Home Equity Loan Rates in Oregon (January 2025)

Tappable equity is the portion of your home’s value you can borrow. A home equity loan (HEL) lets you access this equity to fund home improvements or consolidate debt.

Oregon's home equity loan rates are above national averages, with an 8.2% APR for a 10-year term (compared to 7.7% nationally) and an 8.3% APR for a 15-year term (compared to 7.9% nationally). Explore detailed insights on Oregon's current home equity loan rates, including city-specific rates, top lenders and tips for securing the best deal.

The current average APR for a 15-year home equity loan in Oregon is 8.3%, but several factors might affect lenders' rates. A higher credit score typically means a lower APR, while larger loan amounts may result in higher rates. Repayment terms also affect the APR. Use the table below to compare average APRs for home equity loans in the state by loan term.

Oregon HEL interest rates change daily. Tracking these changes can help you save money by paying less interest over the life of the loan. Knowing current rates also enables you to plan your budget and borrow responsibly.

For example, a 15-year home equity loan with an 8.3% APR results in a $487 monthly payment and $37,575 in total interest. A 10-year loan with an 8.2% APR has a $612 monthly payment and $23,432 in total interest.

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 it, divide your current mortgage balance by your home's appraised value and multiply by 100. For instance, if your home is worth $300,000 and you owe $240,000, your LTV ratio is 80%.

A higher LTV ratio means greater risk for lenders, often resulting in higher rates. Oregon's average APR for a 15-year equity loan with an 80% LTV is 8.3%, while it's 8.5% for a 90% LTV. Use the table below to check rates based on your LTV ratio.

Average APRs also vary between cities in Oregon. Cities with higher living costs may see slightly higher rates due to increased operational expenses. Additionally, differences in property taxes or local fees can influence rates, affecting overall borrowing costs.

For example, Vernonia's average APR is 6.4%, while Sherwood's is 10.5%. The table below shows average home equity loan rates across Oregon cities.

Home equity loan rates in Oregon vary widely among lenders and are shaped by their policies and market strategies. Washington Trust Bank offers the lowest average APR at 4.8%, while KeyBank National Association has the highest at 11.9%.

Compare rates and terms from different lenders to find the best deal. Use the interactive table below to discover the most competitive lenders 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 information for Oregon homeowners.