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:
Today's Georgia Mortgage Rates
30 Yr. Fixed6.375%APR 6.889%
15 Yr. Fixed5.500%APR 6.010%
30 Yr. Fixed FHA5.750%APR 6.691%
30 Yr. Fixed VA5.750%APR 6.154%
Mortgage Rates as of April, 28 2025 See All Rates | See Rate Assumptions
All Rates
Term
Rates
APR
30 Yr Fixed Conforming
6.375%
6.889%
15 Yr Fixed Conforming
5.500%
6.010%
30 Yr Fixed FHA
5.750%
6.691%
30 Yr Fixed VA
5.750%
6.154%
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 95%; a minimum FICO score of 760, lock days at 30.
Term
Loan Amount
LTV
Points
30yr Fixed
$351,000
95.0%
1
15yr Fixed
$351,000
95.0%
1
30yr Jumbo
$750,000
75.0%
1
30yr FHA
$275,000
96.5%
1
30yr VA
$300,000
100.0%
1
Rates may be higher for loan amounts under $351,000. 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 $300,000 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
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.
