What If Rates Go Up?
HELOC rates are variable. Use our Rate Matrix to see exactly how your monthly payment changes as interest rates fluctuate.
HELOC Rate Comparison Calculator
Don't just calculate one payment. See the big picture. This tool generates a comprehensive payment matrix, showing you the monthly cost for your loan amount across a wide range of potential interest rates.
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Monthly Payment Matrix
| Interest Rate | Monthly Payment | Annual Cost |
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Frequently Asked Questions
Why do HELOC rates change?
Most HELOCs have variable rates tied to the "Prime Rate," which is influenced by the Federal Reserve's federal funds rate. When the Fed raises rates to combat inflation, your HELOC rate typically goes up as well.
How often can my rate change?
HELOC rates can change as often as the Prime Rate changes, which can happen multiple times a year. Some lenders adjust your rate monthly, while others may do it quarterly.
What is a rate cap?
A rate cap is a limit on how high your interest rate can go. Most HELOCs have a lifetime cap (e.g., 18%) to protect you from extreme rate hikes. Check your loan agreement for your specific cap.
Find a Fixed Rate
Worried about rising rates? Consider a fixed-rate option.
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