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HELOC Mortgage rates for June 16, 2026
Unlock the equity of your home with flexible options
Compare today’s conventional mortgage rates and explore your options with Andes Mortgage. Whether you’re buying a home, refinancing, or investing, we’ll help you find competitive rates from our network of lenders.
100% secured. No impact to your credit scores.
Rates updated as of June 16 , 2026
Rates can vary based on the lender, credit score, home equity, loan amount and property type. The examples below are for illustration purposes only and are not a commitment to lend.
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You’re approved for a credit line based on your home equity.
You’re approved for a credit line based on your home equity.
You’re approved for a credit line based on your home equity.
You’re approved for a credit line based on your home equity.
HELOC rates are tied to the Prime Rate and can change monthly. Rates shown here reflect market averages.
Prime Rate (As of today)
Rates are subject to change. Get your personalized rate for accurate numbers based on your situation.
HELOC rates are typically based on two factors: the Prime Rate and your profile as a borrower.
Lenders start with the current Prime Rate and then add a margin based on factors such as your credit score, loan-to-value ratio (LTV), property type, occupancy, and overall financial profile.
Borrowers with higher credit scores, more home equity, and lower loan-to-value ratios generally qualify for lower HELOC rates. Unlike traditional fixed-rate mortgages, many HELOCs have variable interest rates, meaning the rate can increase or decrease over time as market conditions change.
Because every lender uses different pricing models, the best way to determine your actual HELOC rate is to compare multiple options and review a personalized quote based on your specific situation.
Not sure which one is the right option for you? Here’s a quick comparison.
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HELOC
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Cash-Out Refinance
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|---|---|---|
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Keep current mortgage
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✅
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❌
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Access to funds
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Flexible
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Lump sum
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Interest Rate
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Variable
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Fixed or Variable
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Maximum LTV
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Up to 90%
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Up to 80%
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660
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580
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Best For
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Ongoing expenses, flexibility
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Large expenses, lower rates
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Tip: Don’t just go with the loan that gives you the lowest interest rate. Analyze your needs first and talk to a knowledgeable Loan Officer who can guide you for the best option possible.
We compare rates from 40+ lenders to find competitive options that fit your needs. You’ll get expert guidance, personalized solutions, and a partner who works for you.
We compare rates from 40+ lenders to find competitive options that fit your needs. You’ll get expert guidance, personalized solutions, and a partner who works for you.
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home’s equity. Similar to a credit card, you can borrow funds as needed up to your approved credit limit during the draw period and repay the balance over time.
HELOC rates are typically based on the Prime Rate plus a lender margin. Factors such as your credit score, loan-to-value ratio (LTV), occupancy, loan amount, and overall financial profile can impact the rate you receive.
Most HELOCs have variable interest rates that can change over time as market conditions and the Prime Rate change.
At Andes Mortgage, we offer both variable and fixed-rate HELOC options.
At Andes Mortgage, we offer HELOCs with credit scores as 640. However, higher credit scores are preferred as you will receive better rates, terms and more equity access.
The amount you can borrow depends on your home’s value, current mortgage balance, available equity, and lender guidelines.
We at Andes Mortgage, we access HELOCs for up to 90% combined loan-to-value (CLTV).
No. A HELOC is a separate loan that is typically recorded as a second mortgage behind your existing first mortgage. Obtaining a HELOC does not change the interest rate, payment, or terms of your current mortgage.
Both a HELOC and a Home Equity Loan allow you to borrow against your home’s equity, but they work differently.
A HELOC functions like a revolving line of credit. You can draw funds as needed during the draw period and only pay interest on the amount you use. Most HELOCs have variable interest rates.
A Home Equity Loan (HELOAN) provides a lump sum of money upfront and typically comes with a fixed interest rate and fixed monthly payment.
HELOC funds can be used for a variety of purposes, including home renovations, debt consolidation, education expenses, emergency reserves, business investments, and other major expenses.
A HELOC is a separate line of credit that leaves your existing mortgage intact. A cash-out refinance replaces your current mortgage with a new loan and provides cash from your home’s equity at closing.
Home equity is the difference between your current home’s value and it’s current liens. The more equity you have, the bigger the line of credit you can generally take.
Yes. During the draw period, many HELOCs offer interest-only payment options. Once the repayment period begins, borrowers typically make principal and interest payments on the outstanding balance.
HELOC funds can be used for a variety of purposes, including home renovations, debt consolidation, education expenses, emergency reserves, business investments, and other major expenses.
No! You can pay off the balance of your HELOC in full and you will never be penalized or be charged any fees.
Absolutely! Homeowners who take out a HELOC often pay off high interest revolving debt, personal loans and even auto loans and student loans if the numbers make sense.
Get a personal rate in minutes and explore your best loan options – no impact to your credit.
Book a call and get personalized information.
Skip the wait and get started on your pre-approval asap.