The HELOCHQ HELOC Report
What 9,601 real HELOCs show about how homeowners borrow against their homes: how much, at what rate, and how that's changed. Every HELOC funded by Shawn Way's team at West Capital Lending, January 2023 to October 2026.
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What do 9,601 funded HELOCs show about how homeowners borrow?
- The median HELOC line the team funded was $92,000, about 18% of the home's value.
- The median starting rate on HELOCs Shawn Way's team funded in 2026 was 8.70%.
- Borrowers with scores under 640 paid a median rate 3.9 points higher than borrowers at 760+.
- Orange County lines ran $150,000, versus $91,000 elsewhere.
HELOCHQ analysis of 9,601 HELOCs funded by loan officers on Shawn Way's team at West Capital Lending, January 2023–October 2026.
Looking for quotable numbers? The HELOC statistics page lists the key figures one by one, with a CSV download and a suggested citation.
On this page
HELOCs took over
In 2023, HELOCs were 39% of the loans Shawn Way's team funded. In 2026 they're 59%, more than all other loan types combined. Shawn's read: homeowners holding low first-mortgage rates are borrowing against their equity rather than refinancing it away.
| Year | HELOC share of loans funded |
|---|---|
| 2023 | 39% |
| 2024 | 40% |
| 2025 | 55% |
| 2026 (through October) | 59% |
The rest are purchase loans, refinances, cash-out refinances, fixed home equity loans, reverse mortgages and other programs. Why it matters: HELOC vs. cash-out refinance.
Use a free calculator, or get your HELOC rate from Shawn.
HELOC rates, quarter by quarter
The median starting rate on a funded HELOC peaked at 11.35% in 2024 Q2 and bottomed at 8.15% in 2026 Q1. In 2026 Q4 (through October) it was 9.05%. These are rates borrowers actually closed at, not advertised rates.
Today's rate ranges by credit score are on the HELOC rates page.
What your credit score costs
Among 2026 HELOCs with a recorded score, borrowers at 760+ paid a median 7.55%. Borrowers with scores under 640 paid 11.47%. That's a gap of 3.9 percentage points. Borrowers with scores under 680 still got approved; they paid more for it.
| Credit score | Loans | Rate | Line amount | ||||
|---|---|---|---|---|---|---|---|
| Low | Median | High | Low | Median | High | ||
| 760+ | 750 | 6.50% | 7.55% | 9.06% | $42,000 | $106,000 | $304,000 |
| 720–759 | 481 | 7.05% | 8.20% | 9.95% | $40,000 | $97,000 | $240,000 |
| 680–719 | 536 | 7.57% | 9.00% | 11.42% | $42,000 | $94,000 | $200,000 |
| 640–679 | 341 | 7.88% | 10.55% | 13.55% | $31,000 | $74,000 | $125,000 |
| Under 640 | 114 | 10.32% | 11.47% | 13.96% | $29,000 | $62,000 | $124,000 |
Low and high are the 10th and 90th percentiles: one in ten loans in each tier came in below the low figure and one in ten above the high. That keeps a single unusual loan from setting the range.
Raising your score before you apply can pay off. How score tiers work.
How much homeowners borrowed
The median line was $92,000, and half of all lines fell between $57,000 and $145,000. The typical line equaled 18% of the home's appraised value, on homes with a median value of $500,000. Most borrowers took a fraction of the equity they had.
Most HELOCs are now fixed-rate
In 2026, 84% of HELOCs carried a fixed rate on the amount drawn, not the variable, prime-based rate most people picture. A fixed-rate HELOC locks the payment on each draw, which protects borrowers if rates rise. How fixed-rate HELOCs work.
| Repayment term | Loans | Share |
|---|---|---|
| 30 years | 2,174 | 55% |
| 20 years | 1,497 | 38% |
| 15 years | 194 | 5% |
| 10 years | 113 | 3% |
Whose homes
90% of HELOCs were on the borrower's own home. Investment properties were 3% and second homes 1%; both usually come with lower borrowing limits and higher rates. HELOCs on rentals.
Orange County
279 of the HELOCs were on Orange County homes. The median Orange County line was $150,000, against $91,000 everywhere else, on homes appraised at a median $1,210,000. Even so, Orange County borrowers drew a smaller slice of their home's value: a median 12%, versus 18% overall.
| Orange County | All other HELOCs | |
|---|---|---|
| HELOCs | 279 | 9,322 |
| Median line | $150,000 | $91,000 |
| Median appraised value | $1,210,000 | $490,000 |
Orange County cities with 10 or more HELOCs
| City | HELOCs | Median line |
|---|---|---|
| Anaheim | 30 | $134,500 |
| Orange | 19 | $115,000 |
| Santa Ana | 18 | $94,500 |
| Huntington Beach | 15 | $206,000 |
| Rancho Santa Margarita | 14 | $135,000 |
| Irvine | 14 | $241,500 |
| Mission Viejo | 14 | $107,000 |
| Garden Grove | 11 | $203,000 |
| Laguna Niguel | 11 | $150,000 |
| Costa Mesa | 10 | $103,500 |
| Buena Park | 10 | $102,000 |
Home values and borrowing room for every Orange County city. County median home value: $962,600 (U.S. Census).
By state
| State | HELOCs | Median line | Median home value |
|---|---|---|---|
| California | 2,597 | $105,000 | $780,000 |
| Florida | 1,198 | $101,000 | $470,000 |
| Arizona | 551 | $82,000 | $490,000 |
| Ohio | 400 | $68,500 | $290,000 |
| Virginia | 389 | $101,000 | $480,000 |
| Pennsylvania | 353 | $80,000 | $330,000 |
| Washington | 326 | $102,000 | $630,000 |
| Colorado | 304 | $84,000 | $600,000 |
| Michigan | 295 | $73,000 | $300,000 |
| Maryland | 268 | $78,000 | $450,000 |
| Tennessee | 264 | $79,000 | $395,000 |
| Oregon | 239 | $81,000 | $510,000 |
| Oklahoma | 195 | $79,000 | $280,000 |
| Alabama | 191 | $70,000 | $320,000 |
| Utah | 178 | $105,500 | $620,000 |
| Wisconsin | 154 | $71,000 | $350,000 |
| Missouri | 141 | $75,000 | $330,000 |
| Texas | 139 | $88,000 | $360,000 |
| Idaho | 135 | $94,000 | $460,000 |
| Kansas | 134 | $82,000 | $320,000 |
| Minnesota | 131 | $66,000 | $380,000 |
| Connecticut | 117 | $89,000 | $470,000 |
| Arkansas | 107 | $74,000 | $250,000 |
| New Hampshire | 100 | $104,000 | $500,000 |
| Nebraska | 89 | $67,000 | $300,000 |
| Iowa | 87 | $61,000 | $260,000 |
| Kentucky | 77 | $70,000 | $290,000 |
| Delaware | 75 | $79,000 | $420,000 |
| Maine | 72 | $94,000 | $445,000 |
| New Mexico | 65 | $91,000 | $360,000 |
| Hawaii | 55 | $122,000 | $1,000,000 |
| Wyoming | 48 | $81,000 | $445,000 |
| West Virginia | 32 | $71,500 | $265,000 |
| Alaska | 28 | $121,000 | $455,000 |
States with fewer than 25 HELOCs (67 loans in total) are left out.
Method
Every HELOC funded by the loan officers on Shawn Way's team, The Masters, at West Capital Lending (NMLS #1566096), from January 2023 to October 2026: 9,601 loans across 41 states, from the team's funding report. The analysis starts in 2023, the year Shawn joined West Capital. The data was anonymized before analysis: no names, addresses, ZIP codes or exact dates, only the month funded, with amounts rounded. Figures are medians, so a few very large lines don't skew them. Rates are the starting rate at funding. Credit scores were recorded for 61% of loans; the credit table uses 2026 loans only, to reflect current pricing. Home values are appraised or estimated values at application. Each loan's existing mortgage balance isn't in the data, so line-to-value compares the new line to the home's value, not total debt. This is one team's book of business, not a national sample.
Use this data
Journalists and researchers are welcome to cite these figures with a link to this page. Suggested citation:
For reporters: Shawn Way is available for interviews on home equity and HELOC trends. Call (949) 569-7019 or see the About page.
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Sources
Official sources behind this guide.
- What is the difference between a home equity loan and a HELOC? · Consumer Financial Protection Bureau
- What you should know about home equity lines of credit (booklet, PDF) · Consumer Financial Protection Bureau