Current home equity line of credit (HELOC) rates for August 2026

Bankrate’s National Average survey incorporates rate information from the 10 largest banks and thrifts in 10 large U.S. markets. Rates are calculated using a loan or credit line amount of $30,000, with a FICO score of 700 and a combined loan-to-value ratio of 80 percent for primary single-family detached homes. 

Learn more: Understanding Bankrate’s rate averages

Bankrate’s National Average survey incorporates rate information from the 10 largest banks and thrifts in 10 large U.S. markets. Rates are calculated using a loan or credit line amount of $30,000, with a FICO score of 700 and a combined loan-to-value ratio of 80 percent for primary single-family detached homes. 

Learn more: Understanding Bankrate’s rate averages

To identify the home equity line of credit lenders with the best rates, Bankrate surveyed 50 home equity lenders nationwide and scored each based on its self-reported data and research by Bankrate staff. We assigned scores based on a lender’s affordability, availability and borrower experience, giving equal weight to each category. 

The lenders that appear on this list have a Bankrate score of either a 4 or a 5 for affordability and publish sample rates on their websites. The lender’s lowest available sample rate for a home equity line of credit, including special or introductory rates (provided the standard rate is also lower than Bankrate’s average), is used to determine eligibility. This list includes up to the ten lowest rates within our survey that fall below Bankrate’s published average for home equity lines of credit. If a lender’s rate increases above Bankrate’s published average, the lender will be removed from the list. 

To receive a top score from Bankrate, lenders must offer a standard rate lower than Bankrate’s tracked average, and if the lender offers HELOCs, they generally also offer a competitive introductory rate. In addition, lenders are usually licensed in more than 30 U.S. states, offer both HELOCs and home equity loans, provide at least one product for borrowers with credit scores of 640 or lower and have a loan minimum of $10,000 or less. If the lender offers HELOCs, they typically don’t require a minimum draw. Finally, our top-scoring lenders tend to make it easy for borrowers to compare rates and manage much of the loan process online, and they offer multiple options for customer support. For lenders that offer HELOCs, providing the option to lock the rate on some or all of a HELOC balance is a plus. Bankrate’s evaluations are independent and are not influenced by lender partnerships or advertising relationships. Read more about how Bankrate scores are determined here.

To identify the home equity line of credit lenders with the best rates, Bankrate surveyed 50 home equity lenders nationwide and scored each based on its self-reported data and research by Bankrate staff. We assigned scores based on a lender’s affordability, availability and borrower experience, giving equal weight to each category. 

The lenders that appear on this list have a Bankrate score of either a 4 or a 5 for affordability and publish sample rates on their websites. The lender’s lowest available sample rate for a home equity line of credit, including special or introductory rates (provided the standard rate is also lower than Bankrate’s average), is used to determine eligibility. This list includes up to the ten lowest rates within our survey that fall below Bankrate’s published average for home equity lines of credit. If a lender’s rate increases above Bankrate’s published average, the lender will be removed from the list. 

To receive a top score from Bankrate, lenders must offer a standard rate lower than Bankrate’s tracked average, and if the lender offers HELOCs, they generally also offer a competitive introductory rate. In addition, lenders are usually licensed in more than 30 U.S. states, offer both HELOCs and home equity loans, provide at least one product for borrowers with credit scores of 640 or lower and have a loan minimum of $10,000 or less. If the lender offers HELOCs, they typically don’t require a minimum draw. Finally, our top-scoring lenders tend to make it easy for borrowers to compare rates and manage much of the loan process online, and they offer multiple options for customer support. For lenders that offer HELOCs, providing the option to lock the rate on some or all of a HELOC balance is a plus. Bankrate’s evaluations are independent and are not influenced by lender partnerships or advertising relationships. Read more about how Bankrate scores are determined here.

A HELOC, or home equity line of credit, works like a big credit card. You get a revolving line of credit you can borrow from as needed, usually with a variable interest rate, for a set time period. After that, you repay the withdrawn funds, plus interest, over several more years. Your home serves as collateral for the HELOC, and you risk losing it if you miss payments. 

A HELOC, or home equity line of credit, works like a big credit card. You get a revolving line of credit you can borrow from as needed, usually with a variable interest rate, for a set time period. After that, you repay the withdrawn funds, plus interest, over several more years. Your home serves as collateral for the HELOC, and you risk losing it if you miss payments. 

The amount you can borrow depends on how much equity you have in your home. Typically, lenders allow you to borrow up to 80% of your home’s value, minus what you owe on your mortgage. Some lenders go as high as 85% to 90%.

The amount you can borrow depends on how much equity you have in your home. Typically, lenders allow you to borrow up to 80% of your home’s value, minus what you owe on your mortgage. Some lenders go as high as 85% to 90%.

When you’re shopping for a lender, you should consider a variety of factors. Do the lender’s requirements around loan-to-value and credit score fit your financial profile? Do you prefer doing business with a brick-and-mortar lender or an online company? What are the policies concerning prepayment, refinancing and adjusting the credit line limit? You should research the company’s consumer reviews, then compare its rates, terms and fees to find the best overall value. 

When you’re shopping for a lender, you should consider a variety of factors. Do the lender’s requirements around loan-to-value and credit score fit your financial profile? Do you prefer doing business with a brick-and-mortar lender or an online company? What are the policies concerning prepayment, refinancing and adjusting the credit line limit? You should research the company’s consumer reviews, then compare its rates, terms and fees to find the best overall value. 

Like credit cards, HELOCs typically have variable interest rates, meaning the rate you initially receive may rise or fall during your draw and repayment periods. However, some lenders offer fixed-rate HELOCs or allow you to convert all or part of your HELOC from a variable rate into a fixed one, sometimes for an additional fee.

Like credit cards, HELOCs typically have variable interest rates, meaning the rate you initially receive may rise or fall during your draw and repayment periods. However, some lenders offer fixed-rate HELOCs or allow you to convert all or part of your HELOC from a variable rate into a fixed one, sometimes for an additional fee.

Interest paid on a HELOC is tax deductible as long as it’s used to “buy, build or substantially improve the taxpayer’s home that secures the loan,” according to the IRS. However, you can deduct interest only on the first $750,000 of home loan debt (or $375,000 if you’re single or married, filing separately). That is, if you have a $600,000 mortgage and a $300,000 HELOC for home improvements, you could deduct only the interest on the first $750,000 of the $900,000 you borrowed.

If you are using a HELOC for any purpose other than home improvement (such as starting a business or consolidating high-interest debt), you cannot deduct interest under the tax law.

Interest paid on a HELOC is tax deductible as long as it’s used to “buy, build or substantially improve the taxpayer’s home that secures the loan,” according to the IRS. However, you can deduct interest only on the first $750,000 of home loan debt (or $375,000 if you’re single or married, filing separately). That is, if you have a $600,000 mortgage and a $300,000 HELOC for home improvements, you could deduct only the interest on the first $750,000 of the $900,000 you borrowed.

If you are using a HELOC for any purpose other than home improvement (such as starting a business or consolidating high-interest debt), you cannot deduct interest under the tax law.