HELOC rates have dropped. Apply in 5 minutes — get your funds in as few as 5 days.
Home Equity Line of Credit
Your cards charge 24%.
Your house charges 6.60%.
Move $40,000 of credit-card debt onto a Rate HELOC and keep about $568 every month — roughly $6,800 a year, on the same debt. 100% digital. Funded in as few as 5 days.
Checking won't affect your credit score No paperwork. No commitment.
Today's HELOC rate
Lowest rate available
6.60% APR1
10-year term · Fixed-rate option · Predictable payments
$40,000
$5K$150K
Credit card at 24% APR $800/mo
Rate HELOC at 6.60% APR $220/mo
You keep
$568
every month
Year one
$6,960
Interest-only comparison for illustration. Your rate depends on credit profile, combined loan-to-value and other factors.
★ 4.9 / 5
400,000+ verified reviews
5 days
to funding vs. 45-day average
$25K – $750K
credit lines to fit the project
100% Digital
application
The real cost of high-interest debt
Every month you wait costs about $568.
Carrying $40,000 on credit cards at a typical 24% APR costs roughly $800 a month in interest alone — before you've paid down a single dollar of the balance.
The same balance on a Rate HELOC at 6.60% costs about $220. That isn't a discount or a promotion. It's the price of borrowing against something you already own.
If you move $40,000 today
$6,960
stays in your pocket in year one.
Over 3 years$20,460
Over 5 years$34,100
Waiting 6 months costs you$3,410
Know your options
Four ways to borrow $40,000.
A HELOC isn't always the answer, and at today's rates a cash-out refinance prices about the same. The difference is what it costs you everywhere else. cash-out refinance costs you that nobody puts on a landing page.
| Option | Typical rate | Monthly interest | Time to funds | Touches your 1st mortgage? |
|---|---|---|---|---|
| Rate HELOC | 6.60% APR | ~$220 | As few as 5 days | No — sits alongside it |
| Cash-out refinance | ~6.9% APR | ~$230 | 30–45 days | Yes — you lose your current rate |
| Personal loan | 12–20% APR | ~$530 | 1–7 days | No |
| Credit card | ~24% APR | ~$800 | Immediate | No |
The rates are close. What isn't: a cash-out refinance replaces your first mortgage. A HELOC sits beside it and funds in days, not weeks. For anyone holding a low first mortgage, that decides it.
Three steps. Five minutes to start.
No branch visits. No paperwork. Link your accounts securely and the platform handles the rest.
01
Check your number
Answer a few questions about your home and what you're looking to do. Takes about two minutes, and it will not affect your credit score.
02
See your offer
Your rate, your credit line size, your terms — reviewed digitally, on your schedule, with a HELOC expert a phone call away if you want one.
03
Get funded
Sign digitally and receive funds in as few as five days. Draw what you need, when you need it — you only pay interest on what you actually use.
Step one is the two-minute check. No credit impact, no commitment.
Half a million homeowners. Rated 4.9 out of 5.
★★★★★
"Applied Monday, funded by Thursday. I kept my 3.1% mortgage exactly where it was and still pulled out what I needed for the kitchen."
$610/mo saved
Michael R.Home renovation · Austin, TX
★★★★★
"We consolidated two credit cards and a personal loan. Our monthly payment dropped by more than $600. We should have done this a year ago."
$52K consolidated
Danielle K.Debt consolidation · Chicago, IL
★★★★★
"Simple and transparent — the rate was exactly what they quoted. Document upload through the app took ten minutes total."
6 days to funding
James P.HELOC · Denver, CO
Questions homeowners actually ask.
Will checking my eligibility affect my credit score?
No. The initial eligibility check uses a soft credit inquiry, which does not impact your score. A full credit check only happens later, if you decide to move forward with an application.
Do I have to refinance my current mortgage?
No — and this matters. A HELOC sits alongside your existing mortgage as a separate line of credit. If you locked a low first-mortgage rate, it stays exactly where it is. You're only borrowing against the equity on top of it.
How fast can I actually get the money?
Rate's digital HELOC funds in as few as 5 days from application — most customers see funds within 5 to 10 days. Traditional home equity products average 45+ days.
How much can I borrow?
Credit lines range from $25,000 to $750,000, depending on your home's value, what you owe on it, and your credit profile. Most homeowners can access a meaningful share of the equity above 20% ownership.
Is the rate fixed or variable?
Rate offers a fixed-rate HELOC option — your payments stay predictable for the life of the draw. Additional draws are set at the rate in effect at the time of the draw.
What does it cost to get started?
Checking your eligibility is free and takes about two minutes. If you move forward, costs vary by profile and state — you'll see everything itemized before you commit to anything. Not sure where you stand? Check your eligibility with no credit impact.
Meet Your Loan Officer
Shant Banosian
President · Rate
NMLS #7206
America's #1 loan officer six years running — and Rate's #1 for nine — Shant has funded more than $10 billion for 40,000+ families over a 20-year career, licensed in all 50 states. And 95% of his clients would do it all again with him. Raised in Watertown, he lives in Belmont with his wife and three daughters.
Your equity is already yours. Put it to work.
Five-minute application. Funded in as few as five days. At a fraction of what your credit cards charge you every month you wait.
No credit impact to check your options · Talk to Shant: (617) 827-6674