven is $40,700. The median income is currently sufficient to meet this threshold.
Is Brookhaven a good place to buy a home in 2026?
Brookhaven offers a below-average cost of living with a cost of living index of 73.5 (national average = 100). The property tax rate in Mississippi is 0.78%, which is below the national average. Brookhaven has a population of 12,162 and offers a very affordable lifestyle.
Mortgage Rates in Other Mississippi Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Brookhaven, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.