How much would a $75,000 HELOC cost per month?
The average HELOC interest rate stands at 9.37% (as of August 21, 2024). While that rate is higher than it was just a few years ago, it's still significantly lower than the average credit card rate (which is approaching 23%) and the average personal loan rate (currently hovering above 12%). So, for homeowners with $75,000 in available equity, a HELOC presents one of the most cost-effective borrowing solutions in the current market..
