How much will a $200,000 home equity loan cost per month if opened this September?
Thinking of taking out a $200,000 home equity loan this September? Here's what the monthly payments could look like.
The cost of a $200,000 home equity loan can vary depending on interest rates and repayment periods. As of September 8, 2026, the average interest rate for such a loan is 8.14%. Using this rate, the monthly payments would be approximately $2,441.37 for a 10-year loan or $1,927.50 for a 15-year loan. However, rates have fluctuated over time; for instance, in November 2025, they were slightly higher at 8.20% for a 10-year loan, resulting in a monthly payment of $2,447.74.
In September 2025, rates were even higher at 8.34% for a 10-year loan, leading to a payment of $2,462.63. Despite these fluctuations, today's rates and costs are still better than at several points over the past year. It's advisable to compare offers from different lenders before committing to a loan, as there may be better rates and terms available elsewhere.
It's also worth noting that while lowering your credit score might increase your loan cost, improving your credit before seeking a home equity loan could help secure a more favorable rate.
Written by urgent.news from CBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
