Wealthy PotHELOC Rates Today: Prime Is 7.00%, and What 10 Lenders Charge
Almost every HELOC rate is the prime rate plus a margin the lender sets for you. Prime has been 7.00% since September 17, 2026, when the Federal Reserve raised its target range by a quarter point. The HELOC APRs that 10 banks and credit unions publish on their own sites run from about 6.19% to 14.49%, with the best rates going to borrowers with high credit scores who borrow well under their home's value. Fixed-rate home equity loans start at about 7.34%. Below: each lender's published rates and terms, what intro rates turn into, and what a HELOC costs you each month.
The Short Answer
- Prime rate: 7.00% (Federal Reserve H.15, every day from October 13 to 19, 2026). Most HELOCs reset when prime changes.
- Lender HELOC APRs: from 6.19% (M&T Bank, lowest margin) and 6.20% (U.S. Bank) up to 13.85% to 14.49% for weaker credit or higher loan-to-value. The "as low as" rates at Navy Federal, BECU and Alliant start at 7.24% to 7.25%.
- Intro rates of 3.99% to 6.99% last six months to about a year, then the regular variable rate applies.
- Fixed home equity loans: from 7.34% (Navy Federal, 5 years) to about 8% for 10 years at banks.
- Credit unions averaged 7.13% on HELOCs at the end of 2025, against 7.74% at banks (NCUA).
- Cost: on a $50,000 balance, interest-only payments are $302.08 a month at 7.25% and $360.42 at 8.65% (our arithmetic).
How HELOC Rates Are Set
A HELOC's variable rate is an index plus a margin, as the CFPB's HELOC booklet explains. The index is usually the prime rate published in the Wall Street Journal (some lenders use a Treasury rate). The margin is fixed in your agreement and depends on your credit score, how much of your home's value you borrow against (combined loan-to-value, or CLTV), the size of the line and sometimes your other accounts with the lender. If your margin is 0.25 points, your rate today is 7.00% + 0.25% = 7.25%, and it moves with prime for the life of the line.
- The Fed sets the direction. Prime runs 3 points above the top of the Fed's target range. The Fed raised that range to 3.75% to 4.00% at its September 15-16, 2026 meeting, effective September 17, and prime rose from 6.75% to 7.00% the same day. Its next meetings are October 27-28 and December 8-9, 2026.
- A quarter point on a $50,000 balance changes the interest-only payment by about $10.42 a month (our arithmetic).
- Home equity loans have a fixed rate set when you borrow, so later Fed moves don't change them.
HELOC Rates by Lender
| Lender | Variable APR (after any intro) | Intro rate | Terms and fees |
|---|---|---|---|
| M&T Bank | 6.19% to 14.49% (prime minus 0.81 to plus 7.49, as of 9/17/26) | 5.49% for 6 billing cycles in most of its states; 3.99% in Connecticut and New York City | $15,000 to $1,000,000; 10-year draw, 20-year repayment; no application fee, annual fee or closing costs, but third-party fees are repaid if closed within 36 months |
| U.S. Bank | 6.20% to 11.10% (as of 9/17/26) | None listed | Lowest rate: line of $50,000+, 60% LTV, FICO 730+, autopay; no application fee or closing costs; $75 annual fee after year one; cap 18% |
| BECU | 7.24% to 10.09% (as of 10/15/26) | 4.49% to 6.99% for 6 months | Up to $500,000 and 80% of home value; 10-year interest-only draw, 15-year repayment; no annual fee; cap 18% |
| Alliant Credit Union | As low as 7.24% | 4.99% fixed for 6 months (applications through 12/31/26) | 25 states and DC; minimum line $10,000; $50 annual fee after year one; $200 fee if closed within 36 months; cap 16% |
| Navy Federal | As low as 7.25% (8.25% interest-only) | None listed | $10,000 to $500,000; 20-year draw, 20-year repayment; no application, origination or annual fee; rate assumes FICO 750 and 70% CLTV |
| Truist | 7.25% to 13.85% (prime plus 0.25 to 6.85) | 5.49% for 9 months (applications through 11/30/26) | 10-year draw, 20-year repayment; cap 16% to 18% by state |
| PNC | 7.77% to 12.30% (with 0.25 autopay discount) | 5.74% for 6 months on lines of $50,000+ (applications through 10/31/26) | $75 annual fee; origination fee $299 to $599 (none in Texas, waived with a $25,000+ draw on applications through 11/30/26); cap 24% |
| Connexus Credit Union | 8.06% (8.56% interest-only) after the intro | 5.49% locked until October 1, 2027 | 15-year draw, 15-year repayment; no annual fee; borrower pays closing costs of $175 to $2,000; index is a Treasury rate, not prime |
| Chase | 8.37% sample APR (ZIP 43240, $100,000 line, CLTV up to 55%, as of 9/18/26) | None listed | All states except Texas; credit score 680+, up to 80% of home value; cap 18% |
| Bank of America | 8.65% sample APR (California, with 0.725 points of autopay and draw discounts) | 5.74% for 6 months on lines of $100,000+ (applications 9/1 to 12/31/26) | $25,000 to $1,000,000 in most places; no application fee, closing costs or annual fee; $450 fee if closed within 36 months; cap 24% |
Each lender's own HELOC page or rate disclosure, read October 20-21, 2026 (dates in the table are the lenders' own "as of" dates). Low ends are for the best-qualified borrowers. Rates, intro offers and fees vary by state and change often. TD Bank and Figure publish rates through their apps; we could not confirm what their pages show, so they are left out.
Two lenders above set their low end below prime: M&T at prime minus 0.81 and U.S. Bank at 6.20%, both for large lines at low loan-to-value with autopay. Bank of America and Chase publish a single sample rate for one ZIP code, so your quote can be higher or lower.
Home Equity Loan Rates
A home equity loan pays you a lump sum at a fixed rate, repaid in equal monthly payments. Rates are higher than the lowest HELOC rates but don't change.
| Lender | Fixed APR | Details |
|---|---|---|
| Navy Federal | As low as 7.34% (5 years), 7.65% (10), 7.95% (15), 8.35% (20) | Up to $500,000; FICO 750, primary home, 70% CLTV; Navy Federal pays closing costs. Its example: $100,000 at 8.35% for 20 years is $858.35 a month. |
| Connexus Credit Union | 7.81% to 9.66% | As of 10/20/26, CLTV up to 80% with all discounts; its example: $50,000 at 9.49% for 15 years is $521.81 a month. |
| U.S. Bank | 8.05% (10 years, $50,000 to $99,999, LTV 60% or less, autopay) | As of 10/15/26; its example: $50,000 for 120 months at 8.05% is $607.96 a month. |
| PNC | 8.04% to 12.44% (no discount point); 8.11% to 12.22% (with 1 point) | $25,000 to $250,000, 5 to 30 years, CLTV up to 85% on $50,000+. |
Lenders' own home equity loan pages, read October 20-21, 2026. We checked both lender payment examples above with the standard loan formula and got the same figures.
Bank of America doesn't sell a separate home equity loan; instead it lets you lock part of a HELOC balance at a fixed rate. BECU, PNC and Truist offer similar fixed-rate options inside the line, usually at a higher rate than the variable rate.
Intro Rates: What Happens After
An intro rate is a discount for the first months, and the CFPB warns it isn't the rate you'll pay for most of the loan. A hypothetical: you draw $50,000 on a PNC line at the 5.74% intro rate, and your rate after six months would be 7.77% (its lowest standard rate).
- Interest for the first six months: $50,000 x 5.74% / 2 = $1,435.00, against $1,942.50 at 7.77%, a saving of $507.50.
- After six months: interest-only payments rise from about $239.17 to $323.75 a month, and to $395.19 to $438.67 once a 20-year repayment period starts at 7.25% to 8.65% (our arithmetic, standard loan formula).
Intro offers often have conditions: a minimum line size ($50,000 at PNC, $100,000 at Bank of America), an application deadline, and sometimes a minimum draw at closing. Several lenders charge an early-closure fee or make you repay the closing costs they paid if you close the line within 36 months (Alliant, Bank of America, M&T, PNC, Truist), so a HELOC opened only for the intro rate can cost more than it saves.
Credit Unions vs Banks
| Average rate | Credit unions | Banks |
|---|---|---|
| HELOC, 80% loan-to-value | 7.13% | 7.74% |
| Home equity loan, 5 years, 80% | 6.63% | 7.31% |
NCUA, Credit Union and Bank Rates, fourth quarter 2025 (rates as of December 26, 2025, from S&P Global Market Intelligence data). This is the latest quarter NCUA has published; prime was 6.75% then and is 7.00% now, so today's averages are likely somewhat higher.
Credit unions charged about 0.6 to 0.7 points less on both products. Most require membership, which can depend on where you live or work, or on military service for Navy Federal.
HELOC Payment Calculator
Enter your home value, what you owe and the rate a lender quotes you. The calculator shows how much you could borrow, the HELOC payment during and after the draw period, and how it compares with a home equity loan and a cash-out refinance. For the full comparison, see HELOC vs home equity loan vs cash-out refinance.
Fees, Caps and Your Rights
- The APR leaves out fees. Under Regulation Z (12 CFR 1026.40), a HELOC's APR is the interest rate alone, so compare annual fees, origination fees and closing costs separately.
- Every variable-rate HELOC has a maximum rate. Federal rules (12 CFR 1026.30) require the agreement to state one, but don't set a number. The lenders above cap rates at 16% to 24%.
- Common fees: annual fees ($75 at U.S. Bank after year one and at PNC), origination fees, appraisal and closing costs (often paid by the lender), and early-closure fees or cost repayment within 24 to 36 months.
- Your line can be frozen or cut if your home's value drops significantly or your finances change materially, and selling the home generally means paying off the line.
- You can cancel a HELOC on your main home within three business days of opening under federal rescission rules.
- Tax: interest is deductible only if you use the money to buy, build or substantially improve the home (IRS Publication 936).
Your home secures the line, so missing payments can lead to foreclosure. For a smaller amount without putting the house at risk, compare personal loan rates; to decide whether to borrow at all, see is a HELOC a good idea. Homeowners 62 and older can also compare a reverse mortgage.
Sources & Methodology
- Federal Reserve, H.15 Selected Interest Rates (release of October 20, 2026): bank prime loan rate 7.00%.
- Federal Reserve, FOMC statement, September 16, 2026, and the FOMC meeting calendar.
- NCUA, Credit Union and Bank Rates, Q4 2025.
- CFPB, What you should know about home equity lines of credit; 12 CFR 1026.40 and 1026.30.
- Lender pages: M&T Bank, U.S. Bank HELOC and home equity loan, BECU, Alliant, Navy Federal, Truist, PNC, Connexus, Chase, Bank of America.
- IRS Publication 936: deducting home equity interest.
Method notes. We list lenders whose rates we could read on their own pages or in the rate data those pages load, and quote each lender's own as-of date. PNC's special-offers page showed an older range (7.52% to 12.05%) than its HELOC page; we use the HELOC page, which reflects the September prime increase. Interest and payment figures labelled "our arithmetic" are hypothetical, use simple monthly interest for interest-only payments and the standard amortization formula otherwise, and assume a constant rate. We don't receive compensation from any lender on this page.
This page is general information, not financial advice. Rates checked October 20-21, 2026; confirm the current rate and terms with the lender before you apply.
FAQ
What is the HELOC rate today?
Most HELOCs charge the prime rate, 7.00% since September 17, 2026, plus a margin. Lenders' published HELOC APRs run from about 6.19% to 14.49%, and the "as low as" rates at large credit unions start around 7.24% to 7.25%.
Are HELOC rates going up or down?
They follow prime, which follows the Federal Reserve. The Fed raised rates by a quarter point in September 2026, and prime rose to 7.00%. The next Fed decisions are on October 28 and December 9, 2026.
What is a good HELOC rate?
A rate at or below prime plus 0.25 (7.25% today) is near the best published by the lenders we checked, and usually needs a credit score above about 730 to 750 and borrowing well under 80% of your home's value. The average at banks was 7.74% at the end of 2025, when prime was 6.75%.
Are home equity loan rates higher than HELOC rates?
The lowest fixed home equity loan rates (about 7.34% to 8.05%) sit slightly above the lowest HELOC rates, but they are fixed, so they won't rise if the Fed raises rates again.
Is HELOC interest tax-deductible?
Only if you use the money to buy, build or substantially improve the home that secures it, within the mortgage debt limits in IRS Publication 936.
