Best Georgia Mortgage Lenders

The average mortgage rate in Georgia is currently 7.12% for a 30-year fixed loan term and 6.41% for a 15-year fixed loan term.

These are the interest rates offered to Georgia residents looking to buy or refinance a home as of 06/28/2023.

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The 30-year fixed mortgage rate fell to 7.08% this week, retreating to the lowest level in over a month. Most fixed rates declined or stayed about the same, while adjustable mortgage rates ticked slightly higher.

Mortgage interest rates are widely expected to fall through 2023 but have remained elevated during the spring and summer homebuying seasons. Here are the current mortgage rates, without discount points unless otherwise noted, as of June 22:

    • 30-year fixed: 7.08% (down from 7.14% a week ago).
    • 20-year fixed: 7.08% (up from 7.07% a week ago).
    • 15-year fixed: 6.52% (down from 6.54% a week ago).
    • 10-year fixed: 6.61% (down from 6.65% a week ago).
    • 5/1 ARM: 6.12% (up from 6.08% a week ago).
    • 7/1 ARM: 6.22% (up from 6.21% a week ago).
    • 10/1 ARM: 6.45% (up from 6.43% a week ago).
    • 30-year jumbo loans: 7.15% (down from 7.22% a week ago).
    • 30-year FHA loans: 6.19% with 0.05 point (down from 6.32% a week ago).
    • VA purchase loans: 6.48% with 0.04 point (down from 6.6% a week ago).

Georgia homebuyers can get favorable mortgages and help with down payments and closing costs from these programs.

  • Available to: Eligible low- and moderate-income Georgians.
  • Income limits: Vary by county.
  • First-time homebuyers only?: Yes, with exceptions for eligible homebuyers purchasing in a targeted area or those who have not owned a home in the past three years.
  • Loan options: 30-year fixed-rate mortgages.
  • Down payment and closing cost assistance: All eligible homebuyers may qualify for $5,000 or more in assistance. Down payment assistance is a 0% interest loan with no monthly payment. A second mortgage lien is placed on your property. It is due when you sell, refinance or no longer occupy the home as your primary residence.
  • Available to: Eligible homebuyers.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Loan options: 30-year fixed-rate mortgages.
  • Benefit: Up to $5,000 in down payment assistance.
  • Available to: A public protector, educator, health care provider or active-duty service member.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Loan options: 30-year fixed-rate mortgages.
  • Benefit: Up to $7,500 in down payment assistance.
  • Available to: Buyers who have a family member living with a disability.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Benefit: Up to $7,500 in down payment assistance.

U.S. News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.

To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.

The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.

To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.

To recap, here are the picks:

Best Georgia Mortgage Lenders of 2023

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