🏠 Georgia Mortgage Calculator

Use this Georgia mortgage calculator to estimate your monthly home loan payment, covering principal, interest, property tax, homeowner’s insurance, PMI, and HOA fees. Georgia’s median home price is approximately $350,000, and the state’s moderate property tax rate of about 0.85% helps keep monthly costs manageable compared to many other states.

Enter your home price, down payment, interest rate, and loan term to see your estimated payment. Georgia buyers should also plan for the state’s intangible tax of 0.30% on new mortgage debt—a closing cost unique to the Peach State. Metro Atlanta dominates the market, but cities like Savannah, Augusta, and Columbus offer more affordable entry points. The Georgia Dream Homeownership Program provides competitive rates and up to $7,500 in down payment assistance for qualifying first-time buyers.

Georgia Housing Market Overview

Georgia’s housing market is anchored by the fast-growing Atlanta metropolitan area, which accounts for more than half of the state’s home sales. The statewide median home price is near $350,000. Within metro Atlanta, medians range from $300,000 in outer suburbs like Clayton and Henry counties to $500,000 or more in affluent intown neighborhoods and north-side suburbs such as Buckhead, Sandy Springs, and Johns Creek.

Outside Atlanta, cities like Savannah, Augusta, Columbus, and Macon offer significantly lower price points, with medians between $200,000 and $280,000. Georgia’s population has grown steadily, driven by job opportunities in logistics, film production, technology, and healthcare, keeping demand for housing healthy across the state.

Property Taxes in Georgia

Georgia’s effective property tax rate averages about 0.85% of assessed value, below the national average. However, Georgia only assesses property at 40% of fair market value, and millage rates vary by county, city, and school district. On a $350,000 home, you can expect an annual tax bill in the range of $2,500–$3,500, depending on the county.

Georgia provides a standard homestead exemption that varies by county. In many counties, the exemption removes $2,000–$4,000 from the assessed value for school taxes and may offer additional relief for county and city taxes. Fulton County (which includes most of Atlanta) offers a $30,000 homestead exemption off the assessed value for school taxes. Seniors, disabled veterans, and surviving spouses may qualify for enhanced exemptions.

Georgia-Specific Mortgage Costs

Georgia charges an intangible tax on new mortgage debt at a rate of $1.50 per $500 (effectively 0.30%) of the loan amount. On a $280,000 mortgage, the intangible tax is $840. This is a one-time cost paid at closing and is typically the buyer’s responsibility.

The state also levies a real-estate transfer tax of $1.00 per $1,000 of the sale price (0.10%), customarily paid by the seller. Closing costs for buyers in Georgia generally run 2%–3% of the purchase price, including lender fees, title insurance, attorney fees, and escrow prepayments. Georgia is an “attorney-closing state,” so a licensed attorney must supervise the closing, adding $800–$1,500 in fees.

Homeowner’s insurance in Georgia averages $1,800–$2,600 per year, with higher premiums in coastal areas near Savannah due to hurricane and tropical-storm risk.

First-Time Homebuyer Programs in Georgia

The Georgia Dream Homeownership Program, administered by the Georgia Department of Community Affairs (DCA), is the state’s primary assistance offering:

  • Georgia Dream First Mortgage: A competitive-rate, 30-year fixed-rate FHA, VA, USDA, or conventional loan available through participating lenders.
  • Standard Down Payment Assistance: Up to $7,500 as a zero-interest, deferred second mortgage with no monthly payments, repaid upon sale, refinance, or payoff of the first mortgage.
  • PEN (Protectors, Educators, Nurses) Assistance: Up to $7,500 in additional assistance for eligible public protectors, educators, healthcare workers, and active military—potentially $15,000 total when combined with standard assistance.

Income and purchase-price limits vary by county. Borrowers must complete a homebuyer education course and meet minimum credit-score requirements.

Tips for Georgia Homebuyers

  • Budget for the intangible tax. This 0.30% fee on your loan amount is due at closing and is easy to overlook. Use the Percentage Calculator to estimate the amount based on your expected mortgage.
  • Apply for homestead exemption quickly. File with your county tax assessor’s office as soon as you close. Deadlines vary by county, but most require filing by April 1 of the tax year.
  • Engage a Georgia real-estate attorney. State law requires attorney supervision at closing. Choose an attorney experienced with residential transactions to ensure your title is clean and closing documents are correct.
  • Compare insurance quotes carefully. Coastal Georgia has higher premiums due to storm exposure. Even in metro Atlanta, rates vary by ZIP code based on claims history and proximity to fire stations.
  • Explore Georgia Dream if you qualify. The combination of a competitive mortgage rate and up to $7,500 in down payment assistance can significantly reduce your upfront costs. Check the Mortgage Calculator to see how different down-payment amounts affect your monthly payment.

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Frequently Asked Questions

What is the intangible tax in Georgia?
The intangible tax is a one-time fee of $1.50 per $500 of new mortgage debt (0.30%) paid at closing. On a $280,000 mortgage, the tax is $840. It is typically the buyer’s responsibility and applies to all new mortgages recorded in the state.
How much are property taxes in Georgia?
Georgia’s effective property tax rate averages about 0.85% of market value. On a $350,000 home, annual taxes typically range from $2,500 to $3,500 depending on the county and applicable exemptions. Homestead exemptions can reduce the bill further.
What is the Georgia Dream program?
Georgia Dream is the state’s primary homebuyer assistance program, offering competitive-rate 30-year mortgages and up to $7,500 in zero-interest, deferred down payment assistance. Public protectors, educators, nurses, and military members may receive up to $15,000 total in assistance.
Do I need an attorney to buy a house in Georgia?
Yes. Georgia requires a licensed attorney to supervise real-estate closings. The attorney handles the title search, prepares closing documents, and ensures proper recording. Expect to pay $800–$1,500 in attorney fees at closing.
How much are closing costs in Georgia?
Buyers in Georgia typically pay 2%–3% of the purchase price in closing costs. On a $350,000 home, expect roughly $7,000–$10,500 covering the intangible tax, attorney fees, title insurance, lender charges, and escrow prepayments.