Daily HELOC rates on June 28, 2024: Rates are steady
Published 3:39 a.m. UTC June 28, 2024
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Home equity line of credit (HELOC) rates are trending about the same across the board. Here are today’s average rates on a $100,000 HELOC based on different loan-to-value ratios:
- 60% LTV ratio: 9.13%
- 80% LTV ratio: 9.30%
- 90% LTV ratio: 10.18%
Today’s HELOC rates
*Data accurate as of June 27, 2024, the latest data available.
Current HELOC rate trends
Here is the average annual percentage rate (APR) for a $100,000 HELOC at different LTV ratios — 60%, 80% and 90%.
HELOC rates: 60% LTV ratio
Today’s average HELOC rate is 9.13% with a 60% LTV ratio, which is about the same as last week at 9.14%, according to data from Curinos. This is about the same as last month's 9.14%.
Before you borrow, compare the best HELOC lenders
HELOC rates: 80% LTV ratio
The HELOC rate today for a borrower with an LTV ratio of 80% sits at 9.30%. This means it fell from 9.32% last week, according to data from Curinos. Last month, the rate was at 9.32%.
HELOC rates: 90% LTV ratio
The average HELOC rate if you have an LTV ratio of 90% is the same as last week at 10.18%, according to data from Curinos. This is up from last month's 10.11%.
Frequently asked questions (FAQs)
Repayment terms for HELOCs typically range from five to 30 years. This generally comprises a draw period of up to 10 years and then up to 20 years to repay what you’ve borrowed.
To get the lowest available rate on a HELOC, you’ll typically need:
- Good to excellent credit.
- Significant equity in your home.
- A low debt-to-income (DTI) ratio.
- Steady income and employment.
Many lenders also offer special perks with HELOCs. For example, you might be able to take advantage of a lower introductory APR or rate discounts. Some lenders also let you convert from a variable-rate to a fixed-rate HELOC.
Estimate how much you can borrow with our HELOC calculator
A HELOC is a revolving line of credit that gives homeowners a flexible way to borrow against the equity they’ve built up in their home. Similar to a credit card, you can repeatedly borrow from your credit line and will only pay back the amount you’ve drawn. You’ll also only pay interest on what you’ve actually borrowed.
HELOCs can be used for almost any purpose, from home improvement projects or debt consolidation to college tuition or emergency expenses.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
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