How much will a $150,000 HELOC cost monthly if opened now?
Summary
A home equity line of credit (HELOC) lets homeowners borrow using their home’s value as collateral, similar to a credit card. As of September 2026, the average HELOC interest rate is about 8.09%, and a $150,000 HELOC would cost between $1,441 and $1,827 per month depending on repayment length and changing rates.Key Facts
- A HELOC allows borrowing against home equity for repairs, debt payoff, or major expenses.
- You only repay the amount you borrow, not the total credit approved.
- Interest rates on HELOCs are variable and can change monthly.
- Average HELOC interest rate is 8.09% as of September 2026.
- Monthly payments on a $150,000 HELOC range from $1,441 (15 years) to $1,827 (10 years) if rates stay the same.
- HELOC monthly costs were lower in fall 2025 and higher in summer 2025 due to rate changes.
- Borrowers should budget for rate changes over time to avoid payment surprises.
- HELOC rates are generally lower than home equity loans, personal loans, or credit cards at this time.
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