How much will a $100,000 home equity loan cost per month if opened this September?
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TL;DR
- Homeowners can borrow money using their home equity, which is at a record high.
- Home equity loans have fixed interest rates, offering predictable budgeting.
- The median home equity loan interest rate as of August 24, 2026, is 8.14%.
- A $100,000 home equity loan at 8.14% will cost $1,220.69 per month for a 10-year term and $963.75 for a 15-year term.
- Rates are higher than in spring 2026 but moderately improved from January 2026.
- Borrowers should consider locking in current rates due to the possibility of Federal Reserve interest rate hikes.
- It is recommended to compare rates and terms from various lenders, not just one's current mortgage lender.
- Home equity borrowing carries risks, including potential foreclosure if payments are missed.