Is my HELOC offer good?
Enter the rate and fees from the offer you have. You'll see where it lands among the HELOCs Shawn Way's team actually closed this year for borrowers with your credit score. It's a free second opinion before you sign.
How do I know if my HELOC offer is good?
A HELOC offer is strong if its rate falls in the lower quarter of rates closed for borrowers with your credit score. Around the middle is typical. If your rate is higher than most borrowers with your score paid, it's worth getting a second quote before you sign; a quarter point on $100,000 is $250 a year.
These are rates at funding, not advertised rates, from the HELOCHQ HELOC Report.
Is my HELOC offer good?
Your rate is higher than 77% of the 2026 HELOCs Shawn Way's team closed for borrowers with 720–759 credit (481 loans). Their median rate was 8.20%, and most fell between 7.05% and 9.95%.
Compared with that median, your offer costs $1,050 more per year in interest on that balance. Opening fees, five years of annual fees and any extra interest add up to $7,125.
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Where to find the numbers on your offer
- Rate: on a HELOC, the APR shown in the early disclosure is the starting interest rate. If there's an introductory rate, enter the rate that applies after the intro period ends; that's the one you'll pay on most of the balance.
- Fees to open the line: origination, appraisal or valuation, title, recording and any broker fee. The lender's early disclosure lists them. If the lender says "no closing costs," check for an early-closure fee instead.
- Annual fee: listed separately, often $0 to $100 a year. Some lenders waive it for the first year.
What can make your offer different
Credit score is the biggest factor, which is why the checker compares you only with borrowers in your score range. Other things move the rate too: how much of your home's value you're borrowing against (under 70% gets better pricing), the line size, whether the home is your primary residence, your state, and whether the rate is fixed or variable. An offer above the median isn't necessarily a bad offer if one of those applies to you, but it's a reason to ask.
Look past the rate
Two offers with the same rate can differ in the margin over prime (which sets the rate after any intro period), the lifetime cap, the draw and repayment periods, and whether you can lock part of the balance at a fixed rate. Ten questions to ask any lender covers each one.
Questions people ask
Is the HELOC offer checker a quote?
No. It compares your offer with rates other borrowers closed at. Your own rate depends on your full application. Get your rate from Shawn for a real number.
Where does the HELOC offer checker's comparison data come from?
The offer checker compares your offer with HELOCs funded by Shawn Way's team at West Capital Lending this year, grouped by credit score, with borrower details removed. The HELOC Report explains the method.
Can I negotiate a HELOC offer?
Often, yes. Lenders sometimes lower the margin or waive fees when you show a competing written offer, especially for larger lines or existing customers. Ask for changes in writing.