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Current HELOC Rates
HELOCs offer variable interest rates tied to the prime rate and allow homeowners to borrow against home equity up to 80-90% CLTV. They have draw periods (10-15 years) with interest-only payments and repayment periods (up to 20 years) with principal and interest payments. Rates depend on economic factors, credit score, and equity. Alternatives include home equity loans, credit cards, and personal loans. Some states have high untapped home equity.