Mortgage Calculator Georgia 2026: Payment, PMI & Transfer Tax
This mortgage calculator for Georgia estimates your full monthly payment — principal & interest, property tax, homeowners insurance and PMI — plus Georgia’s transfer tax and intangible recording tax. Enter your own rate; everything is calculated privately in your browser.
A mortgage calculator for Georgia estimates the full monthly cost of a Georgia home loan: principal and interest from standard amortization, plus property tax, homeowners insurance and private mortgage insurance (PMI) when you put down less than 20%. It also shows Georgia’s real estate transfer tax of $1 per $1,000 of value, which the seller normally pays, and the intangible recording tax on a new mortgage, which the buyer normally pays.
How the Mortgage Calculator Georgia Formula Works (Worked Example)
Principal and interest use the standard amortization formula M = P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of payments. Property tax is the home price × your local rate ÷ 12, insurance is your annual premium ÷ 12, and PMI is the loan amount × your PMI rate ÷ 12. Example: a $300,000 Georgia home, 10% down, 30-year fixed at a user-entered 6.5% (click Load Example above to reproduce it).
| Item | Inputs | Monthly |
|---|---|---|
| Principal & interest | $270,000 loan, 6.5%, 360 payments | $1,706.58 |
| Property tax | 0.79% of $300,000 ($2,370/yr) | $197.50 |
| Homeowners insurance | $1,500/yr (example — use your quote) | $125.00 |
| PMI | 0.6% of $270,000 ($1,620/yr) | $135.00 |
| Total monthly payment | $2,164.08 | |
| Transfer tax (one-time, usually seller) | $300,000 ÷ 1,000 × $1 | $300.00 |
| Intangible recording tax (one-time, usually buyer) | $270,000 ÷ 500 × $1.50 | $810.00 |
Over 30 years this loan pays about $344,370 in interest. Your rate is an input, not an assumption — check the current weekly national average in Freddie Mac’s Primary Mortgage Market Survey and compare lender Loan Estimates.
Georgia Property Tax Rate and Your Monthly Payment
Georgia’s effective property tax rate on owner-occupied homes is 0.79% of home value, according to the Tax Foundation (2026 edition, based on Census American Community Survey data). Georgia assesses property at 40% of fair market value (O.C.G.A. § 48-5-7), and county, city and school millage rates apply to that assessed value after any homestead exemption. So if you know your local millage, the effective rate is roughly millage × 40% (for example, 25 mills ≈ 1.00%), less any homestead exemption you file for with the county.
| Property tax rate | Annual tax on $300,000 | Added to monthly payment |
|---|---|---|
| 0.55% | $1,650 | $137.50 |
| 0.79% (state effective rate) | $2,370 | $197.50 |
| 1.11% | $3,330 | $277.50 |
Georgia Closing Costs: Transfer Tax and Intangible Recording Tax
Georgia has one statewide real estate transfer tax (O.C.G.A. § 48-6-1), not separate county rates: $1 for the first $1,000 of value and $0.10 for each additional $100 or part of $100. The seller is liable, although a contract can shift it to the buyer. A long-term mortgage also triggers the intangible recording tax (O.C.G.A. § 48-6-61).
| Georgia item | Amount | Usually paid by |
|---|---|---|
| Real estate transfer tax (O.C.G.A. § 48-6-1) | $1 per $1,000 of value — $300 on $300,000 | Seller (unless the contract says otherwise) |
| Intangible recording tax (O.C.G.A. § 48-6-61) | $1.50 per $500 of the loan, maximum $25,000 — $810 on $270,000 | Buyer (borrower) |
| Escrow deposits for tax and insurance | Set by your lender — see your Loan Estimate | Buyer |
| Recording, lender, appraisal and title charges | Vary by county, lender and title company — compare Loan Estimates | Negotiable |
Some costs are negotiable, and sellers sometimes cover part of a buyer’s closing costs as a concession.
How Georgia Mortgage Rates Affect Your Payment
Rates in Georgia follow national mortgage markets and vary by lender, credit score, down payment and loan type. On a $310,000 home with 20% down, an example rate of 6.9% produces a monthly principal and interest payment of approximately $1,633. A 0.25-point rate increase adds roughly $42 to that payment, so shopping multiple lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk, which is why many Georgia homebuyers choose 30-year fixed loans for payment predictability. FHA loans (3.5% down) and VA loans (0% down for eligible veterans) are also available in Georgia.
First-Time Buyer Programs in Georgia
The Georgia Dream Homeownership Program from the Georgia Department of Community Affairs pairs a first mortgage with down payment assistance. Check its current income limits, purchase-price limits and assistance amount before you apply.
FHA loans are available nationwide and require only 3.5% down with a 580+ credit score — an option for first-time buyers in Georgia who have limited savings. USDA loans offer 0% down for eligible rural properties in Georgia. VA loans are available to qualified veterans and active-duty service members with no down payment required and no PMI.
If your down payment is below 20%, Private Mortgage Insurance (PMI) on the $270,000 example loan adds $135.00/month at a 0.6% annual rate. The Urban Institute puts typical PMI at roughly 0.46%–1.5% of the loan per year depending on credit score. PMI can be removed once your loan-to-value ratio reaches 80%, so extra payments accelerate the timeline to dropping PMI.
Last updated: October 2026. Estimates only — confirm figures with your lender and local tax office.
Frequently Asked Questions
What is the average mortgage rate in Georgia in 2026?
Georgia mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year fixed average, then compare quotes from several lenders - your rate depends on credit score, down payment and loan type.
What is the average monthly mortgage payment in Georgia?
For a $310,000 home with 20% down at an example rate of 6.9%, the estimated PITI (principal, interest, taxes and insurance) is about $1,962 a month, assuming a 0.79% property tax rate and $1,500 a year for insurance. Your payment depends on your price, rate, local tax rate and insurance quote.
Do I need PMI in Georgia?
Yes — if your down payment is less than 20%, lenders in Georgia require Private Mortgage Insurance (PMI) on conventional loans. The Urban Institute puts typical PMI at about 0.46%–1.5% of the loan amount per year, depending on credit score. PMI is removed once you reach 20% equity.
What is the average home price in Georgia?
Home prices vary widely by city and county in Georgia, and medians change monthly. The $310,000 default in this calculator is an example, not a market median - enter the price of the home you are considering, or check current local sales data from your agent or the state Realtors association.
What is the property tax rate in Georgia?
Georgia’s effective property tax rate on owner-occupied homes is 0.79% according to the Tax Foundation - about $2,449 a year on a $310,000 home. Property is assessed at 40% of fair market value and local millage rates apply to that amount, so your bill depends on your county, city, school district and homestead exemptions.
How much is the real estate transfer tax in Georgia?
Georgia charges $1 per $1,000 of the sale price under O.C.G.A. 48-6-1 - $300 on a $300,000 home - and the seller is liable unless the contract shifts it. A buyer with a mortgage also pays the intangible recording tax of $1.50 per $500 of the loan (maximum $25,000), which is $810 on a $270,000 loan.
What is the monthly payment on a $300,000 house in Georgia?
With 10% down and a 30-year fixed loan at 6.5%, principal and interest is about $1,707 a month. Adding 0.79% property tax ($198), $1,500 a year insurance ($125) and 0.6% PMI ($135) brings the total to about $2,164 a month.