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Georgia Mortgage and Refinance Rates

Jeff Ostrowski Written by
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Jeff Ostrowski
Chris Jennings Edited by
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Chris Jennings
Thomas Brock, CFA, CPA Reviewed by
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Thomas Brock, CFA, CPA
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Updated on May 20, 2025
On Tuesday, May 20, 2025, the national average 30-year fixed mortgage APR is 7.02%. The national average 30-year fixed refinance APR is 6.96%, according to Bankrate's latest survey of the nation's largest mortgage lenders.
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Current mortgage rates in Georgia

As of Tuesday, May 20, 2025, current mortgage interest rates in Georgia are 7.05% for a 30-year fixed mortgage and 6.25% for a 15-year fixed mortgage.

Although mortgage rates dipped to a multi-year low in September 2024, they've since climbed back up, compounding affordability issues for homebuyers in Georgia. Home sales in the state were down more than 18 percent as of February 2025, according to ATTOM, while median home prices declined 3 percent. 

Refinance rates in Georgia

Like home purchase rates, refinance rates in Georgia are higher than they were just a few years ago, eliminating the savings opportunity for many homeowners. Still, you might have more equity now thanks to higher home values, which could mean cashing out is an option for you.

National mortgage rates by loan type

Product Interest Rate APR
30-Year Fixed Rate 6.96% 7.02%
15-Year Fixed Rate 6.15% 6.24%
30-Year Fixed Rate FHA 6.92% 6.99%
30-Year Fixed Rate VA 7.07% 7.12%
30-Year Fixed Rate Jumbo 7.03% 7.08%

Rates as of Tuesday, May 20, 2025 at 6:30 AM

Georgia mortgage rate housing market statistics and trends

Georgia’s housing market has experienced appreciation, in part thanks to strong population growth. Here are some statistics about mortgages and the housing market in The Peach State:

  • Median home sales price, April 2025: $360,000
  • Median down payment, February 2025: $40,000
  • One-year change in median sales price on all properties: -1.4% YoY
  • Median days on market: 54

Sources: ATTOM, Georgia Realtors

Mortgage options in Georgia

If you’re looking to get a mortgage in Georgia, there are several options:

  • Georgia conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 45 percent. If you make a down payment below 20 percent, you’ll need to pay private mortgage insurance (PMI), as well. This is the most popular mortgage option in the country. In 2023, 73 percent of single-family home buyers chose a conventional mortgage, according to the U.S. Census Bureau.
  • Georgia FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to obtain a loan insured by the Federal Housing Administration (FHA). If you have a down payment of at least 3.5 percent, you could qualify for this type of loan with a credit score as low as 580.
  • Georgia VA loans: If you’re a veteran or active-duty member of the military, you might qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25 percent to 2.15 percent for the first use.
  • Georgia USDA loans: If you’re buying a rural property in Georgia, you might be eligible for a mortgage guaranteed by the U.S. Department of Agriculture (USDA). These loans don’t require a down payment, but you’ll need to purchase in a designated rural area and meet the area’s income limits.

First-time homebuyer programs in Georgia

The Georgia Department of Community Affairs (DCA) helps connect first-time homebuyers with more affordable loans, as well as down payment assistance, through the Georgia Dream program.

  • Georgia Dream mortgages: Available through participating lenders, these mortgages require you to meet a minimum credit score threshold and for your income to fall within certain limits. There are also purchase price limits. You can get a conventional, FHA, VA or USDA loan through this program, provided you qualify.
  • Georgia Dream Standard Down Payment Assistance: This program offers eligible borrowers a zero-interest loan of up to $10,000.
  • Georgia Dream Protectors, Educators & Nurses (PEN) Down Payment Assistance: This program offers a zero-interest loan for 6 percent of the purchase price — up to $12,500. Those employed in protection (police, highway patrol, correctional, fire and EMS), active military, education or healthcare fields can qualify.
  • Georgia Dream CHOICE Down Payment Assistance: This program offers a zero-interest loan of up to $12,500 to borrowers who are housing an individual with a disability.
Learn more: Georgia first-time homebuyer assistance programs

How to find the best mortgage rate in Georgia for you

  1. Step 1: Strengthen your credit score

    Long before you start looking for a mortgage lender or applying for a loan, give your finances a checkup, and improve your credit score if needed.

  2. Step 2: Determine your budget

    To find the right mortgage, you’ll need a good handle on how much house you can afford.

  3. Step 3: Know your mortgage options

    There are a few different types of mortgages.

  4. Step 4: Compare rates and terms from several lenders

    Rate-shop with at least three different banks, credit unions or mortgage companies or all three to get the best deal.

  5. Step 5: Get preapproved for a mortgage

    Getting a mortgage preapproval is the only way to get accurate loan pricing for your specific situation.

Learn more: How to get a mortgage

Additional Georgia mortgage resources

Meet our Bankrate experts

Written by: Jeff Ostrowski, Principal Reporter, Mortgages

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.

Read more from Jeff Ostrowski

Edited by: Chris Jennings, Editor, Home Lending

I’ve been writing and editing about mortgages and personal finance since 2016. At Bankrate, my primary focus involves covering mortgage and real estate trends. I enjoy simplifying complex mortgage topics for first-time homebuyers and homeowners alike. I graduated from Illinois State University with a Bachelor of Arts in English.

Read more from Chris Jennings

Mortgage rates in other states