HELOC Rates: Tap Home Equity Without Refinancing
Update: 2025-12-18
Description
Discover the appeal of Home Equity Line of Credit (HELOC) rates, currently averaging around 7.44%, ideal for homeowners with excellent credit and substantial equity. With $36 trillion in home equity, many are tapping into this value through HELOCs, avoiding mortgage refinancing. HELOC rates, based on index rates plus a lender-set margin, offer flexibility but require shopping around for the best deals. Introductory rates can be enticing, but long-term adjustable rates matter too. HELOCs allow borrowing as needed, interest-only on used amounts, making them a versatile tool for home improvements, debt consolidation, or other expenses while maintaining low-interest primary mortgages.
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