Georgia Mortgage Rates
Find the best Georgia mortgage rates and Atlanta home loan options. Compare current GA mortgage rates, explore local lenders, and calculate your payments with our Georgia-specific tools.
Georgia Mortgage Calculator
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Current Georgia Mortgage Rates by Loan Type
30-Year Fixed Conventional
stable15-Year Fixed Conventional
downFHA 30-Year Fixed
stableVA 30-Year Fixed
downUSDA Rural Development
stable5/1 ARM
upGeorgia Housing Market Overview
Statewide Market Stats
Atlanta
Fulton County
Augusta
Richmond County
Columbus
Muscogee County
Savannah
Chatham County
Athens
Clarke County
Macon
Bibb County
Top Mortgage Lenders in Georgia
Quicken Loans/Rocket Mortgage
Special Programs:
- VA Loans
- FHA Loans
- Conventional
Strengths:
- Fast digital process
- Competitive rates
- Strong customer service
Considerations:
- Limited local presence
- Higher closing costs for some
Wells Fargo
Special Programs:
- First-time buyer programs
- Down payment assistance
- Jumbo loans
Strengths:
- Extensive branch network
- Local presence
- Variety of programs
Considerations:
- Slower digital process
- Stricter requirements
SunTrust (now Truist)
Special Programs:
- Down payment assistance
- Community lending
- Construction loans
Strengths:
- Strong Georgia presence
- Local expertise
- Competitive programs
Considerations:
- Post-merger integration issues
- Varying service quality
Atlanta-based Community Banks
Special Programs:
- Local first-time buyer programs
- Community development loans
Strengths:
- Personal service
- Local market knowledge
- Flexible underwriting
Considerations:
- Limited loan products
- Smaller lending capacity
Navy Federal Credit Union
Special Programs:
- VA Loans
- Military-specific programs
Strengths:
- Excellent VA loan rates
- Military-focused service
- Low fees
Considerations:
- Limited to military members
- Fewer office locations
Georgia Homebuyer Programs & Incentives
Georgia Dream Homeownership Program
Georgia Department of Community Affairs
Program Benefits
- Down payment assistance up to 5%
- Below-market interest rates
- Reduced mortgage insurance
- First-time buyer education
Application Process:
Through participating Georgia lenders
Eligibility Requirements
- First-time homebuyer (or not owned home in past 3 years)
- Primary residence in Georgia
- Complete homebuyer education course
- Meet income and purchase price limits
USDA Rural Development - Georgia
USDA Rural Development Georgia
Program Benefits
- No down payment required
- No monthly mortgage insurance
- Below-market interest rates
- Flexible credit requirements
Application Process:
Through USDA approved lenders
Eligibility Requirements
- Property in eligible rural area
- Income below area limits
- Cannot exceed 2,000 sq ft
- Primary residence only
VA Loans - Georgia
Department of Veterans Affairs
Program Benefits
- No down payment required
- No monthly mortgage insurance
- Competitive interest rates
- No prepayment penalties
Application Process:
Through VA-approved lenders
Eligibility Requirements
- Military service member or veteran
- Valid Certificate of Eligibility
- Primary residence only
- Adequate residual income
Georgia Counties Mortgage & Economic Data
Fulton County (Atlanta)
Major Employers:
Gwinnett County
Major Employers:
Cobb County
Major Employers:
DeKalb County
Major Employers:
Chatham County (Savannah)
Major Employers:
Richmond County (Augusta)
Major Employers:
Georgia Real Estate Market Trends & 2024 Outlook
Current Market Trends
- Atlanta metropolitan area continues strong population growth
- Coastal Georgia (Savannah) experiencing tourism-driven demand
- Rural Georgia benefits from USDA loan programs
- Tech industry growth in Atlanta driving higher-end demand
- Retiree migration to coastal and mountain regions
2024 Market Projections
Market Challenges
- Hurricane and severe weather insurance costs
- Limited inventory in desirable school districts
- Infrastructure strain in rapidly growing suburbs
- Income growth not keeping pace with home prices
Market Opportunities
- First-time buyer programs widely available
- Strong job market in healthcare and technology
- Diverse geographic options from mountains to coast
- Growing military presence supporting VA loan market
Georgia Mortgage Rates FAQ
What are current mortgage rates in Georgia?
Current Georgia mortgage rates range from 6.25% for 5/1 ARM loans to 7.125% for 30-year fixed conventional loans. FHA rates average 6.875% while VA loans average 6.625%. Rates vary by lender, credit score, loan amount, and specific location within Georgia.
What is the median home price in Georgia?
The median home price in Georgia is $385,000 as of 2024. Atlanta metro area homes average $425,000, while smaller cities like Augusta average $185,000 and Macon around $125,000. Coastal areas like Savannah average $295,000. Prices vary significantly by region and local market conditions.
What Georgia first-time homebuyer programs are available?
Georgia offers the Georgia Dream Homeownership Program with down payment assistance up to 5% and below-market interest rates. USDA rural loans are available for eligible areas with 0% down payment. VA loans serve military members, and FHA loans offer 3.5% down payment options with competitive rates.
Which Georgia counties have the best mortgage rates?
Mortgage rates are generally consistent statewide, but loan competition is highest in metro counties like Fulton, Gwinnett, and Cobb, which may result in slightly better rate options. Rural counties may have fewer lender choices but often qualify for USDA loan programs with competitive rates and 0% down payment.
How do Georgia property taxes affect mortgage payments?
Georgia property tax rates vary by county from 1.08% to 1.35% of assessed value. Counties like Cobb (1.08%) and Fulton (1.09%) have lower rates, while DeKalb County has higher rates (1.35%). Property taxes are typically included in your monthly mortgage payment through an escrow account.
What credit score do I need for a Georgia mortgage?
Minimum credit scores for Georgia mortgages vary by loan type: Conventional loans typically require 620+, FHA loans accept scores as low as 580, VA loans often accept 580+, and USDA loans prefer 640+. Higher scores (740+) qualify for the best rates and terms from Georgia lenders.
Georgia Mortgage Resources
Ready to Buy a Home in Georgia?
Use our Georgia-specific mortgage calculator to estimate your payments with current rates, local taxes, and insurance costs. Explore Georgia homebuyer programs to maximize your savings.