Mortgage Rates in Collins, Mississippi — March 2026
Updated March 2026 | Based on Collins market data and regional lending conditions
Collins is a smaller Mississippi community of 38,531 where home prices remain well below the national median, making homeownership more attainable. The current 30-year fixed rate here is 6.8% (0.15% above the national average). At a median home price of $87,500, the estimated $516/month payment (with 20% down) is affordable on the local median income of $55,000.
Current Mortgage Rates in Collins, MS
Below are the current average mortgage rates available in the Collins 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 | 6.8% | 6.65% | +0.15% |
| 15-Year Fixed | 6.03% | 5.89% | +0.14% |
| 5/1 ARM | 6.28% | 6.15% | +0.13% |
| FHA | 6.52% | 6.25% | +0.27% |
| VA | 6.27% | 6.05% | +0.22% |
| Jumbo | 7.05% | 6.85% | +0.2% |
Collins Housing Market Overview
Collins is one of the more affordable housing markets, with a median home price of just $87,500 — significantly below the national median. Combined with a property tax rate of 0.82%, the total monthly housing cost of $516 is within reach for many local households earning the median $55,000.
Monthly Payment Breakdown for Collins
Based on the median home price of $87,500 with 20% down ($17,500), here is what you can expect to pay monthly in Collins:
15-Year vs. 30-Year Mortgage in Collins
Choosing a 15-year mortgage in Collins at 6.03% instead of a 30-year at 6.8% would save you $57,600 in total interest over the life of the loan. However, your monthly payment would be $592 instead of $456 — an increase of $136 per month.
Calculate Your Collins 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 Collins
What are the current mortgage rates in Collins, MS?
As of March 2026, the average 30-year fixed mortgage rate in Collins, Mississippi is 6.8%, while the 15-year fixed rate is 6.03%. FHA loans average 6.52% and VA loans 6.27%. These rates are 0.15% above the national average of 6.65%.
How much is a monthly mortgage payment in Collins?
Based on the median home price of $87,500 with 20% down, the estimated monthly mortgage payment in Collins is $456 for principal and interest. Including property taxes of $60/month, the total monthly housing cost is approximately $516.
What income do I need to buy a home in Collins?
Using the 28% rule, you would need an annual income of approximately $22,114 to afford the median-priced home in Collins at $87,500. The median household income in Collins is $55,000. The median income is currently sufficient to meet this threshold.
Is Collins a good place to buy a home in 2026?
Collins offers a below-average cost of living with a cost of living index of 80.1 (national average = 100). The property tax rate in Mississippi is 0.82%, which is near the national average. Collins has a population of 38,531 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 Collins, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.