Home Equity Loan Rates in Wisconsin (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.

Wisconsin's home equity loan rates are slightly lower than national averages — 7.5% 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 Wisconsin, 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 Wisconsin is 8.1%, but several factors might affect what lenders offer. For example, a higher credit score usually results in a lower APR, while a larger loan amount could lead to a higher rate. Repayment terms also play a role in determining your rate. Check the table to compare the current home equity loan rates in Wisconsin across different loan terms.

Interest rates for home equity loans change daily. Monitoring these changes can lead to significant savings. A lower rate means you'll pay less in interest over the life of the loan, saving you money. Additionally, if you have high-interest debts, a home equity loan at a low rate can help you consolidate those debts and reduce your overall interest payments.

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 comparison, a 10-year loan with a 7.5% APR has a monthly payment of $594 and a total interest of $21,221.

The rate you qualify for depends on your loan-to-value ratio, which is how much 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 Wisconsin with an LTV ratio of 80% is 7.8%, compared to 8.5% for an LTV ratio of 90%. Use the table to see what rates you might qualify for based on your LTV ratio.

Average APRs vary between cities in Wisconsin. In larger or more densely populated cities, more lenders compete, which can lead to lower interest rates. Additionally, differences in property taxes or local fees can influence rates, as these affect overall borrowing costs.

In Wisconsin, Gresham's average APR is 2.5%, while Lake Geneva's is 9.5%. The following table shows the average home equity loan rates in different Wisconsin cities.

Home equity loan rates in Wisconsin vary significantly between lenders, influenced by each lender's policies, risk assessments and market strategies. For example, AbbyBank offers the lowest average APR at 2.5%, while PNC Bank has the highest at 10.0%.

Comparing rates and terms from different lenders is the best 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 home equity interest rates can lower your monthly payments and reduce overall borrowing costs, making it easier to manage your finances. For instance, securing a low rate in Wisconsin could free up funds for other expenses. To obtain the best home equity loan rates, consider these strategies:

MoneyGeek addresses common questions Wisconsin homeowners have about home equity loan rates. The information is precise and reliable, helping you understand your options.