<ul data-eligibleForWebStory="false"><li>Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes, with a HELOC being a variable-rate second mortgage while a home equity loan is a fixed-rate, lump-sum loan.</li><li>HELOCs come in different amounts and term lengths, ranging from $100K for extensive renovation projects to $500K for substantial financing needs, with options for 5, 10, 15, 20, and 30-year terms suited to varying project sizes and financial goals.</li><li>HELOC rates are influenced more by bank rates than first-mortgage rates and are expected to rise as per signals from the Federal Reserve, impacting borrowing costs.</li><li>Calculating home equity involves subtracting your current mortgage balance from your home’s current value, with lenders typically approving loans based on a set loan-to-value (LTV) ratio, such as 80% LTV or less.</li></ul>

Current HELOC & Home Equity Loan Rates: July 14, 2025

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