Mississippi Refinance Rates & Programs 2026

Mississippi offers some of the most affordable housing in the nation, and refinancing costs are equally low. From Jackson to Gulfport and Tupelo, here's what you need to know.

Current Mississippi Refinance Rates

As of March 2026:

| Loan Type | Average Rate | |-----------|--------------| | 30-Year Fixed | 6.22% | | 15-Year Fixed | 5.54% | | FHA 30-Year | 6.17% | | VA 30-Year | 5.50% |

Use our refinance calculator.

Mississippi-Specific Refinance Programs

Mississippi Home Corporation (MHC)

MHC programs:

• SmartSolution down payment assistance
• If you used assistance, check subordination before refinancing

Mortgage Credit Certificate: MCCs provide up to $2,000 annual tax credits.

USDA Refinancing

Much of Mississippi qualifies for USDA loans. Streamlined refinancing available.

VA Loans

Mississippi has military presence at Keesler Air Force Base and Columbus AFB. VA IRRRL available.

Coastal Property Considerations

Gulf Coast properties may require flood insurance, affecting monthly payments and DTI.

Cost of Refinancing in Mississippi

Very low costs:

| Cost Item | Typical Amount | |-----------|--------------| | Lender origination fee | $0 - $1,800 | | Appraisal | $350 - $500 | | Title insurance | $500 - $900 | | Recording fees | $25 - $50 | | Total typical closing costs | $2,500 - $5,000 |

Mississippi has no state mortgage tax on refinances.

Use our break-even calculator.

When to Refinance in Mississippi

Refinance if rates dropped 0.75%+. Low costs mean quick break-even. See our cash-out guide.

Types of Refinance Available

Conventional, FHA Streamline, VA IRRRL, USDA Streamlined, Cash-Out all available.

Mississippi Refinance FAQ

1. How long does refinancing take? 25-35 days.

2. Will property taxes change? No. Mississippi has relatively low property taxes.

3. Do I need flood insurance? If in a flood zone (common on Gulf Coast), yes.

4. What credit score needed? 580 FHA, 620 conventional, 740+ best rates.

5. Can I keep my MHC MCC? Yes, with participating lender.

Bottom Line

Mississippi's low costs make refinancing attractive when rates drop 0.75%+.

Get quote: See rates here.

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About the Author: Bill McCoy, licensed mortgage broker, 15 years experience.