Home Equity Loan Rates in Kansas (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.

Kansas home equity loan rates are above national averages — 8.0% APR for a 10-year term (7.7% nationally) and 8.2% APR for a 15-year term (7.9% nationally). We've compiled detailed insights on current home equity loan rates in Kansas, 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 Kansas is 8.2%, but several factors might affect what lenders offer. For instance, a higher credit score can lead to a lower APR, while a larger loan amount might result in a higher rate. Repayment terms also play a role in determining your loan costs. Compare the average APRs of home equity loans in Kansas across different loan terms to see how these factors come into play.

Interest rates for home equity loans change daily. Keeping track of these changes can help you pay less in interest over the life of the loan, saving you money. Additionally, knowing the current rates lets you accurately plan your budget and future expenses, ensuring you're borrowing within your means.

For example, a 15-year home equity loan in Kansas with an 8.2% APR results in a monthly payment of $484 and a total interest of $37,051. In contrast, a 10-year loan with an 8.0% APR has a monthly payment of $607 and a total interest of $22,797.

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

A higher LTV ratio presents a greater risk to lenders, leading to higher rates. In Kansas, the average APR for a 15-year equity loan with an 80% LTV ratio is 8.1%, while it's 8.3% for a 90% LTV ratio. Use the table to see what rates you might qualify for based on your LTV ratio and compare average home equity loan rates.

Average APRs vary between Kansas cities. Cities with higher home values or rapid appreciation often have lower rates because the loans are seen as less risky. Differences in property taxes or local fees can influence rates, affecting overall borrowing costs.

In Kansas, Hiawatha has an average APR of 5.5%, while Lakin has an average APR of 9.3%. The table below shows the cities in Kansas and their average home equity loan rates for different terms.

Home equity loan rates in Kansas vary significantly between lenders, influenced by each lender's policies, risk assessments and market strategies. For instance, HTLF Bank offers the lowest average APR at 5.5%, while Andover State Bank has the highest at 9.5%.

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

Securing the best home equity loan rates can lower your monthly payments and total borrowing costs, freeing up funds for other financial goals. Imagine reducing your rate by a small percentage; the savings can be substantial over time. To achieve the best home equity loan rates in Kansas, consider these strategies:

MoneyGeek provides Kansas homeowners with clear answers to common questions about home equity loan rates, ensuring they understand the factors influencing rates, such as lender policies and credit scores.