Home Equity Loan and HELOC Rates
April 2026
Last verified: April 2026. Rates change frequently. Your rate will depend on credit score, CLTV, lender, and state.
Home Equity Loan
8.3% APR
National average, April 2026 (15-year term)
In plain English: on a $50,000 loan at 8.3% over 15 years, you pay about $483/month.
HELOC (line of credit)
8.6% APR
Average starting rate, April 2026 (variable)
In plain English: on a $50,000 draw at 8.6%, interest-only payment is about $358/month.
Why rates are variable for HELOCs: HELOC rates are tied to the prime rate, which as of April 2026 is 8.00%. Your rate is typically prime + a margin set by your lender. As the Federal Reserve adjusts its benchmark, the prime rate follows, and your HELOC rate follows that. Home equity loan rates are set at closing and do not change.
April 2026 Lender Rate Table
| Lender | HEL Rate (10yr) | HELOC Starting | Max CLTV | Closing Costs | Time to Close | Best For |
|---|---|---|---|---|---|---|
| Figure | 8.05% | 8.40% | 85% | Waived online | 5-10 days | Fastest close, fully digital |
| Third Federal | 7.89% | 8.20% | 80% | Low flat fee | 3-5 weeks | Lowest rates for strong credit |
| Navy Federal CU | 8.00% | 8.25% | 90% | Low | 3-4 weeks | Military families, high CLTV |
| Spring EQ | 8.15% | 8.50% | 90% | Varies | 2-3 weeks | High CLTV, fast digital process |
| Rocket Mortgage | 8.20% | 8.55% | 85% | 2-3% | 3-4 weeks | Strong digital experience, brand trust |
| Bank of America | 8.25% | 8.60% | 85% | 2-4% | 4-6 weeks | Existing customers, in-person |
| US Bank | 8.30% | 8.65% | 80% | 2-4% | 4-5 weeks | Existing customers |
| PNC | 8.35% | 8.70% | 85% | 2-4% | 3-5 weeks | Southeast/Midwest presence |
| TD Bank | 8.40% | 8.75% | 80% | 2-4% | 4-6 weeks | Northeast presence, in-person |
| Discover | 8.49% | N/A | 90% | Zero | 3-4 weeks | HEL only; zero closing costs |
Rates are indicative for April 2026, assuming 720+ credit score, 80% CLTV, primary residence. HELOC rates are variable and subject to change. Not an offer to lend. Check directly with each lender for current rates.
What your payment looks like at each rate
On a $50,000 home equity loan over 15 years, here is how the monthly payment changes with each rate:
| Rate | Monthly Payment (15yr/$50k HEL) | Total Interest Over 15 Years |
|---|---|---|
| 7.89% | $468/month | $34,233 |
| 8.05% | $476/month | $35,682 |
| 8.20% | $484/month | $37,102 |
| 8.30% | $489/month | $38,000 |
| 8.49% | $498/month | $39,671 |
Fixed vs. variable: which matters more to you?
Home equity loans have a fixed rate. HELOCs have a variable rate. In practical terms:
- If you believe rates will rise, locking in a fixed rate with a home equity loan is protective. You will not pay more even if the prime rate climbs another two points.
- If you believe rates will fall, a HELOC benefits you directly. As the prime rate drops, your HELOC rate drops, and your monthly interest bill falls.
- If you are not sure, a fixed rate provides predictability and peace of mind. Variable rates introduce risk, particularly over a 10-year draw period during which a lot can change.
Some lenders offer a "fixed-rate conversion" option on HELOCs, letting you lock a portion of the balance at a fixed rate. This can be worth asking about if you draw a large lump sum and want to remove variability on that portion.
How to get a better rate
- Higher credit score. Moving from 680 to 740 can reduce your rate by 0.3 to 0.7 percentage points. One full point of rate reduction on a $50,000 loan over 15 years saves approximately $5,200 in total interest.
- Lower CLTV. Borrowing less relative to your home's value means less risk for the lender, which means a better rate.
- Shop at least three lenders. Rate variation between lenders is real. On a $50,000 loan, a 0.5% rate difference is worth $175/year. Over 15 years, that is $2,600.
- Apply within a 14-day window. Multiple HELOC or home equity loan applications within 14 days are typically counted as a single credit inquiry, limiting the impact on your credit score.