Georgia Mortgage Refinance
Georgians (population 1,044,658) can get a “peach” of a mortgage refinance deal with rates as low as 4.74%APR on a 30 year fixed rate product. The state’s 15 year fixed rate mortgage loan range is from 4.20% APR - 4.81% APR. Borrowers in Georgia should comparing and contrasting rates for similar products and amounts in order to make an informed decision. Before refinancing in Georgia, consider whether a fixed rate or adjustable rate mortgage (ARM) is the best decision. Fixed products offer security because the rate is locked in through the life of the loan. ARMs is attractive because of its low initial rate, however is riskier than a fixed rate because the rate fluctuates according to the US Treasury average. For example, the current rate on a 7/1 ARM is 4.24%APR. Currently, the median sale price for a home in Georgia is $146,700. Average home prices in Atlanta (30309) are $157,100 and $118,600 in Augusta (30901). In terms of home values, the overall state home value is $127,700. The home values in Savannah (31419) are slightly lower at $125,600, however Oakwood (30566) home values range from $224,516 to $263,562.