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

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August 25, 2026 / 10:14 AM EDT / CBS News

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.

Original source: https://www.cbsnews.com/moneywatch/