Home Equity Loan Rates in Idaho (January 2025)

The equity in your home that you can access and borrow is known as tappable equity. A home equity loan (HEL) can help you maximize your home equity, whether you're looking to fund home improvement projects or consolidate debt.

Idaho's home equity loan rates are higher than national averages — 8.1% APR for a 10-year term (7.7% nationally) and 8.3% APR for a 15-year term (7.9% nationally). We've compiled detailed insights on current home equity loan rates in Idaho, including city-specific rates, top lenders, and tips on securing the best rates for using your home's equity.

The current average APR for a 15-year home equity loan in Idaho is 8.3%, but several factors might affect what lenders offer. For instance, a higher credit score often results in a lower APR, while a larger loan amount could mean a higher rate. Repayment terms also play a role, so it's important to consider how these factors impact current home equity loan rates in Idaho. Check out the table below to compare the average APRs for home equity loans in Idaho across different loan terms.

Interest rates for a home equity loan change daily. Keeping track of these rates can save you money by reducing the interest you pay over the life of the loan. 

For example, a 15-year home equity loan with an 8.3% APR has a monthly payment of $487 and results in $37,575 in total interest. In contrast, a 10-year loan with an 8.1% APR requires a $609 monthly payment and leads to $23,114 in total interest.

The rate you qualify for depends on your loan-to-value ratio, which compares your mortgage balance to your home's appraised value. To calculate your LTV ratio, divide your current mortgage balance by your home's appraised value and multiply by 100. For example, if your home is valued at $300,000 and you owe $240,000 on your mortgage, your LTV ratio is 80%.

A higher LTV ratio presents a higher risk to lenders, resulting in higher rates. In Idaho, the average APR of a 15-year equity loan with an LTV ratio of 80% is 8.4%, compared to 7.9% for an LTV ratio of 90%. Use the table to see what rates you might qualify for based on your LTV ratio.

Average APRs for home equity loans vary between cities in Idaho. Differences in property taxes or local fees can influence these rates, affecting overall borrowing costs. In more densely populated cities, increased competition among lenders can lead to lower interest rates.

In Idaho, Caldwell has an average APR of 7.1%, while Weiser's is 10.5%. Explore the table below to see the average home equity loan rates across Idaho cities with different terms.

Home equity loan rates in Idaho vary between lenders due to different policies and market strategies. For instance, Washington Trust Bank offers the lowest average APR at 4.8%, while KeyBank National Association has the highest at 11.9%.

Comparing rates and terms from different lenders is key to securing the lowest home equity loan rates. Explore the interactive table below to see which lenders offer the most competitive rates in your city.

Getting the best home equity interest rates can reduce your monthly payments and overall costs, freeing up funds for other financial goals. To secure the best rates, consider these strategies:

MoneyGeek addresses common questions about home equity loan rates, offering clear and reliable insights to Idaho homeowners.