Guide to refinancing in Mississippi. Current rates, state programs, costs, and lender options for Mississippi homeowners.
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.
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.
MHC programs:
Mortgage Credit Certificate: MCCs provide up to $2,000 annual tax credits.
Much of Mississippi qualifies for USDA loans. Streamlined refinancing available.
Mississippi has military presence at Keesler Air Force Base and Columbus AFB. VA IRRRL available.
Gulf Coast properties may require flood insurance, affecting monthly payments and DTI.
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.
Refinance if rates dropped 0.75%+. Low costs mean quick break-even. See our cash-out guide.
Conventional, FHA Streamline, VA IRRRL, USDA Streamlined, Cash-Out all available.
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.
Mississippi's low costs make refinancing attractive when rates drop 0.75%+.
Get quote: See rates here.
About the Author: Bill McCoy, licensed mortgage broker, 15 years experience.
Licensed mortgage broker with 15+ years of experience helping homeowners save money through refinancing. CA DRE #01212512.