Compare mortgage rates and closing costs for leading lenders in Georgia. Review free, personalized mortgage rates for Georgia based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Georgia. Plus, shopping lenders is free and there is no obligation.
August 13, 2020
The current average rate for a 30 year fixed rate mortgage in Georgia is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we offer valuable insights on the housing market and real estate prices in Georgia. Understand how much you need to make to buy a house in Georgia, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Georgia is affordable for you. We provide this helpful information to help you decide if living in Georgia is right for you.
The median home value for Georgia is $213,986
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Georgia is $38,512
With this income, you could qualify for a $192,587 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Georgia is $892
The median household income for Georgia is $58,105
Based on this income, you can afford a home valued at approximately $322,854
The home price you can afford to buy based on household income in Georgia is 151% of the median home value which means housing prices are average. Georgia ranks 23 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Georgia is average