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Woodstock, GA Mortgage Rates today

Georgia beckons as a prime spot for homebuyers, offering a blend of Southern charm and urban convenience. With a robust job market, excellent schools, and a rich cultural scene, it's an ideal place to settle. Don't forget to compare our current rates to secure an affordable mortgage for your Georgia dream home.

If you have any questions about securing the best mortgage rates in Georgia, please contact us today. We are here to assist you in finding the mortgage rates that best suit your needs.

Compare today's mortgage rates for Woodstock, GA

The mortgage rates in Georgia are 6.500% for a 30-year fixed mortgage and 6.000% for a 15-year fixed mortgage. These rates are effective as of May 22 2024 12:30pm EST.

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6.000% RATE

6.726% APR

$3,038/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.500% RATE

6.973% APR

$2,275/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.000% RATE

7.056% APR

$2,345/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.375% RATE

7.657% APR

$2,246/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.000% RATE

6.617% APR

$2,185/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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Latest revision - May 22 2024 12:30pm EST.
We update the table twice every day with the current mortgage rates.

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Frequently Asked Questions

What is the average mortgage rate in Georgia?

 

Mortgage rates in Georgia are the percentage of interest charged by mortgage lenders for buying or refinancing a property. These rates have a direct impact on the cost of borrowing to own a dream home in the Peach State. 

What are the current mortgage rates in Georgia?

 

We monitor the mortgage rates in the state from different lenders and update them in the table above. You can access the current mortgage rates in Georgia at Total Mortgage. We update the data twice daily to ensure real-time information. 

Learn More

Georgia first-time homebuyer programs

Georgia Dream Homeownership Program

GDCA supervises Georgia Dream, a 30-year affordable fixed-rate mortgage program for first-time home buyers in Georgia that applies to conventional, FHA, VA, or USDA loans.

Under this first-time home buyer Georgia scheme, the term 'first-time buyer' covers someone who has not purchased a home in the area in the last three years.

Buyers who aren't 'first-timers' (by this definition) but are purchasing in select regions may also qualify for this dream home loan program.

Borrower requirements:

  • 640 minimum credit score
  • Your household income must be less than $74,500 to $99,500, based on the size of your family and which county in Georgia will be your new home.
  • Personal contribution of at least $1,000.
  • Liquid assets must not exceed $20,000 or 20% of the home's purchase price, whichever is higher.
  • Completing a homebuyer education workshop or individual housing counseling session is mandatory.

Property requirements:

  • Purchase prices must fall within the limits, which range from $297,000 to $350,000, depending on the property's location.
  • The purchased home must be your primary residence.

Please note that these purchase prices and income limits for residence purchases are for 2023. The limits are subject to change in 2024.

Georgia down payment assistance

Georgia Dream down payment assistance (DPA)

Georgia Dream home loan program offers down payment assistance in Georgia of up to $10,000 via a secondary, interest-free loan requiring no monthly obligations. This second loan is only repayable when the owner sells the home, refinances the primary Mortgage, or the property is no longer the primary residence.

Some applicants, such as individuals in select professions, active military, or families supporting a disabled loved one, can get up to $12,500 in down payment assistance in GA.

Savannah’s DreamMaker down payment assistance program

Savannah provides aspiring homeowners with DreamMaker Home Purchase Assistance, a program furnishing down payments and closing cost coverage. DreamMaker program issues no-interest, 30-year deferred loans up to $50,000 for eligible applicants. Additional funds—a maximum of $7,500 —may be available if the planned purchase sits within a redevelopment region. Income restrictions tied to the funding stream apply, and you must pass a home inspection to be eligible for this down payment assistance program in GA.

Macon down payment assistance

The city of Macon also wants to help residents achieve ownership. For those selecting a home in the historic College Hill area, it offers up to $25,000 for the down payment. To take advantage of this Georgia first-time homebuyers incentive, annual earnings can be at most 80% of the region's median income.

Other Georgia homebuyer assistance programs

Atlanta first-time homebuyer assistance

As the state's largest metropolis, Atlanta offers many options for aspiring homeowners. The city's economic development authority provides several down payment assistance programs in Atlanta tailored to certain buyer types, particularly first-timers wanting to purchase real estate.

Vine City Renaissance Initiative (VCRI)

This program allows up to $20,000 in forgivable grants for those who will reside in their Vine City home for at least the next five years. Borrower options include conventional, FHA, and VA loans from an Invest Atlanta-associated lender. Liquid assets must not be more than $25,000. You’ll have to pay a fee of $1,000, but there’s no maximum purchase price limit. Income limits ($100,100 – $154,420) are applicable depending on the household size.

Intown Mortgage Assistance Program

The Intown Mortgage Assistance Program incorporates a conventional, FHA, or VA mortgage and $10,000 for a down payment and closing costs (completely excused after residing in the property for five years). Credit score prerequisites range from 660 to 680, depending on your DTI ratio and loan type. This program demands a fee of $1,200, and assets cannot exceed $25,000. Income limits span from $85,800 for a single-person family to $132,360 for a five-person family. The maximum purchase price threshold is $385,000.

Atlanta Affordable Homeownership Program

The Housing Authority of the City of Atlanta, Georgia, can allot up to $20,000, or $25,000, for professionals working in healthcare, education, public safety, or active military/veterans buying inside Atlanta city limits. It is a no-interest loan forgiven in full if the home remains the primary residence for ten years. The purchase cost of the dwelling in consideration must be $375,000 or less, and your household income must be 80 percent of the AMI to qualify.

FHA Loans

FHA loans provide more lenient options for those struggling to qualify elsewhere. Becoming a homeowner is achievable with just a 3.5% DP & a credit score of 580 according to the Federal Housing Administration.

VA Loans

VA loans are an exceptional choice for our country's protectors. Active military, veterans, and surviving partners are granted lower rates through the Department of Veterans Affairs—no down payment expected. Their service is honored through facilitated financing.

USDA Loans

For rural residents seeking the ownership experience, look to the USDA. Their loans require no money down and are location-specific, but they remove a major hurdle. Income qualifications relax in designated areas per the Department of Agriculture's guidelines.

HomeReady and Home Possible Loan

First-timers have accessible alternatives, too, in HomeReady and Home Possible. Created by GSEs like Freddie Mac and Fannie Mae, these programs require just 3% down while maintaining wage flexibility. With room for diverse circumstances, these programs prime new buyers for successful mortgage handling.



Today's Rates

Mortgage rates are volatile and subject to change without notice. All rates shown are for 30-day rate locks with two and a half points for a single family owner-occupied primary residence with 750 or higher FICO and 80 LTV over a 30-year loan term except where otherwise noted and are subject to mortgage approval with full documentation of income. The APR for a 30-year and 15-year conventional fixed-rate mortgage loans are calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, a $10 flood certification fee, and a $82 credit report fee.* 15-year conventional mortgage rates are calculated with a 15-year loan term.* The APR for jumbo mortgage rates is calculated using a loan amount of $500,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee.* The APR for FHA mortgage rates is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee. Some rates and fees may vary by state.* The APR for adjustable rate mortgages (ARMs) is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee and a $82 credit report fee. Some rates and fees may vary by state. Products are subject to availability on a state-by-state basis. By refinancing your existing loan, your total finance charge may be higher over the life of the loan.