Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Georgia

Georgia Mortgage Calculator

Set to Georgia’s own property tax rate of 0.74% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($68,600)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$2,060
Monthly payment
$1,749
Principal & interest
$212
Taxes
$100
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $274,400 Interest paid $355,188
20262056
Total of 360 payments$741,728
Principal$274,400
Interest$355,188
Taxes$76,140
Insurance$36,000
HOA fees$0
P&I 84.9% Taxes 10.3% Insurance 4.9%
15- vs 30-year term at 6.58%
15-year
$2,402/mo P&I
$158,033 total interest
30-year · current
$1,749/mo P&I
$355,188 total interest
The 15-year term saves $197,156 in interest. Which term is right for you?

What these numbers come from

Median home value
$343,300
Median tax bill
$2,554
Effective tax rate
0.74%
Rank of 51
28th highest

Georgia taxes property at about 0.74% of value against 0.89% nationally. On a $343,000 home that is $43 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Georgia home prices

20% down, 30-year fixed at 6.58%, with Georgia property tax of 0.74% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$206,000 $164,800 $1,050 $127 $1,237
$275,000 $220,000 $1,402 $170 $1,652
$343,000 median $274,400 $1,749 $212 $2,060
$429,000 $343,200 $2,187 $265 $2,577
$515,000 $412,000 $2,626 $318 $3,094

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Georgia taxes alone add $212 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $244 $1,505 $312 $274,156
Sep $246 $1,503 $312 $273,910
Oct $247 $1,502 $312 $273,663
Nov $248 $1,501 $312 $273,415
Dec $250 $1,499 $312 $273,165
2026 $1,235 $7,510 $1,558 $273,165
Jan $251 $1,498 $312 $272,914
Feb $252 $1,496 $312 $272,662
Mar $254 $1,495 $312 $272,408
Apr $255 $1,494 $312 $272,153
May $257 $1,492 $312 $271,897
Jun $258 $1,491 $312 $271,639

Refinancing in Georgia

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Georgia home loans in detail

Georgia Mortgage Overview

Georgia is the peach state, yet many people know it for its pecans and onions too. Georgia is one of the safest states to live in and is laid back and a peaceful place to live. The average home is just $375,000 in Georgia and 63 percent of homes are owner-occupied.

With mild winters and gorgeous summers, it's easy to see why many people would want to live in Georgia. If you're thinking of buying a home there, here are the most popular loan options:

Georgia conventional loans

Good credit borrowers have many loan options including the conventional loan. With a 660+ credit score and average debt-to-income ratio, borrowers can secure low interest rates and favorable terms. Conventional loans are available in terms of 15 years - 30 years in fixed and variable rates.

Georgia FHA loans

Borrowers without 'perfect' credit often turn to the FHA loan. It has more flexible guidelines yet just as favorable interest rates and terms. FHA loans require just 3.5 percent down and allows credit scores as low as 580. Georgia borrowers enjoy the low down payment options, allowing them to buy a home sooner than they thought possible.

Georgia VA loans

Veterans who served or are serving our country deserve a great loan program, and the VA provides it. This 100 percent loan program doesn't require a down payment and sometimes allows credit scores as low as 620. With flexible debt ratio guidelines, it's easy to see why borrowers love the VA loan.

Georgia USDA loans

If slow, country living is up your alley, the USDA loan may be a good option. You must not make over 115 percent of the area's median income to be eligible. If you're eligible, you may borrow up to 100 percent of the home's purchase price with just a 640+ credit score and decent debt ratios.

First-Time Homebuyer Programs in Georgia

Georgia Dream Loans

Low to moderate-income families may qualify for the Georgia Dream Loan program which offers lower interest rates, more favorable terms, and down payment assistance.

There is an income limit for Georgia Dream loans that varies by county. Borrowers must also have $20,000 or less in liquid assets to qualify. All borrowers must contribute at least $1,000 of their own funds for the purchase. If you get down payment assistance, it's a second mortgage, but with no interest or payments due. When you sell the home or refinance the loan, you must pay it off with your home's equity.

Georgia mortgage FAQ

How much is property tax on a home in Georgia?
Georgia homeowners pay an effective property tax rate of about 0.74 percent of home value — the 28th highest of the 50 states and DC. On the state's median home value of $343,300 that works out to roughly $2,538 a year, or $212 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Georgia home?
At $343,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,749 a month. Adding Georgia property tax of roughly $212 a month and an estimated $100 of homeowner insurance brings the full payment to around $2,060.
Which home loan programs can buyers use in Georgia?
Georgia homebuyers can pick from conventional loans for 660 plus credit scores with 15 to 30 year fixed or variable terms, FHA loans requiring only 3.5 percent down and a 580 score, VA loans with 100 percent financing and scores sometimes as low as 620, and USDA loans covering up to 100 percent of the price for buyers earning under 115 percent of area median income.
What help does Georgia give first-time homebuyers?
The Georgia Dream Loan program serves low to moderate income families with lower interest rates, favorable terms, and down payment assistance. Income limits vary by county, borrowers must stay under a liquid asset cap, and everyone must contribute some of their own funds. The down payment help comes as a second mortgage with no interest or payments, repaid when you sell or refinance.
Can you buy a house in Georgia with no money down?
Yes, two programs allow it. VA loans give eligible veterans and service members 100 percent financing with credit scores sometimes as low as 620 and flexible debt ratio guidelines. USDA loans also lend up to 100 percent of the purchase price for buyers who earn no more than 115 percent of the area median income and have a 640 plus credit score.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.