Mortgage on a $650K house in Georgia
$4,242 a month with 20% down — $3,498 principal and interest plus $419 property tax and $325 insurance.
Georgia's typical property tax is 0.77% of the home's value a year (U.S. average 0.9%), which adds $419 a month on a $650K home. The typical home in Georgia is worth $329,115, so $650K is 97% above the typical price.
$650K home in Georgia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $130,000 | $520,000 | $3,498 | $0 | $744 | $4,242 | $181,800 |
| 10% down | $65,000 | $585,000 | $3,935 | $244 | $744 | $4,923 | $211,000 |
| 5% down | $32,500 | $617,500 | $4,154 | $257 | $744 | $5,155 | $220,900 |
| 3.5% down (FHA) | $22,750 | $638,227 | $4,293 | $287 | $744 | $5,325 | $228,200 |
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 $650K buy a typical home?
In these counties the typical home value is within 15% of $650K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Greene County | $634,869 | 0.61% | $4,156 |
| Forsyth County | $599,870 | 0.73% | $4,219 |
| Oconee County | $555,351 | 0.7% | $4,201 |
159 of 159 Georgia counties tracked by Zillow have a typical home value at or below $650K. See all Georgia home prices.
Other prices in Georgia
Frequently asked questions
What is the mortgage on a $650K house in Georgia?
About $4,242 a month with 20% down at 7.11%: $3,498 principal and interest, $419 property tax and $325 insurance.
How much do I need to make to buy a $650K house in Georgia?
About $181,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $650K house in Georgia?
At Georgia's typical effective rate of 0.77%, about $5,027 a year. Rates vary by county and city — see the county pages.