HELOC and home equity loan rates today, February 6, 2026: Intro rates as low as 1.99%

2. Personal Finance
3. /
4. Mortgages

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.

Rates for second mortgages, such as home equity loans and lines of credit, are as low as they've been in years. HELOC introductory rates, the "teaser" rates that are well below market, are also surprisingly low. One Baltimore-area credit union, APGFCU, is offering a 1.99% APR intro rate for one year.

• Find out how HELOC and home equity loan interest rates work and what you can expect to pay.

HELOC and home equity loan rates: Friday, February 13, 2026

According to real estate analytics firm Curinos, the average HELOC rate is 7.23%, down two basis points from one month ago. The national average rate on a home equity loan is 7.44%, down 12 basis points from last month. Rates are based on applicants with a minimum credit score of 780 and a maximum combined loan-to-value ratio (CLTV) of less than 70%.

With mortgage rates remaining in the low-6% range, homeowners are unlikely to let go of their primary mortgage anytime soon, so selling a house may not be an option. A cash-out refinance might not be workable either. Why give up your 5%, 4% — or even 3% mortgage?

Accessing some of that value with a use-it-as-you-need-it HELOC or lump-sum home equity loan can be an excellent alternative.

• MORE: Here are our picks for the best HELOC lenders.

How lenders determine HELOC and HEL interest rates

Home equity interest rates are calculated differently from mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which is 6.75%. If a lender added 0.75% as a margin, the HELOC would have a variable rate of 7.50%.

A home equity loan may have a different margin, because it is a fixed-interest product.

Lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. Shop a few lenders to find your best interest rate offer.

• Learn about how fixed-rate HELOCs work.

Look for low introductory HELOC rate offers

Today, FourLeaf Credit Union is offering a HELOC APR (annual percentage rate) of 5.99% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate in one year.

When shopping for lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity.

The best home equity loan lenders may be easier to find, because the fixed rate you earn will last the length of the repayment period. That means just one rate to focus on. And you're getting a lump sum, so no draw minimums to consider.

HELOC and home equity loan rates today: FAQs

What is a good interest rate on a HELOC right now?

Rates vary significantly from one lender to the next. You may see rates from 6% to as much as 18%. It really depends on your creditworthiness and how diligent you are as a shopper. Currently, the national average for a HELOC is 7.23%, and for a home equity loan it's 7.44%.

Is it a good idea to get a HELOC or a home equity loan right now?

Interest rates fell for most of 2025. They are expected to remain steady through the first half on 2026. So yes, it's a good time to get a second mortgage. And with a HELOC or a HEL, you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Or just about anything else.

What is the monthly payment on a $50,000 home equity line of credit?

If you withdraw the full $50,000 from a line of credit on your home and pay a 7.50% interest rate, your monthly payment during the 10-year draw period would be about $313. That sounds good, but remember that the rate is usually variable, so it changes periodically, and your payments will increase during the 20-year repayment period. A HELOC essentially becomes a 30-year loan. HELOCs are best if you borrow and repay the balance within a much shorter period of time.

Read More

Is now a good time to take out a HELOC?

It can be a good time to get a HELOC, especially if you don’t want to lose the low rate on your first mortgage. Learn how the housing market could affect your decision.

How to use a HELOC to pay off debt (and when it makes sense)

If you’re burdened by loan payments, using a HELOC to pay off debt could save you big in interest. But it’s not for everyone. See if this option is for you.

How to get a HELOC when you have a bad credit score

Learn how to get a HELOC with bad credit. If you have a lot of home equity or a low debt-to-income ratio, lenders may still accept your application.

HELOC vs. personal loan: Which should you choose?

HELOCs and personal loans are two strong financing options for home improvements or other large expenses. Learn which is the better fit for your situation.

Can you use a HELOC for a down payment?

Using a HELOC for a down payment on a second home has its advantages and disadvantages. Learn how it works, who’s eligible, and when it makes sense.

What can you use a HELOC for? 7 common ways homeowners use the funds.

You can use money from a HELOC for pretty much anything. Learn about the top reasons to take out a HELOC and how to pay for something using a HELOC balance.