How much will a $100,000 home equity loan cost per month if opened this September?

Heading into September 2026, there are plenty of viable ways to borrow money, whether you’re looking for a small, four- or five-figure amount or something more substantial like $100,000. But there are few viable and affordable ways to borrow, especially for that latter amount. That is, unless you’re a homeowner. With the average home equity amount hitting a record high in 2025 and with home equity loans, in particular, tied to interest rates considerably lower than what’s available with credit cards or personal loans, this could be the smart way to borrow money right now.

Still, home equity borrowing isn’t risk-free. Your home functions as collateral in the exchange and could be foreclosed on if you fail to make repayments as agreed to. And you will be adding another monthly bill to the mix, which can be difficult to manage if you’re already having difficulty making ends meet. With home equity loan funds being disbursed via a lump sum, you’ll be expected to begin making full repayments almost immediately, too. 

To better decide on the value of a home equity loan of this size right now, it helps to start with the fundamentals. So, how much will a $100,000 home equity loan cost per month if opened this September? That’s what we’ll break down below.

Start by seeing how much home equity you’d be eligible to borrow here.

How much will a $100,000 home equity loan cost per month if opened this September?

Home equity loans have fixed interest rates that make long-term budgeting both accurate and predictable. The median home equity loan interest rate is 8.14% as of August 24, 2026, according to Money.com, though homeowners should expect to see higher and lower rate offers when shopping around. 

Using that rate, here’s how much borrowers can expect to pay per month, calculated against two common repayment periods and the ***umption that the loan isn’t refinanced before being paid off:

• 10-year home equity loan at 8.14%: $1,220.69 per month
• 15-year home equity loan at 8.14%: $963.75 per month

For context, here’s what it cost in April, when rates were considerably lower:

• 10-year home equity loan at 6.96%: $1,159.02 per month
• 15-year home equity loan at 6.96%: $896.59 per month

And here’s what it cost in January, when rates were around the same as they are now:

• 10-year home equity loan at 8.18%: $1,222.81 per month
• 15-year home equity loan at 8.13%: $963.17 per month

So while rates – and costs – are slightly lower than they were at the start of the year, they’re also considerably elevated compared to what they were in the spring. 

At the same time, with the prospect of an interest rate hike from the Federal Reserve later this year not insignificant and the likelihood that home equity loan rates would rise if that occurs, it may make sense to lock in the lowest rate you can secure right now. You can always refinance the loan in the future if rates materially decline, but there’s no guarantee that the rate offers you qualify for now will last much longer.

See how low your current home equity loan rate offers are here.

The bottom line

A $100,000 home equity loan opened this September will come with monthly payments ranging from $964 to $1,221, approximately, depending on the term and the rate borrowers can secure. With rates here higher than they were earlier in 2026, however, and only moderately improved from what they were at the start of the year, it behooves borrowers to shop around for rates and lenders. You don’t necessarily have to use your current mortgage lender to borrow with a home equity loan and with online marketplaces listing rates, terms and conditions all in one place, it’s easier than ever to thoroughly and accurately compare and review all of your current options.