Current as low as Mortgage and Home Equity Rates
FreeRateUpdate publishes the as low as mortgage and home equity rates and APRs we can verify from the lenders and brokers in our network. Individual terms vary; the details and assumptions behind each figure are available below.
| Purpose | Product | Term | As low as rate | APR* |
|---|---|---|---|---|
| Purchase | Fixed mortgage | 30 years | 6.625% | 6.837% |
| Purchase | Fixed mortgage | 15 years | 5.875% | 6.187% |
| Refinance | Fixed mortgage | 30 years | 6.624% | 6.769% |
| Refinance | Fixed mortgage | 15 years | 5.875% | 6.212% |
| Refinance | Fixed mortgage | 10 years | 5.625% | 6.098% |
| Cash-out refinance | Fixed mortgage | 30 years | 6.750% | 6.968% |
| Home equity | HELOC | Revolving | 7.050% | 7.050% |
| Home equity | Home equity loan | Fixed term | 7.000% | 7.457% |
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Compare MS Mortgage Refinance Offers
Lower Your Interest Rate in Mississippi
If eligible, you can lower your interest rate. This could lead to lower payments and less money paid towards interest.
By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Why should I lower my rate? |
Save money |
 |
Lower Payments |
Shorten Your Loan Term in Mississippi
Shorten your loan term when refinancing from a 30-year term to a 15-year term. You may also lower your rate.
Why should I shorten my term? |
Become mortgage-free quickly |
 |
Pay less interest |
Leverage Your Home's Equity in Mississippi
Take cash out of your home to apply to improvements, renovations, or other necessary expenses.
Why should I cash out? |
Renovations |
 |
Pay for other debts or emergencies |
Mississippi Mortgage Rates
Between the beauty of the Gulf Coast, the southern hospitality across the state, and some of the lowest cost of living numbers in the entire country, it is easy to see why the people who call Mississippi home believe it might be the best-kept secret in the whole country.
Common Mississippi Loan Types:
- Mississippi conventional mortgages: Conventional mortgages are made by private lenders without FHA insurance or a VA guaranty. Loan availability, qualifications, down payment, mortgage insurance, rates, and fees depend on the lender, borrower, property, and program.
- Mississippi FHA loans: FHA-insured mortgages are made by FHA-approved lenders and are not limited to first-time buyers. Eligibility and down payment depend on the borrower and property; loan limits and mortgage insurance vary by location and loan details.
- Mississippi VA loans: VA-backed mortgages are made by private lenders for eligible borrowers who meet VA and lender requirements. Some qualified purchase borrowers may use no down payment, while entitlement, appraisal, occupancy, funding-fee rules and exemptions, and lender requirements still apply.
Program information: FHA (HUD) and VA.gov.
How to Compare Mississippi Mortgage Rates
Mortgage pricing available in Mississippi varies by loan type, lender, borrower profile, property, points, and market timing. The mortgage payment is only part of the housing payment; account for property taxes, homeowners insurance, and any mortgage insurance when budgeting.