HELOC Rates Explained (And How To Get The Best Rate) | NerdWallet

#A HELOC, or home equity line of credit, is an option for accessing your home equity. A pro for them is that they don't change your primary mortgage's interest rate which is beneficial when you bought or refinanced when rates were low. However, a HELOC comes with it's own interest rate and they tend to be higher than mortgage rates. Home Nerd Kate Wood is joined by Taylor Getler to talk about how HELOC rates are determined, the variability of HELOC rates, and what you can do to get a lower rate.