HELOC rates in New Hampshire rose from 4% in early 2022 to 8.3% by November 2024. With rates stabilizing at higher levels, homeowners considering a HELOC might benefit from securing current rates to avoid potential future increases.
HELOC
Best HELOC Rates in New Hampshire (January 2025)
Updated: January 18, 2025
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Key Takeaways
Higher loan-to-value (LTV) ratios lead to higher rates. The average APR for a HELOC in New Hampshire with an 80% LTV is 7.7%, compared with 8.8% for a 90% LTV.
HELOC rates vary by city in New Hampshire. Charlestown has an average APR of 7.3%, whereas Hampton's is 8.8%.
Different lenders offer varying rates for the same loan types. Align Credit Union's average APR is 6.5%, whereas Bank of America's is 9.4%.
Current HELOC Rates in New Hampshire
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HELOC Rates in New Hampshire by LTV Ratio
HELOC rates in New Hampshire vary based on your loan-to-value ratio and line limit. Lenders view a lower LTV as less risky, as it indicates more home equity. For instance, an 80% LTV means you've borrowed less against your home's value than a 90% LTV, reducing the risk of default on your HELOC.
The table below allows you to filter different loan amounts, providing a clear view of potential qualifications.
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Line Limit:$100,000
| 8.0% | 9.1% |
HELOC Rates in New Hampshire by City
HELOC rates in New Hampshire vary by city due to local housing markets and lender competition. For instance, cities with stable real estate markets might offer lower rates.
Use the table below to filter by city and see average APRs for $50k and $100k HELOCs.
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City:Manchester
| $100,000 | 8.5% |
| $50,000 | 8.5% |
HELOC Rates in New Hampshire by Lender
HELOC interest rates in New Hampshire vary among lenders based on their pricing strategies and risk assessments. This diversity allows for competitive options.
Below is a table of the five lenders in New Hampshire offering the lowest average APRs, providing a clear comparison of rates.
| Align Credit Union | 6.8% |
| Holy Rosary Regional Credit Union | 6.8% |
| Mascoma Bank | 7.5% |
| Eastern Bank | 7.8% |
| Digital Federal Credit Union | 7.8% |
HELOC rates today can differ among lenders, even within the same city. Use the table below to filter data by city, allowing you to compare average APRs and find the best rate available in your area.
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City:Manchester
| St. Mary's Bank Credit Union | Credit Union | 7.8% |
| Eastern Bank | Commercial Bank | 7.8% |
| Digital Federal Credit Union | Credit Union | 7.8% |
| Granite State Credit Union | Credit Union | 8.0% |
| NBT Bank | Commercial Bank | 8.3% |
| Bar Harbor Bank and Trust Company | Commercial Bank | 8.5% |
| Members First Credit Union | Credit Union | 8.8% |
| Service Federal Credit Union | Credit Union | 9.3% |
| Bank of America | Commercial Bank | 10.4% |
COMPARING HELOC RATES IN NEW HAMPSHIRE: BANKS VS. CREDIT UNIONS
HELOC rates in New Hampshire vary between banks and credit unions, with both currently offering an average APR of 8.0%. While commercial banks often have higher rates, the best available rate matches that of credit unions, which are not-for-profit institutions that typically offer lower rates due to their operational structure.
When choosing between the two, consider more than just rates. Banks may provide greater convenience and a wider range of services, while credit unions might offer better customer service and lower fees. It's important to check membership requirements for credit unions and be aware of any hidden fees or rate adjustment clauses with both lenders.
Ask the experts:
Are there any strategies homeowners can use to lock in a favorable HELOC rate in a rising interest rate environment, and how does a rate lock typically work with HELOCs?
Credit & Mortgage Expert
HELOCS often have variable interest rates, meaning they go up or down with the Federal Funds rate. So if you are worried about rates rising, you should look into a home equity loan or refinancing your home. That way you have a fixed rate that will not change over time.
HELOC Payment Calculator
HELOCs have become a popular tool for homeowners across the U.S. looking to tap into their home's equity. Use our New Hampshire HELOC payment calculator to estimate your monthly payments based on the amount drawn, APR, and loan terms.
Our calculator also provides a full amortization schedule, showing how much goes toward interest and principal over time. Understanding these details can help you manage your HELOC more effectively and plan for future payments.
New Hampshire HELOC Payoff Calculator
This HELOC payment calculator assumes that you take out one lump sum at the start of your interest-only period. Your actual payoff schedule will vary depending on your interest rate and market conditions.
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How to Get the Best HELOC Rates in New Hampshire
Finding the best HELOC rates in New Hampshire can save you significant amounts over your loan's duration. For instance, a lower rate can reduce monthly payments, freeing up funds for other expenses. Consider these five strategies to secure the most competitive rates:
Maintain a strong credit score
New Hampshire's average credit score is 736. Improving it can secure better rates. Aim for 750 or higher for more competitive offers.
Compare offers from multiple lenders
Shopping around helps find competitive rates. Use multiple offers to negotiate better terms and avoid settling for the first offer.
Reduce your debt-to-income (DTI) ratio
Lower debt-to-income (DTI) ratios attract better rates. Pay off credit card debt to improve your DTI ratio and financial appeal.
Increase your home equity
More equity lowers lender risk, leading to better rates. Consider paying down your mortgage or making home improvements.
Review closing costs and rate caps
Understand closing costs to manage expenses. Rate caps help control costs as rates adjust over time.
HELOC Loan Rates vs. Home Equity Loan Rates in New Hampshire
HELOC interest rates in New Hampshire average 8.0%, slightly higher than the 7.6% average for home equity loans. The difference is due to HELOCs having variable rates, which can rise with market conditions, unlike the fixed rates of home equity loans.
- HELOCs are revolving credit lines with variable rates that can increase in rising interest rate environments, potentially impacting homeowners' finances over time.
- Home equity loans offer a lump sum at a fixed rate, making them preferable for those seeking stable payments and rate predictability.
When deciding between these options, consider whether you value the flexibility of accessing funds as needed with a HELOC or the stability of fixed payments with a home equity loan. Assess your financial goals and how each option aligns with your need for predictability versus flexibility in managing your home's equity.
CONSIDERING A HELOC ALTERNATIVE? TRY A CASH-OUT REFINANCE
A cash-out refinance is a HELOC alternative that replaces your existing primary mortgage with a new, larger loan, giving you access to cash. Unlike HELOCs or home equity loans, it creates a new primary mortgage.
For instance, if you have a loan backed by the Federal Housing Administration (FHA) and your home is valued at $300,000 with a $150,000 mortgage balance, an FHA cash-out refinance for $200,000 could provide $50,000 in cash, with new loan payments based on $200,000.
FAQ: Best HELOC Rates in New Hampshire
What are the current HELOC rates in New Hampshire and how do they compare to national rates?
The average HELOC rate in New Hampshire is 8.0%, which is slightly lower than the national average of 8.2%.
What fees are commonly associated with HELOCs in New Hampshire?
Common fees include application, appraisal, annual, and early closure fees, but specifics vary by lender.
How do HELOC rates in New Hampshire compare to home equity loan rates?
New Hampshire's HELOC rates average 8.0%, while home equity loan rates are lower at 7.6%, which could be beneficial for those with bad credit.
How do HELOC Rates in New Hampshire vary between banks and credit unions?
Commercial banks in New Hampshire offer HELOC rates averaging 8.0%, while credit unions offer lower rates at the same 8.0%.
What's the best HELOC rate in Manchester? How does it compare to the current HELOC rate in New Hampshire?
The average HELOC rate in New Hampshire is 8.0%, while Manchester's rates are slightly higher, averaging 8.1%.
MoneyGeek examined 25 different banks and credit unions in New Hampshire using S&P Global's SNL Depository Rates dataset to stay current on the latest home equity line of credit rates.
This data is accurate as of January 10, 2025.
25Lenders Analyzed
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.