Home Equity Loan Rates

Find and compare home equity rates below or read about the latest home equity content and FAQs.

Home equity loan rates in

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Find out more about home equity debt. Learn about the criteria used in surveys of rates above. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website, where you can find additional information. Rates are subject to change without notice and may vary from branch to branch.

Today's Average Home Equity Rates

Loan Type Rate
Last update: 09/18/2018 8:05am
Home Equity 5.80%
Home Equity Line of Credit 5.42%
Today's average Home Equity Rate is 5.80%. Today's Average Home Equity Line of Credit (HELOC) is 5.42%.
  A home equity loan is a type of second mortgage that lets you borrow money against the value of your home. Whether you own your home outright or have a standard first mortgage, home equity loans let you unlock the equity in your home in exchange for a second mortgage.

Home Equity Loan Help

Home equity loans can seem complicated — especially when you’re just starting out. Take a look at the breakdown below to learn more about the variables we use to find you the best rates.

Home Equity Loans Rates Terminology

Below are common terms we use when displaying rates.

Home Equity Loan FAQs

If you have more questions or are still unsure about home equity loans, take a look at the following frequently-asked questions.

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Home equity tips

A home equity line of credit, or HELOC, has an adjustable rate of interest attached to paying it off, which means that your payments can fluctuate based on the federal funds rate. Think about a home loan if the idea of an adjustable rate unnerves you.

Know your loan-to-value, or LTV, ratio. This is how much you owe versus how much the home is worth. Many people are in trouble now because their homes dropped in value. You don't want to be stuck owing more than your house is worth.

Figure out what the loan is for and how long you'll need the money to help decide which kind of loan you need. Home equity loans are better for single lump sum expenses while home equity lines of credit, or HELOCs, are best for prolonged expenses, like college tuition.