<ul data-eligibleForWebStory="true"><li>Home equity loans and HELOCs allow homeowners to borrow against the value of their homes, with a home equity loan being a fixed-rate, lump-sum loan and a HELOC being a variable-rate second mortgage.</li><li>HELOCs come in varying amounts ($100K, $250K, $500K) to cater to different financial needs, with different term lengths like 5, 10, 15, 20, and 30 years to suit borrowers' preferences.</li><li>The equity in a home is calculated by subtracting the remaining mortgage balance from the home's appraised value; borrowing capacity is based on this equity value, with competitive interest rates due to loans being secured against the home.</li><li>Lenders typically limit borrowing amounts based on loan-to-value ratios (LTV), such as 80% LTV or less, to mitigate risk of default and potential foreclosure.</li></ul>

Today’s HELOC & Home Equity Loan Rates: June 30, 2025

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