FINANCIAL GUIDE

HELOC Rates in Mississippi: Unlock Your Home Equity

Last Updated: May 2026

2026Updated Guide

ExpertEditorial Review

FreeNo Credit Pull

📋 Reviewed by WiseIQ Editorial Team · Updated April 2026 · Editorially independent

Mississippi

Discover competitive Home Equity Line of Credit (HELOC) rates in Mississippi. WiseIQ helps you compare options from top lenders to find the best solution for your financial needs, whether it you're consolidating debt, funding home improvements, or covering major expenses.

WiseIQ Expert Tip

A 0.5% difference in mortgage rate on a $350,000 loan saves over $35,000 in interest over 30 years. Always get at least 3 quotes before choosing a lender.

Mississippi Financial Snapshot

HELOC in Mississippi: What You Need to Know

Mississippi, known as the Magnolia State, has a population of 3.0M with a median household income of approximately $45,000. The current unemployment rate stands at 4.2%, which lenders consider when evaluating applications from Mississippi residents.

3.0M

Population

$45,000

Median Income

4.2%

Unemployment

Major financial hub: Jackson is the primary financial center for Mississippi residents, with access to both national and regional lenders.

Median Home Value: $189,895 (Zillow, Feb 2026)
Median Listing Price: $285,000 (Realtor.com, Feb 2026)
Home Price Change (YoY): +2.7% (Redfin, Feb 2026)

Top HELOC Lenders in Mississippi

FSFFirst South Financial

First South Financial Credit Union

Intro APR: 1.99% for 6 months, then variable 7.00% - 18.00%

Low introductory rate for initial savings.

Competitive variable rates after intro period.
Flexible access to funds.
Local Mississippi presence.

Check Rates

KFCKeesler Federal Credit Union

Keesler Federal Credit Union

Variable APR: 4.00% (floor) - 18.00% (ceiling)

Reliable local credit union with strong community ties.

Transparent rate structure.
Personalized service.
Available for various home equity needs.

Check Rates

GBGrand Bank

Grand Bank

Intro APR: 1.99% ARM, then variable

Attractive introductory rate for short-term needs.

Suitable for home improvements.
Debt consolidation options.
Local banking support.

Check Rates

Navy Federal Credit Union

Variable APR: As low as 7.000%

Excellent rates for members with good credit.

Nationally recognized lender.
Competitive rates for qualified borrowers.
Dedicated customer service.

Check Rates

Bank of America

Variable APR: Example 5.6% - 6.3% (fluctuating)

Major national bank with extensive financial services.

Wide range of financial products.
Online account management.
Potential for rate discounts.

Check Rates

🎯

Not sure which option is right for you?

Answer 3 quick questions and get a personalized recommendation in seconds.

Take the Quiz →

HELOC Rate Comparison Table

Rates verified May 2026 · Updated weekly

Lender	Intro APR	Variable APR Range	LTV Max	Min Credit Score
First South Financial	1.99% (6 mos)	7.00% - 18.00%	80%	680
Keesler Federal Credit Union	N/A	4.00% - 18.00%	85%	660
Grand Bank	1.99% ARM	Variable	80%	680
Navy Federal Credit Union	N/A	7.00% - 18.00%	90%	700
Bank of America	N/A	5.60% - 15.00%	85%	720
SoFi	N/A	8.50% - 15.00%	90%	680

How to Choose the Best HELOC in Mississippi

Understand Your Needs: Determine how much you need to borrow and for what purpose. This will help you decide between a lump sum (home equity loan) or a revolving line of credit (HELOC).
Compare Interest Rates: Look for competitive introductory and variable rates. Pay attention to the index used and the margin added by the lender.
Check Fees and Closing Costs: Some HELOCs come with annual fees, transaction fees, or closing costs. Factor these into your overall cost analysis.
Review Draw and Repayment Periods: Understand how long you have to draw funds and the terms for repaying the principal and interest.

WiseIQ Editorial Team

Reviewed by Certified Financial Planners & Industry Experts

Our editorial team consists of financial writers, CFPs, and former banking professionals dedicated to providing accurate, unbiased financial guidance. All content is fact-checked and updated regularly. Learn about our editorial standards →

Frequently Asked Questions About Mississippi HELOCs

What is a HELOC?

A Home Equity Line of Credit (HELOC) is a revolving line of credit that uses your home's equity as collateral. It allows you to borrow money as needed, up to a certain limit, and only pay interest on the amount you've used.

How do HELOC rates work in Mississippi?

HELOC rates are typically variable, meaning they can change over time. They are often tied to an index, such as the prime rate, plus a margin set by the lender.

What are the typical eligibility requirements for a HELOC in Mississippi?

Lenders generally look for a good credit score (typically 660+), a low debt-to-income ratio, and sufficient home equity (often requiring a loan-to-value ratio of 80% or less).

Can I get a HELOC with bad credit in Mississippi?

While more challenging, some lenders may offer HELOCs to borrowers with lower credit scores, often with higher interest rates or stricter terms. It's best to shop around and compare options.

What can I use a HELOC for?

HELOCs are commonly used for home renovations, debt consolidation, education expenses, medical bills, or other significant expenditures.

HELOC Rates in Mississippi: Unlock Your Home Equity

Mississippi Financial Snapshot

HELOC in Mississippi: What You Need to Know

Top HELOC Lenders in Mississippi

FSFFirst South Financial

KFCKeesler Federal Credit Union

GBGrand Bank

Navy Federal Credit Union

Bank of America

HELOC Rate Comparison Table

How to Choose the Best HELOC in Mississippi

Frequently Asked Questions About Mississippi HELOCs

People Also Ask