How Much Will a $150,000 HELOC Cost Monthly if Opened Now?

Homeowners who open a $150,000 home equity line of credit now could face monthly payments ranging from about $1,441 to $1,827, depending on the repayment period.

The calculations use an average HELOC interest rate of 8.09% as of Sept. 3, 2026, according to Money.com. They assume borrowers draw the entire line and repay it at the same rate. A 10-year repayment period would cost an estimated $1,827.06 per month, while a 15-year period would cost $1,441.08.

HELOC rates are variable and can change each month, making long-term repayment costs difficult to predict. Some lenders require only interest payments during the initial draw period, which can make early payments lower. Borrowers pay only what they draw, rather than the full credit limit approved by the lender.

The article presents a $150,000 HELOC as an alternative to credit cards, home equity loans and personal loans. It notes that the average credit card interest rate is about 22%. For comparison, a 7.89% HELOC rate in October 2025 produced estimated monthly payments of $1,811.21 over 10 years and $1,423 over 15 years.