HELOC Rates Today (May 2026) | Compare Home Equity Line of Credit Rates | State Loan Rates
HELOC Rates Today — All 50 States
Current home equity line of credit (HELOC) rates sourced from Curinos, the industry-standard rate analytics provider. National average: 7.21% APR. Rates are based on applicants with a 780+ credit score and a maximum combined loan-to-value (CLTV) of 70%. Updated monthly.
7.21%HELOC (variable)National avg · Curinos
7.36%Home Equity LoanNational avg · Curinos
6.75%Prime RateCurrent Fed prime rate
+0.46%Avg HELOC MarginAbove prime rate
7.19%2026 HELOC LowMid-March 2026
Rate source: HELOC and home equity loan rates are sourced from Curinos, a real estate analytics firm that surveys lenders nationally. Rates assume a 780+ credit score and CLTV of 70% or less. Actual rates vary by lender, credit score, and how much equity you have. Always compare at least 3–5 lenders.
HELOC Rates by State
HELOC rates vary modestly by state due to differences in lender competition, state regulations, and local market conditions. Click any state for full mortgage and loan rate details.
Rates below are approximate ranges based on credit score. Your actual rate depends on your lender, equity level, credit score, and debt-to-income ratio.
Credit Score
Typical HELOC Rate
Home Equity Loan Rate
Notes
780+
6.75–7.25%
6.90–7.40%
Best rates available
740–779
7.25–7.75%
7.40–7.90%
Strong qualification
700–739
7.75–8.50%
7.90–8.60%
Good rates available
660–699
8.50–10.00%
8.60–10.00%
Rates rise significantly
Below 660
10.00–18.00%
10.00%+
Limited lender options
HELOC vs Home Equity Loan — Key Differences
Both products let you borrow against your home equity, but they work very differently. Understanding the difference is essential before applying.
Feature
HELOC
Home Equity Loan
Interest rate
Variable (Prime + margin)
Fixed for life of loan
Disbursement
Draw as needed (revolving line)
Lump sum at closing
Draw period
Typically 10 years
N/A — fully disbursed at close
Repayment period
Typically 20 years after draw
5–30 years (set at closing)
Monthly payment
Interest-only during draw period
Fixed principal + interest
Best for
Ongoing projects, emergency fund
One-time large expenses
Rate risk
Rate can rise with prime rate
No rate risk (fixed)
How HELOC Rates Are Determined
Unlike primary mortgage rates which follow the 10-year Treasury yield, HELOC rates are tied to the prime rate — the benchmark rate banks charge their best customers, currently at 6.75%. Most lenders set HELOC rates at Prime plus a margin, typically 0.25%–1.0%. So if prime is 6.75% and your lender charges Prime + 0.50%, your HELOC rate would be 7.25%.
When the Federal Reserve raises or lowers the federal funds rate, the prime rate moves with it — which directly affects your variable HELOC rate. If the Fed cuts rates by 0.50%, your HELOC rate drops by roughly the same amount within one to two billing cycles.
How Much Can You Borrow with a HELOC?
Most lenders allow you to borrow up to 80–90% of your home’s value minus what you owe on your mortgage. The formula is: (Home Value × Max CLTV%) − Mortgage Balance = Maximum HELOC Line. For example: a $500,000 home with an $280,000 mortgage balance at 85% CLTV gives you a maximum HELOC line of $145,000 ($500,000 × 85% = $425,000 − $280,000 = $145,000). Use our calculator below to find your number.
HELOC Calculator — How Much Can You Borrow?
Your equity
$
$
%
Most lenders: 80–90%
%
$
Max HELOC line
—
Based on your equity & CLTV
Interest-only payment
—
During draw period (on full amount)
Annual interest cost
—
On requested borrow amount
Available equity
—
Current home equity
Home value—
Mortgage balance—
Current equity—
Max CLTV borrowing limit—
Less mortgage balance—
Maximum HELOC line—
Frequently Asked Questions
What is a HELOC?
📚 HELOC stands for Home Equity Line of Credit. It is a revolving line of credit secured by your home, similar to a credit card but with a much lower interest rate. You can borrow, repay, and borrow again up to your credit limit during the “draw period” (typically 10 years). After the draw period ends, you enter the “repayment period” (typically 20 years) where you pay down the balance. HELOC rates are variable — they change with the prime rate.
What is a Home Equity Loan (HEL)?
📚 HEL stands for Home Equity Loan. It is a fixed-rate, lump-sum second mortgage secured by your home equity. Unlike a HELOC, you receive all the money at once and repay it in fixed monthly installments over 5–30 years. Because the rate is fixed, your payment never changes regardless of Fed rate moves. Also called a “second mortgage” or “home equity installment loan.”
A home equity loan is better when you need a specific amount for a one-time purpose (home renovation, debt consolidation) and want payment certainty. A HELOC is better for ongoing or uncertain expenses where you want flexibility.
What is today’s HELOC rate?
As of May 2026, the national average HELOC rate is 7.21% APR, according to Curinos. This is based on applicants with a 780+ credit score and a CLTV of 70% or less. Rates range from approximately 6.75% for the best-qualified borrowers to 10%+ for those with lower credit scores or higher CLTV ratios.
What is CLTV and why does it matter?
📚 CLTV stands for Combined Loan-to-Value ratio. It measures the total of all loans secured by your home (first mortgage + HELOC/HEL) divided by your home’s appraised value. For example: $280,000 first mortgage + $50,000 HELOC = $330,000 total debt on a $500,000 home = 66% CLTV. Most lenders cap HELOCs at 80–90% CLTV. Lower CLTV = better rates and easier approval.
Is a HELOC better than a cash-out refinance?
It depends on your existing mortgage rate. If you have a low first mortgage rate (3–5%), a HELOC or home equity loan lets you access equity without replacing your entire first mortgage at today’s higher rates. A cash-out refinance replaces your full mortgage — which could dramatically increase your monthly payment if your current rate is low. With primary mortgage rates around 6.58%, most homeowners with rates below 5% are better served by a second mortgage option.
Are HELOC interest payments tax deductible?
HELOC interest may be tax deductible if the funds are used to buy, build, or substantially improve the home that secures the loan. If you use HELOC funds for other purposes (debt consolidation, vacation, car purchase), the interest is generally not deductible. The Tax Cuts and Jobs Act of 2017 suspended the deduction for non-qualified uses. Consult a tax advisor for your specific situation.
Disclaimer: Rates sourced from Curinos national lender survey. Rates shown are national averages and may not reflect rates available in your area. State Loan Rates is not a lender or broker. Always compare rates from multiple lenders before making decisions. Full disclaimer
