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Georgia Mortgage Calculator

Your monthly mortgage payment in Georgia, with Georgia's effective property tax rate (0.77%) built in, at this week's average rate. The calculator starts at the state's median home value, $303,300.

A $303,000 home with 20% down ($242,400 borrowed) at 7.28% over 30 years costs about $2,020 a month: $1,659 principal and interest plus $362 of tax, insurance and dues.

Monthly payment
$2,020.13
Principal and interest
$1,658.53
Tax, insurance, PMI and HOA
$361.60
Total interest over the loan
$354,671
Loan balance and interest paid over 30 years at 7.28%$0$100k$200k$300k$400k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $242,400 at 7.28%
YearInterestPrincipalBalance
1$17,569.91$2,332.45$240,067.55
2$17,394.33$2,508.04$237,559.51
3$17,205.53$2,696.84$234,862.67
4$17,002.51$2,899.86$231,962.81
5$16,784.21$3,118.15$228,844.66
6$16,549.48$3,352.88$225,491.78
7$16,297.08$3,605.29$221,886.49
8$16,025.68$3,876.69$218,009.80
9$15,733.85$4,168.52$213,841.28
10$15,420.05$4,482.32$209,358.96
11$15,082.62$4,819.75$204,539.22
12$14,719.80$5,182.57$199,356.64
13$14,329.66$5,572.71$193,783.93
14$13,910.15$5,992.22$187,791.72
15$13,459.06$6,443.30$181,348.41
16$12,974.02$6,928.35$174,420.06
17$12,452.46$7,449.91$166,970.16
18$11,891.64$8,010.73$158,959.43
19$11,288.60$8,613.77$150,345.66
20$10,640.17$9,262.20$141,083.46
21$9,942.92$9,959.45$131,124.01
22$9,193.18$10,709.19$120,414.82
23$8,387.00$11,515.36$108,899.46
24$7,520.14$12,382.23$96,517.24
25$6,588.02$13,314.35$83,202.89
26$5,585.73$14,316.64$68,886.25
27$4,507.99$15,394.38$53,491.88
28$3,349.12$16,553.25$36,938.63
29$2,103.01$17,799.36$19,139.27
30$763.09$19,139.27$0.00

This week's mortgage rates →

Monthly payment in Georgia by home price (20% down, 7%, 30 years, 0.77% tax, $2,000 insurance)

Home pricePrincipal and interestProperty taxTotal
$150,000$798$97$1,062
$230,000$1,224$148$1,539
$300,000$1,597$193$1,956
$450,000$2,395$290$2,851
$610,000$3,247$392$3,806

How this calculator works

As the mortgage calculator, with Georgia's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $2,341 ÷ median value $303,300.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

Questions people ask

What is the mortgage payment on a median home in Georgia?

On $303,300 with 20% down at 7% over 30 years: about $1,614 principal and interest and $195 of property tax, $1,976 a month with $2,000 a year of insurance.

What is the median home value in Georgia?

$303,300 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Georgia?

The effective rate is 0.77%, a median $2,341 a year. See Georgia's property tax page for every county we cover.

How much income do I need for a median Georgia home?

Under the 28% guideline, about $84,689 a year for the payment above; Georgia's median household income is $77,353.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • Georgia Property Tax CalculatorGeorgia homeowners pay a median $2,341 a year in property tax, 0.77% of a median $303,300 home: the 27th highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.