Source link : https://las-vegas-news.com/heloc-rates-approach-7-what-a-100000-line-costs-monthly-today/
Rates Reach Lowest Levels in Years (Image Credits: Unsplash)
Home equity lines of credit provide homeowners with versatile access to funds as average rates slide toward 7%.[1][2]
Rates Reach Lowest Levels in Years
The national average HELOC interest rate dropped to 7.31% as of February 4, 2026, marking a significant decline from recent highs.[1] Lenders surveyed by Bankrate reported this figure after rates held steady or edged lower following Federal Reserve decisions.[1] This level represents the lowest since December 2022 and reflects broader trends in variable lending tied to the prime rate.
Competitive offers from select lenders dipped even further, with some advertising rates around 6.20% to 6.39% for qualified borrowers.[3][4] Homeowners benefited from these shifts, as declining rates made tapping home equity more affordable compared to credit cards or personal loans.
Monthly Payments on a $100,000 HELOC
Borrowers drawing the full $100,000 on a HELOC face payments that depend on the repayment structure and current rates. During the typical 10-year draw period, many plans allow interest-only payments, but full amortization kicks in afterward.
Recent calculations illustrate the costs at today’s average 7.31% rate:
| Repayment Term | Monthly Payment (Principal + Interest) |
|---|---|
| 10 years | $1,177.12 |
| 15 years | $916.25 |
These figures assume fixed repayment phases post-draw and exclude fees or taxes.[2] Interest-only options would lower initial outlays to roughly $609…
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Author : Matthias Binder
Publish date : 2026-02-05 19:49:00
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