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Georgia Mortgage Rates

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Use SmartAsset's mortgage comparison tool to compare mortgage rates from the top banks 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 in this state, mortgage interest 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 4.79% 4.75% +0.04
15 year fixed 4.31% 4.08% +0.22
5/1 ARM 4.48% 3.88% +0.60
30 yr fixed mtg refi 4.79% 4.79% 0.00
15 yr fixed mtg refi 4.31% 4.31% 0.00
7/1 ARM refi 4.58% 4.56% +0.02
15 yr jumbo fixed mtg refi 4.28% 4.19% +0.09

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Georgia Mortgage Rates Quick Facts
  • Median Home Value: $174,000 (Zillow)
  • Loan Funding Rate: 58.9% (CFPB)
  • Average Mortgage Rate: 3.99% (Freddie Mac)
  • Homeownership Rate: 66.3% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,339 (U.S. Census Bureau)

Historical Mortgage Rates in Georgia

Georgia rates have historically followed closely to the national average.

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

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 $177,000 while the national median is $228,000.

The conforming loan limit holds steady at $453,100, 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 $294,515 and top out at $515,200.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Appling$453,100$294,515
Atkinson$453,100$294,515
Bacon$453,100$294,515
Baker$453,100$294,515
Baldwin$453,100$294,515
Banks$453,100$294,515
Barrow$453,100$359,950
Bartow$453,100$359,950
Ben Hill$453,100$294,515
Berrien$453,100$294,515
Bibb$453,100$294,515
Bleckley$453,100$294,515
Brantley$453,100$294,515
Brooks$453,100$294,515
Bryan$453,100$294,515
Bulloch$453,100$294,515
Burke$453,100$294,515
Butts$453,100$359,950
Calhoun$453,100$294,515
Camden$453,100$294,515
Candler$453,100$294,515
Carroll$453,100$359,950
Catoosa$453,100$294,515
Charlton$453,100$294,515
Chatham$453,100$294,515
Chattahoochee$453,100$294,515
Chattooga$453,100$294,515
Cherokee$453,100$359,950
Clarke$453,100$320,850
Clay$453,100$294,515
Clayton$453,100$359,950
Clinch$453,100$294,515
Cobb$453,100$359,950
Coffee$453,100$294,515
Colquitt$453,100$294,515
Columbia$453,100$294,515
Cook$453,100$294,515
Coweta$453,100$359,950
Crawford$453,100$294,515
Crisp$453,100$294,515
Dade$453,100$294,515
Dawson$453,100$359,950
Decatur$453,100$294,515
Dekalb$453,100$359,950
Dodge$453,100$294,515
Dooly$453,100$294,515
Dougherty$453,100$294,515
Douglas$453,100$359,950
Early$453,100$294,515
Echols$453,100$294,515
Effingham$453,100$294,515
Elbert$453,100$294,515
Emanuel$453,100$294,515
Evans$453,100$294,515
Fannin$453,100$294,515
Fayette$453,100$359,950
Floyd$453,100$294,515
Forsyth$453,100$359,950
Franklin$453,100$294,515
Fulton$453,100$359,950
Gilmer$453,100$294,515
Glascock$453,100$294,515
Glynn$453,100$294,515
Gordon$453,100$294,515
Grady$453,100$294,515
Greene$515,200$515,200
Gwinnett$453,100$359,950
Habersham$453,100$294,515
Hall$453,100$294,515
Hancock$453,100$294,515
Haralson$453,100$359,950
Harris$453,100$294,515
Hart$453,100$294,515
Heard$453,100$359,950
Henry$453,100$359,950
Houston$453,100$294,515
Irwin$453,100$294,515
Jackson$453,100$294,515
Jasper$453,100$359,950
Jeff Davis$453,100$294,515
Jefferson$453,100$294,515
Jenkins$453,100$294,515
Johnson$453,100$294,515
Jones$453,100$294,515
Lamar$453,100$359,950
Lanier$453,100$294,515
Laurens$453,100$294,515
Lee$453,100$294,515
Liberty$453,100$294,515
Lincoln$453,100$294,515
Long$453,100$294,515
Lowndes$453,100$294,515
Lumpkin$453,100$294,515
Mcduffie$453,100$294,515
Mcintosh$453,100$294,515
Macon$453,100$294,515
Madison$453,100$320,850
Marion$453,100$294,515
Meriwether$453,100$359,950
Miller$453,100$294,515
Mitchell$453,100$294,515
Monroe$453,100$294,515
Montgomery$453,100$294,515
Morgan$453,100$359,950
Murray$453,100$294,515
Muscogee$453,100$294,515
Newton$453,100$359,950
Oconee$453,100$320,850
Oglethorpe$453,100$320,850
Paulding$453,100$359,950
Peach$453,100$294,515
Pickens$453,100$359,950
Pierce$453,100$294,515
Pike$453,100$359,950
Polk$453,100$294,515
Pulaski$453,100$294,515
Putnam$453,100$294,515
Quitman$453,100$294,515
Rabun$453,100$294,515
Randolph$453,100$294,515
Richmond$453,100$294,515
Rockdale$453,100$359,950
Schley$453,100$294,515
Screven$453,100$294,515
Seminole$453,100$294,515
Spalding$453,100$359,950
Stephens$453,100$294,515
Stewart$453,100$294,515
Sumter$453,100$294,515
Talbot$453,100$294,515
Taliaferro$453,100$294,515
Tattnall$453,100$294,515
Taylor$453,100$294,515
Telfair$453,100$294,515
Terrell$453,100$294,515
Thomas$453,100$294,515
Tift$453,100$294,515
Toombs$453,100$294,515
Towns$453,100$294,515
Treutlen$453,100$294,515
Troup$453,100$294,515
Turner$453,100$294,515
Twiggs$453,100$294,515
Union$453,100$294,515
Upson$453,100$294,515
Walker$453,100$294,515
Walton$453,100$359,950
Ware$453,100$294,515
Warren$453,100$294,515
Washington$453,100$294,515
Wayne$453,100$294,515
Webster$453,100$294,515
Wheeler$453,100$294,515
White$453,100$294,515
Whitfield$453,100$294,515
Wilcox$453,100$294,515
Wilkes$453,100$294,515
Wilkinson$453,100$294,515
Worth$453,100$294,515

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-rate mortgage rate is 4.8%.

Georgia Jumbo Loan Rates

A jumbo loan exceeds the conforming loan limit, which in the vast majority of Georgia’s counties is $453,100. That number also happens to be average for the United States. If you are considering a jumbo loan for your mortgage, be aware that they come with higher interest rates.

The average jumbo loan rate in Georgia is 4.5%.

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 an ARM in Georgia is 4.5%.

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

Resource Problem or Issue Who Qualifies Website
HomeSafe Georgia Foreclosure avoidance. Homeowners who are struggling and may be facing foreclosure. https://www.homesafegeorgia.com/
Georgia Dream Homeownership Program First-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. https://www.dca.ga.gov/GeorgiaDream/
Invest Atlanta Affordable Homeownership Program Affording 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. https://www.investatlanta.com/intown-living/homebuyer-incentives/
USDA Rural Development - Single family loans Offers 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. http://www.rd.usda.gov/programs-services/all-programs/single-family-housing-programs
Home Affordable Refinance Program Refinancing. Single family homes and condos that fit within lending loan limits. http://www.harp.gov/

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 property title transfers. The state real estate transfer tax for Georgia is $0.10/$100, or 0.1%. Discuss this tax with your lawyer or accountant before buying. In Georgia, the seller typically pays this fee.

Georgia Mortgage Refinance

Refinancing in Georgia? Try your state Home Affordable Refinance Program, which can help qualifying applicants gain access to interest and principal payment reductions and low closing costs. The Georgia HARP accepts single family homes and condos. There are various HARP lenders throughout the state.

If you don’t qualify for HARP or a similar program, 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 2016 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset