Home Equity loan

Turn the equity you've built into a lump sum of cash.

• No registration
• No commitment
• No impact on credit score

Today’s Home Equity loan rates

Get honest numbers upfront — so you can make the right decision on your terms.

• What are current home equity loan rates?

  As of April 2026, the national average fixed rate on a home equity loan is 7.47%, according to real estate analytics firm Curinos. Borrowers with excellent credit (780+) can find rates starting around 6.50%–6.75%, while fair-credit borrowers may see rates near 9–10%. Rates vary by lender, term length, and your CLTV ratio, so comparing multiple lenders is essential.

• How much can I borrow with a home equity loan?

  Most lenders allow you to borrow up to 80–85% of your home’s appraised value, minus your current mortgage balance. For example, if your home is worth $400,000 and you owe $200,000, you may be able to borrow up to $120,000–$140,000, depending on the lender’s CLTV limit. Some lenders allow up to 90% CLTV for well-qualified borrowers.

• Is home equity loan interest tax-deductible?

  It depends on how you use the funds. Per IRS Publication 936, interest is deductible only when the money is used to “buy, build, or substantially improve” the home securing the loan — such as a kitchen remodel or roof replacement. Interest used for debt consolidation, vacations, or personal expenses is not deductible. You must also itemize deductions on Schedule A, and the deduction applies to combined qualified mortgage debt up to $750,000 (married filing jointly).

• What's the difference between a home equity loan and a HELOC?

  A home equity loan gives you a lump sum at a fixed interest rate, with equal monthly payments for a set term. A HELOC (home equity line of credit) works more like a credit card — you draw what you need, when you need it, during a set draw period, and the rate is typically variable. Home equity loans are better for one-time, defined expenses; HELOCs are better for ongoing or unpredictable costs.

• How long does it take to get a home equity loan?

  The process typically takes 2–4 weeks from application to funding. It involves a credit check, income verification, and usually a home appraisal to confirm value. Some lenders offer expedited timelines or appraisal waivers for well-qualified borrowers. Having your financial documents ready — pay stubs, tax returns, and mortgage statement — speeds up the process considerably.