Mortgage Affordability Calculator for Georgia

Buying a Home in Georgia: What You Can Afford

The median home value in Georgia is $285,000. Georgia, particularly the Atlanta metro, has experienced sustained price growth since 2019. Suburban counties like Cherokee, Forsyth, and Henry have seen the fastest appreciation.

Conforming Loan Limits in Georgia

The conforming loan limit in Georgia is $726,200. No Georgia counties currently qualify for high-cost conforming limits, though metro Atlanta values are approaching the threshold. Loans above this threshold are considered jumbo loans and typically carry stricter qualification requirements and slightly higher rates.

Property Taxes to Budget For

Beyond your mortgage payment, budget for Georgia's property taxes: the effective rate is 0.90%, meaning a home at the median value generates about $2,027/year in taxes. This is a real cost that lenders include in your debt-to-income (DTI) calculation.

Closing Costs in Georgia

Buyers typically pay around $3,100 in closing costs in Georgia. Georgia charges an intangible recording tax of $1.50/$500 of mortgage amount and a transfer tax of $1/$1,000 of sale price. These add modest but meaningful costs at closing. Factor this into your upfront cash requirement alongside your down payment.

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