How much will a $100,000 home equity loan cost per month if opened this September?
Summary
A $100,000 home equity loan taken out in September 2026 will have monthly payments between about $964 and $1,221, depending on the loan term and interest rate. Interest rates for home equity loans have risen compared to spring 2026 but are slightly lower than at the start of the year.Key Facts
- Homeowners can borrow money using the value built up in their homes, called home equity.
- As of August 24, 2026, the median interest rate for home equity loans is 8.14%.
- Monthly payments on a $100,000 loan at 8.14% interest are approximately $1,221 for 10 years or $964 for 15 years.
- Compared to April 2026, when rates were 6.96%, monthly payments were lower ($1,159 for 10 years, $897 for 15 years).
- Home equity loans have fixed interest rates, making payments predictable.
- Borrowers must begin repaying the full amount quickly since funds are given in a lump sum.
- There is a risk of losing the home if payments are not made on time, as the home serves as collateral.
- It is wise to shop around for the best loan rates, as rates may rise if the Federal Reserve increases interest rates.
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