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Today's HELOC Rates & Prime Rate Trends
Live data from Bankrate and the Federal Reserve so you can compare where rates stand today—and where they've been. Most HELOC rates are set at Prime plus a lender margin.
Variable Rate
Tied to Prime Rate
5–10 Years
Interest-only available
Up to 90%
Non-QM options available
Available
Self-employed friendly
Current HELOC Rates from Top Lenders
The table below shows today's HELOC rates from Bankrate's national lender database. Rates update in real time and reflect available offers for qualified borrowers.
How HELOC Rates Are Set
Understanding what drives your rate helps you time your application and choose the right product.
The Prime Rate is the baseline
Nearly all HELOC rates are calculated as Prime Rate plus a lender margin. When the Fed moves rates, your HELOC rate typically follows within days.
Lender margin varies
The spread above Prime depends on your credit score, combined LTV, and the lender. Typical margins range from 0% to 3%+ above Prime.
Variable vs. fixed-rate options
Most HELOCs are variable. Some lenders offer rate lock features to convert a portion of your balance to a fixed rate during the draw period.
Draw period vs. repayment period
During the draw period (typically 5–10 years), you pay interest only on what you've borrowed. The repayment period adds principal and usually runs 10–20 years.
CLTV determines your limit
Your combined loan-to-value ratio—first mortgage plus HELOC—caps how much you can access. Most lenders stop at 80–90% CLTV.
Non-QM HELOCs use different criteria
Truss Financial Group's no-tax-return and no-appraisal HELOC programs are priced on asset strength and equity, not W-2 income documentation.
Prime Rate & HELOC Rate History
Context matters when evaluating a variable-rate product. These charts show where rates have been and how quickly they can move.
Prime Rate & HELOC Rate History
Context matters when evaluating a variable-rate product. These charts show where rates have been and how quickly they can move.
HELOC Options for Borrowers Who Don't Fit the Standard Box
Most banks approve HELOCs using W-2 income and full tax return documentation. That approach leaves out a large share of homeowners: the self-employed, real estate investors, retirees drawing from assets, and borrowers with recent credit events.
Truss Financial Group specializes in non-QM HELOC programs that assess eligibility using alternative documentation—bank statements, asset balances, or property cash flow—rather than requiring two years of tax returns.
All HELOC products are available to primary residences, second homes, and investment properties depending on the program.
- No income tax returns required on select programs
- No appraisal required on select programs
- Available for investment properties (DSCR HELOC)
- Interest-only draw period available
- Competitive pricing relative to bank offerings
Our Products
No Tax Return HELOC
Qualify using 12–24 months of bank statements instead of traditional tax return documentation.
No Appraisal HELOC
Skip the appraisal process using automated valuation models. Faster closing, less upfront cost.
DSCR HELOC
Leverage equity in rental properties. Qualification based on property cash flow, not personal income.
Senior HELOC
Designed for homeowners 62+ looking to access home equity with flexible repayment structures.
HELOC Rate Questions, Answered
What is today's average HELOC rate?
Average HELOC rates fluctuate daily based on the Prime Rate, which most lenders use as their benchmark. Lenders price HELOCs at Prime plus a margin. The live Bankrate widget at the top of this page shows current averages across dozens of lenders, updated in real time.
How does the Prime Rate affect my HELOC rate?
Most HELOCs carry a variable rate tied directly to the Prime Rate. When the Federal Reserve adjusts the federal funds rate, the Prime Rate moves within one to two business days—and your HELOC rate follows. The charts above show this relationship over time.
Can I get a HELOC without providing tax returns?
Yes. Truss Financial Group offers non-QM HELOC programs that do not require standard tax return documentation. Borrowers may qualify using bank statements, asset statements, or property rental income. These programs are particularly useful for self-employed borrowers and real estate investors whose income isn't fully captured on a tax return.
What credit score do I need for a HELOC?
Conventional HELOC programs typically require a minimum credit score of 620–680. Truss Financial Group's non-QM programs may accommodate lower scores depending on equity position, LTV, and other compensating factors. Reach out for a personalized eligibility review.
How much equity do I need to qualify for a HELOC?
Most lenders allow a combined loan-to-value (CLTV) up to 80–90%. As an example: if your home is worth $600,000 and you carry a $300,000 first mortgage, you may be able to access up to $240,000 via a HELOC (assuming 90% CLTV). The exact limit depends on your lender and the program.
Is a HELOC or cash-out refinance better?
It depends on your current first mortgage rate. If you locked in a low rate (below today's market), a HELOC preserves that rate while giving you access to equity. A cash-out refinance replaces your entire mortgage at the current rate. For many homeowners, a HELOC is the lower-cost option in a higher-rate environment.
Ready to unlock your home's equity?
Get a personalized HELOC rate quote in minutes. No obligation, no hard credit pull to start.
Get a Rate QuoteRate data displayed on this page is sourced from Bankrate.com and the Federal Reserve Economic Data (FRED) database and is provided for informational purposes only. Rates shown do not constitute an offer to lend and are subject to change without notice. Actual rates available to individual borrowers depend on creditworthiness, loan-to-value ratio, property type, and other underwriting criteria. Truss Financial Group is a licensed mortgage broker. NMLS# available upon request. This is not a commitment to lend. All loans subject to credit approval. Equal Housing Lender.