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Georgia Mortgage Rates

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Use SmartAsset's mortgage rate comparison tool to compare mortgage rates from the top lenders and find the one that best suits your needs.

Overview of Georgia Mortgages

With its college towns, iconic coastlines and historic streets beneath Spanish moss, Georgia is a wonderfully diverse southern state. For homebuyers here, mortgage rates are relatively stable and often right in line with the national average. Georgia’s conforming loan limits are uniform at the average national number, but FHA loan limits reflect the real estate price diversity of some of the state’s counties.

Today's Mortgage Rates in Georgia

Product Today Last Week Change
30 year fixed 4.18% 4.18% 0.00
15 year fixed 3.56% 3.56% 0.00
5/1 ARM 3.00% 3.00% 0.00
30 yr fixed mtg refi 4.13% 3.75% +0.38
15 yr fixed mtg refi 3.56% 3.56% 0.00
7/1 ARM refi 3.13% 3.00% +0.13
15 yr jumbo fixed mtg refi 3.13% 3.50% -0.38

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Historical Mortgage Rates in Georgia

Photo Credit: ©iStock.com/Bill Stamatis

Georgia Mortgage Rates Quick Facts

  • Median Home Value: $158,400 (U.S. Census Bureau)
  • Loan Funding Rate: 48.82% (CFPB)
  • Average Mortgage Rate: 4.58% (FHFA)
  • Homeownership Rate: 63.8% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,383 (U.S. Census Bureau)

Georgia rates have historically followed closely to national averages.

A financial advisor in Georgia can help you plan for the homebuying process. Financial advisors can also help with investing and financial plans, including tax, retirement and estate planning, to make sure you are preparing for the future.

Georgia Historic Mortgage Rates

YearGeorgia RateU.S. Rate
198214.7614.73
198312.4812.26
198411.9011.99
198510.6011.17
19869.649.79
19878.788.95
19888.858.98
19899.769.81
19909.339.74
19919.219.07
19927.907.83
19937.006.93
19947.577.31
19957.847.69
19967.577.58
19977.507.52
19986.956.97
19997.237.14
20007.967.86
20016.906.94
20026.456.44
20035.725.67
20045.695.68
20055.875.85
20066.566.54
20076.376.42
20086.056.06
20094.955.05
20104.754.81
20114.524.56
20123.643.65
20133.803.84
20144.124.13
20153.853.88
20163.723.73
20174.074.03
20184.584.56

Georgia Mortgages Overview

Compared to the rest of the nation, the average Georgia home is relatively inexpensive. According to Zillow, the median price of homes sold in the state is $199,400, while the national median is higher at $237,000.

The conforming loan limit holds steady at $510,400, with the exception of Greene County, which has a limit of $515,200. The FHA limits have a much wider variety throughout the state and range from the baseline $331,760 and top out at $515,200.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Appling$510,400$331,760
Atkinson$510,400$331,760
Bacon$510,400$331,760
Baker$510,400$331,760
Baldwin$510,400$331,760
Banks$510,400$331,760
Barrow$510,400$401,350
Bartow$510,400$401,350
Ben Hill$510,400$331,760
Berrien$510,400$331,760
Bibb$510,400$331,760
Bleckley$510,400$331,760
Brantley$510,400$331,760
Brooks$510,400$331,760
Bryan$510,400$331,760
Bulloch$510,400$331,760
Burke$510,400$331,760
Butts$510,400$401,350
Calhoun$510,400$331,760
Camden$510,400$331,760
Candler$510,400$331,760
Carroll$510,400$401,350
Catoosa$510,400$331,760
Charlton$510,400$331,760
Chatham$510,400$331,760
Chattahoochee$510,400$331,760
Chattooga$510,400$331,760
Cherokee$510,400$401,350
Clarke$510,400$379,500
Clay$510,400$331,760
Clayton$510,400$401,350
Clinch$510,400$331,760
Cobb$510,400$401,350
Coffee$510,400$331,760
Colquitt$510,400$331,760
Columbia$510,400$331,760
Cook$510,400$331,760
Coweta$510,400$401,350
Crawford$510,400$331,760
Crisp$510,400$331,760
Dade$510,400$331,760
Dawson$510,400$401,350
Decatur$510,400$331,760
Dekalb$510,400$401,350
Dodge$510,400$331,760
Dooly$510,400$331,760
Dougherty$510,400$331,760
Douglas$510,400$401,350
Early$510,400$331,760
Echols$510,400$331,760
Effingham$510,400$331,760
Elbert$510,400$331,760
Emanuel$510,400$331,760
Evans$510,400$331,760
Fannin$510,400$331,760
Fayette$510,400$401,350
Floyd$510,400$331,760
Forsyth$510,400$401,350
Franklin$510,400$331,760
Fulton$510,400$401,350
Gilmer$510,400$331,760
Glascock$510,400$331,760
Glynn$510,400$331,760
Gordon$510,400$331,760
Grady$510,400$331,760
Greene$515,200$515,200
Gwinnett$510,400$401,350
Habersham$510,400$331,760
Hall$510,400$331,760
Hancock$510,400$331,760
Haralson$510,400$401,350
Harris$510,400$331,760
Hart$510,400$331,760
Heard$510,400$401,350
Henry$510,400$401,350
Houston$510,400$331,760
Irwin$510,400$331,760
Jackson$510,400$331,760
Jasper$510,400$401,350
Jeff Davis$510,400$331,760
Jefferson$510,400$331,760
Jenkins$510,400$331,760
Johnson$510,400$331,760
Jones$510,400$331,760
Lamar$510,400$401,350
Lanier$510,400$331,760
Laurens$510,400$331,760
Lee$510,400$331,760
Liberty$510,400$331,760
Lincoln$510,400$331,760
Long$510,400$331,760
Lowndes$510,400$331,760
Lumpkin$510,400$331,760
Mcduffie$510,400$331,760
Mcintosh$510,400$331,760
Macon$510,400$331,760
Madison$510,400$379,500
Marion$510,400$331,760
Meriwether$510,400$401,350
Miller$510,400$331,760
Mitchell$510,400$331,760
Monroe$510,400$331,760
Montgomery$510,400$331,760
Morgan$510,400$401,350
Murray$510,400$331,760
Muscogee$510,400$331,760
Newton$510,400$401,350
Oconee$510,400$379,500
Oglethorpe$510,400$379,500
Paulding$510,400$401,350
Peach$510,400$331,760
Pickens$510,400$401,350
Pierce$510,400$331,760
Pike$510,400$401,350
Polk$510,400$331,760
Pulaski$510,400$331,760
Putnam$510,400$331,760
Quitman$510,400$331,760
Rabun$510,400$331,760
Randolph$510,400$331,760
Richmond$510,400$331,760
Rockdale$510,400$401,350
Schley$510,400$331,760
Screven$510,400$331,760
Seminole$510,400$331,760
Spalding$510,400$401,350
Stephens$510,400$331,760
Stewart$510,400$331,760
Sumter$510,400$331,760
Talbot$510,400$331,760
Taliaferro$510,400$331,760
Tattnall$510,400$331,760
Taylor$510,400$331,760
Telfair$510,400$331,760
Terrell$510,400$331,760
Thomas$510,400$331,760
Tift$510,400$331,760
Toombs$510,400$331,760
Towns$510,400$331,760
Treutlen$510,400$331,760
Troup$510,400$331,760
Turner$510,400$331,760
Twiggs$510,400$331,760
Union$510,400$331,760
Upson$510,400$331,760
Walker$510,400$331,760
Walton$510,400$401,350
Ware$510,400$331,760
Warren$510,400$331,760
Washington$510,400$331,760
Wayne$510,400$331,760
Webster$510,400$331,760
Wheeler$510,400$331,760
White$510,400$331,760
Whitfield$510,400$331,760
Wilcox$510,400$331,760
Wilkes$510,400$331,760
Wilkinson$510,400$331,760
Worth$510,400$331,760

Georgia is a deed of trust state which means when you take out a mortgage in the Peach State you’ll most likely get a deed of trust loan document in lieu of an actual mortgage loan document. Lenders who issue deeds of trust usually do not have to go to court to foreclose on the home that the loan applies to. The lender can initiate a “power of sale” foreclosure by hiring a third party to auction the home it wants to foreclose.

Georgia sellers are not required to fill out disclosure forms about their property, but many do anyway. Under Georgia law, a seller is required to fill the buyer in on any important facts or problems having to do with the physical condition of the home. Because of that, most sellers find it easier to complete a written disclosure statement. While that law protects buyers, it’s still important to invest in a thorough home inspection to avoid any surprises before closing day.

30-Year Fixed Mortgage Rates in Georgia

A 30-year fixed-rate mortgage is the most popular type of home mortgage. The mortgage term lasts for 30 years and your interest rate stays the same unless you refinance in the future. Fixed-rate mortgages give you the benefit of a set principal and interest payment each month for the entirety of the loan term. That can help you with planning your budget. Most buyers who plan to stay in their home long term will choose this type of mortgage.

You can also consider a fixed-rate mortgage with a 15-year term and pay a lower interest rate, but your monthly payments will be higher. Georgia’s average 30-year fixed mortgage rate is 3.74%.

Georgia Jumbo Loan Rates

A jumbo loan exceeds the conforming loan limit, which in the vast majority of Georgia’s counties is $510,400. That number also happens to be average for the United States. But if you're considering a jumbo loan for your mortgage, be aware that they come with higher interest rates.

The average jumbo loan rate in Georgia is 3.73%.

Georgia ARM Loan Rates

An adjustable-rate mortgage (ARM) typically offers a lower initial interest rate than a fixed-rate mortgage. The lower rate is available for an introductory period, generally one, three, five, seven or 10 years. When that period ends, the mortgage interest rate can rise.

On the plus side, an adjustable-rate mortgage’s interest can’t suddenly rise to a frighteningly high level. The interest rate is capped at a specific level in the loan’s terms, which means you will know upfront what the highest possible rate could be. That said, the loan rate may still adjust to a level that’s more than you can comfortably afford. It’s important to check that the maximum interest rate is one you can actually pay before choosing an ARM.

The average rate for a 5/1 ARM in Georgia is 3.60%.

Georgia Mortgage Resources

Georgia first-time homebuyers and repeat homebuyers have the option to apply for home buying programs.

HomeSafe Georgia is a state-operated, federally funded mortgage assistance program that works to help homeowners avoid foreclosure. For qualifying homeowners, there is mortgage payment assistance, mortgage reinstatement assistance and mortgage payment reduction.

The Georgia Dream Homeownership Program also helps first-time homebuyers secure a mortgage. For eligible home buyers, they can provide homebuyer education, first mortgage loans and down payment assistance.

Eligible buyers in Atlanta can receive a $10,000 grant from the Atlanta Affordable Homeownership Program toward a down payment or closing costs. That money is forgiven (you don’t have to pay it back) after five years of living in the house.

Available Resources

ResourceProblem or IssueWho Qualifies
HomeSafe GeorgiaForeclosure avoidance.Homeowners who are struggling and may be facing foreclosure.
Georgia Dream Homeownership ProgramFirst-time homebuyers who need assistance securing a mortgage.Borrower must not have owned a home in the past three years, or must be purchasing a home in a targeted area. The borrower must meet income and purchase price limits, have limited assets and must invest at least $1,000 into the purchase transaction.
Invest Atlanta Affordable Homeownership ProgramAffording a mortgage in Atlanta.Must qualify for 30-year fixed rate FHA, VA or Conventional first mortgage. Home buyer cannot exceed $10,000 in liquid assets.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; and Not be suspended or debarred from participation in federal programs.

Georgians who meet certain requirements can also apply for the United States Department of Agriculture Rural Development loan and grant programs. The USDA created these programs to help grow rural communities while offering safe, affordable housing for residents. Loans and grants are available for people looking to purchase a new home or repair their current home, who also meet the requirements set up by the program.

Georgia Mortgage Taxes

Georgia homeowners are allowed to deduct the mortgage interest they pay when they file their federal income taxes. Homeowners may be able double their deductions by including mortgage interest on state income taxes as well. That is the case in Georgia, where the rules follow the federal guides for itemized deductions closely.

Be aware that Georgia also charges taxes on real estate title transfers. The state real estate transfer tax for Georgia is $0.10 per $100, or 0.1%. In Georgia, the seller typically pays this fee.

Georgia Mortgage Refinance

Refinancing in Georgia? While the Home Affordable Refinance Program (HARP) doesn't exist anymore, there's an alternative: the High Loan-to-Value Refinance Option from Fannie Mae.

If neither of these options fit your situation, try working with the lender who issued you your original mortgage and also compare those rates with other lenders to find the solution that works best for you.

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2017 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset