Last updated: May 21, 2026

What a $75,000 HELOC Actually Costs Per Month in March 2026

If you’re thinking about opening a home equity line of credit, the obvious first question is: what will it actually cost me each month? With average HELOC rates sitting at 7.17% as of March 2026, according to Bankrate, the numbers are more favorable than they’ve been in years. Let’s break it down.

Monthly Payment on a $75,000 HELOC at Today’s Rate

HELOCs work differently from traditional loans. During the draw period — typically the first 5 to 10 years — most lenders require interest-only payments. On a $75,000 balance at 7.17%, you’d pay approximately $448 per month in interest alone.

Once the draw period ends and you enter the repayment phase, your monthly payment will increase because you’ll be paying down the principal too. The exact amount depends on your remaining balance and repayment term, but budgeting for the interest-only phase gives you a realistic starting point.

How That Compares to Last Year

Here’s where the savings become concrete. HELOC rates were significantly higher in early 2025, and borrowers who waited have benefited. On that same $75,000 balance, today’s rate saves you roughly $37 per month compared to March 2025 rates. That works out to about $444 per year, or approximately $4,470 over the life of the loan.

It’s not a dramatic windfall, but it’s real money — especially when you consider that HELOC rates peaked near 10% in September 2024. Borrowers who locked in at those levels are paying considerably more each month.

What About Fixed-Rate Home Equity Loans?

If predictable payments matter more to you than flexibility, a fixed-rate home equity loan is worth considering. Current averages come in at 7.85% for a 5-year term, 7.99% for 10 years, and 7.97% for 15 years, based on Bankrate’s tracking. The rates are slightly higher than a HELOC, but your payment stays the same for the entire loan — no surprises if interest rates move.

On a $75,000 home equity loan at 7.99% over 10 years, expect a monthly payment in the range of $900 to $910, covering both principal and interest.

Tips Before You Borrow

A few things to keep in mind. First, your actual rate will depend on your credit score, loan-to-value ratio, and the lender you choose. The 7.17% average is just that — an average. Strong borrowers may qualify for less, while others may see higher offers.

Second, compare lenders carefully. Providers like Rocket, Figure, and Achieve each structure their products differently, with varying fees, draw periods, and rate caps. Even a quarter-point difference in rate adds up over time on a $75,000 balance.

Finally, borrow only what you need. A HELOC gives you access to a credit line — the average limit is nearly $150,000, according to recent data — but carrying a larger balance means higher monthly costs. Use the flexibility wisely.

Reviewed by Priya Iyer, CFA®. Priya Iyer, CFA®, is a chartered financial analyst with 14 years of experience in self-directed retirement vehicles, alternative assets, and residential mortgage products. Last reviewed May 2026.