Home Equity Loan Rates in Georgia (January 2025)

The equity in your home that you can access and borrow is known as tappable equity. According to TransUnion, tappable equity averages $138,000 in Georgia. A home equity loan (HEL) can help you maximize your home equity, whether you're looking to fund home improvement projects or consolidate debt.

Georgia's home equity loan rates are above national averages — 8.3% APR for a 10-year term (7.7% nationally) and 8.2% APR for a 15-year term (7.9% nationally). We've compiled detailed insights on current home equity loan rates in Georgia, including city-specific rates, top lenders and tips on securing the best rates for using your home's equity.

The current average APR for a 15-year home equity loan in Georgia is 8.2%, but several factors might affect what lenders offer. For instance, a higher credit score can lead to a lower APR, while a larger loan amount might increase the rate. Repayment terms also play a role in determining your rate. Compare the current home equity loan rates in Georgia across different loan terms to see how these factors can influence your costs.

Interest rates for a home equity loan change daily. Keeping track of these rate changes can help you pay less in interest over the life of the loan, saving you money. Additionally, knowing the current rates lets you accurately plan your budget and future expenses, ensuring you're borrowing within your means.

For example, a 15-year home equity loan with an 8.2% APR results in a monthly payment of $481 and a total interest of $36,529. In contrast, a 10-year loan with an 8.3% APR has a monthly payment of $615 and a total interest of $23,751.

The rate you qualify for depends on your loan-to-value ratio, which is the amount you owe on your mortgage compared to your home's appraised value. To calculate your LTV ratio, divide your current mortgage balance by your home's appraised value and multiply by 100. For instance, if your home is valued at $300,000 and you owe $240,000 on your mortgage, your LTV ratio is 80%.

A higher LTV ratio presents a greater risk to lenders, resulting in higher rates. In Georgia, the average APR for a 15-year equity loan with an LTV ratio of 80% is 8.1%, compared to 8.3% for an LTV ratio of 90%. Use the table below to see what rates you might qualify for based on your LTV ratio.

Average APRs vary between cities in Georgia. More lenders compete in larger or more densely populated areas, which can lead to lower interest rates. Additionally, differences in property taxes or local fees can influence rates, affecting overall borrowing costs.

In Georgia, McCaysville has an average APR of 5.6%, while Dublin has an average APR of 11.0%. Use our table to see the average home equity loan rates across Georgia cities with different terms.

Home equity loan rates in Georgia vary significantly between lenders due to individual policies, risk assessments and market strategies. For instance, United Community Bank offers the lowest average APR at 5.6%, while Robins Financial Credit Union has the highest at 11.0%.

Comparing rates and terms from different lenders is key to securing the lowest home equity loan rates. Explore the interactive table to see which lenders offer the best rates in your city.

Securing the best home equity interest rates can lead to lower monthly payments and reduced overall borrowing costs. For example, a homeowner in Georgia could save significantly on interest, freeing up funds for other financial goals. To achieve the best home equity loan rates in Georgia, consider these strategies:

MoneyGeek answers common questions about home equity loan rates for Georgia homeowners. Our resources offer clear and reliable information, helping you confidently navigate your options. Access our detailed insights to better understand how these rates impact your financial decisions.