How much will a $150,000 home equity loan cost monthly now?
A home equity loan offers an affordable way to borrow $150,000 right now, but it may not remain so for much longer.
A $150,000 home equity loan can cost homeowners between $1,831 and $1,446 each month, depending on the loan term and current interest rates. According to Money.com, the average interest rate for a home equity loan is 8.14% as of September 2, 2026. Borrowing this amount over a 10-year term would result in monthly payments of $1,831.03, while a 15-year term would result in payments of $1,445.63.
If the loan were taken out in November 2025, during a period of lower interest rates, the monthly payments would have been slightly higher at $1,835.80 for a 10-year term and $1,446.50 for a 15-year term. The payments were even higher last September when rates were higher, at $1,846.97 for a 10-year term and $1,451.72 for a 15-year term.
It is important to note that while your current mortgage servicer may offer competitive rates, it is recommended to shop around and compare rates and lenders before making a final decision. Locking in an affordable home equity loan rate now, before potential rate hikes, can help homeowners save money on their monthly payments.
Written by urgent.news from CBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
