Georgia Mortgage Calculator
Calculate your Georgia mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Atlanta, Augusta, Columbus, Macon, Savannah, and all of Georgia.
Useful for home buyers in Atlanta, Augusta, Columbus, Macon, Savannah, and all of Georgia.
Why use a Georgia Mortgage Calculator?
Georgia offers affordable home prices and moderate property taxes. This calculator estimates your payment, PMI, property tax, and closing costs.
Georgia offers affordable home prices and moderate property taxes. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
Enter your details to see the estimated payment here.
Related Calculators
Georgia Property Tax: The average effective property tax rate is about 0.87%. Closing costs in GA are typically 2-5% of the purchase price.
Average Home Prices in Major Georgia Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Atlanta | $450,000 | $350,000 | $320,000 | $280,000 |
| Augusta | $250,000 | $200,000 | $180,000 | $160,000 |
| Columbus | $220,000 | $180,000 | $160,000 | $140,000 |
| Macon | $200,000 | $170,000 | $150,000 | $130,000 |
| Savannah | $350,000 | $280,000 | $250,000 | $220,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in Georgia
- Property Tax: Georgia's average effective property tax rate is about 0.87%. Property taxes are paid annually and may be included in your monthly payment.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: Georgia's closing costs include title insurance, attorney fees, and other expenses.
Example: On a $350,000 home with 10% down in Atlanta, you pay PMI and property tax. Closing costs are typically 2-5% of the purchase price.
Frequently Asked Questions
Yes, Georgia has a property tax. The average effective rate is about 0.87% of the assessed value. Property taxes are paid annually.
PMI (Private Mortgage Insurance) is required when your down payment is less than 20%. It protects the lender and is added to your monthly payment until you reach 20% equity.
Closing costs in Georgia are typically 2-5% of the purchase price and include title insurance, attorney fees, and other expenses.