Mortgage on a $400K house in Georgia
$2,610 a month with 20% down — $2,153 principal and interest plus $258 property tax and $200 insurance.
Georgia's typical property tax is 0.77% of the home's value a year (U.S. average 0.9%), which adds $258 a month on a $400K home. The typical home in Georgia is worth $329,115, so $400K is 22% above the typical price.
$400K home in Georgia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $458 | $2,610 | $111,900 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $458 | $3,030 | $129,800 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $458 | $3,172 | $136,000 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $458 | $3,277 | $140,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.77% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Georgia does $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Jackson County | $400,788 | 0.87% | $2,643 |
| Gwinnett County | $400,880 | 0.95% | $2,669 |
| Towns County | $397,867 | 0.34% | $2,467 |
| Bryan County | $397,396 | 0.78% | $2,613 |
| Rabun County | $402,742 | 0.56% | $2,539 |
| Pickens County | $392,212 | 0.6% | $2,552 |
| Coweta County | $391,150 | 0.73% | $2,597 |
| Gilmer County | $411,163 | 0.35% | $2,470 |
| Putnam County | $412,044 | 0.68% | $2,580 |
| Lumpkin County | $387,346 | 0.65% | $2,568 |
| Walton County | $386,487 | 0.75% | $2,604 |
| Fulton County | $414,221 | 0.88% | $2,646 |
144 of 159 Georgia counties tracked by Zillow have a typical home value at or below $400K. See all Georgia home prices.
Other prices in Georgia
Frequently asked questions
What is the mortgage on a $400K house in Georgia?
About $2,610 a month with 20% down at 7.11%: $2,153 principal and interest, $258 property tax and $200 insurance.
How much do I need to make to buy a $400K house in Georgia?
About $111,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in Georgia?
At Georgia's typical effective rate of 0.77%, about $3,094 a year. Rates vary by county and city — see the county pages.