How much will a $100,000 home equity loan cost monthly right now?
Summary
Homeowners in the U.S. currently have large amounts of home equity they can borrow against. A $100,000 home equity loan now costs between about $900 and $1,160 per month, which is cheaper than earlier this year and generally less expensive than using credit cards or personal loans.Key Facts
- The average home equity loan interest rate is 6.98% as of June 25, 2026.
- Monthly payments for a $100,000 loan are about $1,160 for 10 years or $898 for 15 years at this rate.
- Earlier in 2026, rates were higher (around 8.1-8.2%), making monthly payments more expensive.
- Home equity loans have a fixed interest rate, so monthly payments stay the same during the loan term.
- Borrowers must keep at least 20% equity in their home when borrowing.
- The home serves as collateral, meaning the lender can take it if the loan is not repaid.
- Home equity loans provide a lump sum that can be used for major expenses or to pay off higher-interest debts.
- Borrowers can refinance their loans if interest rates decrease in the future.
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