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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 minor 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 2.90% 2.96% -0.07
15 year fixed 2.30% 2.30% 0.00
5/1 ARM 2.88% 2.88% 0.00
30 yr fixed mtg refi 2.94% 2.96% -0.02
15 yr fixed mtg refi 2.38% 2.38% 0.00
7/1 ARM refi 3.13% 3.13% 0.00
15 yr jumbo fixed mtg refi 3.13% 3.13% 0.00

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: $202,500 (U.S. Census Bureau)
  • Loan Funding Rate: 48.99% (CFPB)
  • Homeownership Rate: 64.4% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,417 (U.S. Census Bureau)

Georgia rates have historically followed closely to national averages. Homeownership costs are also fairly low on a national scale, as Georgia's median is roughly $200 below the U.S. mark.

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
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

*The FHFA stopped reporting new data in 2018.

Georgia Mortgages Overview

Compared to the rest of the nation, the typical Georgia home is relatively inexpensive. The state's median home value is $202,500, while the national median is considerably higher at $240,500.

The conforming loan limits across Georgia hold steady at $548,250. The FHA loan limits have a much wider variety throughout the state, and range from the baseline $356,362 and top out at $515,200.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Appling$548,250$356,362
Atkinson$548,250$356,362
Bacon$548,250$356,362
Baker$548,250$356,362
Baldwin$548,250$356,362
Banks$548,250$356,362
Barrow$548,250$412,850
Bartow$548,250$412,850
Ben Hill$548,250$356,362
Berrien$548,250$356,362
Bibb$548,250$356,362
Bleckley$548,250$356,362
Brantley$548,250$356,362
Brooks$548,250$356,362
Bryan$548,250$356,362
Bulloch$548,250$356,362
Burke$548,250$356,362
Butts$548,250$412,850
Calhoun$548,250$356,362
Camden$548,250$356,362
Candler$548,250$356,362
Carroll$548,250$412,850
Catoosa$548,250$356,362
Charlton$548,250$356,362
Chatham$548,250$356,362
Chattahoochee$548,250$356,362
Chattooga$548,250$356,362
Cherokee$548,250$412,850
Clarke$548,250$391,000
Clay$548,250$356,362
Clayton$548,250$412,850
Clinch$548,250$356,362
Cobb$548,250$412,850
Coffee$548,250$356,362
Colquitt$548,250$356,362
Columbia$548,250$356,362
Cook$548,250$356,362
Coweta$548,250$412,850
Crawford$548,250$356,362
Crisp$548,250$356,362
Dade$548,250$356,362
Dawson$548,250$412,850
Decatur$548,250$356,362
Dekalb$548,250$412,850
Dodge$548,250$356,362
Dooly$548,250$356,362
Dougherty$548,250$356,362
Douglas$548,250$412,850
Early$548,250$356,362
Echols$548,250$356,362
Effingham$548,250$356,362
Elbert$548,250$356,362
Emanuel$548,250$356,362
Evans$548,250$356,362
Fannin$548,250$356,362
Fayette$548,250$412,850
Floyd$548,250$356,362
Forsyth$548,250$412,850
Franklin$548,250$356,362
Fulton$548,250$412,850
Gilmer$548,250$356,362
Glascock$548,250$356,362
Glynn$548,250$356,362
Gordon$548,250$356,362
Grady$548,250$356,362
Greene$548,250$515,200
Gwinnett$548,250$412,850
Habersham$548,250$356,362
Hall$548,250$356,362
Hancock$548,250$356,362
Haralson$548,250$412,850
Harris$548,250$356,362
Hart$548,250$356,362
Heard$548,250$412,850
Henry$548,250$412,850
Houston$548,250$356,362
Irwin$548,250$356,362
Jackson$548,250$356,362
Jasper$548,250$412,850
Jeff Davis$548,250$356,362
Jefferson$548,250$356,362
Jenkins$548,250$356,362
Johnson$548,250$356,362
Jones$548,250$356,362
Lamar$548,250$412,850
Lanier$548,250$356,362
Laurens$548,250$356,362
Lee$548,250$356,362
Liberty$548,250$356,362
Lincoln$548,250$356,362
Long$548,250$356,362
Lowndes$548,250$356,362
Lumpkin$548,250$356,362
Mcduffie$548,250$356,362
Mcintosh$548,250$356,362
Macon$548,250$356,362
Madison$548,250$391,000
Marion$548,250$356,362
Meriwether$548,250$412,850
Miller$548,250$356,362
Mitchell$548,250$356,362
Monroe$548,250$356,362
Montgomery$548,250$356,362
Morgan$548,250$412,850
Murray$548,250$356,362
Muscogee$548,250$356,362
Newton$548,250$412,850
Oconee$548,250$391,000
Oglethorpe$548,250$356,362
Paulding$548,250$412,850
Peach$548,250$356,362
Pickens$548,250$412,850
Pierce$548,250$356,362
Pike$548,250$412,850
Polk$548,250$356,362
Pulaski$548,250$356,362
Putnam$548,250$356,362
Quitman$548,250$356,362
Rabun$548,250$356,362
Randolph$548,250$356,362
Richmond$548,250$356,362
Rockdale$548,250$412,850
Schley$548,250$356,362
Screven$548,250$356,362
Seminole$548,250$356,362
Spalding$548,250$412,850
Stephens$548,250$356,362
Stewart$548,250$356,362
Sumter$548,250$356,362
Talbot$548,250$356,362
Taliaferro$548,250$356,362
Tattnall$548,250$356,362
Taylor$548,250$356,362
Telfair$548,250$356,362
Terrell$548,250$356,362
Thomas$548,250$356,362
Tift$548,250$356,362
Toombs$548,250$356,362
Towns$548,250$356,362
Treutlen$548,250$356,362
Troup$548,250$356,362
Turner$548,250$356,362
Twiggs$548,250$356,362
Union$548,250$356,362
Upson$548,250$356,362
Walker$548,250$356,362
Walton$548,250$412,850
Ware$548,250$356,362
Warren$548,250$356,362
Washington$548,250$356,362
Wayne$548,250$356,362
Webster$548,250$356,362
Wheeler$548,250$356,362
White$548,250$356,362
Whitfield$548,250$356,362
Wilcox$548,250$356,362
Wilkes$548,250$356,362
Wilkinson$548,250$356,362
Worth$548,250$356,362

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 2.80% (Zillow, Jan. 2021).

Georgia Jumbo Loan Rates

A jumbo loan exceeds the conforming loan limit, which in the vast majority of Georgia’s counties is $548,250. That number also happens to be the most common in 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 30-year fixed jumbo loan rate in Georgia is 2.70% (Zillow, Jan. 2021).

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 3.12% (Zillow, Jan. 2021).

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 $14,000 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 map highlights the best counties in the U.S. (and in each state) for securing a home mortgage. Hover over states and counties to see rankings and data points for each region, or use the map’s tabs to view the top counties for each of the factors included in our analysis.

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

Methodology In order to determine the best places in the country to get a mortgage, our study compared four factors, including overall borrowing costs, likelihood of securing a mortgage, property taxes and annual mortgage payments.

To calculate the overall borrowing costs, we analyzed the expected costs throughout the first five years for 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 mortgage originations (secured mortgages) in each county. Annual mortgage payments are a measure of 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, 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 2018 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset