Savannah, Georgia Mortgage Refinance Interest Rates
Discover the latest mortgage interest rates to make informed decisions about your home refinancing.
Interest rate over time in Savannah, Georgia
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in Savannah, Georgia
Showing results for: 15-Year Fixed and 30-Year Fixed refinance offers for Single Family or Townhome properties in GA, total loan amount of $228,000.
| Lender | APR / Rate | Monthly Payment | |
|---|---|---|---|
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
Should You Refinance in Savannah?
1.9% historical state HPI change
· Data retrieved 10/11/20262018–2022 ACS median owner-occupied home value for ZCTA 31401: $470,700. This is not a current citywide sale price or a valuation of your property. Census home-value source. Georgia statewide house prices changed 1.9% over four quarters, using the FHFA state house-price index via FRED. This historical state measure is not city growth, a property valuation, or a forecast. Property-tax examples use a statewide planning assumption, not your local tax bill. Data retrieved 10/11/2026; retrieval does not change the observation period.
Georgia's historical statewide house-price index changed 1.9% over four quarters. This does not establish growth in Savannah, your equity, or future appreciation. Compare your payoff balance, lender-accepted valuation, fees, and loan term before refinancing.
Local Market Context
2018–2022 ACS median owner-occupied home value for ZCTA 31401: $470,700. This is not a current citywide sale price or a valuation of your property.
Estimated Monthly Payment in Savannah
Based on an illustrative home value of $470,700 with 20% down at 7.33% (30-year fixed):
| Principal & Interest | $2,589.27/mo |
| Property Tax | $361/mo |
| Homeowner's Insurance (est.) | $125/mo |
| Estimated Total (PITI) | $3,075/mo |
Rate Savings Scenarios for Savannah
How your monthly principal & interest payment changes at different rates (20% down on $470,700 example home):
| Interest Rate | Monthly P&I | vs. Current Rate |
|---|---|---|
| Current rate (7.33%) | $2,589 | — |
| 6.83% (–0.5%) | $2,462 | –$127/mo |
| 6.33% (–1.0%) | $2,338 | –$251/mo |
Down Payment Impact in Savannah
Monthly principal & interest at 7.33% for different down payments on the $470,700 example home:
| Down Payment | Loan Amount | Monthly P&I |
|---|---|---|
| 10% down ($47,070) | $423,630 | $2,913 |
| 15% down ($70,605) | $400,095 | $2,751 |
| 20% down ($94,140) | $376,560 | $2,589 |
Property Tax Impact
The 0.92% property-tax planning assumption for Georgia produces an illustrative $361 monthly tax amount at the example home value. It is not a verified Savannah tax rate. Use your own assessment and tax bill; refinancing does not itself reduce property taxes.
Georgia ranks 27th (average/low) nationally for property taxes, which directly affects your total monthly payment when buying or refinancing.
Calculate Your Exact Refinance Savings
Get a personalized analysis based on your specific mortgage details, compare multiple offers, and see your break-even point.
Use Refinance CalculatorCheck equity before refinancing in Savannah
Estimate loan-to-value using your own mortgage payoff balance and the property value accepted by your lender. Include any financed closing costs or cash-out in the proposed balance. A historical statewide house-price index does not establish your property's equity.
Before paying to refinance for PMI savings, ask your servicer about cancellation on the existing loan. Compare ways to remove PMI without refinancing.
Property Tax Tip for Savannah Homeowners
Use your current tax bill and insurance premium when comparing total payments. Refinancing does not itself lower those charges. Escrow deposits and prepaid expenses affect cash needed at closing, and assessments and premiums can change afterward.
When is a mortgage refinance worth considering in Savannah?
Compare your current loan with an actual lender offer, including the remaining term, closing costs, and how long you will keep the loan. A lower payment can come from extending repayment rather than reducing total cost. Statewide house-price growth does not establish your home value or guarantee savings.
Can refinancing remove PMI on my Savannah home?
A conventional refinance may avoid borrower-paid PMI if the new balance and lender-accepted value meet the loan requirements. Include financed closing costs in that balance. First ask your servicer whether you can cancel PMI on the existing loan without refinancing. FHA mortgage insurance and lender-paid insurance follow different rules; appreciation alone does not guarantee cancellation.
How should I compare mortgage refinance offers in Savannah?
Compare Loan Estimates for the same loan amount, term, rate-lock period, and treatment of points and lender credits. Compare lender-controlled charges separately from taxes, insurance, and prepaid expenses. A no-closing-cost offer can exchange upfront fees for a higher rate or larger balance.
How do I check equity and jumbo eligibility in Savannah?
Use your own payoff balance and the valuation accepted by the lender. Historical ZIP-area home values do not determine your equity. For one-unit properties in 2026, the FHFA baseline conforming limit is $832,750, with higher limits in certain locations. Check the property county and number of units; a high home price does not determine its county limit.
What changes when I choose a mortgage refinance?
A longer new term can lower monthly payments while extending repayment beyond your current payoff date. Compare remaining interest and the balance at your planned sale date, as well as monthly cash flow.
Check the CFPB PMI cancellation guidance and FHFA county loan limits. Remove PMI without refinancing, compare Loan Estimates, or compare refinance costs in the calculator.
How Savannah compares across Georgia
These ZIP-area home-value examples compare estimated monthly principal and interest across Georgia. They use historical ACS values or illustrative fallback estimates, rather than current citywide prices (80% loan-to-value) at today's average 30-year fixed rate of 7.33%:
| City | Example home value | Est. monthly P&I | vs. Savannah |
|---|---|---|---|
| Savannah (ZCTA / ZIP 31401) | $470,700 ACS 2018–2022 | $2,589 | — |
| Atlanta (ZCTA / ZIP 30301) | $275,000 Illustrative estimate | $1,513 | −$1,076/mo |
| Columbus (ZCTA / ZIP 31901) | $163,100 ACS 2018–2022 | $897 | −$1,692/mo |
| Augusta (ZCTA / ZIP 30901) | $83,900 ACS 2018–2022 | $462 | −$2,127/mo |
Estimates use the listed ZIP-area values with the same statewide average rate; actual quotes vary by lender, credit profile, and loan size.