HELOC Loans in Georgia

Home Equity Line of Credit (HELOC)

Georgia homeowners can tap into their home’s equity using a HELOC (home equity line of credit) , which offers flexible borrowing and repayment options. Whether you’re renovating a home in Atlanta, paying tuition in Athens, or consolidating debt in Augusta, a HELOC provides a revolving credit line you can use as needed. These loans typically come with variable interest rates and a draw period lasting 5 to 10 years. Most Georgia lenders require 15%–20% home equity and a credit score of at least 620. Fixed-rate home equity loans are also available for borrowers who prefer lump-sum funding and consistent monthly payments. Georgia offers a wide array of lending options from local banks, credit unions, and online platforms.

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How to qualify

To obtain a quote, we will need the following information:

Property Value and

 Purchase Price


Down Payment

Amount


Credit Score

 Asset Types

  • Single Family Homes
  • Townhomes
  • Condos
  • 2 - 4 Units (Duplex, Triplex, Quadplex)
  • Multi-Family: 5 - 8 Units
  • Mixed-Use: 2 - 8 Units
  • Multi-Family: 9+ Unit


Loan Terms

  • Loan Sizes: $100k up to $3.5 Million (Larger loan sizes available on a case by case basis)
  • Purchase LTV: Up to 85%
  • Rate & Term Refinance LTV: Up to 80% 
  • Cash Out Refinance LTV: Up to 80%
  • Amortization: 30 Year % 40 Year Amortization Options Available
  • Term Lengths: 5/6 ARMs, 7/6 ARMs, 10 Year Interest Only, 30 Year Fixed & 40 Year Fixed
  • Floor Rate: 5.50% (subject to change daily due to market volatility)
  • Full Recourse with personal guarantee required for all borrowers with majority ownership (typically 20%+ or 25%+ if closing in an Entity)
  • DSCR Requirement: 1.00x or greater depending on loan size and property type. Sub-1.00x DSCR and NO DSCR options available.
  • Vesting: Lending to Individuals, LLCs, and Corporations. Trusts Allowable on a Case by Case Basis.
  • Average Time to Close: 14 to 35 days

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Frequently Asked Questions

What is a HELOC and how does it differ from a home equity loan?

A HELOC in Georgia gives you access to a line of credit backed by your home’s equity. You can draw funds as needed during the draw period, then repay them over time. In contrast, a home equity loan gives you a one-time lump sum with fixed payments.HELOCs are better suited for flexible, recurring needs like renovations, while home equity loans are ideal for one-time, large expenses. Both are secured loans, but their repayment structures and interest rate types differ.

How do HELOC rates work and what affects the interest rate?

HELOC rates in Georgia are generally variable and linked to the prime rate. Your personal interest rate depends on your credit score, income, equity position, and lender. Some Georgia credit unions or banks offer fixed-rate HELOC conversions or introductory APR discounts. It’s important to compare offers from multiple lenders to find the best balance of rate, fees, and flexibility.

Can I qualify for a home equity loan in Georgia with low credit?

Yes, Georgia homeowners with low credit can sometimes qualify for home equity loans, especially if they have substantial equity and consistent income. Most lenders look for scores above 620, but some may work with scores in the high 500s depending on other factors. Your home’s location and appreciation—especially in areas like Savannah or Roswell—can help improve your chances. Expect to provide full income verification and accept higher rates if your credit is below average.

How much equity do I need in my home to get a HELOC?

In Georgia, most lenders require 15% to 20% equity to approve a HELOC. Your home’s current market value, minus any existing mortgage balance, determines your available credit line.Appreciation in metro areas like Atlanta can boost your eligibility. Lenders will also consider your credit score, income level, and total debts before finalizing your loan terms. Using an equity calculator can help you estimate your borrowing power.

Are home equity loans in Georgia better for large expenses?

Yes, home equity loans in Georgia are often preferred for large, single-use expenses such as medical bills, major repairs, or college tuition. These loans provide a lump sum with a fixed interest rate and consistent repayment schedule. If your expenses are staggered or you're unsure of the exact amount needed, a HELOC might be more appropriate. For predictable, one-time needs, the stability of a home equity loan is a strong option for Georgia residents.

What are typical equity rates and loan terms in Georgia?

In Georgia, HELOC rates usually range from 7% to 10% APR, depending on credit, equity, and the lender. Home equity loans offer fixed interest rates and terms from 5 to 30 years. HELOCs typically include a 10-year draw period and 10- to 20-year repayment window.Local credit unions and regional banks in Georgia may offer competitive rates or member-only deals. Be sure to review rate caps, closing costs, and repayment terms before choosing a lender.

Looking past Georgia? Compare HELOC options in Alabama , Florida , Tennessee , North Carolina , and South Carolina...