Georgia First-Time Homebuyer Calculator
First-time homebuyer costs in Georgia: $11,200 FHA down payment, $8,960 closing costs, 0.92% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Georgia. Includes down payment, closing costs (2.8%), PMI (required below 20% down), property tax (0.92%), and homeowners insurance ($2,050/yr). Note: Georgia requires an attorney at closing. DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Georgia homebuyer facts: Median price $320,000 | 20% down = $64,000 | FHA 3.5% down = $11,200 | Closing costs ~$8,960 | Property tax 0.92% | Attorney required at closing.
Frequently Asked Questions
How much do I need to buy a house in Georgia?
For Georgia's median home ($320,000): FHA minimum down payment is $11,200 (3.5%), plus $8,960 in closing costs. Total minimum: ~$20,160. With 20% down to avoid PMI: ~$72,960.
What are closing costs in Georgia?
Georgia closing costs average 2.8% of the home price, or about $8,960 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and required attorney fees. Transfer taxes are 0.1%.
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