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Current equity loan interest rates

Bank checking or saving account. Advertiser Disclosure. Because home equity loans typically require appraisals, it can take longer to get a home equity loan than a personal loan. The lender determines the interest rate for a home equity loan based on several factors, such as: The amount of the loan The borrower's credit score, credit history, debt-to-income DTI ratio and income Loan-to-value LTV ratio , or how much the borrower owes on the home compared to the home's value The rates featured here allow you to compare home equity lenders and see national averages so that you can make the best, most informed decision. The length of your loan term can also affect the interest rate you'll pay.

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Available Nationwide All states except Iowa and Maryland. Bank personal checking account is required to receive the lowest rate, but is not required for loan approval. Additionally, our content is thoroughly reported and vigorously edited to ensure accuracy. Alternatives to a home equity loan A home equity loan is not the right choice for every borrower. You can choose one of two draw period options: interest-only payments or a combination of interest and principal payments.