Here are today's Home Equity Line of Credit (HELOC) rates. See your personalized rates and find out how much cash you can get with our online pre-approval. It only takes a few minutes and won't impact your credit score.
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The kind of HELOC you choose, fixed or variable, will change how much your interest rate goes up or down.
A higher credit score usually means a lower rate because it shows lenders you’re good at paying back money.
Where you live can affect your rate because lenders look at local housing markets and rules.
How long you take to pay back the loan can change the rate. Shorter loans often have lower rates.
The more equity you have in your home, the better your chances of getting a lower rate.
A home equity line of credit (HELOC) rate isn’t one-size-fits-all. It's unique to each homeowner in Connecticut. Lenders look at several key factors to determine your creditworthiness. At Better, we keep this process simple, transparent, and designed to help you make smart borrowing decisions.
The best HELOC rates in Connecticut tend to go to homeowners who present less risk to the lender.
💡 Tip: Improving your credit score before applying can help you qualify for a better rate.
HELOC rates in Connecticut are typically variable and based on the prime rate plus a margin. The size of the margin, in particular, affects how much borrowers pay for HELOCs.
Borrowers with higher credit scores and plenty of home equity can often secure the lowest margins and pay less in interest charges.
To get the best HELOC rates, aim for a FICO score of 740 or higher. To do this, pay down credit card balances to 30 percent of the credit limit or lower. Also, be sure to make on-time payments on all loans and credit card balances.
Borrowers with solid payment history and a low credit card balances in relation to the credit limit usually have higher credit scores. Keeping accounts open can also help since the age of credit account also affects credit scores.
HELOCs offer two primary rate structures that directly affect your monthly payments and total borrowing costs.
Variable-rate HELOCs adjust with market conditions, typically tied to the prime rate plus a lender-determined margin. Your rate might be expressed as "prime + 1.5%" for example.
Lenders set your margin based on your credit score and loan-to-value ratio. Homeowners with the strongest financial profiles tend to secure the lowest margins.
Most variable-rate HELOCs include rate caps that limit increases. These caps protect you from extreme rate spikes but still allow significant payment changes over time.
Variable rates work best for borrowers who plan to repay their HELOCs quickly or those who are OK with payments that fluctuate.
Fixed-rate HELOCs lock your interest rate for a set period. The rate stays the same regardless of market movements. This stability comes in several forms:
Fixed rates appeal to homeowners who are planning major renovations or debt consolidation, who value payment stability over potential savings.
Most HELOCs in Connecticut come with variable rates, but homeowners can find fixed-rate options. Homeowners who want fixed rates can also get home equity loans. These loans deliver a lump sum payment up front and then require sticking to a fixed repayment schedule.
At Better, all HELOCs are variable-rate, meaning your rate changes based on the market index (such as the Prime Rate). While this means your rate can fluctuate, it also allows you to take advantage of rate drops without refinancing.
Why we offer variable rates: Fixed-rate HELOCs usually start higher than variable-rate HELOCs, and locking in early can mean paying more than necessary if rates fall.
A home's location affects its HELOC options. Homes in areas where housing values increase steadily may be eligible for higher HELOC limits. Homes in markets more likely to lose value may face stricter approval guidelines.
In any area, a home with a lower mortgage balance, in comparison to the home's value, will have more home equity. More home equity means more borrowing power for the homeowner.
Homeowners can use automated valuation models (AVMs) to estimate their home's value, but these value estimates may not match the value a human appraiser attaches to the home during the HELOC application process.
Lenders will use the home's combined loan-to-value ratio, or CLTV, to set the home's maximum HELOC size. CLTV compares all the mortgage debt on a home to the value of a home.
Let's say your home in Connecticut is worth $300,000 and you have a primary mortgage balance of $200,000. You'd like to open a $40,000 HELOC. The primary mortgage, combined with the HELOC, would create $240,000 in mortgage debt.
This $240,000 is 80 percent of the home's $300,000 value, so the CLTV would be 80 percent.
Most lenders will be OK with a CLTV of 80 percent, assuming the borrower has the credit score and income to support the loan.
But if the home appraisal came in and showed the home was valued at $290,000 instead of $300,000, the CLTV would increase to about 83 percent.
This is how home locations can affect borrowing. If the home is located in an area where property values have increased by an average of 3 percent a year, this higher CLTV may not be a problem for long. But if the home value fell even more, to $280,000 for example, the CLTV could increase even more next year.
provide us 5 stars in
02/07/2025
I’m not a big fan of the whole mortgage refinancing process. There’s always delays and changes—usually more than a few surprises. But with Better, I was pleasantly surprised. No surprises and no delays. They were true to their word. James G was easy to work with and responsive. Better Mortgage is better.
See in Trustpilot →Yes, get a HELOC and save it for emergencies. You do not have to draw funds to keep the account open.
Loan Consultant
NMLS #1534146
With our process the standard turnaround time is roughly about 1-2 weeks to get you access to your funds. If your property happens to qualify for an appraisal waiver we may be able to get you access to your funds even sooner!
Senior Loan Consultant
NMLS #1984291
A common mistake is not fully understanding how their HELOC works — including draw requirements and how funds can be accessed. Knowing these details upfront helps homeowners choose the option that best fits their cash-flow needs.
Loan Consultant
NMLS #1534146
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APR¹ represents the lowest available rate and may be as high as 15.55%. Lowest rate assumes a credit limit of $150,000, a combined LTV of 64%, and a FICO score of 780+. Actual rates and available credit depend on creditworthiness, LTV, loan amount, occupancy, and point adjustments. Advertised rates are based on the Prime Rate as published in the Wall Street Journal; rates are current as of [08/12/2025] and are subject to change without notice. This is not a commitment to lend.
Only the initial rate quote uses a soft credit inquiry and will not impact your credit score. A full application will include a hard credit inquiry.
Better Mortgage Corporation is a direct lender. NMLS #330511. Equal Housing Lender. Not available in all states. Please refer to NMLS Consumer Access for licensing verification.
