Mortgage on a $550K house in Georgia
$3,589 a month with 20% down — $2,960 principal and interest plus $354 property tax and $275 insurance.
Georgia's typical property tax is 0.77% of the home's value a year (U.S. average 0.9%), which adds $354 a month on a $550K home. The typical home in Georgia is worth $329,115, so $550K is 67% above the typical price.
$550K home in Georgia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $110,000 | $440,000 | $2,960 | $0 | $629 | $3,589 | $153,800 |
| 10% down | $55,000 | $495,000 | $3,330 | $206 | $629 | $4,166 | $178,500 |
| 5% down | $27,500 | $522,500 | $3,515 | $218 | $629 | $4,362 | $186,900 |
| 3.5% down (FHA) | $19,250 | $540,038 | $3,633 | $243 | $629 | $4,506 | $193,100 |
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 $550K buy a typical home?
In these counties the typical home value is within 15% of $550K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Oconee County | $555,351 | 0.7% | $3,555 |
| Forsyth County | $599,870 | 0.73% | $3,570 |
| Fannin County | $496,269 | 0.33% | $3,388 |
| Fayette County | $491,245 | 0.75% | $3,580 |
| Cherokee County | $469,096 | 0.69% | $3,549 |
156 of 159 Georgia counties tracked by Zillow have a typical home value at or below $550K. See all Georgia home prices.
Other prices in Georgia
Frequently asked questions
What is the mortgage on a $550K house in Georgia?
About $3,589 a month with 20% down at 7.11%: $2,960 principal and interest, $354 property tax and $275 insurance.
How much do I need to make to buy a $550K house in Georgia?
About $153,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $550K house in Georgia?
At Georgia's typical effective rate of 0.77%, about $4,254 a year. Rates vary by county and city — see the county pages.