How much does a $15,000 HELOC cost monthly in 2025?
Borrowing from your home equity can be a wise financial move in most economic climates. But in the economy of early April 2025, when personal loan rates are over 12% and credit card rates are near a record 23%, it's one of the only ways to make ends meet without harming your financial health. Two of the more cost-effective ways to borrow right now come via home equity loans and home equity lines of credit (HELOCs).
The latter has a variable interest rate liable to change monthly. While that could be detrimental in certain circumstances, it's been a boost to savers over the last six months, approximately, as HELOC interest rates have declined by more than two full percentage points. This makes the average HELOC rate of 7.90% now cheaper than home equity loans, personal loans and credit cards. And if the economic conditions of the last several months persist, HELOC rates could decline even further, perhaps even as soon as this April.
Still, borrowing from your home equity should always be done with precision, even if you do so with a low-rate HELOC and even if you do so for a small amount, like $15,000. One of the better ways to ensure success is by calculating your HELOC repayment costs, both tied to what rates are available right now as well as to what those rates could look like in the future. So, how much does a $15,000 HELOC cost monthly in 2025? Below, we'll do the math.
See what HELOC rate you'd be eligible for here.
How much does a $15,000 HELOC cost monthly in 2025?
To accurately calculate your HELOC repayment costs, you'll need three figures: the amount of the credit line, the repayment period and the average interest rate. The following calculations assume a constant rate and a good credit score on behalf of the borrower:
- 10-year HELOC at 7.90%: $181.20 per month
- 15-year HELOC at 7.90%: $142.48 per month
As mentioned, to be safe, borrowers should also calculate these costs on the assumption that rates decline. So here's what these payments could look like if the rate drops by a full percentage point:
- 10-year HELOC at 6.90%: $173.39 per month
- 15-year HELOC at 6.90%: $133.99 per month
And here's what they would be if today's average rate increased by a full percentage point:
- 10-year HELOC at 8.90%: $189.20 per month
- 15-year HELOC at 8.90%: $152.25 per month
Still, there's no way of knowing definitively how HELOC rates will evolve, so interested borrowers should take the above calculations into consideration but also look to calculate an additional series of realistic payment scenarios to better ensure long-term affordability.
Start comparing your current HELOC rate offers here now.
HELOC minimums to know
While many lenders will allow you to borrow equity via a $15,000 HELOC, it's important to know that this amount is typically close to the minimum that most lenders will approve. $10,000 is typically the lowest amount of equity you can borrow, so it is possible that the lenders you want to work with will reject a HELOC application for $15,000 only.
On the other hand, lenders typically are more focused on you overborrowing versus underborrowing, so they'll cap your amount at 80% of your available equity, mandating that you leave a 20% threshold as a buffer. Still, with the average home equity amount around $313,000 right now, a $15,000 HELOC will leave around 95% of that equity untouched.
The bottom line
A $15,000 HELOC comes with monthly payments under $182 for qualified borrowers. But with a variable rate, homeowners should be prepared to pay more or less in the future, based on economic conditions. And don't forget that HELOCs come with closing costs, too, so it will be important to account for those expenses overall. But if the math makes sense, and it appears to do that based on the above calculations, a $15,000 HELOC could be a boost for your financial situation both now and into the future.
