National average rates for home equity borrowing were mixed on Aug. 24, 2026, with 10-year home equity loans at 8.136%, 15-year loans at 8.665% and home equity lines of credit (HELOCs) at 8.240%, according to the latest Mortgage Research Center data reviewed by Fortune. The prior-day rates were 8.275%, 8.440% and 8.311%, respectively. The averages assume an owner-occupied, single-family home, an 80% loan-to-value ratio, a $350,000 loan—or $850,000 for non-conforming loans—a 30- to 60-day rate lock and a FICO score of at least 620. Actual pricing depends on the borrower’s credit profile, available equity, debt-to-income ratio, loan amount, term and property type. Rates may be higher for borrowers whose homes are worth less than their outstanding debt or who borrow against second homes or investment properties. A home equity loan provides a one-time lump sum repaid through fixed monthly installments, sometimes over as many as 30 years. A HELOC is a reusable credit line that allows repeated borrowing and repayment, with interest charged only on the amount used. It typically has a draw period of up to 10 years followed by a repayment period during which further borrowing is unavailable. These products may offer lower rates and larger borrowing amounts than unsecured personal loans, but the home serves as collateral. Failure to repay can lead to foreclosure, the loss of the property, lasting credit damage and a remaining balance if the sale does not cover the debt. Closing costs may total 2% to 5% of the loan amount. Homeowners can typically access equity after building at least 15% to 20% equity, depending on the lender, and usually need solid credit, manageable DTI, steady income and more than 15% to 20% equity.