Jun

2025

Texas A&M University Tuition and Fees

By Jenni Bojanin | Uncategorized | Comments Off

Texas A&M University Tuition and Fees

Texas A&M University is a public research university located in College Station, Texas, with a top-notch reputation. According to The Wall Street Journal, as of 2024, it ranked as the top school in the state, #11 of all public universities nationally, and #28 of all institutions in the U.S. This guide will give you information about the university’s admission requirements, the Texas A&M acceptance rate, tuition, financial aid, popular majors, and more.

Total Cost of Attendance

In 2024-2025, Texas A&M tuition and other expenses were as follows:

• In-state tuition: $13,154, a 0.4% increase over the previous year

• Out-of-state tuition: $40,124, a.0.5% decrease vs. the previous year

• Books and supplies: $1,104, a 22.7% increase over the previous year

• On-campus room and board: $13,008, a 1.1% decrease vs. the previous year

• On-campus fees: $6,610, a 4.0% increase over the previous year

• Off-campus room and board: $11,076, a 6.0% decrease vs. the previous year

• Off-campus fees: $6,610, a 4.0% increase over the previous year

Total costs, then, are as follows:

• In-state, on-campus total: $33,876, a 1.1% increase over the previous year

• In-state, off-campus total: $31,944, a 0.6% decrease vs. the previous year

• Out-of-state, on-campus total: $60,846, a 0.2% increase over the previous year

• Out-of-state, off-campus total: $58,914, a 0.8% decrease vs. the previous year

Financial Aid

As of mid-2025, the university covers tuition for students with family incomes of $60,000 or less through scholarships and grants. Texas A&M also provides tuition support grants for first-time freshmen and first-time transfer students with family incomes of up to $130,000.

In 2022-2023, 77% of first-time, full-time undergraduates received some kind of financial aid, including student loans. More specifically:

• Grants or scholarship: 61% of students received this type of aid with an average award of $11,607

• Federal grants: 20% of students received this type of aid with an average award of $5,783

• Pell grants: 20% of students received this type of aid with an average award of $5,486

• Other federal grants: 8% of students received this type of aid with an average award of $851

• State/local: 21% of students received this type of aid with an average award of $6,001

• Institutional: 59% of students received this type of aid with an average award of $7,887

• Student financial aid: 30% of students received this type of aid with an average amount of $8,772

• Federal student loans: 28% of students received this type of aid with an average amount of $5,072

• Other student loans: 6% of students received this type of aid with an average amount of $18,597

Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students who qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

• Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, or financial need.

• Grants: Generally based on financial need, these can come from federal, state, private, and nonprofit organizations.

• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state, federal, and school deadlines may differ.

You can find other financial aid opportunities on databases such as College Scholarship Service Profile (CSS) , a global college scholarship application used by select institutions to award financial aid.

Private Student Loans

In 2022-2023, 6% of students at Texas A&M received private student loans with an average amount of $18,597, as noted above.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, since it generally has better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

In 2024-2025, Texas A&M tuition was as follows:

• In-state: $33,876 per year, or $135,504 for four years.

• Out-of-state: $60,846 per year, or $243,384 for four years.

According to CollegeData.com, the average cost of attendance at a four-year public university is $115,360 for four years for in-state students and $186,920 for out-of-state students. Texas A&M, as you see, is more expensive than the norm.

Here’s some Texas Student Loan & Scholarship Information for you.

Undergraduate Tuition and Fees

In 2024-2025, Texas AM tuition was:

• In-state tuition and fees: $13,154

• In-state books and supplies: $1,104

• In-state total: $14,258

• Out-of-state tuition and fees: $40,124

• Out-of-state books and supplies: $1,104

• Out-of-state total: $41,228

In comparison, average tuition costs in the U.S. for in-state public university students was $11,260 and $29,150 for out-of-state residents. Texas A&M is somewhat more expensive for in-state students and significantly more expensive for those from out-of-state.

Graduate Tuition and Fees

In 2024-2025, graduate tuition and fees at Texas A&M were:

• In-state tuition: $6,885

• In-state fees: $4,863

• In-state total: $11,748

• Out-of-state tuition: $19,642

• Out-of-state fees: $4,863

• Out-of-state total: $24,505

The national average for graduate school is $21,730 per year for tuition and fees. While in-state students will find a Texas A&M degree less expensive than this figure, out-of-state students will pay a higher-than-average rate. Graduate loans can help with the cost of a post-college degree.

Cost per Credit Hour

Costs per credit hours at Texas A&M are:

• In-state undergraduate: $365 to $448

• Out-of-state undergraduate: $1,114 to 1,337

Campus Housing Expenses

In 2024-2025, room and board for on-campus students cost $13,008 and $11,076 for off-campus. There are numerous residence halls students can live in.

Park West is an independently-owned apartment complex on the campus property with numerous apartment buildings owned and operated by the university. A sampling of apartment rent prices as of mid-2025 range from $840 to $1,645, according to Apartments.com, depending on whether the unit is a studio or 2-3 bedrooms.

Texas A&M University Acceptance Rate

In fall 2023, 50,832 prospective students applied, and the Texas A&M University acceptance rate was 63%.

Admission Requirements

Students interested in Texas A&M can apply with their school record, rank, and GPA, as well as a personal statement. The SAT/ACT and English proficiency are also required.

SAT and ACT Scores

Students must submit SAT or ACT scores, as noted above.

In fall 2023, 80% of applicants to Texas A&M submitted SAT scores and 20% submitted ACT scores. The 25th and 75th scores were:

Subject	25th Percentile	75th Percentile
SAT Evidence-Based Reading/Writing	570	680
SAT Math	570	700
ACT Composite	25	31
ACT English	23	32
ACT Math	24	29

Popular Majors at Texas A&M University

At the end of the 2023-24 school year, 13,305 undergraduates received a degree from Texas A&M. Here are some of the most popular majors.

1. Multi/Interdisciplinary Studies

This program provides students with flexibility. They can include courses from a broad range of academic disciplines to gain knowledge of and pursue multiple professional pursuits.

Number of degrees: 595

2. Psychology

Students take courses in applied psychology, clinical work, theory, and research. Classes focus on different disciplines: abnormal psych, cognitive psych, developmental psych, and social psychology.

Number of degrees: 564

3. Biomedical Sciences

This degree is a speciality of applied biology with a focus on health and disease in humans and animals. The goal is to prepare students to contribute to health care, research, and education in this field.

Number of degrees: 546

4. Mechanical Engineering

The curriculum helps to prepare students to create manufacturing systems, robotics, electromechanical devices, control systems, and more. Graduates in mechanical engineering are among the most versatile engineers and enjoy professional employment in industry, government, consulting, and research organizations.

Number of degrees: 469

5. Communication

Undergraduates learn about modern theories and practices in communication and journalism. The coursework focuses on helping students to develop outstanding analytical skills.

Number of degrees: 443

6. Computer Science

This program trains students to understand key facets of computer technology. Among the topics covered are software development, algorithms, and computer systems.

Number of degrees: 392

7. Health and Wellness

The department of kinesiology and sports management is one of the largest at the university and includes physical education activities. Students are prepared to pursue a variety of health care-related careers.

Number of degrees: 355

8. Sales, Distribution, and Marketing Operations

Students take coursework to prepare them for the global economy: digital marketing, customer experience management, marketing analytics, creativity and brand management, and more.

Number of degrees: 311

9. Education

Texas A&M plays a leading role in producing teachers in the state in bilingual/ESL education, science, and math. The university offers 22 degree programs to fill diverse educational needs and goals.

Number of degrees: 308

10. Accounting

This degree prepares students to understand business operations, communicate financial information, and use data for decision-making. Most graduates work for public accounting firms, financial institutions, business firms, and the like.

Number of degrees: 297

Graduation Rate

Graduate rates at Texas A&M were, for students who started their studies in Fall 2017:

• 4 years: 61%

• 6 years: 84%

Post-Graduation Median Earnings

Texas A&M grads have median earnings of $72,097 currently. The national average is $68,516, putting Texas A&M grads somewhat above the norm.

Bottom Line

Texas A&M is a highly ranked public university that provides both in-state and out-of-state students with a quality education. Prices can be slightly higher than the norm, but the university gives financial aid, and it assists students with lower to middle-class family incomes. In addition, federal and private student loans can be an option to pay for an A&M education.

SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no origination fees.

View your rate

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).
SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

SOISL-Q225-058

Jun

2025

Week Ahead on Wall Street: Evolving Geopolitics

By Mario Ismailanji | | Comments Off

This week, financial markets are in a precarious situation, with a fast-moving geopolitical shock threatening to overshadow the latest economic data releases.

The direct military conflict that erupted between Israel and Iran on June 13 shattered a period of improving economic sentiment, triggering a classic flight to safety. The immediate market reaction saw crude oil prices spike and stocks sell off, as investors favored traditional safe haven assets like gold and government bonds.

The conflict marks a serious escalation from a years-long shadow war to overt, state-on-state hostilities, with both sides exchanging missile and drone attacks targeting military, nuclear, and energy infrastructure.

The primary risk for the global economy is a broadening of the conflict and disruption to energy supplies, particularly through the Strait of Hormuz, a critical channel for about a quarter of the world’s daily oil supply.

While a full blockade would be a very bad scenario, the present conflict has already added a significant risk premium to energy prices, which could fuel an inflation resurgence. The Federal Reserve’s latest economic projections, released just last week, may have already become stale.

An environment already grappling with significant uncertainty has gotten even more uncertain.

Economic and Earnings Calendar

Monday

• June S&P Global US PMIs: These indexes track how purchasing managers across different industries feel about the business environment.

• May Existing Home Sales: Most home transactions in any given month tend to come from the existing market, and as a result set the tone for the broader housing market.

• Fedspeak: Chicago Fed President Austan Goolsbee will participate in a moderated discussion and Q&A as part of the Milwaukee Business Journal’s Mid-Year 2025 Outlook event. New York Fed President John Williams and Fed Governor Adriana Kugler will host a Fed Listens event.

• Earnings: FactSet Research Systems (FDS)

Tuesday

• June Philadelphia Fed Non-Manufacturing Activity: The Philadelphia Fed’s survey of services executives in the region on business conditions and their outlook.

• April FHFA House Price Index: This is a broad measure of single-family house prices released by the Federal Housing Finance Agency.

• April S&P CoreLogic Case-Shiller Home Price Index: This is a private sector measure of national home prices. After a period of slight decline in the second half of 2022 and early 2023, the index returned to growth and is now at record highs.

• June Richmond Fed Manufacturing Activity: The Richmond Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

• June Richmond Fed Non-Manufacturing Activity: The Richmond Fed’s survey of services executives in the region on business conditions and their outlook.

• June Conference Board Consumer Confidence: How consumers feel about economic conditions affect their spending habits. This survey places a particular focus on job availability and the state of the labor market.

• Fedspeak: Cleveland Fed President Beth Hammack will discuss monetary policy at the Barclays-CEPR Monetary Policy Forum 2025. Fed Chair Jerome Powell will testify before the House Committee on Financial Services on The Federal Reserve’s Semi-Annual Monetary Policy Report. Williams will give keynote remarks at a Center for Economic Growth and NY CREATES event.

• Earnings: Carnival (CCL), FedEx (FDX)

Wednesday

• May New Home Sales: While only a minority of home transactions in any given month come from new constructions, these home prices tend to be more cyclical and give insight into developing trends.

• Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.

• Earnings: General Mills (GIS), Micron Technology (MU), Paychex (PAYX)

Thursday

• May Wholesale Inventories and Sales: Wholesalers often operate as an intermediary between manufacturers and retailers, serving as a key part of the goods supply chain.

• May Wholesale and Retail Inventories: Wholesalers and retailers often operate as intermediaries for the sale of manufactured products, serving as a key part of the goods supply chain.

• 1Q GDP Third Estimate: The primary measure of economic activity in the United States, which is measured as total expenditure on a country’s goods and services.

• May Chicago Fed National Activity Index: This is a monthly index put together that incorporates 85 indicators from four categories: production and income; employment, unemployment, and hours; personal consumption and housing; and sales, orders, and inventories.

• May Factory and Durable Goods Orders: These metrics give insight into underlying trends for leading cyclical indicators.

• June Kansas City Fed Manufacturing Activity: The Kansas City Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

• Weekly Jobless Claims: This high frequency labor market data gives insight into filings for unemployment benefits. Jobless claims have continued to show a labor market that remains strong despite having cooled.

• Fedspeak: Richmond Fed President Tom Barkin will discuss the economy at a New York Association for Business Economics event. Hammack will give opening remarks at an event hosted by the regional Fed bank on housing, the workforce, and economic development. Fed Governor Michael Barr will discuss community development and the Fed’s objectives at the Cleveland Fed bank conference.

• Earnings: McCormick & Company (MKC), Nike (NKE), Walgreens Boots Alliance (WBA)

Friday

• May Personal Income and Spending: These numbers give insight into how Americans are doing, which is important since consumer spending accounts for about two-thirds of economic growth in the United States.

• May Personal Consumption Expenditures Price Index: The Fed targets this inflation measure for its price stability mandate and believes PCE to be the best measure of consumers’ spending habits.

• June University of Michigan Consumer Sentiment: How consumers feel about economic conditions affect their spending habits. This survey places a particular focus on inflation and its trajectory.

• June Kansas City Fed Non-Manufacturing Activity: The Kansas City Fed’s survey of services executives in the region on business conditions and their outlook.

• Fedspeak: Williams will serve as chair for a Bank for International Settlements event. Hammack and Fed Governor Lisa Cook will participate in a Fed Listens event at the Cleveland Fed conference.

Want to see more stories like this?
On the Money is SoFi’s flagship newsletter
for all things personal finance.

Check it out

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

Jun

2025

Current Home Equity Loan Rates in San Francisco, CA Today

By Dana Paltao | 1_Web_ML | Comments Off

SAN FRANCISCO HOME EQUITY LOAN RATES TODAY

Current home equity loan

rates in San Francisco, CA.

Disclaimer: The prime rate directly influences the rates on HELOCs and home equity loans.

View your rate

Jun

2025

Current Home Equity Loan Rates in Albany, NY Today

By Dana Paltao | 1_Web_ML | Comments Off

ALBANY HOME EQUITY LOAN RATES TODAY

Current home equity loan

rates in Albany, NY.

Disclaimer: The prime rate directly influences the rates on HELOCs and home equity loans.

View your rate

Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.

Compare home equity loan rates in Albany.

Key Points

• Home equity loan rates in Albany are influenced by the prime rate and the personal finances of each borrower.

• Elevating your credit score and maintaining a healthy debt-to-income ratio can be your ticket to lower rates.

• Home equity loan rates can vary widely, so it’s wise to compare offers from multiple lenders.

• Use a home equity loan calculator to get a sense of what your monthly payments and total interest costs might be.

• Explore other options, like a home equity line of credit and a cash-out refinance, to ensure you find the one that best suits your needs.

Introduction to Home Equity Loan Rates

Home equity loan rates are a key consideration when you’re thinking about how to get equity out of your home in Albany. We’ll help you understand what they are, how they can affect your finances, and how to find the best rate and loan type for your personal situation as a homeowner. First step? Make sure you understand what is a home equity loan and how it differs from other ways of borrowing against your home’s equity.

How Do Home Equity Loans Work?

A home equity loan is a second mortgage (assuming you’re still paying off your first home loan). It uses your home as collateral and provides you with a lump sum of money. You’ll begin repaying the loan as soon as you receive it, with interest, and pay it back over a predetermined period — typically five to 30 years.

Because home equity loans usually have a fixed rate, your monthly payments will be consistent and predictable. Your home secures the loan, so the interest rates are often lower than those of unsecured personal loans. To qualify, you generally need at least 20% equity in your home.

Recommended: HELOC Monthly Payment Calculator

Where Do Home Equity Loan Interest Rates Originate?

Home equity loan rates change over time and even from borrower to borrower. They are influenced by a variety of factors, including the economy and your own financial picture. One big factor is the prime rate, which is influenced by the Federal Reserve’s policies. But once a lender sets its own rate, with the prime rate providing direction, the lender can adjust its rate based on the specific borrower. Your credit score, debt-to-income ratio, loan amount, and loan term can all impact the interest rate you receive.

How Interest Rates Impact Affordability

Now, let’s talk about how interest rates can tip the scales when it comes to home equity loan affordability. What might seem like a small interest rate variance can result in a hefty interest payment over time. Need proof? Take a look at the chart below, which shows you how different loan terms and rates affect monthly payments for varying loan amounts.

Loan Amount	Loan Term	Interest Rate	Monthly Payment
$100,000	20 years	8.00%	$836
	20 years	7.00%	$775
	10 years	8.00%	$1,213
	10 years	7.00%	$1,161
$50,000	20 years	8.00%	$418
	20 years	7.00%	$388
	10 years	8.00%	$607
	10 years	7.00%	$581
$25,000	20 years	8.00%	$209
	20 years	7.00%	$194
	10 years	8.00%	$303
	10 years	7.00%	$290

Home Equity Loan Rate Trends

Predicting interest rate movements with absolute certainty is no easy task, but history can be a helpful guide as to what is a “high” or “low” rate. The prime rate, which as we’ve noted is a key influencer of home equity loan rates, has its ups and downs.

Historical Prime Interest Rates

Since 2018, the prime rate has seen its share of ups and downs, ranging from a low of 3.25% in 2020 to a high of 8.50% in 2023. Take a look at the history of the prime rate to get a sense of how high or low it may go this year.

Source: TradingView.com

Historical Prime Interest Rates

Date	Prime Rate
9/19/2024	8.00%
7/27/2023	8.50%
5/4/2023	8.25%
3/23/2023	8.00%
2/2/2023	7.75%
12/15/2022	7.50%
11/3/2022	7.00%
9/22/2022	6.25%
7/28/2022	5.50%
6/16/2022	4.75%
5/5/2022	4.00%
3/17/2022	3.50%
3/16/2020	3.25%
3/4/2020	4.25%
10/31/2019	4.75%
9/19/2019	5.00%
8/1/2019	5.25%
12/20/2018	5.50%
9/27/2018	5.25%

Source: St. Louis Fed

How to Qualify for the Lowest Rates

To snag the most favorable home equity loan rates, there are a few things you can focus on before submitting your applications. By ticking these boxes, you’re not just qualifying for a loan—you’re setting yourself up for the best deal out there.

Maintain Sufficient Home Equity

As noted above, you’ll want to maintain at least 20% equity in your home. Crunch the numbers by subtracting your outstanding mortgage balance from your home’s current value. (Find the latter on an online real estate site.) Let’s say your mortgage balance is $300,000 and your home’s value is $550,000. That leaves you with $250,000 in home equity. Divide your equity number by the home value to arrive at a percentage. You can also use a home equity loan calculator to assess your borrowing power.

Build a Strong Credit Score

Lenders usually look for a credit score of 680 or higher when considering home equity loans, and many prefer a score of 700 or above. A strong credit score demonstrates financial responsibility and can lead to more favorable rates. To improve your credit score, focus on making timely payments, keeping credit card balances low, and avoiding new debt. Regularly check your credit report for errors and dispute any inaccuracies.

Manage Debt-to-Income Ratio

Your debt-to-income (DTI) ratio is a critical piece of the home equity loan puzzle. To determine yours, divide your monthly debts (car loan, student loan, credit card debt, etc.) by your gross monthly income. Lenders typically look for a ratio under 50%, but the sweet spot is 36% or less. The lower your DTI, the better your chances of securing a more competitive rate. To enhance your DTI, consider paying down existing debts and exploring opportunities to boost your income.

Obtain Adequate Property Insurance

Property insurance is often a must-have for home equity loans. Lenders want to be sure that your property, which is the collateral for the loan, is protected. Before you apply, make sure to check with your insurance provider to ensure that your coverage is up to date.

Current home equity loan rates by state.

Compare current home equity loan interest rates by state and find a home equity loan rate that suits your financial goals.

Select a state to view current rates:

Useful Tools & Calculators

Using a home equity loan calculator is a smart way to get a handle on the financial side of things. You can estimate your monthly payments by plugging in your loan amount, interest rate, and term. Here are three calculators you’ll find useful during your loan search:

Run the numbers on your home equity loan.

Home Equity Loan Calculator

Enter a few details about your home loan and we’ll provide you your maximum home equity loan amount.

Calculate
HELOC Payment Calculator

Punch in your HELOC amount and we’ll estimate your monthly payment amount for your HELOC.

Calculate
HELOC Interest Only Calculator

Use SoFI’s HELOC interest calculator to estimate how much monthly interest you’ll pay .

Calculate

Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.

Closing Costs and Fees

The closing costs for a home equity loan typically fall between 2% and 5% of the loan amount. An appraisal and credit report will be required and will be included in your costs. Other costs relate to document preparation, loan origination, a title search, and title insurance, for example. While no-closing-cost loans are an option, they generally come with higher rates.

Tax Deductibility of Home Equity Loan Interest

Here’s a tip: The interest on home equity loans can be tax-deductible if you use the funds to buy, build, or improve your home. As of 2025, couples filing jointly can deduct interest on up to $750,000 of qualified home equity loans, and single filers can claim interest on up to $375,000 in loans. To benefit from this, you’ll need to itemize your deductions when filing your tax return. Discuss this with a tax advisor; tax-deductibility rules can change year-to-year.

Recommended: Different Types of Home Equity Loans

Alternatives to Home Equity Loans

While home equity loans are a common choice in Albany, you may want to consider other options, such as a home equity line of credit (HELOC) or a cash-out refinance, which is a special type of mortgage refinance. Each of these options comes with its own set of benefits and risks.

Home Equity Line of Credit (HELOC)

A HELOC is a bit like a credit card, but one that is secured by the equity in your home. As you consider a HELOC vs. a home equity loan, here are some points of difference: HELOCs allow you to borrow money as you need it, vs. all at once, and you only pay interest on the amount you borrow.

There is a draw period, during which most lenders only require you to pay interest. A HELOC interest-only calculator can help you see what those payments might look like. Then there is a repayment period when you’ll repay the principal plus interest. HELOC interest rates are variable, so payment amounts can be unpredictable. To qualify, you’ll need a credit score of at least 680 (but 700 is better) and a debt-to-income ratio of no more than 50% (but 36% is ideal).

Cash-Out Refinance

A cash-out refinance gives you a lump sum based on your home equity. You can use the money to pay off higher-interest debts or cover renovation costs, for example. Lenders typically allow you to borrow up to 80% of your equity, although some may go higher. Most require a minimum credit score of 620 and a maximum DTI ratio of 43%. You can choose between a fixed or adjustable interest rate. When thinking about a cash-out refinance vs. a home equity line of credit, remember that the former is a completely new mortgage — so you’ll want to look carefully at how mortgage interest rates now compare to the rate on your original loan.

Here’s a quick reference guide to the three options:

	Home Equity Loan	HELOC	Cash-Out Refinance
Borrowing Limit	Up to 85% of borrower’s equity	Up to 90% of borrower’s equity	80% of borrower’s equity for most loans
Interest Rate	Fixed	Generally variable	May be fixed or variable
Type of Credit	Installment loan: Borrowers get a specific amount of money all at once that they then immediately begin repaying, with interest, in regular installments.	Revolving credit: Borrowers receive a line of credit. They have a draw period (5-10 years) during which they borrow and can only pay interest, followed by a repayment period (10-20 years) to repay the principal plus interest.	Installment loan: Borrowers receive a lump sum payment from the excess funds of their new mortgage, which has a new rate and repayment terms.
Repayment Term	Generally 5-30 years	A draw period of 5-10 years, followed by a repayment period of 10-20 years	Generally 15-30 years
Fees	Closing costs (typically 2-5% of the loan amount)	Closing costs (typically 2%-5% of the loan amount), plus other possible costs, depending on the lender (annual fees, transaction fees, inactivity fees, early termination fees)	Closing costs (typically 2-5% of the loan amount)

The Takeaway

As you’re thinking about a home equity loan, it’s important to build a strong credit score, manage your debt-to-income ratio, and obtain adequate property insurance. These factors can significantly impact the home equity loan rates you are offered and your overall eligibility. It’s a good idea to explore alternatives like a HELOC and a cash-out refinance and compare rates and terms to find the best financial solution for your needs.

SoFi now offers home equity loans. Access up to 85%, or $350,000, of your home’s equity. Enjoy lower interest rates than most other types of loans. Cover big purchases, fund home renovations, or consolidate high-interest debt. You can complete an application in minutes.

Unlock your home’s value with a home equity loan from SoFi.

View your rate

FAQ

What can you use a home equity loan for?

Home equity loans are a versatile financial tool you can use to cover large purchases, home improvements, and to consolidate high-interest debt. Their flexibility makes them an attractive option for significant expenses.

What’s the monthly payment on a $100,000 HELOC?

The beauty of a home equity line of credit (HELOC) is its flexibility. During the draw period, which can last 5, 10, or even 20 years, you may only need to pay interest on the amount you’ve borrowed, which isn’t necessarily going to be the full $100,000. If you did use the entire credit line of $100,000, your interest rate for repayment would likely be a variable one. But at an average of 8.00% and a repayment term of 20 years, you would pay $836 per month.

What would the payment be on a $30,000 home equity loan?

The payment on a $30,000 home equity loan is determined by the interest rate and loan term. For a 20-year fixed-rate loan at 8.00%, for example, the monthly payment would be approximately $251.

What might disqualify you from securing a home equity loan?

There are a few things that might prevent you from getting a home equity loan, such as not having enough equity in your home, having a low credit score, or having a high debt-to-income (DTI) ratio. Most lenders will want you to have at least 20% equity in your home, and a credit score of 680 or higher. A DTI ratio over 50% can also make it hard to get a loan. Additionally, not having enough property insurance or having a history of missed credit or loan payments can be a red flag for lenders.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

^²SoFi Bank, N.A. NMLS #696891 (Member FDIC), offers loans directly or we may assist you in obtaining a loan from SpringEQ, a state licensed lender, NMLS #1464945.
All loan terms, fees, and rates may vary based upon your individual financial and personal circumstances and state.
You should consider and discuss with your loan officer whether a Cash Out Refinance, Home Equity Loan or a Home Equity Line of Credit is appropriate. Please note that the SoFi member discount does not apply to Home Equity Loans or Lines of Credit not originated by SoFi Bank. Terms and conditions will apply. Before you apply, please note that not all products are offered in all states, and all loans are subject to eligibility restrictions and limitations, including requirements related to loan applicant’s credit, income, property, and a minimum loan amount. Lowest rates are reserved for the most creditworthy borrowers. Products, rates, benefits, terms, and conditions are subject to change without notice. Learn more at SoFi.com/eligibility-criteria. Information current as of 06/27/24.
In the event SoFi serves as broker to Spring EQ for your loan, SoFi will be paid a fee.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOHL-Q225-203

Browse New York home guides.

Browse home equity loan rates by state guides.

More home equity resources.

What is a Home Equity Line of Credit

Learn more
Different Types of Home Equity Loans

Learn more
HELOC vs Home Equity Loan: How They Compare

Learn more

Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.

Jun

2025

Current Home Equity Loan Rates in Evansville, IN Today

By Dana Paltao | 1_Web_ML | Comments Off

EVANSVILLE HOME EQUITY LOAN RATES TODAY

Current home equity loan

rates in Evansville, IN.

Disclaimer: The prime rate directly influences the rates on HELOCs and home equity loans.

View your rate

Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.

Compare home equity loan rates in Evansville.

Key Points

• Federal Reserve policies and your unique financial profile are the main factors in determining your home equity loan rate.

• Comparing rates from multiple lenders can lead to significant savings.

• A strong credit score and low debt-to-income ratio are crucial for qualifying for the best rates.

• Home equity loans are fixed-rate loans, so their monthly payment amount is stable.

• Good coverage with property insurance is a must before borrowing, particularly in flood-prone areas.

Introduction to Home Equity Loan Rates

A home equity loan can be a powerful financial tool for homeowners. It allows you to borrow a lump sum of money at a lower interest rate than you would have with an unsecured loan. This article will explore the current home equity loan rates in Evansville, Indiana, and explain how these rates are determined. We’ll discuss the benefits and risks of home equity loans and the application process. If you decide to move forward and apply for a home equity loan, you’ll have a solid understanding of how to secure the best rates and use this financial product to your advantage.

How Do Home Equity Loans Work?

A home equity loan is essentially a second mortgage that allows you to borrow a lump sum based on your home’s equity (which is the market value of your home minus the balance of any outstanding home loan). Many lenders will let you borrow up to 85% of your equity. These loans typically come with fixed interest rates and are repaid in monthly installments over a period of five to 30 years.

Recommended: Home Equity Loan Calculator

Where Do Home Equity Loan Interest Rates Originate?

The interest rates for different types of home equity loans are influenced by economic factors but also by each borrower’s personal profile. The Federal Reserve’s monetary policies have a ripple effect on lending rates. Lenders often adjust their rates according to the prime rate, which is a reflection of the Fed’s stance. Your credit score, debt-to-income (DTI) ratio, and credit history play a significant role, with higher scores typically translating to lower rates. Additionally, larger loan amounts and longer repayment terms may lead to higher rates due to the increased risk for the lender.