Georgia mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, your principal and interest, taxes, insurance, and PMI in Georgia. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

Georgia housing market

In Georgia, the Peach State, housing is roughly as affordable as the national Georgians spend ~19% of their incomes on homes, which is slightly less than the national average. The continued rise in home prices in Georgia has closely followed overall U.S. trends - although Georgia's median home values still trails U.S. averages by ~20%. Georgia's market is driven primarily by the Atlanta metro area, where 6M of 10M residents live. Atlanta home prices are above state averages, while smaller cities like Savannah, Athens, and Augusta are less expensive. While Georgia maintains the name "the Peach State," it trails both South Carolina and California in peach production.

Your monthly payment
30 year fixed loan term
Monthly payment
Principal & interest


Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,141$1,561
Mortgage Rate4.125%3.41%*3.85%*
Total interest paid
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,141$1,561
Mortgage Rate4.125%3.41%*3.85%*
Total interest paid

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Principal Paid
Interest Paid
Year 0
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We’ll share an interesting insight here for key milestones in your payoff schedule.

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Principal & interest


Georgia mortgage and refinance rates today (APR)

Loan typeAverage
1 day
1 year
30-year fixed3.618%
15-year fixed3.14%
5/1 ARM3.537%

Today’s rate

30-year fixed

Current rates in Georgia are 3.618% for a 30-year fixed, 3.14% for a 15-year fixed, and 3.537% for a 5/1 adjustable-rate mortgage (ARM).

Find top real estate agents in Georgia

Start building your winning home buying team! Our partner, HomeLight, analyzes millions of home sales to identify the best performing agent.

Georgia's first-time home buyer programs

The Georgia Department of Community Affairs has a program called Georgia Dream Home Ownership Program which helps first-time home buyers and home buyers who haven't owned a home for three years get mortgage financing assistance.

Georgia Standard Down Payment Assistance

State program

Best for

Down payment assistance

What you need to know

All borrowers eligible for a Georgia Dream mortgage may qualify for $5,000 in down payment assistance. It’s possible to receive $7,500 if you are eligible for either the PEN or Choice programs. If you receive funds from any of the down payment assistance programs below, you’ll need to repay the...

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Georgia's best mortgage lenders

NerdWallet has done the work for you to pick the best financing partner for you in Georgia.

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Average property tax in Georgia counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Georgia. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Appling County0.74%$72,100
Atkinson County0.97%$62,500
Bacon County0.95%$73,200
Baker County0.73%$79,500
Baldwin County0.86%$108,800
Banks County0.8%$128,900
Barrow County0.83%$156,400
Bartow County0.76%$165,400
Ben Hill County1.07%$81,200
Berrien County0.96%$86,700
Bibb County1.17%$117,400
Bleckley County0.96%$98,800
Brantley County1.11%$68,200
Brooks County0.91%$92,400
Bryan County0.83%$201,700
Bulloch County0.81%$135,400
Burke County0.76%$86,500
Butts County0.98%$121,500
Calhoun County1.29%$49,000
Camden County0.97%$154,500
Candler County0.8%$88,600
Carroll County0.76%$132,800
Catoosa County0.71%$137,900
Charlton County1.01%$82,200
Chatham County0.96%$192,500
Chattahoochee County0.73%$81,700
Chattooga County0.74%$68,500
Cherokee County0.78%$251,100
Clarke County1.0%$167,300
Clay County1.04%$59,900
Clayton County1.05%$103,500
Clinch County1.07%$63,100
Cobb County0.76%$254,300
Coffee County0.87%$87,600
Colquitt County0.87%$84,500
Columbia County0.9%$201,000
Cook County0.93%$87,800
Coweta County0.81%$213,800
Crawford County1.04%$93,300
Crisp County1.0%$83,900
Dade County0.57%$122,500
Dawson County0.67%$202,300
Decatur County0.86%$109,800
DeKalb County1.09%$199,800
Dodge County0.87%$73,400
Dooly County1.03%$83,200
Dougherty County1.28%$101,400
Douglas County1.01%$161,300
Early County1.04%$82,700
Echols County1.01%$57,000
Effingham County1.05%$155,500
Elbert County0.73%$81,800
Emanuel County0.87%$78,500
Evans County0.91%$83,600
Fannin County0.46%$171,500
Fayette County0.97%$280,600
Floyd County0.98%$135,000
Forsyth County0.77%$349,500
Franklin County0.7%$101,600
Fulton County1.04%$306,200
Gilmer County0.63%$162,400
Glascock County1.12%$66,600
Glynn County0.64%$170,700
Gordon County0.77%$119,500
Grady County0.82%$110,500
Greene County0.61%$175,800
Gwinnett County1.13%$220,000
Habersham County0.75%$137,200
Hall County0.83%$195,600
Hancock County1.08%$66,100
Haralson County1.03%$117,000
Harris County0.9%$194,800
Hart County0.64%$131,200
Heard County0.65%$100,500
Henry County1.06%$169,600
Houston County0.98%$129,800
Irwin County1.13%$81,200
Jackson County0.97%$186,500
Jasper County1.0%$119,700
Jeff Davis County0.84%$77,900
Jefferson County1.21%$69,200
Jenkins County0.88%$59,100
Johnson County1.11%$64,200
Jones County1.08%$124,800
Lamar County0.89%$132,400
Lanier County0.94%$102,000
Laurens County0.84%$85,000
Lee County1.04%$156,800
Liberty County1.21%$120,500
Lincoln County0.91%$115,600
Long County0.93%$117,500
Lowndes County0.9%$133,500
Lumpkin County0.69%$176,300
Macon County1.08%$61,300
Madison County0.86%$121,600
Marion County0.84%$86,300
McDuffie County0.82%$102,500
McIntosh County0.71%$112,700
Meriwether County0.94%$91,300
Miller County1.36%$88,500
Mitchell County1.19%$82,500
Monroe County0.75%$159,900
Montgomery County0.75%$76,500
Morgan County0.78%$208,200
Murray County0.61%$91,700
Muscogee County0.93%$139,000
Newton County0.92%$148,500
Oconee County0.82%$252,000
Oglethorpe County0.7%$111,800
Paulding County0.93%$170,400
Peach County1.16%$126,000
Pickens County0.81%$185,700
Pierce County0.87%$99,000
Pike County0.92%$162,000
Polk County0.85%$105,600
Pulaski County0.88%$111,100
Putnam County0.72%$168,700
Quitman County0.7%$67,400
Rabun County0.62%$157,800
Randolph County0.55%$67,300
Richmond County1.04%$101,800
Rockdale County0.75%$155,800
Schley County1.07%$94,800
Screven County0.95%$78,900
Seminole County0.91%$77,200
Spalding County1.13%$119,100
Stephens County0.92%$98,500
Stewart County0.99%$51,800
Sumter County0.97%$82,600
Talbot County0.86%$81,200
Taliaferro County1.36%$59,100
Tattnall County1.03%$88,100
Taylor County0.87%$65,800
Telfair County0.95%$55,600
Terrell County0.64%$88,600
Thomas County0.86%$131,400
Tift County0.96%$112,200
Toombs County0.92%$97,500
Towns County0.43%$197,900
Treutlen County0.89%$71,000
Troup County0.93%$140,200
Turner County1.19%$72,700
Twiggs County1.0%$57,000
Union County0.61%$191,800
Upson County0.9%$84,900
Walker County0.79%$120,500
Walton County0.91%$187,300
Ware County0.8%$78,500
Warren County1.18%$62,300
Washington County1.01%$82,400
Wayne County0.84%$107,300
Webster County0.77%$57,200
Wheeler County1.02%$46,800
White County0.85%$157,900
Whitfield County0.68%$132,400
Wilcox County0.43%$69,800
Wilkes County1.04%$83,400
Wilkinson County0.95%$69,100
Worth County0.96%$85,600

Source: American Communities Survey 2016, U.S. Census

What’s included in a mortgage loan calculator?

A mortgage calculator used to look kind of like your grandfather’s cell phone. A bunch of buttons, a little screen and a lot of punching in numbers to get a result. The NerdWallet home mortgage calculator is different. It can calculate your monthly mortgage payment in no time.

Any good home mortgage calculator can do that. Even that big calculator stuffed in your grandpa’s shirt pocket. But an excellent mortgage payment calculator can do more. That’s why the NerdWallet monthly mortgage payment calculator also takes into account the additional costs — like taxes and insurance — that are included in your monthly payment. It’s called a PITI mortgage calculator, for principal, interest, taxes and insurance. We can also include HOA dues and PMI — private mortgage insurance — in your monthly payment calculation.

A lot of folks forget to include all those costs and are frankly a bit surprised when their monthly mortgage payment turns out to be a lot more than they counted on. The formula working behind the curtain of the NerdWallet mortgage calculator takes that bit of uncertainty out of the picture.

How to calculate your mortgage payment

For the paper and pencil mathletes out there, the mortgage payment calculation looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

How to use a mortgage payment calculator

Determining what your monthly house payment will be is an important part of the “how much house can I afford?” decision. That monthly payment is likely to be the biggest part of your living overhead.

Using this tool to calculate your mortgage payment can help you run various scenarios in your decision process for buying a home. You may consider:

  • How long of a home loan term is right for you? A 30-year fixed-rate mortgage will lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage can reduce the total interest you’ll pay, but your monthly payment will be higher. Regardless of which term you choose, fixed-rate mortgages have interest rates that are locked in for the life of the loan.
  • Is an ARM a good option? Adjustable-rate mortgages start with a “teaser” interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years or so. You’ll want to be aware of how much your monthly mortgage payment can change, especially if interest rates are trending higher.
  • If you’re buying too much home. The NerdWallet mortgage payment calculator can help you take a reality check on just how much home you can afford, especially when considering your all-in costs, including taxes, insurance and PMI.
  • Are you putting enough money down? With minimum down payments commonly as low as 3% these days, it’s easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment for you may be.

What are the monthly costs built into a monthly mortgage payment?

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But that’s rarely the case these days. There are a lot of costs that can be built into a monthly mortgage payment. Here are the five key components in play when you calculate mortgage payments:

  • Principal: Typically, this would be the home’s purchase price, less any down payment It’s the amount you borrow. If you’re buying a $500,000 home and put down $100,000, the principal would be $400,000.
  • Interest: What the lender charges you to loan you the money. Interest rates are expressed as an annual percentage.
  • Property taxes: The annual tax assessed by a government authority on your home and land.
  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan.
  • Homeowners association (HOA) fee: This is paid by homeowners to an organization that assists with upkeep, property improvements and shared amenities.

Can I lower my monthly payment?

This is where a mortgage calculator can really bring some clarity to the home buying process: by helping you to work different payment scenarios.

Here are ways you can lower your monthly payment:

  • Extend the number of years for the loan. It’s called the loan term, something we mentioned above. As we said, your payment will be lower but you’ll be paying a lot more interest over the added years. Review your amortization schedule to see the impact of extending your loan.
  • Buy less house. Obviously, taking out a smaller loan means a smaller monthly mortgage payment.
  • Avoid paying PMI. By putting down 20% or more, you won’t have to pay private mortgage insurance. That can be another option to consider as you run “what ifs” in the mortgage calculator tool. However, if you’re looking at FHA loans, mortgage insurance can last for the entire length of the loan.
  • Get a better interest rate. Putting more money down not only can eliminate PMI, but lower your interest rate, too. That means a lower monthly mortgage payment. Shopping at least three lenders can also increase your odds of getting a better mortgage interest rate.

Can my monthly payment go up?

Now, you’ve calculated your monthly mortgage payment and you’ve got a number you’re happy with. What could make your payment go up from there:

  1. If you have an adjustable-rate mortgage, as we mentioned above.
  2. If costs included in your mortgage payment, such as property taxes or homeowners insurance premiums, go up. And they will, eventually.
  3. If your mortgage loan servicer charges a late payment fee.