From Yahoo Finance: 2025-06-09 06:00:00

HELOC interest rates stabilized today after a significant increase. 28% of Americans are considering a home equity line of credit or loan, with top uses being home renovations, new property investments, and debt consolidation. Zillow reports rates are steady at 6.85% for 10-year HELOCs, while VA-backed HELOCs increased to 6.48%.

With over $34 trillion in home equity, homeowners are exploring HELOC options to access value without refinancing their low-rate mortgages. HELOC rates are typically lower than prime rates, influenced by credit score and credit line value compared to home value. Introductory rates may adjust after six months or a year.

The best HELOC lenders offer low fees, fixed-rate options, and generous credit lines for homeowners to utilize their equity as needed. FourLeaf Credit Union is offering a 6.49% introductory rate on HELOCs up to $500,000 for 12 months. Utilize only what you need, leaving the rest for future use without paying interest.

HELOC rates vary widely depending on creditworthiness and lender, ranging from 7% to 18%. Homeowners with low primary mortgage rates and substantial equity can benefit from accessing cash for home improvements, repairs, or upgrades without sacrificing their favorable mortgage terms. HELOCs are ideal for short-term borrowing and repayment strategies.

Read more: Interest rates on home equity lines of credit are unchanged