Home Equity Loan Rates in Louisiana (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.

Louisiana's home equity loan rates are above national averages — 8.0% APR for a 10-year term (7.7% nationally) and 8.1% APR for a 15-year term (7.9% nationally). We've compiled detailed insights on current home equity loan rates in Louisiana, 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 Louisiana is 8.1%, 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 increase the rate. Repayment terms also play a significant role in determining your APR. Explore the table to compare the average APRs of home equity loans in Louisiana across different loan terms.

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

For example, a 15-year home equity loan with an 8.1% APR results in a monthly payment of $481 and a total interest of $36,529. 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, which is the amount you owe on your mortgage compared 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 means greater potential risk to lenders, resulting in higher rates. Currently, the average APR of a 15-year equity loan in Louisiana with an LTV ratio of 80% is 7.9%, compared to 8.4% for an LTV ratio of 90%. Use the table to see what average home equity loan rates you might qualify for based on your LTV ratio.

Average APRs vary between cities in Louisiana. Cities with higher home values often have lower rates because the loans are seen as less risky. In larger or more densely populated cities, more lenders compete, which can lead to low interest rates.

In Louisiana, Walker has an average APR of 6.7%, while Ringgold has an average APR of 11.0%. Use our table to see Louisiana cities' average home equity loan rates.

Home equity loan rates in Louisiana vary between lenders due to differences in policies, risk assessments and market strategies. For instance, Breco Federal Credit Union offers the lowest average APR at 6.7%, while BOM Bank has the highest at 11.0%. 

Comparing rates and terms from different lenders is a smart way to secure the lowest home equity loan rates. Explore the interactive table below to see which lenders offer the lowest rates in your city.

Getting the best possible interest rate can transform your borrowing experience by lowering monthly payments and overall costs. Imagine saving enough to fund a dream vacation or invest in home improvements. To secure the best home equity loan rates in Louisiana, consider these strategies:

MoneyGeek answers common questions about home equity loan rates for Louisiana homeowners, ensuring they have the reliable insights needed to understand these rates and make informed decisions.