Refinancing your mortgage replaces your current loan with a new one. If you have enough equity in the home, you can get cash in the process. In that case, you will have done a cash-out refinance. Like in most other places, Georgia cash out refinance requires you to have at least 20% equity in your home. That means you should have some build up equity in the property. Want to learn how to increase the value of your house? Moreira Team can help. Talk to us today.
What are the Current Georgia Cash Out Refinance Rates?
While getting cash is a good enough motivation for doing a cash out refi, the primary reason should be to lower your mortgage rates, insurance charges and by extension your monthly payments. With the new mortgage comes a new loan with current Georgia mortgage rates and insurance premiums (not the ones you took out the loan with). Currently, Georgia’s interest rates are:
Mortgage Rates as of June, 4 2025 | See Rate Assumptions | Rate Terms Explained
Rate Table Assumptions
Conventional Rates shown assume a purchase transaction.
Annual Percentage Rate (APR) calculations assume a purchase transaction of a single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than or equal to 96.5%; a minimum FICO score of 740, lock days at 15.
Term
Loan Amount
LTV
Points
30yr Fixed Conv.
$375,000
75.0%
1
15yr Fixed Conv.
$375,000
75.0%
1
30yr Fixed FHA
$289,500
96.5%
1
15yr Fixed FHA
$289,500
96.5%
1
30yr Fixed VA
$300,000
100.0%
1
15yr Fixed VA
$300,000
100.0%
1
30yr Fixed Jumbo
$900,000
75.0%
1
15yr Fixed Jumbo
$900,000
75.0%
1
30yr Fixed USDA
$275,000
100.0%
1
Rates may be higher for loan amounts under $375,000. Please call for details.
Rates are subject to change without notice.
Closing Costs assume that borrower will escrow monthly property tax and insurance payments.
Subject to underwriter approval; not all applicants will be approved.
Fees and charges apply.
Payments do not include taxes and insurance.
Rates based on information gathered from OptimalBlue.
Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and USDA loans as well as conventional loans where the loan to value is greater than 80%.
Restrictions may apply. Ask for details.
Moreira Team | MortgageRight is an Equal Opportunity Lender
“Rate Over X%” Assumptions
Rates shown assume a refinance transaction.
Annual Percentage Rate (APR) calculations assume a purchase transaction of a single-family, detached, owner-occupied primary residence; a loan-to-value of 75%; a minimum FICO score of 740; a Loan Term of 360 months; and a loan amount of $375,000 for conforming loans.
Rates may be higher for loan amounts under $275,000. Please call for details.
Rates are subject to change without notice.
Closing Costs assume that borrower will escrow monthly property tax and insurance payments.
Subject to underwriter approval; not all applicants will be approved.
Fees and charges apply.
Payments do not include taxes and insurance.
Rates based on information gathered from OptimalBlue.
Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and USDA loans as well as conventional loans where the loan to value is greater than 80%.
Restrictions may apply.
Moreira Team | MortgageRight is an Equal Opportunity Lender
Rate Terms Explained
What are Mortgage Points?
Mortgage points, often called discount points, are optional fees that a homebuyer pays at closing in exchange for a reduced interest rate on their mortgage. This process is commonly referred to as "buying down the rate" or a "rate buydown.
What are Lender Credits?
Lender credits are a feature in mortgage financing where the lender agrees to cover some your closing costs in exchange for you accepting a higher interest rate on your loan. This arrangement can make it easier for buyers to afford the upfront costs of purchasing a home.
What is APR?
APR, or annual percentage rate, is a measure of the total yearly cost of borrowing money through a mortgage. Unlike the regular interest rate, which is just the cost of borrowing the principal, the APR incorporates both the interest rate and many of the fees and costs associated with getting your loan.
Rate Feature
Lender Credit
vs
Discount Points
Upfront Costs
Lower (less paid at closing)
Higher (more paid at closing)
Interest Rate
Higher Rate
Lower
Long Term Cost
Higher (more interest paid)
Lower (less interest paid)
Best for...
Short Term Ownership or Cash Strapped
Long Term Ownership or Cash Rich
Ultimately, on top of the need for cash and lowering interest rates, your decision should be based on a variety of other factors like expected interest rates, the amount of equity in your home and how long you plan to live in the house. In Georgia, refinancing comes with closing costs, so you should make sure that you can break even (pay the refinance costs without incurring a loss) while still in the house.
Does it make sense to do a Georgia cash out refinance now? Let our experts at Moreira Team do a comprehensive analysis for you. We will take a deep look at your unique situation and come up with a scenario that will get you the cash you need at a payment that makes sense for you.
