Home Equity Loan Rates (July 2026)
📅 Last updated: July 2026 · Source: Bankrate national lender survey
Quick answer: Average home equity loan rates in July 2026 range from 8.12% (5-year) to 8.25% (10-year) for well-qualified borrowers. Your actual APR depends on credit score, CLTV, loan amount, and lender.
Home equity loans use fixed rates — your payment stays the same for the life of the loan. That differs from most HELOCs, which typically have variable rates tied to the prime rate. If you want payment certainty, HEL rates are worth comparing side by side with HELOC pricing.
Current average rates by term
Based on Bankrate's weekly survey of the nation's largest lenders ($30,000 minimum loan, FICO 700, CLTV 80%):
| Loan term | Average rate | Typical range | Payment per $10,000 borrowed |
|---|---|---|---|
| 5-year | 8.12% | 5.65% – 10.25% | ~$203/mo |
| 10-year | 8.25% | 6.01% – 10.50% | ~$122/mo |
| 15-year | 8.20% | 6.15% – 10.75% | ~$97/mo |
*Rates illustrative for July 2026; lenders update weekly. See Bankrate for live data.
What affects your rate
| Credit score | What it usually means for HEL rates |
|---|---|
| 700+ | Best-tier pricing on national surveys |
| 660–699 | Approved at rates above prime averages |
| 620–659 | Higher APR; stricter equity limits |
| Below 620 | Limited options — see bad credit guide |
Other factors: combined loan-to-value (CLTV), loan size, property type, debt-to-income ratio, and whether you pay discount points. Borrowing closer to the 80% CLTV cap often costs more than staying at 70% CLTV.
HEL vs HELOC rates
- Home equity loan: Fixed rate for the full term; predictable payments.
- HELOC: Variable rate on drawn balance; initial teaser rates may rise when the Fed moves.
- When HEL wins: You know the exact amount you need and want a locked payment.
- When HELOC wins: Ongoing projects where you draw funds over time.
Compare both products in our HEL vs HELOC table on the main guide.