Alfiya DewaswalaRealtor · Georgia

How much house can I afford in Georgia?

Enter your income, debts and savings to see a comfortable price range and what your monthly payment would include. Everything stays on your phone; nothing is sent anywhere.

Car loans, student loans, credit card minimums
Savings you'll put toward the home
Use the rate a lender quoted you
Metro Atlanta is often 0.9%–1.3%
Many subdivisions and townhomes have one; enter 0 if none

You could comfortably afford about

$0

Comfortable$0
Stretch$0
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Estimates only, not a loan offer. "Comfortable" keeps housing at 28% of income and all debts at 36%; "stretch" uses 33% and 43%. PMI is estimated at 0.6% of the loan per year when you put down less than 20%. Your lender will confirm what you qualify for.

How this calculator works

It finds the highest price where your total monthly housing cost stays within common lending guidelines: about 28% of your gross monthly income for housing, and 36% for housing plus your other debts. That's the comfortable number. The stretch number uses 33% and 43%, which many loan programs allow but leaves less room in your budget.

Your monthly payment includes principal and interest, property taxes, home insurance, HOA fees and, if you put down less than 20%, an estimate for private mortgage insurance (PMI).

Don't forget cash to close

Besides your down payment, plan for closing costs of roughly 2% to 5% of the price, plus earnest money and a due diligence fee when you make an offer. Both are usually credited back to you at closing. The first-time buyer guide explains each one.

Short on down payment? Georgia Dream offers down payment help to eligible buyers, and FHA loans can start at 3.5% down.

Common questions

How much house can I afford on my income?

A common guideline is to keep your total housing payment (mortgage, property taxes, insurance, PMI and HOA) at or below about 28% of your gross monthly income, and all monthly debts at or below about 36%. Many loan programs allow more, but staying near these numbers usually leaves room for savings and surprises.

What property tax rate should I use in Georgia?

Effective property tax rates in metro Atlanta are often around 0.9% to 1.3% of a home's value per year, depending on the county, city and exemptions. The calculator starts at 1.1%. Once you're looking at a specific home, I can pull its actual tax bill.

What is PMI and when do I pay it?

Private mortgage insurance is usually required on conventional loans when you put down less than 20%. It's added to your monthly payment and can typically be removed once you reach about 20% equity. FHA loans have their own mortgage insurance instead.

Is this the same as a pre-approval?

No. This is an estimate to help you plan. A lender's pre-approval looks at your actual credit, income, debts and savings, and sellers expect one with every offer. I'm happy to connect you with lenders I trust.

Next step: download the free first-time buyer checklist.

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