Georgia Mortgage Calculator
Estimate your monthly mortgage payment in Georgia with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in Georgia is $345,000 with an effective property tax rate of 0.92%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
Optional
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $20,934.12 | $3,084.96 | $17,849.16 | $272,915.04 |
| 1 | $1,744.51 | $249.51 | $1,495.00 | $275,750.49 |
| 2 | $1,744.51 | $250.86 | $1,493.65 | $275,499.63 |
| 3 | $1,744.51 | $252.22 | $1,492.29 | $275,247.41 |
| 4 | $1,744.51 | $253.59 | $1,490.92 | $274,993.82 |
| 5 | $1,744.51 | $254.96 | $1,489.55 | $274,738.86 |
| 6 | $1,744.51 | $256.34 | $1,488.17 | $274,482.52 |
| 7 | $1,744.51 | $257.73 | $1,486.78 | $274,224.79 |
| 8 | $1,744.51 | $259.13 | $1,485.38 | $273,965.66 |
| 9 | $1,744.51 | $260.53 | $1,483.98 | $273,705.13 |
| 10 | $1,744.51 | $261.94 | $1,482.57 | $273,443.19 |
| 11 | $1,744.51 | $263.36 | $1,481.15 | $273,179.83 |
| 12 | $1,744.51 | $264.79 | $1,479.72 | $272,915.04 |
Year 2 | $20,934.12 | $3,291.56 | $17,642.56 | $269,623.48 |
Year 3 | $20,934.12 | $3,512.01 | $17,422.11 | $266,111.47 |
Year 4 | $20,934.12 | $3,747.20 | $17,186.92 | $262,364.27 |
Year 5 | $20,934.12 | $3,998.14 | $16,935.98 | $258,366.13 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
Georgia Housing Snapshot
| Median Home Value | $345,000 |
| Effective Property Tax Rate | 0.92% |
| Estimated Annual Property Tax | $3,174 |
| State Income Tax | Flat 5.39% (reduced annually toward 4.99% by 2029) |
| Homestead Exemption | $2,000 statewide plus local exemptions varying by county |
| Avg Homeowners Insurance | $1,855/yr |
| Transfer & Recording Taxes | Real estate transfer tax $1.00 per $1,000 (0.10%); intangibles tax on new mortgages $1.50 per $500 |
What Makes Buying in Georgia Different
Georgia has been one of the fastest-growing US states in the past decade, driven by Atlanta's economic boom and migration from higher-tax states. The effective property tax rate is moderate at 0.92%, and home values remain reasonable at a $345,000 statewide median. State income tax was simplified to a flat 5.39% in 2024, scheduled to decline to 4.99% by 2029 under current legislation. The Atlanta metro dominates the housing market and prices, with Buckhead, Sandy Springs, and the northern suburbs commanding premium values. Outside metro Atlanta, Georgia remains highly affordable: Macon, Columbus, and Augusta all have medians under $200,000. The state has an intangibles tax on new mortgages of $1.50 per $500 of loan amount (0.30%), which is unusual and adds to closing costs. Insurance averages $1,855, with hurricane exposure on the coast (Savannah, Brunswick) and tornado risk inland keeping premiums above the national average.
Top Cities in Georgia
| City | Median Home Value |
|---|---|
| Atlanta | $425,000 |
| Savannah | $305,000 |
| Augusta | $195,000 |
| Columbus | $195,000 |
| Athens | $335,000 |
Georgia charges an intangibles recording tax of $1.50 per $500 of new mortgage amount (effectively 0.30%). On a $300,000 mortgage, this adds $900 to closing costs. It is paid by the borrower at closing and is unique to Georgia among Southeastern states. The tax does not apply to refinances of existing loans up to the original balance.
Georgia provides a $2,000 statewide homestead exemption on the assessed value of an owner-occupied primary residence. Most counties offer additional local exemptions. Fulton County (Atlanta) provides up to $50,000 in homestead exemption for school taxes, and DeKalb County offers up to $14,000. Senior citizens and disabled homeowners qualify for further reductions in most counties.
Georgia simplified to a flat 5.39% state income tax in 2024, replacing the previous six-bracket system. Under current legislation, the rate is scheduled to decline by 0.1% per year until reaching 4.99% in 2029. This flat-tax approach simplifies take-home pay calculations for mortgage qualification.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.