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Georgia mortgage calculator

The median home in Georgia runs about $330,000. With 20% down that's a loan near $264,000 — the calculator is pre-filled with that figure. Georgia replaced its annual car tax with a one-time title ad valorem tax, and its property tax rate sits near the national average with a homestead exemption for primary residences. Metro Atlanta drives most of the state's price growth.

$1,714.05 / month

Total interest
$353,063
Total paid
$617,063
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$66k$132k$198k$264k0612182430Year

How it works

A full Georgia payment is more than principal and interest. At the state's 0.90% effective property tax rate, a $330,000 home owes about $2,970 a year in tax, and homeowners insurance averages roughly $2,000 a year here. Together those add about $414 to the monthly payment before any HOA dues or PMI.

Georgia's median household income is about $74,000, or $6,167 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,727 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Georgia sell in about 40 days on average.

Frequently asked questions

What is a typical mortgage payment in Georgia?
On the state's roughly $330,000 median home with 20% down, the loan is about $264,000. Principal and interest depend on your rate; on top of that, Georgia's 0.90% effective property tax rate and about $2,000 a year in homeowners insurance add roughly $414 per month to the payment.
How much are property taxes on a home in Georgia?
Georgia's effective property tax rate averages about 0.90% of market value — roughly $2,970 a year on the $330,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Georgia?
The average Georgia homeowners policy runs about $2,000 a year. Georgia replaced its annual car tax with a one-time title ad valorem tax, and its property tax rate sits near the national average with a homestead exemption for primary residences. Metro Atlanta drives most of the state's price growth.
Can I afford a home in Georgia on the median income?
Georgia's median household income is about $74,000 a year, or $6,167 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,727 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Georgia?
A for-sale home in Georgia spends about 40 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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