How much will a $100,000 HELOC cost monthly if opened this September?

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August 31, 2026 / 12:19 PM EDT / CBS News

If you find yourself in need of extra financing this September, it's not difficult to understand why. With inflation still elevated following years of higher costs, an interest rate hike looming that will make borrowing more expensive and credit card balances increasing yet again in the most recent quarter, the need for a large, six-figure sum of money is especially pronounced for millions of Americans right now. And while those who don't own a home will have to look toward alternative borrowing options, current homeowners likely have a robust and accessible funding source at their disposal via their home equity.

With a home equity line of credit (HELOC), specifically, homeowners can borrow a large, six-figure sum of their equity with a product that functions like a revolving line of credit. If you don't ultimately need all of the money, you won't be responsible for paying it. But if you're unsure of how much you'll exactly need but know that it will likely be $100,000 or more, this could be the…

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