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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. Its mortgage interest rates, however, are predictable - often right in line with the national average.

Georgia’s conforming loan limits are uniform at the average national number, but the FHA loan limits reflect the diversities of the state’s counties.

Today's Mortgage Rates in Georgia

Product Today Last Week Change

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Georgia Mortgage Rates Quick Facts
  • Average Home Value: $147,000 (zillow.com)
  • Loan Funding Rate: 58.9%
  • Average Mortgage Rate: 3.99%
  • Homeownership Rate: 62.9 (St. Louis Fed)
  • Average Annual Mortgage Payment: $6,729

Historical Mortgage Rates in Georgia

Georgia rates have historically followed closely to the national average. The 2016 Georgia mortgage rates are slightly lower than the average of the rest of the nation.

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

Georgia Mortgages Overview

Compared to the rest of the nation, the average Georgia home is relatively inexpensive at $180,375. This is compared to the national average of $229,737, according to Zillow.

Georgia Mortgage Rates

Single-Family Homes
Percentage of Homes86.80%
Average Property Value$124,739.26
Condominiums
Percentage of Homes5.30%
Average Property Value$138,551.07
PUD Homes
Percentage of Homes5.40%
Average Property Value$132,935.34
Townhomes
Percentage of Homes2.50%
Average Property Value$104,987.50

The conforming loan limit holds steady at $417,000, with the exception of Greene county which has a limit of $515,200. The FHA limits have a much wider variety throughout the state.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Appling$417,000$271,050
Atkinson$417,000$271,050
Bacon$417,000$271,050
Baker$417,000$271,050
Baldwin$417,000$271,050
Banks$417,000$271,050
Barrow$417,000$342,700
Bartow$417,000$342,700
Ben Hill$417,000$271,050
Berrien$417,000$271,050
Bibb$417,000$271,050
Bleckley$417,000$271,050
Brantley$417,000$271,050
Brooks$417,000$271,050
Bryan$417,000$271,050
Bulloch$417,000$271,050
Burke$417,000$271,050
Butts$417,000$342,700
Calhoun$417,000$271,050
Camden$417,000$271,050
Candler$417,000$271,050
Carroll$417,000$342,700
Catoosa$417,000$271,050
Charlton$417,000$271,050
Chatham$417,000$271,050
Chattahoochee$417,000$289,800
Chattooga$417,000$271,050
Cherokee$417,000$342,700
Clarke$417,000$320,850
Clay$417,000$271,050
Clayton$417,000$342,700
Clinch$417,000$271,050
Cobb$417,000$342,700
Coffee$417,000$271,050
Colquitt$417,000$271,050
Columbia$417,000$271,050
Cook$417,000$271,050
Coweta$417,000$342,700
Crawford$417,000$271,050
Crisp$417,000$271,050
Dade$417,000$271,050
Dawson$417,000$342,700
Decatur$417,000$271,050
De Kalb$417,000$342,700
Dodge$417,000$271,050
Dooly$417,000$271,050
Dougherty$417,000$271,050
Douglas$417,000$342,700
Early$417,000$271,050
Echols$417,000$271,050
Effingham$417,000$271,050
Elbert$417,000$271,050
Emanuel$417,000$271,050
Evans$417,000$271,050
Fannin$417,000$271,050
Fayette$417,000$342,700
Floyd$417,000$271,050
Forsyth$417,000$342,700
Franklin$417,000$271,050
Fulton$417,000$342,700
Gilmer$417,000$271,050
Glascock$417,000$271,050
Glynn$417,000$271,050
Gordon$417,000$271,050
Grady$417,000$271,050
Greene$515,200$515,200
Gwinnett$417,000$342,700
Habersham$417,000$271,050
Hall$417,000$271,050
Hancock$417,000$271,050
Haralson$417,000$342,700
Harris$417,000$289,800
Hart$417,000$271,050
Heard$417,000$342,700
Henry$417,000$342,700
Houston$417,000$271,050
Irwin$417,000$271,050
Jackson$417,000$271,050
Jasper$417,000$342,700
Jeff Davis$417,000$271,050
Jefferson$417,000$271,050
Jenkins$417,000$271,050
Johnson$417,000$271,050
Jones$417,000$271,050
Lamar$417,000$342,700
Lanier$417,000$271,050
Laurens$417,000$271,050
Lee$417,000$271,050
Liberty$417,000$271,050
Lincoln$417,000$271,050
Long$417,000$271,050
Lowndes$417,000$271,050
Lumpkin$417,000$271,050
McDuffie$417,000$271,050
McIntosh$417,000$271,050
Macon$417,000$271,050
Madison$417,000$320,850
Marion$417,000$289,800
Meriwether$417,000$342,700
Miller$417,000$271,050
Mitchell$417,000$271,050
Monroe$417,000$271,050
Montgomery$417,000$271,050
Morgan$417,000$342,700
Murray$417,000$271,050
Muscogee$417,000$289,800
Newton$417,000$342,700
Oconee$417,000$320,850
Oglethorpe$417,000$320,850
Paulding$417,000$342,700
Peach$417,000$271,050
Pickens$417,000$342,700
Pierce$417,000$271,050
Pike$417,000$342,700
Polk$417,000$271,050
Pulaski$417,000$271,050
Putnam$417,000$271,050
Quitman$417,000$271,050
Rabun$417,000$271,050
Randolph$417,000$271,050
Richmond$417,000$271,050
Rockdale$417,000$342,700
Schley$417,000$271,050
Screven$417,000$271,050
Seminole$417,000$271,050
Spalding$417,000$342,700
Stephens$417,000$271,050
Stewart$417,000$271,050
Sumter$417,000$271,050
Talbot$417,000$271,050
Taliaferro$417,000$271,050
Tattnall$417,000$271,050
Taylor$417,000$271,050
Telfair$417,000$271,050
Terrell$417,000$271,050
Thomas$417,000$271,050
Tift$417,000$271,050
Toombs$417,000$271,050
Towns$417,000$271,050
Treutlen$417,000$271,050
Troup$417,000$271,050
Turner$417,000$271,050
Twiggs$417,000$271,050
Union$417,000$271,050
Upson$417,000$271,050
Walker$417,000$271,050
Walton$417,000$342,700
Ware$417,000$271,050
Warren$417,000$271,050
Washington$417,000$271,050
Wayne$417,000$271,050
Webster$417,000$271,050
Wheeler$417,000$271,050
White$417,000$271,050
Whitfield$417,000$271,050
Wilcox$417,000$271,050
Wilkes$417,000$271,050
Wilkinson$417,000$271,050
Worth$417,000$271,050

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 in lieu of an actual mortgage. In these states, 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

Have you decided on a 30-year mortgage for your Georgia property? 30-year fixed-rate mortgages are the most popular type of home mortgage. The mortgage term lasts for 30 years -- meaning that’s how long you have to pay off the loan – and your interest rate won’t change, unless you refinance. With a fixed-rate mortgage you can figure out upfront how much you can afford to pay each month. As such fixed-rate mortgages tend to be the preferred option for owners who plan to stay in their home long term.

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. The average Georgia mortgage rate for fixed-rate 30-year mortgages is 3.91%.

Georgia Jumbo Loan Rates

“Jumbo loans” exceed the conforming loan limit, which in the vast majority of Georgia’s counties is $417,000. 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 3.88%.

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. 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 2.73%.

Georgia Mortgage Resources

First or repeat homebuyers, whether you’re looking to become an Atlanta resident or find a quiet place in the country, there are programs in Georgia to help you make that happen.

HomeSafe Georgia is a state-operated, federally funded mortgage assistance program that works to help homeowners avoid foreclosure. For qualifying homeowners, they offer 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.

Looking for a home in Atlanta? Eligible buyers can receive a $10,000 grant from the Atlanta Affordable Homeownership Program toward a down payment or closing costs. That money is totally forgiven after five years of living in the house.

Available Resources

ResourceProblem or IssueWho QualifiesWebsite
HomeSafe GeorgiaForeclosure avoidance.Homeowners who are struggling and may be facing foreclosure.https://www.homesafegeorgia.com/
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.https://www.dca.ga.gov/GeorgiaDream/
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.https://www.investatlanta.com/intown-living/homebuyer-incentives/
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.http://www.rd.usda.gov/programs-services/all-programs/single-family-housing-programs
Home Affordable Refinance ProgramRefinancing.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 (up to $1,000,000.) 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 2015 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset