How much will a $150,000 HELOC cost monthly if opened now?

If you're considering opening a home equity line of credit (HELOC) now, it's important to understand the potential monthly costs. As of September 3, 2026, the average HELOC interest rate is 8.09%. Based on this rate, here's a breakdown of the estimated monthly payments for a $150,000 HELOC:

- For a 10-year repayment period, the monthly payment would be $1,827.06.

- For a 15-year repayment period, the monthly payment would be $1,441.08.

These figures assume the interest rate remains constant and that the full $150,000 line of credit is borrowed and repaid. However, it's important to note that the interest rate on a HELOC is a variable rate, meaning it can change monthly. This can make repayment calculations difficult as rates could potentially increase in the future.

To give some context, the interest rates were lower in October 2025, when they were 7.89%. In that case, the monthly payments would have been:

- For a 10-year repayment period, $1,811.21 per month.

- For a 15-year repayment period, $1,423.97 per month.

Conversely, in July 2025, when interest rates were higher at 8.27%, the monthly payments would have been:

- For a 10-year repayment period, $1,841.38 per month.

- For a 15-year repayment period, $1,456.96 per month.

Given these figures, homeowners can expect their monthly payments to fluctuate based on the prevailing interest rates. It's crucial to budget carefully, taking into account the potential for changing rates and payments over the lifetime of the repayment period. Despite this variability, a HELOC could still be an affordable and advantageous way to borrow money, especially for those who need to borrow $150,000 or more.