Georgia Mortgage Rates

Searching for competitive mortgage rates in Georgia? At Alpine Mortgage, we're committed to finding you the best rates available. Below are today's purchase and refinance mortgage rates on our conventional, FHA and VA loan programs for homes in Georgia. For rates on our other loan programs such as investment property loan rates, renovation loan rates, reverse mortgage rates, DSCR loan rates or Non QM loan rates, please reach out to us for a personalized quote. At Alpine Mortgage our mission is clear: to provide you with the lowest mortgage rates in GA and to offer valuable Georgia mortgage resources to help navigate the complexities of the mortgage process.

Current Mortgage and Refinance Rates in Georgia

The conventional rates shown are based on a loan amount of $525,000 and a down payment of at least 25%. The FHA rates shown are based on a loan amount of $675,500 and a down payment of at least 3.5%. The VA rates shown are based on a loan amount of $700,000 and no down payment. GA Mortgage rates are subject to change at any time and are subject to mortgage approval with full documentation of income. All rates shown are for a 30 day rate lock with one discount point on the purchase or rate and term refinance of a single family primary residence with a 740 or higher FICO score.

Georgia Best Rate Guarantee

Do you want the best deal on your mortgage but are tired of trying to compare the fine print to determine the difference between the quotes prepared by various lenders? At Alpine Mortgage we are committed to helping you secure the best mortgage rate for your home financing needs which is why we offer our Best Rate Guarantee. We search out the best rate and fees based on your goals and find the best pricing available through our large variety of loan programs. 

You are welcome to shop all other local lenders for a better deal. If you can find one, provide us with that lender's signed and dated lock in agreement and Loan Estimate on the day the interest rate is locked in and we will beat that lender's interest rate and/or lender fees. At Alpine Mortgage, your satisfaction is our priority. With our Best Rate Guarantee, you can shop for your mortgage with confidence, knowing that you are getting the best possible interest rate for your mortgage.

Terms and conditions: Our Best Rate Guarantee applies to our fixed rate conventional, FHA and VA loan programs only and does not apply to any other loan programs. Our Best Rate Guarantee is subject to change or termination at any time without prior notice.

Georgia Mortgage Programs

Georgia Conventional Loans. Among the most popular loan options, conventional loans have specific requirements such as a minimum credit score of 620 and a minimum down payment of 3%. Interest rates on these loans can vary greatly based on the credit score and down payment. If you are putting less than 20% down you will also have to pay private mortgage insurance (PMI) which can be paid either upfront at closing or monthly until your equity in the property reaches at least 20%. These loans can be used to purchase a primary residence, vacation property or an investment property.

Georgia FHA Loans. If your credit history is not good enough for a conventional loan, a FHA loan may be a good option. A FHA loan is a loan that is insured against default by the Federal Housing Administration (FHA). The minimum down payment on a FHA loan is 3.5% with a minimum credit score of at least 580. For borrowers with a credit score as low as 500 it is still possible to get a FHA loan with a larger down payment of at least 10%. Regardless of the amount of your down payment, FHA loans require the payment of mortgage insurance premiums (MIP). FHA loans are available only on a primary residence and the maximum loan amount varies by county. You can view the current GA FHA Loan Limits for all counties in California. 

Georgia VA Loans. Backed by the Department of Veteran Affairs, VA loans offer veterans and their families with home loans with no down payment required. VA loans do not have any mortgage insurance but may have a funding fee that is collected at closing. VA loans are only available on a primary residence.

Georgia Non QM Loans. For borrowers that can't qualify for a conventional, FHA or VA loan because of credit issues or income documentation requirements, we offer several different Non QM loan products. For investment properties, we offer our DSCR loan program where qualification is based on the cash flow of the investment property. Our Non QM provides flexibility in lending standards for individuals with unique financial circumstances or credit issues such as a recent bankruptcy or foreclosure. These loans can be used to finance a primary residence, vacation property or an investment property.

Georgia Reverse Mortgage Loans. For homeowners that are 62 years or older, a reverse mortgage allows you to access the equity in your home by either receiving a lump sum, fixed monthly payments or a line of credit. Reverse mortgages are only available on a primary residence.

30 Year Fixed and 15 Year Fixed Mortgage Rates in GA

30 year fixed and 15 year fixed mortgages are popular options in Georgia. A 30 year fixed mortgage is the most popular choice. The biggest advantage of a 30 year term is lower monthly payments compared to shorter term loans which can make homeownership more affordable especially for first time buyers or those with other expenses. Understanding the estimated monthly payment for a 30 year fixed mortgage can help homeowners manage their cash flow more effectively, providing a clearer picture of their financial obligations. This is particularly beneficial for budgeting and long term financial planning, as it allows for a more predictable expense over the duration of the loan. 15 year fixed loans offer lower interest rates for borrowers that can afford the higher mortgage payment due to the shorter amortization period. We offer 30 year fixed and 15 year fixed loan options on our conventional, FHA, VA and Non QM loan programs.

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Choosing between a 30 Year Fixed and a 15 Year Fixed

• Financial Stability and Cash Flow. If you prefer lower monthly payments for better cash flow management, a 30 year mortgage might be the better choice. It allows more flexibility in budgeting and provides the opportunity to invest surplus funds in other ventures that may offer higher returns.
• Total Cost and Interest. If you can afford higher monthly payments without undue financial strain, a 15 year mortgage will save you money in the long run due to lower interest rates and less total interest paid.
• Equity Building. A 15-year mortgage helps build equity faster, which is beneficial if you plan to sell the home after a few years or leverage the equity for other financial needs.

How to Get the Best Georgia Mortgage Rates

Securing the best mortgage rates in California can significantly impact your overall homeownership costs. With the state's high property prices, even a slight reduction in interest rates can save you thousands of dollars over the life of your loan. Here are some essential steps to help you get the best mortgage rates in California:

Strengthen Your Credit Score. Your credit score is one of the most critical factors in determining your mortgage rate. Lenders typically offer the best rates to borrowers with excellent credit scores (720-850). To improve your credit score pay your bills on time, reduce your debt and avoid opening new credit accounts before applying for a mortgage.

Shop Around. Mortgage rates can vary significantly between lenders. Compare rates and fees from multiple mortgage companies to find the best deal. A Georgia mortgage broker can be a good resource as they can shop several lenders to find the best deals.

Consider a Shorter Term. While 30 year mortgages are the most popular selecting for a shorter loan term such as a 15 year mortgage, can help you secure a lower interest rate. Although your monthly payments will be higher you'll pay less in interest and build equity faster.

Make a Larger Down Payment. A larger down payment can also help you secure a better mortgage rate. While you can buy a home with as little as 3.5% down, putting down at least 20% can help you avoid private mortgage insurance (PMI) and secure a better rate.

Lock in Your Rate. Mortgage rates can fluctuate daily. Once you find a favorable rate, consider locking it in to protect yourself from potential increases. A rate lock guarantees your interest rate for a specified period, typically 30 to 60 days. This protects you from potential rate increases while your loan is in process.

Understand the Georgia Mortgage Market. California’s real estate market is highly competitive and diverse. With its bustling urban centers to serene coastal towns, Georgia offers a variety of mortgage products. Staying informed about current trends and market conditions in Georgia will give you a competitive edge.

Securing the best mortgage rate in Georgia requires diligent research and preparation. By strengthening your financial profile, saving for a larger down payment, shopping around and considering various loan options you can secure the best mortgage rates in Georgia. Additionally, staying informed about market trends can further enhance your chances of getting a favorable rate. Remember, even a small reduction in your mortgage rate can lead to significant savings over the life of your loan.

Georgia Real Estate & Mortgage Update

Market Conditions. The Georgia real estate market exhibits a blend of stability and gradual change. The average home value in the state stands at $326,316, reflecting a modest 1.0% increase over the past year. Homes typically go pending in approximately 46 days, indicating a balanced pace in transactions. In the Atlanta metro area, the market has experienced a significant 20.0% increase in homes for sale from January to February 2025, totaling 7,630 listings. This rise in inventory suggests a shift towards a more buyer-friendly environment. Additionally, the number of homes sold increased by 6.3% during the same period, with an average of 56 days on the market, up from 42 days the previous year. ​

Mortgage Rate Trends. Following a period of historic lows, mortgage rates have shown some volatility over the past few months. This uptick is largely due to the Federal Reserve's efforts to curb inflation through rate hikes, which have subsequently influenced borrowing costs. Higher mortgage rates have cooled some of the frenzied buyer activity observed in previous years, leading to a more balanced market in several regions. The increased cost of borrowing is prompting potential homebuyers to re-evaluate their purchasing plans, with some opting to wait for a dip in rates. However, despite these challenges, demand in high growth areas remains robust supported by strong job markets and continued migration trends.

Mortgage Rate Outlook. Looking ahead, experts anticipate a gradual decrease in mortgage rates. Fannie Mae forecasts the 30-year fixed-rate mortgage to average 6.2% in the fourth quarter of 2025 and continue descending into 2026. This potential easing of rates could enhance affordability and stimulate buyer activity in the Georgia housing market.​ For more information, see our Mortgage Rate Forecast for expert predictions on where rates are headed in 2025 and beyond. 

How GA Mortgage Rates Affect the Local Market

Georgia mortgage rates have a big impact on the local housing market, influencing affordability, buyer behavior and overall market dynamics. Here are the main effects:

Affordability Challenges

Higher mortgage rates make the monthly mortgage payment more expensive. This increase in borrowing cost makes homeownership less affordable for many households, especially those with lower incomes. The annual household income needed to qualify for a mortgage on a mid tier home in Georgia is now around $250,000 which is more than double the state median household income. This gap only makes affordability worse leaving a big chunk of the population unable to buy.

Buyer Behavior and Market Activity

Higher mortgage rates keep potential buyers out of the market. As rates rise, many buyers delay or are priced out altogether. The impact of higher rates varies by region in Georgia. In areas like Atlanta where buyers typically put down more the effect of higher borrowing cost is less. In areas where buyers put down less like Southern Georgia the affordability challenge is more pronounced.

Supply Constraints

Higher mortgage rates make the supply even tighter. Homeowners with existing low rate mortgages are less likely to sell and re-enter the market at higher rates, reducing the number of homes for sale. This "lock-in" effect reduces inventory and keeps prices high despite higher borrowing cost. Even with high rates home prices in Georgia are still going up. For example the average home price hit $326,316 in 2025, up 1% from last year. Limited supply of homes for sale keeps prices going up.

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Regions of Georgia Most Affected by High Mortgage Rates

High mortgage rates in Georgia have had varying impacts across different regions with certain areas experiencing more pronounced effects due to local economic conditions and housing market dynamics:

Savannah

Among midsize metropolitan areas nationwide, Savannah has been notably affected by rising interest rates. Between February 2022 and February 2024, the city experienced a 73.0% increase in hypothetical monthly mortgage payments for median priced homes, ranking it second in the nation for midsize metros most impacted by changing interest rates.

Hinesville

In smaller metropolitan areas, Hinesville stands out with a 73.1% increase in hypothetical monthly mortgage payments during the same period, making it the most impacted small metro in the country.

Warner Robins

This area also faced significant challenges, with a 66.4% rise in mortgage payments, placing it among the top 15 small metros most affected by high interest rates.

Atlanta Metro Area

While not leading the nation, the Atlanta metropolitan area has experienced a notable slowdown in home price growth over the past three years, largely due to elevated mortgage rates suppressing demand. Forecasts suggest that if mortgage rates and housing inventory remain unchanged, home prices in the region may stagnate.

Rural Southern Georgia

In rural parts of the southern region, including areas of Georgia, residents often face higher mortgage interest rates compared to national averages. In 2021, the average mortgage interest rate in these rural areas was 3.51%, compared to 3.13% nationally. Additionally, these communities may encounter challenges such as lower credit availability and higher delinquency rates, exacerbating the impact of rising mortgage costs.

Georgia Refinance Rates

Owning a home is a fundamental aspect of the American Dream and many in Georgia consider refinancing to better manage their financial situation. Keeping informed of Georgia refinance rates is important as economic shifts greatly impact the housing market and can influence the timing and benefits of refinancing. Several factors, including the broader economy, government policies, and financial market dynamics, affect refinance rates in Georgia.

Key influences on refinance rates include actions by the Federal Reserve, fluctuating inflation rates and the state of the bond markets all of which can cause interest rates for refinance loans to vary. This variability impacts how advantageous refinancing might be at different times. For instance, when the Federal Reserve announces changes to interest rate targets, lenders typically adjust their rates accordingly. Likewise, if inflation increases, lenders might raise rates to maintain their profit margins.

Strategies for GA Homeowners Considering Refinancing

For homeowners contemplating refinancing, aligning the decision with your financial goals is crucial. Here are some strategies for Georgia homeowners to consider when evaluating refinance rates:

• Assess your financial situation: Ensure that refinancing aligns with your current financial goals and circumstances.
• Examine all costs: Look beyond the advertised interest rates and consider all associated fees to understand the total cost of refinancing.
• Plan for the future: Consider how long you plan to stay in your home since this can influence the cost effectiveness of refinancing.
• Monitor economic indicators: Stay informed about economic trends that could indicate shifts in interest rates, helping you choose the best time to refinance.
• Rate locks: Consider locking in a rate during periods of favorable rates to maximize potential savings.

Refinancing can help in many ways like lowering monthly payments, changing loan terms or getting equity from your property. Increasing Georgia refinance rates and mortgage interest rates are a challenge for homeowners. If you're thinking about refinancing, consider how the higher rates balance with gaining from your home's equity. Careful thinking and clear calculations are important when deciding to refinance today. 

Cash Out Refinance in Georgia

California's high home values and competitive mortgage market make cash out refinances a popular option for homeowners.

• Substantial Home Equity: With some of the highest home prices in the nation, many Georgia homeowners have built up significant equity in their properties. This equity can be leveraged through a cash out refinance to access funds for various financial goals.
• Competitive Lending Environment: Georgia's mortgage market is highly competitive with numerous lenders offering cash out refinance options. This competition can lead to favorable terms and interest rates for borrowers.
• Potential Tax Benefits: Georgia homeowners may be able to deduct the interest paid on their cash out refinance, providing a potential tax benefit. However, it's essential to consult with a tax professional to determine eligibility.
• Diverse Housing Market: Georgia's housing market is diverse, with a mix of single-family homes, condominiums and multi-unit properties. Experienced lenders can help navigate the cash out refinance process for these various property types.

When considering a cash out refinance in Georgia, it's important to work with a refinance lender that can help guide you through the process and ensure that you're making the best decision for your financial future.

GA Mortgage Rates FAQs