Noxubee County, Mississippi
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Noxubee Real Estate Market Update
The real estate market in Noxubee County, Mississippi, is characterized by relatively affordable housing, with the average home value being $98,028 as of late 2024, which represents a decrease of 4.3% over the past year. This decline may reflect broader economic trends or local market conditions affecting property values.
Noxubee County includes several small towns, with Macon being one of the notable ones, having a median home value of approximately $100,066. Other towns such as Brooksville and Shuqualak contribute to the county's rural charm, although specific population figures for these towns are not detailed in the available data.
Living in Noxubee County offers a predominantly rural lifestyle, with agriculture playing a significant role in the local economy. The area is known for its farming and agricultural activities, which are among the top industries. The county's rural setting, combined with affordable housing, may attract individuals seeking a quieter lifestyle away from urban centers, potentially influencing migration patterns to the area.
2025 Mortgage Loan Limits:
Noxubee County, Mississippi
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Noxubee County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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