<ul><li>Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes.</li><li>A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home's value and pay it back in monthly installments.</li><li>A home equity line of credit is a variable-rate second mortgage that uses your home's value as a revolving line of credit.</li><li>HELOC rates are tied more closely to banks and are expected to increase in 2022 and beyond as the Federal Reserve plans to raise interest rates.</li></ul>

Today’s HELOC & Home Equity Loan Rates: February 24, 2025

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