How much will a $100,000 home equity loan cost monthly right now?

Millions of Americans are seeking ways to save money and access funds amid surging inflation and elevated interest rates. For homeowners, a significant source of capital lies in their home equity, which has reached record highs.

As of June 25, 2026, the average home equity loan interest rate stands at 6.98%, making it a comparatively affordable borrowing option. Homeowners can typically withdraw up to 80% of their home's equity. Accessing a $100,000 loan is feasible, and unlike credit cards or personal loans, it avoids double-digit interest rates.

Borrowers considering a $100,000 home equity loan can expect specific monthly payments depending on the repayment period. A 10-year loan at 6.98% interest would cost approximately $1,160.05 per month. Opting for a 15-year term reduces the monthly payment to about $897.71.

These current rates represent a notable decrease from the beginning of 2026, when similar loans carried higher interest. For instance, a 10-year loan then cost $1,222.81 monthly at 8.18%, and a 15-year loan was $963.17 at 8.13%. The current affordability allows for precise budgeting, as the fixed interest rate ensures consistent monthly costs.

While home equity borrowing is not without risk, the home serves as collateral, understanding the payment structure is crucial. The fixed rates offer stability, and homeowners retain the option to refinance if interest rates decline in the future. These funds can be used for various major expenses.