Deciding to purchase a house in Georgia is a huge financial decision, but with the unique benefits provided by the VA loan, your dream of homeownership just got that much easier.
With the average listing price of a home in Georgia is about $434,254, the VA loan’s signature $0-money-down benefit is a considerable advantage for Georgia homebuyers.
See also: VA Loan Options for Other States
VA loans are made by private lenders and guaranteed by the Department of Veterans Affairs. Because private lenders make the loans and not the VA, you need to find a lender licensed in the state you plan to purchase or refinance.
For example, if you're purchasing a home in Atlanta, GA, you'll need to find a lender licensed in Georgia to do the loan.
VA borrowers in Georgia should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.
As of January 1, 2020, VA borrowers in Georgia with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.
However, veterans without their full VA loan entitlement are still bound to Georgia's VA loan limits.
As of Jan 1, 2022, VA loan limits for all counties in Georgia are $647,200.
Another consideration for VA buyers in Georgia is property taxes. For certain VA buyers, there are exemptions.
You may be eligible for a property tax exemption in Georgia if you meet one of the following conditions
If you are required to pay property tax in Georgia, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:
View the graphic below to learn more about how VA loans work in Georgia.