Mortgage Refinance Rates in Forrest County, Mississippi (2026)
From Forrest County, Forrest County owners refinancing a ~$138,000 balance can save close to $115/month by trading a 7.50% rate for an example 6.25%.
Refinance savings in Forrest County
Here is how a rate-and-term refinance changes the monthly payment on a representative Forrest County balance:
| Monthly Principal & Interest | Amount |
|---|---|
| Current loan at ~7.50% | $965 |
| After refinancing at ~6.25% | $850 |
| Estimated monthly savings | $115 |
Illustrative only; the rate you are quoted near Forrest County depends on your credit, equity, and the day you lock. Get alerts when rates drop.
Three Forrest County-area balances compared
How monthly savings scale with balance near Forrest County:
| Balance | Now (~7.50%) | Refi (~6.25%) | Monthly Saved |
|---|---|---|---|
| $97,000 | $678 | $597 | $81 |
| $138,000 | $965 | $850 | $115 |
| $186,000 | $1,301 | $1,145 | $155 |
What each rate costs near Forrest County
How the Forrest County payment on $138,000 changes with the rate you lock:
| Rate | 30-yr P&I | 15-yr P&I |
|---|---|---|
| 5.50% | $784 | $1,128 |
| 5.75% | $805 | $1,146 |
| 6.00% | $827 | $1,165 |
| 6.25% | $850 | $1,183 |
| 6.50% | $872 | $1,202 |
| 6.75% | $895 | $1,221 |
| 7.00% | $918 | $1,240 |
A 15-year refinance of $138,000 near Forrest County runs about $1,183/month versus $850 on a 30-year — a higher payment near Forrest County but far less total interest over the life of the Forrest County loan.
Cash-out refinance in Forrest County
With values near $203,000, an 80% cash-out leaves about $24,400 available in Forrest County after paying off the current $138,000 balance.
| Cash-Out Figure | Amount |
|---|---|
| Estimated home value | $203,000 |
| Typical current balance | $138,000 |
| 80% LTV ceiling (new loan) | $162,400 |
| Estimated cash available | $24,400 |
In Forrest County, Mississippi, property taxes average roughly 0.79% of value, so escrow on a $203,000 home adds about $134/month beyond principal and interest. A $138,000 balance sits near 68% loan-to-value, leaving about $65,000 in equity — room for a rate-and-term refinance now and a cash-out later around Forrest County.
When a Forrest County refinance becomes jumbo
Forrest County's 2026 conforming limit is $806,500 for a single-family home — the national baseline used across most of the South. Refinance a balance above it and you are in jumbo territory, which carries its own rates and guidelines.
- Forrest County value about $203,000 with a $138,000 balance (~68% LTV).
- Monthly savings near $115; break-even around month 30 on $3,450 of costs.
- Five-year net of about $3,464 and cash-out room near $24,400.
- Conforming limit $806,500; current equity roughly $65,000 near Forrest County.
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Frequently Asked Questions
- How much can I save refinancing in Forrest County in 2026?
- On a typical $138,000 balance, moving from about 7.50% to 6.25% saves roughly $115/month in principal and interest. Your savings depend on your current rate, balance, and term.
- How much cash can I take out of my Forrest County-area home?
- Conventional cash-out refinances are capped at 80% of appraised value. On an estimated $203,000 Forrest County home with a $138,000 balance, that is about $24,400 in available cash.
- What is the conforming loan limit in Forrest County for 2026?
- The 2026 conforming limit is $806,500 for a one-unit home (the national baseline). Refinances above that are jumbo loans.
- When does a refinance pay off in Forrest County?
- Divide your closing costs (about $3,450 here) by your monthly savings. In this example you break even near month 30 — refinance only if you will keep the home past that.
- How much equity is in a typical Forrest County-area home?
- On an estimated $203,000 value with a $138,000 balance, that is about $65,000 in equity — roughly 32%. A conventional cash-out requires you to keep 20%.
- Is now a good time to refinance in Forrest County?
- A common rule of thumb: refinance when you can cut your rate by about 0.75 to 1% and stay past your break-even (near month 30 here). On a $138,000 Forrest County balance, that move is worth roughly $115 a month.