National average home equity borrowing rates were unchanged from the prior day as of Aug. 25, 2026, according to data from the Mortgage Research Center reviewed by Fortune. The average rate was 8.136% for a 10-year home equity loan, 8.665% for a 15-year loan and 8.240% for a HELOC (home equity line of credit, a reusable borrowing facility secured by a home). Home equity loans provide a lump-sum payment and fixed monthly repayments, while HELOCs allow borrowers to draw funds repeatedly during a draw period of up to 10 years before entering repayment. Rates are national averages based on an owner-occupied, single-family home with an 80% loan-to-value ratio, a $350,000 loan ($850,000 for non-conforming loans), a 30- to 60-day rate lock and FICO scores of 620 or higher. Individual pricing depends on credit, available equity, debt-to-income ratio, loan size and term, and property type. Borrowers with negative equity or those using a second home or investment property should expect higher rates. Home equity borrowing may offer lower rates and larger borrowing limits than unsecured personal loans, but the home serves as collateral. Missed payments can lead to foreclosure, a damaged credit record and a remaining balance if a sale does not cover the debt. Closing costs, including origination fees, credit checks, appraisals and paperwork, typically total 2% to 5% of the amount borrowed.