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Savannah

Current Mortgage Rates in Savannah, Georgia

Compare mortgage rates and fees for leading lenders in Savannah, GA. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Savannah.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Savannah. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Savannah, GA as of October 23, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Savannah, GA Mortgage Rates Compare?

October 23, 2019

The current average rate for a 30 year fixed rate mortgage in Savannah 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%

Mortgage Program
Today's
Savannah, GA Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Savannah, Georgia?

The median home value for Savannah, GA (Chatham County) is $209,055

The median household income for Savannah, GA (Chatham County) is $53,811

Based on current mortgage rates and a 10% down payment, you need to make $38,786 per year to buy the median priced home in Savannah

The home price you can afford to buy based on household income in Savannah is 139% of the median home value which means housing prices are average

Savannah (Chatham County) ranks 151 out of 159 counties in Georgia and 2,703 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Savannah, GA is average

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Loan Limits for Savannah, Georgia

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Savannah (Chatham County) below.

Conforming loan limits for Savannah, GA

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Savannah, GA

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Savannah, GA

1 unit: $484,350

Additional Mortgage Resources for Savannah, GA Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index