How Much Are Closing Costs in Mississippi: Complete Guide

In Mississippi, buyers can anticipate paying approximately 2%–5% of the home’s agreement value in closing costs, translating to around $1,718.75 to $3,867.18 for a house priced between $200,000 and $300,000. On the other hand, sellers are expected to pay 6–10% of the purchase price, which includes agency commissions. For a median-valued home in Mississippi at $179,749, sellers could face closing costs ranging from $5,251 to $8,565. It is crucial for both buyers and sellers to factor in these costs when budgeting for their real estate transactions to ensure a smooth and successful closing process.

Key Takeaway

  • Closing costs in Mississippi range from 2%–5% of the home’s agreement value for buyers and 6%–10% for sellers.
  • Buyers can expect to pay between $1,718.75 and $3,867.18 for an average-priced house.
  • Sellers may pay between $5,251 and $8,565 for a median-valued home, including agent commissions.

What Are Closing Costs in Mississippi?

Closing costs are the fees and expenses associated with finalizing a real estate transaction in Mississippi. These costs are separate from the property’s purchase price and are typically paid by both the buyer and the seller. Closing costs include a wide range of items, such as appraisal fees, title insurance, property taxes, and mortgage origination fees.

Also read: Closing Costs in Massachusetts? Key Insights for Buyers

Different Types of Closing Costs

For Home Buyers

Home buyers in Mississippi can expect to encounter several types of closing costs, including:

  • Appraisal fees
  • Home inspection fees
  • Title search and insurance
  • Mortgage origination fees
  • Property taxes
  • Homeowners insurance
  • Private mortgage insurance (PMI) if applicable

For Home Sellers

Home sellers in Mississippi typically pay for the following closing costs:

  • Real estate agent commissions
  • Transfer taxes
  • Prorated property taxes
  • Homeowners association (HOA) fees, if applicable
  • Attorney fees
  • Title insurance

Who Pays Closing Costs in Mississippi?

In Mississippi, both buyers and sellers are responsible for paying specific closing costs. Buyers generally pay for costs associated with their mortgage, such as origination fees, appraisal fees, and credit report fees. Sellers, on the other hand, typically pay for real estate agent commissions, transfer taxes, and prorated property taxes.

Who Pays Closing Costs on FSBO in Mississippi?

In a For Sale By Owner (FSBO) transaction, the buyer and seller negotiate who pays for which closing costs. Since there are no real estate agent commissions involved, the seller may be more willing to cover some of the buyer’s closing costs. However, it’s essential for both parties to clearly outline their responsibilities in the purchase agreement.

How Much are Closing Costs in Mississippi?

In Mississippi, closing costs range from 2%–5% of the home’s value for buyers and 6–10% for sellers, including agent commissions. Buyers can expect to pay $1,718.75 to $3,867.18 for an average-priced house, while sellers may pay $5,251 to $8,565 for a median-valued home.

Home PriceBuyer Closing CostsSeller Closing Costs
$200,000$4,000 – $10,000$12,000 – $20,000
$300,000$6,000 – $15,000$18,000 – $30,000
$400,000$8,000 – $20,000$24,000 – $40,000
$500,000$10,000 – $25,000$30,000 – $50,000
$600,000$12,000 – $30,000$36,000 – $60,000
$700,000$14,000 – $35,000$42,000 – $70,000
$800,000$16,000 – $40,000$48,000 – $80,000
$900,000$18,000 – $45,000$54,000 – $90,000
$1,000,000$20,000 – $50,000$60,000 – $100,000

How Much Are Closing Costs for Buyers in Mississippi?

Buyers in Mississippi can expect to pay between 2% and 5% of the home’s final purchase price in closing costs. For an average-priced house between $200,000 and $300,000, this translates to approximately $1,718.75 to $3,867.18.

How Much Are Closing Costs for Sellers in Mississippi?

Sellers in Mississippi typically pay 6% to 10% of the home’s selling price, including real estate agent commissions. For a median-valued home in Mississippi, which is around $179,749, closing costs for sellers can range from $5,251 to $8,565.

Also read: How Much Are Closing Costs in Minnesota? Tips for Homebuyers

Factors Impacting Closing Costs in Mississippi

Several factors can impact the amount of closing costs buyers and sellers pay in Mississippi:

  • Location: Closing costs vary by county and city.
  • Home price: Higher-priced homes result in higher closing costs.
  • Mortgage type: Different mortgage products may have additional fees.
  • Negotiations: Buyers and sellers can negotiate who pays certain costs.

Tips for Reducing Closing Costs

There are several ways buyers and sellers can reduce their closing costs in Mississippi:

  • Shop around for lenders and compare fees
  • Negotiate with the other party to split closing costs
  • Ask the seller to cover some of the buyer’s closing costs
  • Schedule the closing date near the end of the month to minimize prepaid interest
  • Consider a no-closing-cost mortgage, which rolls closing costs into the loan’s interest rate

How to Avoid Paying Closing Costs When Buying a House

While it’s not always possible to avoid paying closing costs entirely, buyers can employ certain strategies to minimize their out-of-pocket expenses:

  • Negotiate with the seller to cover some or all of the closing costs
  • Opt for a no-closing-cost mortgage, which increases the interest rate but eliminates upfront closing costs
  • Apply for closing cost assistance programs, which are available through some state and local governments, as well as non-profit organizations

How to Calculate Closing Costs

To calculate closing costs in Mississippi, follow these steps:

  1. Determine the purchase price of the home
  2. Multiply the purchase price by the estimated closing cost percentage (2%–5% for buyers, 6–10% for sellers)
  3. Add any additional fees specific to your situation, such as mortgage origination fees or transfer taxes

For example, if a buyer purchases a home for $250,000 and estimates closing costs at 3%, the calculation would be:

$250,000 x 0.03 = $7,500 in estimated closing costs

Steps to Prepare for Closing

To ensure a smooth closing process, buyers and sellers should take the following steps:

  1. Review the Closing Disclosure (CD) form carefully
  2. Verify that all information on the CD is accurate
  3. Obtain a cashier’s check or arrange a wire transfer for the total amount due at closing
  4. Gather necessary documentation, such as photo identification and proof of insurance
  5. Schedule a final walk-through of the property to ensure its condition

Also read: Understanding Closing Costs in Maryland: What to Expect

How to Find a Trusted Real Estate Agent

Working with a trusted real estate agent can help buyers and sellers navigate the closing process and potentially save on closing costs. To find a reputable agent in Mississippi:

  • Ask for referrals from friends, family, and colleagues
  • Research agents online and read reviews from past clients
  • Interview multiple agents to find the best fit for your needs
  • Verify the agent’s license and professional affiliations


Closing costs are an important consideration for anyone buying or selling a home in Mississippi. By understanding the types of closing costs, who pays them, and factors that impact the total amount, buyers and sellers can better prepare for the financial aspects of their real estate transaction. Working with a trusted real estate agent and employing strategies to reduce closing costs can help make the process more manageable and affordable.

Frequently Asked Questions (FAQ)

Who pays most closing costs?

In Mississippi, sellers typically pay more in closing costs than buyers, as they are responsible for real estate agent commissions, transfer taxes, and prorated property taxes. However, the exact distribution of closing costs can be negotiated between the buyer and seller.

Who pays property taxes at closing in Mississippi?

In Mississippi, property taxes are typically prorated between the buyer and seller at closing. The seller pays the taxes from January 1st until the closing date, while the buyer is responsible for the taxes from the closing date through the end of the year.

What are the highest closing costs?

The highest closing costs in Mississippi are typically real estate agent commissions, which can range from 5% to 6% of the home’s sale price. Other significant costs include mortgage origination fees, title insurance, and property taxes.

Who Pays the Most Closing Costs?

In Mississippi, sellers generally pay more in closing costs than buyers, as they are responsible for real estate agent commissions, transfer taxes, and prorated property taxes. However, the exact distribution of closing costs can be negotiated between the parties involved.

Who Pays Closing Costs in Texas?

In Texas, closing costs are typically split between the buyer and seller, with each party paying for specific items. Buyers usually pay for mortgage-related costs, while sellers pay for real estate agent commissions and transfer taxes. However, the exact split can be negotiated during the transaction.


Razib is a skilled writer with 5 years of experience specializing in technology, finance, automotive and real estate. A BBA graduate from 2014, Razib's passion for these industries shines through in his informative and engaging content. His ability to break down complex topics and stay current on the latest trends makes him a valuable resource for readers seeking to understand these dynamic fields.

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