Financing · August 17, 2026 · 7 min read
How Much Do You Really Need for a Down Payment in Metro Atlanta?
The short answer
Most Metro Atlanta buyers put down between 3% and 10%, not 20%. Conventional loans start at 3% down, FHA at 3.5%, and VA and USDA loans allow 0% down for buyers who qualify.
How much down payment do you need to buy a house in Metro Atlanta?
Plan on 3% to 10% of the purchase price for most loan programs, plus roughly 2% to 3% for closing costs.
- Conventional: 3% down for qualified first-time buyers, 5% is common otherwise
- FHA: 3.5% down with a 580+ credit score
- VA: 0% down for eligible service members and veterans
- USDA: 0% down in eligible rural areas, which still include parts of Henry, Spalding, and Butts counties
On a $400,000 home in Henry County, that means about $12,000 to $40,000 down and another $8,000 to $12,000 in closing costs. The 20% figure people quote comes from avoiding private mortgage insurance, not from any lender rule.
Should you put 20% down if you can?
Only if it does not drain your reserves. Twenty percent removes mortgage insurance and lowers the payment, but cash in the bank is what keeps a purchase comfortable.
Buyers who empty savings to hit 20% often end up financing a water heater or a roof repair at a much higher interest rate a year later. A common middle path is 10% down with a plan to remove mortgage insurance once the loan reaches 80% of the home's value.
What down payment assistance is available in Georgia?
Georgia Dream, administered by the Georgia Department of Community Affairs, offers down payment assistance to qualified buyers, with larger amounts for protected professions such as educators, healthcare workers, public safety, and active military.
Income and purchase-price limits apply and they vary by county, so eligibility in Henry County can differ from Fulton or DeKalb. Some lenders also carry their own grant programs. Confirm current limits with your lender before you write an offer, since the caps are revised periodically.
What closing costs should Atlanta buyers budget for?
Budget 2% to 3% of the purchase price for closing costs on top of your down payment.
- Lender origination and underwriting fees
- Appraisal, typically $500 to $700
- Home inspection, typically $400 to $600, paid before closing
- Attorney fees, since Georgia is an attorney-closing state
- Prepaid property taxes and the first year of homeowners insurance
- Title insurance and recording fees
In a balanced market, sellers will sometimes contribute toward closing costs. That contribution is negotiable and it is often worth more to a buyer than a small reduction in the sale price.
How long does it take to close on a home in Georgia?
Thirty to forty-five days from a binding agreement is typical for a financed purchase, and two to three weeks for cash.
The timeline is driven by the appraisal and underwriting, not the paperwork. Buyers who are fully underwritten before shopping routinely close faster and win competitive offers with the same price.
Still deciding?
Penny Williams has served Henry County and Metro Atlanta buyers and sellers for more than 30 years. Ask your question directly — no obligation.
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