Mortgage Guide for Georgia
Georgia's mortgage landscape is shaped by a dual transfer tax structure that adds cost at closing, an attorney-close requirement that affects the transaction process, and the dominance of the Atlanta metro area in housing demand. Property tax rates fall below the national median while the state's Georgia Dream homebuyer programs offer multiple down payment assistance paths for qualifying borrowers.
Mortgage Numbers for Georgia
| Median Home Price | $320,000 |
|---|---|
| Baseline Conforming Limit | $806,500 |
| Conforming Limit Ceiling | $806,500 (standard) |
| FHA Loan Limit (Baseline) | $524,225 |
| Avg. Property Tax Rate | 0.92% |
| Avg. Homeowners Insurance | ~0.33% of home value (avg. annual premium) |
| Transfer Tax | 0.10% (Georgia imposes a real estate transfer tax of $1.00 per $1,000 of sale price (0.10%) paid by the seller at closing. Separately, an intangible tax of $1.50 per $500 (0.30%) is assessed on the mortgage amount and paid by the buyer. The intangible tax applies to new mortgage recordings and is typically the larger of the two closing tax costs.) |
| High-Cost Counties | No |
Data sources: FHFA (conforming limits), HUD (FHA limits), U.S. Census (home values), State Department of Revenue (property tax). Updated annually unless noted. Data as of 2026-02-21.
What This Means for Your Mortgage
Mortgage rates are set by lenders and vary daily. This guide focuses on structural factors that affect your loan in Georgia.
Property Taxes Below the National Average
Georgia’s effective property tax rate of approximately 0.92% sits below the national median of approximately 1.1% . On a $320,000 home, that translates to roughly $2,944 per year, or $245 per month added to your mortgage payment through escrow. While lower than high-tax states, property taxes still factor into your debt-to-income ratio and reduce the loan amount you can qualify for at any given income level. Georgia counties set their own millage rates, and tax bills can vary significantly within the state. Fulton County (Atlanta) and other metro counties tend to have higher effective rates than rural areas.
Intangible Tax Adds to Closing Costs
Georgia is one of a small number of states that imposes an intangible tax on new mortgage recordings. The rate is $1.50 per $500 of mortgage amount, which works out to 0.30% of your loan balance. On a $288,000 mortgage (10% down on a $320,000 home), the intangible tax adds $864 to closing costs. This is paid by the buyer and is separate from the real estate transfer tax of $1.00 per $1,000 (0.10%) that the seller customarily pays. When combined, Georgia’s total transfer-related taxes on a typical transaction are moderate, but the buyer-paid intangible tax increases the cash needed at closing compared to states without this levy. The intangible tax does not apply to assumptions of existing mortgages or to refinances that do not increase the loan balance beyond the original amount.
Attorney-Close State: Impact on Process and Costs
Georgia law requires that a licensed attorney supervise the closing of real estate transactions. Unlike title-company states where a closing agent handles settlement, Georgia closings involve an attorney who conducts the title examination, prepares closing documents, and oversees the disbursement of funds. This requirement adds a layer of legal oversight but also affects closing costs: attorney fees for a residential closing in Georgia typically range from $500 to $1,500 , depending on the complexity of the transaction and the attorney’s fee structure. Buyers should factor attorney fees into their cash-to-close estimates alongside standard title insurance and recording fees.
Homeowners Insurance and Coastal Exposure
Georgia’s average homeowners insurance rate of approximately 0.33% of home value results in annual premiums of roughly $1,056 on a $320,000 home, or about $88 per month. This is below the national average, but rates vary by location. Coastal counties along the Georgia coast, including Chatham (Savannah), Glynn (Brunswick), and Camden, face higher wind and storm exposure, which can push premiums significantly above the statewide average. Buyers in these areas should also evaluate whether flood insurance is required; FEMA flood zone designations apply to portions of the Georgia coastline and along major river systems throughout the state.
Conforming Limits Are Uniform Statewide
All 159 Georgia counties use the baseline conforming loan limit set by FHFA. There are no high-cost county designations in Georgia, which means borrowers seeking loans above the baseline limit must use jumbo financing with its stricter credit requirements, larger down payment minimums, and typically higher rates. Given the statewide median home price of approximately $320,000, most Georgia purchases fall well within the conforming limit, making conventional conforming and FHA loans the most common financing paths.
Georgia Dream Programs Offer Multiple DPA Options
The Georgia Department of Community Affairs (DCA) administers the Georgia Dream Homeownership Program, which provides below-market first mortgage rates paired with down payment assistance. The standard Georgia Dream second lien offers up to $10,000 in DPA at 0% interest with no monthly payments; the loan is repaid upon sale, refinance, or transfer. The PEN (Protectors, Educators, and Nurses) and CHOICE programs offer up to $7,500 in DPA for qualifying public servants and households with a disabled family member. Most Georgia Dream programs require a minimum 640 credit score, household income below county-specific limits, and completion of a HUD-approved homebuyer education course. Unlike some state programs that restrict eligibility to first-time buyers, Georgia Dream allows repeat buyers who meet income and purchase price limits.
Atlanta Metro Dominance in the Housing Market
The Atlanta metropolitan statistical area accounts for more than half of Georgia’s population and an outsized share of home purchase activity. Home prices in the metro core (Fulton, DeKalb, Cobb, Gwinnett counties) tend to run above the statewide median, while exurban counties in the metro’s expanding footprint offer more affordable entry points. This price gradient means borrowers shopping in different parts of metro Atlanta can face meaningfully different down payment and qualification thresholds at the same income level. The metro’s geographic spread also creates variation in property tax rates, school district quality premiums, and commuting cost trade-offs that indirectly affect housing affordability beyond the mortgage payment itself.
What This Means for Your Monthly Payment
On a $320,000 Georgia home with 10% down ($288,000 loan) at a 6.5% interest rate, estimated monthly costs break down as follows: principal and interest of approximately $1,820, property tax escrow of approximately $245, homeowners insurance of approximately $88, and PMI of approximately $120 (assuming 0.5% PMI rate). The total estimated monthly payment is approximately $2,273. Georgia’s below-average property tax and insurance rates result in a lower total payment than many states at the same purchase price. However, buyers should budget separately for the intangible tax ($864) and attorney closing fees as part of their cash-to-close requirements. PMI rates vary by credit score, loan-to-value ratio, and insurer, so your actual cost may differ from this estimate.