From CBS News · Matt Richardson · · 1m 20s
Monthly payments on a $90,000 home equity loan now
Home equity loan payments are more affordable than they've been in years, but borrowing strategically matters.
In brief
Home equity loan payments are more affordable than they've been in years, but borrowing strategically matters. A $90,000 home equity loan costs between $867 and $1,098 per month depending on term length, down from higher rates in recent years. Originally reported by CBS News.
Home equity borrowing is rising
Homeowners are tapping record equity levels in 2025, with trillions of dollars available to borrow at rates lower than many alternatives.
Foreclosure risk is real
Home equity loans distribute funds as a lump sum upfront and expect immediate repayment. Missing payments can result in foreclosure of your home.
“Failure to make your repayments as agreed to could result in foreclosure.”
Current rates and payment options
The average home equity loan rate is 8.14% as of September 2026. A $90,000 loan costs $1,098.62 monthly over 10 years or $867.38 over 15 years.
Rates have dropped significantly
In October 2024, the same $90,000 loan cost $1,114.43 monthly over 10 years. Today's rates are lower, making borrowing more affordable than it's been in the past two years.
Shop around before rates rise
Homeowners can find even lower rates by shopping online with multiple lenders. Locking in rates now makes sense before interest rates increase again.
Borrow only what you can repay
The bottom line: only borrow amounts you can easily afford to repay over the loan term. Speaking with lenders directly helps ensure you succeed and avoid foreclosure.
What it means
A $90,000 home equity loan costs between $867 and $1,098 per month depending on term length, down from higher rates in recent years.
