Average Interest Rates: Home Equity Loans & HELOCs in 2019

By clicking "See Rates" you'll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness you may be matched with up to five different lenders.

5.76%

Average Home Equity Rate

The average rate for a 15-year fixed-rate home equity loan is currently 5.76%. The average rate for a variable-rate home equity line of credit (HELOC) is 5.51%. These rates are not APRs and do not factor in any closing costs or fees.

Current Home Equity Rates Across America

Home equity products, sometimes referred to as second mortgages, are loans that use the money you've put toward your home as collateral. There are two types: fixed-rate home equity loans and variable-rate home equity lines of credit (HELOCs).

Average Home Equity Rates Today

The average rates and ranges below assume a $25,000 home equity loan or HELOC on a property with a loan-to-value (LTV) ratio of 80%.

Loan typeAverage rateRange
15-year fixed5.76%3.25%-9.50%
10-year fixed5.50%2.99%-11.00%
5-year fixed5.09%2.75%-11.00%
HELOC5.51%3.50%-13.25%
HELOC rates assume interest rate during initiation of credit line, after which rates can change based on market conditions

The rates on both home equity loans and HELOCs will be based on your credit score; the amount of debt you have compared to your income, called the debt-to-income ratio; and your loan-to-value ratio, which is your existing ownership stake in your home.

Having a lower LTV ratio or higher credit score may lead to more favorable terms, while a higher DTI ratio might warrant a higher rate or preclude you from obtaining home equity financing altogether.

Home equity financing typically represents a "second-lien" mortgage, meaning in the event of a foreclosure, the home equity lender is second in line to get repaid after the lender on your primary mortgage. Lenders will therefore typically charge higher interest rates on home equity loans and HELOCs than on comparable first-lien mortgages.

When used for eligible home improvement and renovation expenses, borrowers should note that the interest paid on both home equity loans and HELOCs may be tax-deductible. This is a departure from previous years where borrowers were allowed to deduct the interest paid on all home equity debt up to $100,000, irrespective of purpose.

If you're interested in seeing how the home equity rates above compare to primary mortgage rates across the United States, check out our study on average mortgage rates.

Get Multiple Home Equity Offers at Once
Get Multiple Home Equity Offers at Once
LendingTree can help you find and compare home equity rates, all without affecting your credit.
LendingTree is our ultimate parent company
See Offers

on LendingTree's secure website. NMLS #1136: terms and conditions apply

Powered by
LendingTree is our ultimate parent company

Average 15-Year Home Equity Loan Interest Rates

We track the average interest rate on 15-year fixed rate home equity loans in each state, based on the same assumptions listed in the section above. Typically, 15-year home equity loans offer the longest term available and come with the highest rates.

StateAverage rateRange
Alabama5.88%7.18%-4.85%
Alaska7.2%9.03%-6%
Arizona6.33%8.78%-4.25%
Arkansas5.93%7%-3.25%
California6.07%8.78%-3.25%
Colorado6.13%9.09%-3.87%
Connecticut5.35%8.11%-3.99%
Delaware6.52%8.11%-4.74%
District of Columbia5.87%8.11%-4.99%
Florida6.04%8.07%-4.74%
Georgia6.09%7.56%-4.24%
Guam5.73%6.85%-4.5%
Hawaii6.25%6.85%-5.75%
Idaho6.93%7.9%-5.5%
Illinois6.27%8.25%-4.24%
Indiana6.13%8.75%-3.25%
Iowa5.86%8.25%-4%
Kansas6.36%9.5%-4.5%
Kentucky6.1%7.5%-3.99%
Louisiana6.57%8%-5.24%
Maine5.79%8.11%-4.75%
Maryland5.78%8.11%-4.74%
Massachusetts5.36%8.11%-3.81%
Michigan5.98%7.99%-3.75%
Minnesota5.75%7.99%-4%
Mississippi5.95%7.45%-5%
Missouri6.08%8.5%-4.5%
Montana6.24%8.74%-5%
Nebraska5.95%7.28%-4.43%
Nevada6.66%8.78%-5%
New Hampshire5.61%8.11%-4.54%
New Jersey5.65%8.11%-4.25%
New Mexico6.44%8.87%-4.75%
New York5.69%8.32%-4.15%
North Carolina5.97%8.11%-4.25%
North Dakota5.34%7.19%-4.24%
Northern Mariana Islands4.5%4.5%-4.5%
Ohio6.13%7.99%-4.49%
Oklahoma6.04%7%-4.25%
Oregon6.04%8%-4.74%
Pennsylvania5.51%8.11%-3.25%
Puerto Rico6.11%7.25%-5.25%
Rhode Island5.59%8.11%-4.38%
South Carolina6.32%8.11%-4.24%
South Dakota5.95%8%-4.5%
Tennessee5.82%8%-3.25%
Texas5.85%8%-3.5%
Utah6.29%7.49%-5%
Vermont5.98%8.11%-5.13%
Virginia5.75%8.11%-3.85%
Washington6.07%8%-4.78%
West Virginia6.17%7.75%-5%
Wisconsin6.12%8.15%-4.24%
Wyoming5.71%7.19%-4.74%
Rates assume a loan amount of $25,000 and a loan-to-value ratio of 80%.

The average home equity rate for each state reflects minor differences across the U.S., especially when compared to the national average of 5.76%. The average rate quotes we obtained ranged from 4.5% to 7.2%.

Average 10-Year Home Equity Loan Interest Rates

The average interest rates for a 10-year fixed rate home equity loan in each state are listed in the table below. These use the same assumptions as the sections above. Typically, 10-year home equity loans come with moderate interest rates that strike the balance between the length of your term and your monthly payment.

StateAverage rateRange
Alabama5.89%7.99%-4.91%
Alaska6.98%8.95%-6%
Arizona6.11%8.78%-4.25%
Arkansas5.92%6.99%-3.25%
California5.85%8.78%-3.25%
Colorado5.92%8.74%-4.4%
Connecticut4.91%8.03%-3.5%
Delaware5.93%8.03%-3.99%
District of Columbia5.59%8.03%-4.49%
Federated States of Micronesia4.5%4.5%-4.5%
Florida5.73%8%-3.96%
Georgia5.86%7.43%-4.24%
Guam5.51%6.55%-4.38%
Hawaii6.14%6.56%-5.5%
Idaho5.97%7.25%-3.99%
Illinois5.82%8.13%-4%
Indiana5.82%7.75%-3.25%
Iowa5.46%7.38%-4%
Kansas6.12%8.5%-4.5%
Kentucky5.76%7.75%-3.99%
Louisiana6.11%7.25%-4.63%
Maine5.42%8.03%-3.75%
Maryland5.39%8.03%-3.75%
Massachusetts5.03%8.03%-3.5%
Michigan5.63%7.74%-3.75%
Minnesota5.38%6.99%-3.99%
Mississippi5.88%7.25%-5%
Missouri5.91%8.5%-4.25%
Montana5.57%8.24%-3.49%
Nebraska5.99%8.1%-4.43%
Nevada6.4%8.78%-4.88%
New Hampshire5.22%8.03%-4.24%
New Jersey5.35%8.03%-3.99%
New Mexico6.27%8.66%-4.75%
New York5.41%8.6%-3.9%
North Carolina5.72%8.03%-3.88%
North Dakota5.05%6.99%-4.24%
Northern Mariana Islands4.38%4.38%-4.38%
Ohio5.78%7.75%-3.88%
Oklahoma5.88%8%-3.75%
Oregon5.61%7.74%-4%
Pennsylvania5.12%8.03%-3.25%
Puerto Rico5.78%6.75%-5%
Rhode Island5.22%8.03%-3.91%
South Carolina6.09%8.6%-4.03%
South Dakota6.02%7.5%-4.6%
Tennessee5.58%7.5%-2.99%
Texas5.68%11%-3.5%
Utah5.83%7%-4.75%
Vermont5.5%8.03%-4.25%
Virginia5.42%8.03%-3.85%
Washington5.88%7.74%-4.75%
West Virginia5.74%7.75%-3.75%
Wisconsin5.6%8.13%-3.5%
Wyoming5.65%7.25%-4.74%
Rates assume a loan amount of $25,000 and a loan-to-value ratio of 80%.

Average 10-year home equity rates across the United States range from 4.38% to 6.98%. Your interest rate may vary according to your credit profile and LTV ratio.

Average 5-Year Home Equity Loan Interest Rates

Average 5-year home equity loan interest rates are generally lower than rates from comparable home equity loans with 10-year and 15-year terms. While this does mean less in interest charges, borrowers can expect to make higher monthly payments. The term assumptions from the previous segments still apply here.

StateAverage rateRange
Alabama5.6%7.99%-3.88%
Alaska6.87%8.8%-6%
Arizona5.81%8.78%-3.99%
Arkansas5.7%6.99%-3.25%
California5.54%8.78%-3.12%
Colorado5.63%8.5%-3.5%
Connecticut4.34%8.31%-2.75%
Delaware5.54%8.31%-3.49%
District of Columbia5.07%8.31%-3.99%
Federated States of Micronesia4.38%4.38%-4.38%
Florida5.35%8.22%-3.75%
Georgia5.51%6.84%-3.75%
Guam5.28%6.25%-4.25%
Hawaii5.07%6.56%-3%
Idaho5.56%6.99%-3.79%
Illinois5.33%8.41%-2.99%
Indiana5.42%7.13%-3.25%
Iowa5.04%6.77%-3.49%
Kansas5.64%8.25%-3%
Kentucky5.41%7.34%-2.99%
Louisiana5.74%7.23%-3.95%
Maine4.89%8.31%-2.75%
Maryland4.94%8.31%-3.25%
Massachusetts4.58%8.31%-2.75%
Michigan5.25%7.5%-3.5%
Minnesota5.07%7.5%-3.25%
Mississippi5.87%9.75%-3.79%
Missouri5.7%8.25%-3.75%
Montana5.11%7.74%-3.49%
Nebraska5.41%8.5%-3.25%
Nevada6.18%8.78%-4.38%
New Hampshire4.74%8.01%-3.5%
New Jersey4.83%8.31%-3.12%
New Mexico5.63%6.75%-4.75%
New York4.98%8.31%-2.99%
North Carolina5.57%8.31%-3.74%
North Dakota4.78%6.54%-3.25%
Northern Mariana Islands4%4%-4%
Ohio5.41%7.5%-3.74%
Oklahoma5.55%6.81%-3.5%
Oregon5.38%7.3%-4%
Pennsylvania4.58%8.03%-2.75%
Puerto Rico5.18%6%-4.2%
Rhode Island4.77%8.31%-3.38%
South Carolina5.64%8.31%-3.39%
South Dakota5.38%7%-3.5%
Tennessee5.26%7.5%-3.25%
Texas5.32%11%-2.99%
Utah5.53%7%-4.49%
Vermont4.94%8.31%-3.49%
Virginia5.01%8.31%-3%
Washington5.62%7.6%-4%
West Virginia5.22%7.5%-3.25%
Wisconsin5.06%8.41%-3.45%
Wyoming5.33%6.75%-3.74%
Rates assume a loan amount of $25,000 and a loan-to-value ratio of 80%.

Average 5-year home equity rates range from 4% to 6.87% nationally. Paying off $25,000 over five years will require significantly higher monthly payments than paying off the same amount over 15 years. It's best to gauge what you can afford on a monthly basis after accounting for costs of living. Remember to also factor in the monthly payment of your original mortgage if that's still outstanding when you take out a home equity loan.

Average HELOC Rates

Average HELOC interest rates are more volatile than comparable home equity loans due to their variable nature. However, many of them will feature lower rates, at least at the onset of the credit line. The variable interest rate will adjust with the market over time.

StateAverage rateRange
Alabama5.63%8.01%-4.57%
Alaska6.13%8.13%-5.25%
Arizona5.92%9.84%-4.75%
Arkansas6.1%9.7%-4.5%
California5.79%9.39%-3.99%
Colorado5.75%8.92%-4%
Connecticut5.69%9.64%-4.25%
Delaware6.16%9.26%-5%
District of Columbia5.84%9.39%-4.25%
Florida5.61%9.39%-4%
Georgia5.69%9.07%-4.25%
Guam5.88%6.25%-5.5%
Hawaii5.37%6.84%-4.25%
Idaho5.87%8.55%-4.5%
Illinois5.73%9%-4.5%
Indiana5.56%8.05%-4.5%
Iowa5.53%8.32%-3.63%
Kansas5.77%8.5%-4%
Kentucky5.38%8.15%-3.99%
Louisiana5.48%7%-4.5%
Maine5.43%7.49%-3.5%
Maryland5.5%9.39%-4%
Massachusetts5.34%9.82%-4.49%
Michigan5.53%8.79%-3.9%
Minnesota5.64%8.91%-4%
Mississippi5.53%7.75%-5%
Missouri5.65%10.05%-4%
Montana5.71%8%-4%
Nebraska5.69%8%-4.25%
Nevada5.96%9.54%-4.74%
New Hampshire5.83%13.25%-4.63%
New Jersey5.72%9.39%-4.29%
New Mexico6.08%9.66%-5%
New York5.68%9.39%-4.25%
North Carolina5.72%8.86%-4.5%
North Dakota5.68%8%-4.5%
Ohio5.53%7.89%-4%
Oklahoma5.77%10.53%-4.5%
Oregon5.94%9.05%-4.24%
Pennsylvania5.56%9.39%-4.25%
Puerto Rico5.3%6%-4.75%
Rhode Island5.83%8.92%-5%
South Carolina5.81%9.71%-4%
South Dakota6.01%8.01%-4.5%
Tennessee5.64%8.84%-3.75%
Texas5.94%10.03%-4.5%
Utah5.7%7.88%-5%
Vermont5.56%7.75%-4.63%
Virginia5.55%9.39%-4.5%
Washington5.98%9.39%-4.24%
West Virginia5.48%7.89%-4.25%
Wisconsin5.49%7.75%-4%
Wyoming5.82%7.75%-3.95%
Rates assume a loan amount of $25,000 and a loan-to-value ratio of 80%.

The majority of HELOC rates are tied to the prime rate, which means market rates will determine how much a borrower incurs in interest costs over time. While this means that your interest rate might fall, it also means that your interest costs can rise dramatically if you're in a rising interest rate environment.

If you like the flexibility that a HELOC offers, but you're worried about rising rates, some lenders offer fixed-rate HELOCs that allow you to lock in a certain interest rate on your borrowing costs in exchange for a fee. While a standard home equity loan will work in most cases, HELOC borrowers have the benefit of drawing on their funds as needed, instead of having to borrow and repay interest on the entire credit line.

Average Home Equity Rates Over Time

As interest rates continue to rise, the interest rates on home equity loans have generally followed in lockstep with standard fixed-rate mortgage loans, factoring in an added spread due to the increased credit risk that lenders take with home equity products.

YearAverage rate
20185.58%
20175.41%
20165.37%
20155.46%
20145.57%
20135.73%
20126.03%
20116.40%
20106.75%
Rates assume a loan amount of $25,000 and a loan-to-value ratio of 80% for a 15-year Home Equity Loan.

The Federal Reserve continues to raise rates in response to improving economic conditions. While current interest rates reflect an upward trend, they still remain at historically low levels. Mortgage interest rates are indirectly tied to the target rate set by the Federal Reserve and will continue to increase with every rate hike initiated by the Fed's Board of Governors. Homeowners trying to cash out their home equity may wish to do so soon, as borrowing costs will likely increase over time.

Comments and Questions

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Get Multiple Home Equity Offers at Once
LendingTree can help you find and compare home equity rates, all without affecting your credit.
See Offers

on LendingTree's secure website. NMLS #1136: terms and conditions apply

Powered by
LendingTree is our ultimate parent company
Get Multiple Home Equity Offers at Once
Get Multiple Home Equity Offers at Once
LendingTree can help you find and compare home equity rates, all without affecting your credit.
LendingTree is our ultimate parent company
See Offers

on LendingTree's secure website. NMLS #1136: terms and conditions apply

Powered by
LendingTree is our ultimate parent company