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Thank you for choosing Georgia’s own!
Unlock the financial flexibility of your home by applying for a Georgia’s Own home equity loan. If you are a homeowner, you can use your home’s equity to cover home repairs or renovations, medical expenses, college tuition, bill consolidation, or a little extra cash flow – whatever you need.
ReadiEquity Line of Credit
Get your cash with extra convenience. Our ReadiEquity Line of Credit is a revolving credit line that offers easy access to your funds with ReadiEquity checks, online banking, and TeleTalk Plus.
ReadiEquity LOC offers:
- Low Rates* (subject to change monthly)
- Lines of credit from $10,000 up to $300,000**
- No closing costs*
- Interest may be tax deductible***
Important Links:
Home Equity Fixed-Rate Loan
For stability and predictability, our Home Equity Fixed-Rate Loan offers one rate throughout the life of your loan. Borrow anywhere from $10,000 to $300,000 with no closing costs* and interest that may be tax deductible.**
*Rates are variable and subject to change. Your Annual Percentage Rate (APR) may differ from the one shown and will be based on your credit worthiness and loan to value. Rate may not exceed 18% at any time. Property and/or flood insurance may be required. Terms, rates, and conditions are subject to change without notice. No closing costs offer may be withdrawn without notice. ReadiEquity has early closure fee of $240 if the loan is paid in full within 36 months.**Maximum loan amount is $250,000 for CLTV above 80%, but not exceeding 95% with mortgage insurance approval. Maximum loan amount is $300,000 if CLTV is 80% or less. Required minimum initial advance of $5,000. Investment and rental properties cannot be vacant. Will pay up front for full appraisal. At funding, appraisal costs will be refunded. ***Please consult your tax advisor.
Penny
Hoschton
Georgia's Own was there for us during our adoption process and ensured we had the financing we needed to bring home our son. Thank you for helping us become a family! Experience the difference.
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Penny
Hoschton
Second Homes & Rental Properties
Yes, we also offer fixed-rate loans on second homes and rental properties. Terms vary, so contact one of our advisors for details.
Points:
A point is equal to one percent of the principal amount of your mortgage. For example, if you get a mortgage for $100,000, one point means you pay $1000 to the lender. These points are usually collected at closing and may be paid by the borrower or the home seller, or may be split between them.
Annual Percentage Rate (APR):
A rate that reflects the actual annual cost of a loan and includes the loan interest rate, private mortgage insurance, points and some fees.
Loan Assumptions and Disclosures
These sample rates are published weekdays at 10:00am EST.
The information provided is general and assumes only the following scenario:
- Purpose of the loan: Purchase a property.
- Property location: Atlanta, GA 30303
- Property Type: Existing single family home
- Property Use: Primary residence
- Estimated property value: $200,000
- Estimated down-payment: $40,000
- Loan amount: $160,000 (80% Loan to Value)
- Credit Score: 740
- Escrow (impound) account is required.
- Rate lock period is 45 days.
- Fees: $3000 to estimate closing costs in order to approximate an APR.
Georgia's Own Credit Union Loan Options
Mortgage Type:
5/5 ARM
Advantages:
- Interest rate stays fixed for first 5 years. Adjusts every 5 years thereafter.
Best Choice If:
- The benefits of both a Fixed and ARM product.
Disadvantages:
- Interest rate and monthly payments will adjust in the future.
- Interest rate can rise above the current fixed rates over time.
ARM Features:
- Fixed for 1st 5 years, adjusts every 5 years after.
Georgia's Own Credit Union Loan Options
Mortgage Type:
30-Year Fixed
Advantages:
- Level principal and interest payments for the full term of the loan.
- Allows for higher loan amount qualification and enhanced buying power.
- No risk that changing market conditions will increase your monthly payments.
Best Choice If:
- You plan on staying in the home long-term.
- You need your monthly payments to remain fixed over the life of the loan.
Disadvantages:
- Benefits of the fixed rate are not realized until after the 10th year. (10/1 ARM is a better option if loan is paid-off within 10 years.)
Georgia's Own Credit Union Loan Options
Mortgage Type:
15-Year Fixed
Advantages:
- Level principal and interest payments for the full term of the loan.
- No risk that changing market conditions will increase your monthly payments.
- The loan balance will decrease more rapidly than a 30 Year mortgage.
Best Choice If:
- You plan on staying in the home long-term.
- You need your monthly payments to remain fixed over the life of the loan.
- You would like to pay-off the loan balance quickly.
Disadvantages:
- Monthly payments are higher than a 30-year mortgage
Sample Payment:
- Please click on the P&I link at