Georgia Mortgage Refinance
Georgia homeowners have some solid options when it comes to refinancing. After 17 years as a licensed mortgage broker working with clients nationwide, I have closed many Georgia refinances, and the process is largely the same whether you are in Atlanta, Savannah, Augusta, or a smaller town. But there are a few Georgia-specific details worth knowing.
Georgia Closing Cost Considerations
Intangible tax. Georgia charges an intangible tax on new mortgages. This applies to refinances as well. The rate is $1.50 per $500 of the loan amount (or $3.00 per $1,000). This is a cost you will not see in every state, so factor it into your break-even calculation.
Attorney state. Georgia is an "attorney closing" state, which means an attorney must oversee the closing process. This can add to your closing costs compared to states where a title company handles closings.
Recording fees. County recording fees in Georgia vary, but they are generally moderate.
What Affects Your Rate in Georgia?
Your rate depends on the same core factors as in any state.
- Credit score
- Loan-to-value ratio
- Property type (single-family, condo, etc.)
- Loan amount
- Loan term and type
Georgia has a wide range of property values, from affordable areas to the high-demand Atlanta metro. Your loan amount relative to conforming limits will affect your rate options.
Popular Refinance Options in Georgia
Rate-and-term refinance. The most common type. You replace your current loan with one that has a better rate or term.
VA IRRRL. Georgia has a large military population. If you have a VA loan, the Interest Rate Reduction Refinance Loan may be an option with simplified requirements.
Cash-out refinance. If you have built equity, you can tap into it for home improvements, debt consolidation, or other needs.
Getting Started in Georgia
Visit our Georgia refinance page to see your rate options. You can also check your rate at Lendtrain in 30 seconds. Enter your credit score, loan amount, and property details to see what you could qualify for. If you are still learning the basics, start with how mortgage refinance works and the refinance break-even point. Taking equity out? Compare the best cash-out refinance lenders in Georgia.
Rate quotes are estimates based on the credit score you enter. Actual rates may differ based on verified credit, income, and property details.