Interest rates on home equity loans and HELOCs tend to price a few basis points (fractions of a percent) above primary mortgage rates due to their subordinate second lien position. Home equity loans and HELOCs are second mortgage products and their rate movements will generally track standard home loans. Read our study to see what average home equity loan interest rates and average heloc rates.You can repay your home equity loan for up to 240 months (20 years) in some circumstances, and you’ll get fixed monthly payments for the life of your loan. The best home equity loan rates and loan terms go to those with loan-to-value ratios of 80% or less, although home equity loans may be available to consumers with LTVs of up to 90%.Those with variable-rate loans, such as credit cards and home equity lines, “should expect to see smaller monthly payments,”.For example, if your home is valued at $100,000 and the lender uses a CLTV ratio of 85% for a home equity loan as compared to 80% for a mortgage refinance, you can tap $5,000 more of your equity with the home equity loan. · The Rate, Terms and Repayment of a Traditional Home Equity loan. discover home equity Loans offers 10, 12, 15, 20 and 30 year home equity loans in amounts from $35,000 to $150,000. The term of your loan dictates whether you have a high or low monthly payment. The longer the loan term, the lower the monthly payment.Access cash from the equity in your home and apply for a Chase home equity. Switch from a variable rate to a fixed rate on all or a portion of your line of credit.. Saving money in order to pay off high-interest credit card balances and loans. · However, the interest on a home equity loan is just one of the costs involved with taking out a home equity loan. Home equity loan fees may be similar or identical to the fees you paid for your original mortgage. You should expect to pay about 2% to 5.Home equity loan rate: As of Jul 17, 2019, the average Home Equity Loan Rate is 6.94%. Reasons to use home equity loans A home equity loan makes sense for a large, upfront expense because it’s.Finance home improvement projects and other expenses with a Home Equity Loan or a Home Equity Line of Credit (HELOC) from PNC. Check our current rates.