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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 September 22, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Savannah, GA Mortgage Rates Compare?

September 22, 2020

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%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Savannah, Georgia?

Below we provide helpful information on the real estate market, home prices and housing affordability in Savannah. Understand how much you need to earn to afford a home in Savannah, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Savannah fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Savannah is right for you.

The median home value for Savannah, GA (Chatham County) is $226,825

Based on current mortgage rates and a 10% down payment, you need to make $40,823 per year to buy the median priced home in Savannah

With this income, you could qualify for a $204,142 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 Savannah is $945

The median household income for Savannah, GA (Chatham County) is $55,068

Based on this income, you can afford a home valued at approximately $305,978

The home price you can afford to buy based on household income in Savannah is 135% of the median home value which means housing prices are average. Savannah (Chatham County) ranks 151 out of 159 counties in Georgia and 2,730 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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Savannah, GA

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Savannah, GA

1 unit: $510,400

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