Washington Home Equity Line of Credit
Average Rate: 10.02%
Lender | APR (%)? | Min. Initial Draw Amount |
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Figure Home Equity Line Equal Housing Lender / NMLS ID: 1717824 |
HELOC approval in 5 minutes, funding in 5 days. Borrow up to $400k online. |
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AmeriSave Mortgage Corporation / NMLS ID: 1168 |
Home Equity Lines, Refinance, & Second Mortgages |
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Renovation Finance LLC DBA Renofi / NMLS ID: 1802847 |
Renovation-specific home equity loans based on the AFTER renovation value |
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HAPO Community Credit Union
Updated 2024-04-22 / NMLS ID: 477622 See Table |
9.500 %
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$0 |
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Gesa Credit Union
Updated 2024-04-22 / NMLS ID: 402395 See Table |
9.500 %
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$0 |
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HSBC
Updated 2024-04-22 / NMLS ID: 399799 See Table |
Intro APR 6.990 %
After Intro: 9.850 % Intro Period: 12 months |
$25,000 |
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Alaska USA Federal Credit Union
Updated 2024-04-22 / NMLS ID: 409001 See Table |
9.500 %
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$0 |
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Spokane Teachers Credit Union
Updated 2024-04-22 / NMLS ID: 616947 See Table |
9.240 %
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$0 |
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Harborstone Credit Union
Updated 2024-04-22 / NMLS ID: 401533 See Table |
8.500 %
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$0 |
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First Tech FCU
Updated 2024-04-22 / NMLS ID: 732452 See Table |
9.000 %
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$0 |
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KeyBank - Syracuse
Updated 2024-04-22 / NMLS ID: 399797 See Table |
11.750 %
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$0 |
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Sound Credit Union
Updated 2024-04-22 / NMLS ID: 691150 See Table |
8.500 %
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$0 |
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Heritage Bank
Updated 2024-04-22 / NMLS ID: 541567 See Table |
9.490 %
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$0 |
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Banner Bank
Updated 2024-04-22 / NMLS ID: 439266 See Table |
Intro APR 7.490 %
After Intro: 9.490 % Intro Period: 12 months |
$0 |
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Verity Credit Union
Updated 2024-04-22 / NMLS ID: 456945 See Table |
10.000 %
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$0 |
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Navy FCU
Updated 2024-04-22 / NMLS ID: 399807 See Table |
8.750 %
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$0 | |
Washington Trust Bank
Updated 2024-04-22 / NMLS ID: 728368 See Table |
9.000 %
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$0 |
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BECU
Updated 2024-04-22 / NMLS ID: 490518 See Table |
Intro APR 4.990 %
After Intro: 8.740 % Intro Period: 6 months |
$0 |
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America's Credit Union
Updated 2024-04-22 / NMLS ID: 449181 See Table |
7.500 %
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$0 |
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HomeStreet Bank
Updated 2024-04-22 / NMLS ID: 417396 See Table |
8.750 %
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$0 |
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Coastal Community Bank
Updated 2024-04-22 / NMLS ID: 462289 See Table |
9.000 %
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$0 |
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Washington State Employees Credit Union
Updated 2024-04-22 / NMLS ID: 205503 See Table |
8.240 %
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$0 |
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Horizon Credit Union
Updated 2024-04-22 / NMLS ID: 407890 See Table |
Intro APR 4.990 %
After Intro: 9.250 % Intro Period: 6 months |
$0 |
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Bank of America
Updated 2024-04-22 / NMLS ID: 399802 See Table |
Intro APR 6.990 %
After Intro: 9.560 % Intro Period: 6 months |
$100,000 |
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Columbia Credit Union
Updated 2024-04-22 / NMLS ID: 411401 See Table |
Intro APR 6.240 %
After Intro: 9.250 % Intro Period: 6 months |
$0 |
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Umpqua Bank
Updated 2024-04-22 / NMLS ID: 401867 See Table |
9.500 %
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$0 |
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Peoples Bank
Updated 2024-04-22 / NMLS ID: 609372 See Table |
10.500 %
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$0 |
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details. |
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Cathay Bank Updated 04/01/2020 See Table |
4.250 % | Varies | |
Armed Forces Bank, National Association Updated 01/17/2020 See Table |
4.740 % | Varies | |
First Fed Bank Updated 02/23/2024 See Table |
5.250 % | Varies | |
Onpoint Community Credit Union Updated 09/13/2019 Restrictions See Table |
5.250 % | Varies | |
Olympia Federal Savings And Loan Association Updated 08/23/2019 See Table |
5.630 % | Varies | |
Navy Federal Credit Union Credit Union Updated 01/30/2023 Restrictions See Table |
5.750 % | Varies | |
Bank Of The West Updated 08/07/2019 See Table |
6.040 % | Varies | |
Bank Of America, National Association Updated 04/21/2023 See Table |
6.490 % | Varies | |
Peoples Bank Updated 01/23/2023 See Table |
7.000 % | Varies | |
Washington Federal Bank Updated 04/19/2024 See Table |
7.625 % | Varies | |
Kitsap Bank Updated 04/19/2024 See Table |
7.750 % | Varies | |
Yakima Federal Savings And Loan Association Updated 12/15/2023 See Table |
8.000 % | Varies | |
U.s. Bank National Association Updated 05/07/2023 See Table |
8.650 % | Varies | |
Data provided by BestCashCow |
APR (Annual Percentage Rate) is the rate that incorporates monthly compounding charges to express the a finance charges as an annual rate.
1 Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.
The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. Compensation is higher for Featured placements. This table does not include all companies or all available products.
Rates from this table are based on loan amount of $100,000 and a variety of factors including credit score and loan to value ratios. Rates may change at any time and are not guaranteed to be correct. For specific requirements please check with the lender.
Home Equity Line of Credit (HELOC) Rates
Home equity lines of credit (HELOCs) are loans secured against the equity in your home, They are typically less costly and more flexible than home equity loans. Since they are lines of credit, the borrower only draws the amount that they need and only pays interest on that amount. The amortization schedule ordinarily does not require payback of the principal drawn until year 10 (HELOCs are, therefore, technically “interest only” loans until that time).
HELOC lenders will lend up to 90% the value of the equity in your home and the typical HELOC line is from $200,000 up to $500,000.
How to Find the Best HELOC Rate
As you see in the table above, the pricing of a home equity line of credit varies from lender to lender. HELOC rates are based on the prime lending rate (“prime”) - the rate that commercial banks charge their most creditworthy customers. Most lenders add on a margin above the prime rate. The average HELOC rate is 10.02%.
Risk to HELOCs
HELOC rates fluctuate. Repayment terms are tied to the prime lending rate and that rate is likely to move up – perhaps dramatically - over the next few years as the Federal Reserve raises the Fed Funds rate. A 10-year home equity loan or a 15-year home equity loan, however, may be a safer option at this time. Depending on your personal circumstances, you should also consider mortgage refinance options.