How much will a $200,000 HELOC cost per month in 2026?

Home equity lines of credit (HELOCs) offered homeowners one of the very cheapest ways to borrow money in 2025. Interest rates on this product, thanks to a broader, cooler interest rate climate, dropped by more than two full percentage points from where they sat in September 2024. And that made them less expensive than home equity loans, personal loans and credit cards. These products also allowed homeowners to maintain their existing mortgage rate and terms in a way that cash-out refinance products simply don't permit. 

At the same time, HELOCs, like home equity loans, leverage your home equity and, thus, can jeopardize your homeownership if you're unable to make payments as agreed to. This can be a more realistic scenario than some homeowners may anticipate with a HELOC, as it has a variable rate that changes based on market conditions. Still, with home equity levels hitting a record high last year and with the need for extra financing to consolidate debt or pay off big expenses considerable right now, this could also be the smart way to secure a large, six-figure amount, such as $200,000 right now. 

To better determine the value of a $200,000 HELOC now, it helps to know the associated costs with the product. While this can be tricky to do with a variable rate product, borrowers can still get a sense of what they'll be expected to pay. Below, we'll crunch the numbers to know before getting started.

See how much home equity you'd be eligible to borrow here.

How much will a $200,000 HELOC cost per month in 2026?

To determine your monthly HELOC repayment costs, you'll need three primary figures: the amount being borrowed, the repayment term and the interest rate for each. But remember that a HELOC doesn't need to be immediately repaid in full, as many lenders mandate interest-only payments during the initial draw period before full repayments are required. 

Here, then, is how much a $200,000 HELOC will cost per month in 2026 and through the full repayment period, assuming the full line of credit is used and repaid immediately, calculated against today's average rates and two terms:

• 10-year HELOC at 8.22%: $2,449.86 per month
• 15-year HELOC at 8.22%: $1,936.79 per month

For context, here's how much a HELOC of this same size, using the same parameters, would have cost if secured at the start of 2025 instead:

• 10-year HELOC at 8.06%: $2,432.90 per month
• 15-year HELOC at 8.06%: $1,918.24 per month

So, payments here were actually lower in early 2025 than they were in early 2026. At the same time, HELOC rates as recently as a few weeks ago were under 8%, illustrating the fluidity these products present to borrowers. 

HELOC rates change monthly, which can be helpful in an interest rate environment in which rates are declining, as they largely have in recent weeks. But it can also be difficult to manage when rates are stagnant or, worse, increasing. So that volatility will need to be carefully accounted for, prior to securing the product, and especially so when leveraging such a large amount of equity like $200,000. 

See how low your current HELOC rate offers are here.

The bottom line

With the average home equity amount worth hundreds of thousands of dollars now, a $200,000 HELOC can be a viable tool for homeowners to explore. That exploration starts with understanding the monthly costs you'll be responsible for, which can range from $1,937 to $2,450, now, assuming the full line of credit is immediately used and then started to be repaid. With a HELOC of this size, however, it can be helpful to speak directly with a lender who can answer any questions you may have and help you build a tailored approach that can best address your unique home equity borrowing needs.