How much will a $60,000 home equity loan cost monthly if opened this September?
A home equity loan is now one of your cheaper borrowing options. Here's how much a $60,000 loan can cost monthly.
A $60,000 home equity loan could have monthly payments between approximately $578 and $732 in September 2025, according to current rates. This makes it a slightly more expensive option compared to early 2026 but less expensive than in early September 2025. The cost could increase if the Federal Reserve raises interest rates later in September 2025.
Homeowners can secure a lower rate by locking it in now, as rates are expected to rise. The monthly payments for a 10-year loan range from $732 to $578, while a 15-year loan ranges from $576.51 to $578.25. It's advisable for homeowners to compare rates and terms from various lenders before applying for a home equity loan, as waiting could result in higher interest 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.
