Current Home Equity Loan Rates in Stockton, CA Today
STOCKTON HOME EQUITY LOAN RATES TODAY
Current home equity loan
rates in Stockton, CA.
Disclaimer: The prime rate directly influences the rates on HELOCs and home equity loans.
Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.
Compare home equity loan rates in Stockton.
Key Points
• Home equity loans allow homeowners in Stockton to tap into their property’s value to borrow money.
• Rates are influenced by the prime rate, your credit score, and your debt-to-income (DTI) ratio.
• To qualify, you’ll need a minimum of 20% equity in your property.
• The fixed interest rates of home equity loans offer a consistent monthly payment experience.
• If you’re using the loan for significant home improvements, the interest may be tax-deductible.
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. 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 in Stockton, California.
First step? Make sure you understand what a home equity loan is and how it’s different from other methods of borrowing against your equity. By the time you’re through, you’ll be supremely prepared to determine if a home equity loan is the right financial move for you.First step? Make sure you understand what a home equity loan is and how it’s different from other methods of borrowing against your equity. By the time you’re through, you’ll be supremely prepared to determine if a home equity loan is the right financial move for you.
How 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 for a lump-sum loan, which you begin to repay soon after you receive the funds. You’ll repay the loan in equal monthly installments over a term that typically ranges from five to 30 years. Because the loan is secured by your home, you can expect a lower interest rate than you would get with an unsecured loan.
To qualify, you generally need at least 20% equity in your home. A home equity loan calculator can help you determine how much you might be able to borrow based on your equity.
Recommended: HELOC vs. Home Equity Loan
The Origin of Home Equity Loan Interest Rates
Interest rates on different types of home equity loans are influenced by a variety of factors, both economic and personal. Federal Reserve policy has a big impact on the lending market because lenders typically base their rates on the prime rate, which follows the Fed. Your credit score and debt-to-income (DTI) ratio are also key factors. The amount of the loan and the repayment term will affect the rate. Lender competition and business models also play a role in the rates they offer.
How Interest Rates Impact Home Equity Loan Affordability
It’s worth having some background in how interest rates are decided, because your interest rate will play a starring role in the affordability of your home equity loan. Even a fraction of a percentage point can lead to a significant difference in the amount you’ll pay in interest over the life of the loan. Consider this chart, which shows how loan amount, loan term, and interest rate weave together to dictate monthly payments. Of note: While longer loan terms usually mean lower monthly payments, they result in more interest paid over the life of the loan.
| Loan Amount | Loan Term | Interest Rate | Monthly Payment |
|---|---|---|---|
| $100,000 | 20 years | 8.00% | $836 |
| 7.00% | $775 | ||
| 10 years | 8.00% | $1,213 | |
| 7.00% | $1,161 | ||
| $50,000 | 20 years | 8.00% | $418 |
| 7.00% | $388 | ||
| 10 years | 8.00% | $607 | |
| 7.00% | $581 | ||
| $25,000 | 20 years | 8.00% | $209 |
| 7.00% | $194 | ||
| 10 years | 8.00% | $303 | |
| 7.00% | $290 |
Home Equity Loan Rate Trends
When you begin to think about borrowing money, you might find yourself more interested in the prime rate than ever before. Predicting interest rate movements is not an exact science, especially for amateurs. But having a sense of the history of the prime rate, as shown in this graphic and chart, can be helpful as it will educate you on what might be a “good” rate. Some borrowers will try to wait for a dip in rates, but it’s not always doable. When you need funds to renovate, pay for education expenses or consolidate debt, you can’t always wait for a super-low number.
Source: TradingView.com
| 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 qualify for the best home equity loan rates in Stockton, there are a few things you should look into before filing your first loan application. By paying attention to these factors, you can improve your chances of getting a home equity loan with a lower interest rate.
Maintain Sufficient Home Equity
To qualify for a home equity loan, you need to have at least 20% equity in your home. Calculating your equity is straightforward: Just subtract your mortgage balance from your home’s current value. For instance, if your mortgage balance is $400,000 and your home is estimated to be worth $550,000, your equity is $150,000. Divide that equity number by the estimated value to arrive at a percentage of equity. Most lenders allow you to borrow up to 85% of your $150,000 in equity, which in this case would be $127,500.
Build a Strong Credit Score
To ensure you are offered the most attractive home equity loan rates, aim for a credit score of 700 or higher. Some lenders are okay with 680, but in general, the higher the score, the more it speaks to your financial finesse. Want to give your score some love? Focus on paying your bills on time, whittling down credit card balances, and resisting new debt. Oh, and don’t forget to give your credit report a once-over for any errors that need disputing.
Manage Debt-to-Income Ratio
Your DTI ratio is a key piece of the puzzle when it comes to qualifying for a home equity loan. Lenders typically look for a DTI ratio that’s below 50%, but ideally, they’d like to see it under 36%. This ratio is calculated by dividing your total monthly debt payments by your gross monthly income. A lower DTI ratio suggests you’re better equipped to handle more debt, which could translate to more attractive home equity loan rates. To boost your DTI, think about chipping away at your existing debts, finding ways to increase your income, or doing both.
Obtain Adequate Property Insurance
Property insurance is a must for most home equity loans, as it is for mortgages generally. It protects both you and the lender by covering potential damage to the property. Make sure you have enough coverage for the standard risks such as fire or theft, as well as any specific hazards in your area.
Useful Tools & Calculators
Online tools and calculators can help you understand your loan rates and terms, and plan for the future. These are a few of our favorites.
Run the numbers on your home equity loan.
-
Home Equity Loan
CalculatorEnter a few details about your home loan and we’ll provide you your maximum home equity loan amount.
-
HELOC Payment
CalculatorPunch in your HELOC amount and we’ll estimate your monthly payment amount for your HELOC.
-
HELOC Interest Only Calculator
Use SoFI’s HELOC interest calculator to estimate how much monthly interest you’ll pay .
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
Closing costs for home equity loans typically range from 2% to 5% of the loan amount. These fees can include an appraisal, credit report, and title insurance. Some lenders waive these fees, though you’ll want to get quotes from different lenders and look carefully at whether the lack of fees is reflected in a higher interest rate.
Recommended: What Is a Home Equity Line of Credit?
Tax Deductibility of Home Equity Loan Interest
Here’s a tip: The interest on home equity loans could be tax-deductible if the funds are used to purchase, build, or make significant improvements to your home. This tax break is currently set to last through 2025, and interest on home loans may continue to be deductible in 2026, depending on how tax policy is set. (A tax advisor can provide personalized advice. You may need professional help to claim this deduction, as you’ll have to itemize your deductions on your tax return.) For single filers, interest is deductible on the first $375,000 of loan debt. Spouses filing together can deduct the interest on up to $750,000 of debt.
Alternatives to Home Equity Loans
While home equity loans are a popular choice, there are other two options to consider: a home equity line of credit (HELOC) and a cash-out refinance. HELOCs offer more flexibility by allowing you to draw funds as needed up to a set limit. A cash-out refinance replaces your existing mortgage with a new one. Let’s take a closer look:
Home Equity Line of Credit (HELOC)
A home equity loan gives you a lump sum in one payment. A HELOC, on the other hand, is more like a credit card. It gives you a credit limit, and you can borrow as much as you need (up to that limit) whenever you need it. You only pay interest on the amount you actually borrow, and during the loan’s initial draw period (often 10 years), you usually don’t have to repay the principal. (A HELOC interest-only calculator can help you see what you might owe depending on how much of the credit line you use.) After the draw period, a repayment period begins. You’ll repay what you owe plus interest. (This is when a HELOC repayment calculator is useful.)
HELOCs usually have variable interest rates. To qualify, you’ll typically need a credit score of 680 or higher (700 is better) and a DTI of 50% or less (36% is the ideal). HELOCs are a good choice if you’re not sure how much you’ll need to borrow. Many lenders let you borrow up to 90% of your home’s equity.
Here’s a quick look at how the two compare:
| HELOC | Home Equity Loan | |
|---|---|---|
| Type | Revolving line of credit | Installment loan |
| Interest Rate | Usually variable-rate | Usually fixed-rate |
| Repayment | Repay only what you borrow plus interest; you may have the option to make interest-only payments during the draw period. | Starts immediately at a set monthly payment |
| Disbursement | Charge only the amount you need | Lump sum |
Cash-Out Refinance
A cash-out mortgage refinance gives you a new, larger mortgage and a lump sum of cash based on your home equity. You’ll need at least a 620 credit score and a maximum 43% debt-to-income ratio for this option. Your loan will either be a fixed or adjustable-rate mortgage. An adjustable rate might give you a lower rate and more cash, but your rate could go up later.
As you think about a cash-out refinance vs. a home equity line of credit or a home equity loan, there are some considerations. A refi means a brand-new loan. You’ll want to make sure you aren’t sacrificing a sweet interest rate when you give up your old loan. Compare all the costs. For some people, having one payment with a refinance instead of two (an original mortgage plus a home equity loan) is a benefit. Others are fine managing two payments.
The Takeaway
As you consider a home equity loan in Stockton, take a moment to assess your financial landscape. Make sure you have at least 20% equity and have cultivated a robust credit score. Do what you can to minimize your DTI ratio. These are key stepping stones to securing your most favorable home equity loan rate. Consider loan options from multiple lenders and remember to look at closing costs and fees as well as interest rates.
SoFi now offers home equity loans. Access up to 85%, or $750,000, 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.
FAQ
What can a home equity loan be used for?
Home equity loans are a versatile financial tool. The money you borrow with a home equity loan can be used for home improvements, educational expenses, medical bills, or debt consolidation. These loans provide a lump sum of money with fixed-rate interest, which can make budgeting for repayment easier. In some cases, the interest on a home equity loan may be tax deductible if the funds are used for home improvements.
What’s the monthly payment on a $100,000 HELOC?
The monthly payment on a $100,000 HELOC will depend on how much of your credit line you’ve used. During the draw period, which is often a decade, you’re only paying interest on the amount you’ve borrowed. For example, if you take out the full $100,000 at an interest rate of 5.50%, your monthly interest payment would be around $458. Once the draw period ends, you enter the repayment period, which is usually 20 years, and you’ll be paying back both the principal and interest. At that point, if the interest rate is still 5.50%, the monthly payment would be $688.
What would a $25,000 home equity loan payment be?
The monthly payment on a $25,000 home equity loan varies with the rate and term. For instance, at an 8.00% interest rate over a 15-year term, the monthly payment would be about $239. Extending the term to 20 years would lower the payment to $209. This makes it more affordable, but keep in mind that it would also increase the total interest paid over the life of the loan.
What might prevent you from securing a home equity loan?
There are a few things that could keep you from securing a home equity loan. Lenders generally look for a minimum credit score of 680 and a debt-to-income (DTI) ratio under 50%. Falling short on either of these could mean you don’t qualify for the most competitive home equity loan rates, or don’t qualify at all. You’ll also need to have at least 20% equity in your home. And if you live in an area that’s prone to natural disasters, having insufficient property insurance could be a dealbreaker.
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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.
*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-Q225-326
More home equity resources.
-
What is a Home Equity Line of Credit
-
Different Types of Home Equity Loans
-
HELOC vs Home Equity Loan: How They Compare
Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.
SoFi APY Boost Terms & Conditions
SoFi APY Boost Terms & Conditions
If you opened a SoFi Checking & Savings account between June 10th and June 24th, 2025,
see “June 0.20% APY Savings Boost”
If you opened a SoFi Checking & Savings account between July 10th and August 4th, 2025,
see “July 0.20% APY Savings Boost”
If you opened a SoFi Checking & Savings account after August 5th, 2025,
see “August 0.70% APY Savings Boost”
June 0.20% APY Savings Boost – Terms & Conditions
SoFi Plus members can earn up to 4.00% Annual Percentage Yield (APY) with a limited-time 0.20% APY Boost to the current Savings APY of 3.80% (rate current as of 6/10/2025). Rates are variable and subject to change.
SoFi Boost APY Promotion Terms
The following terms and conditions (the “Terms”) apply to the SoFi APY Boost Promotion (the “Promotion”), which allows Eligible Members (as defined below) to receive a 0.20% annual percentage yield (“APY”) boost to the APY earned on their SoFi Savings account (the “0.20% APY Boost”) for up to six months by completing the required actions described below.
Promotion Period:
August 5, 2025 at 12:00 a.m. E.T. – January 31, 2026 at 11:59 p.m. E.T.
Who is eligible for the Promotion?
Members who are new to SoFi Checking and Savings AND new to SoFi Plus as of 6/10/25 are eligible for this promotion (“Eligible Members”). Members who have previously opened a SoFi Checking and Savings account and/or previously enrolled in SoFi Plus are not eligible. You may have previously enrolled in SoFi Plus by either receiving eligible direct deposits or paying the SoFi Plus Subscription Fee. Eligible Members must complete the qualifying activities described below in order to receive the 0.20% APY Boost.
What qualifying activities do I need to complete to earn the 0.20% APY Boost?
In order to receive the 0.20% APY Boost, you must complete all qualifying activities described in either Option 1 or Option 2 below.
Option 1
Open a new SoFi Checking and Savings account between 6/10/2025 and 6/24/2025; AND
Enroll in SoFi Plus within 60 days after opening your SoFi Checking and Savings account by either:
Setting up and maintaining Eligible Direct Deposit, or
Paying and maintaining the SoFi Plus Subscription Fee.
AND
Maintain your SoFi Plus subscription for a period of six months.
Option 2
Enroll in SoFi Plus by paying the SoFi Plus Subscription Fee between 6/10/2025 and 6/24/2025; AND
Open a new SoFi Checking and Savings account by 6/24/2025; AND
Maintain your SoFi Plus Subscription Fee for a period of six months.
When will I begin earning the 0.20% APY Boost?
Once you have completed all qualifying activities described in either Option 1 or Option 2 above, you will begin receiving the 0.20% APY Boost on your Savings account balances by the following business day. However, if you enroll in SoFi Plus by setting up Eligible Direct Deposit, you will begin receiving the 0.20% APY Boost within one business day after SoFi recognizes your Eligible Direct Deposit.
How long will I earn the 0.20% APY Boost?
You will continue to receive the 0.20% APY Boost for a period of up to six months (the “Boost Period”), provided that you remain enrolled in SoFi Plus for the full Boost Period. In order to remain enrolled in SoFi Plus for the full Boost Period, you must receive an Eligible Direct Deposit into your Checking or Savings account every 30 days or pay the SoFi Plus Subscription Fee every 30 days. See the SoFi Plus Terms and Conditions for additional details.
During the Boost Period, if you lose your SoFi Plus status for any period, you will not earn the 0.20% APY Boost for that period. Your rates will revert to the standard rates set forth on the SoFi Bank Rate Sheet at https://www.sofi.com/legal/banking-rate-sheet. However, you will be eligible to receive the 0.20% APY Boost again during the remainder of the Boost Period by re-enrolling in SoFi Plus.
Additional Important Terms:
Only one promotional APY offer may apply at any time. The 0.20% APY Boost may not be combined with other promotional rates.
Promotion is non-transferable and limited to one 0.20% APY Boost per account. In the case of joint accounts, only the first account holder that opens the new Checking and Savings account is eligible for the boost.
SoFi reserves the right to modify, suspend, or terminate the Promotion at any time without notice.
Standard rates are variable and subject to change at any time. There is no minimum balance requirement. Fees may reduce earnings. For current rates and additional disclosures, please see: https://www.sofi.com/legal/banking-rate-sheet.
July 0.20% APY Savings Boost – Terms & Conditions
SoFi Plus members can earn up to 4.00% Annual Percentage Yield (APY) with a limited-time 0.20% APY Boost to the current Savings APY of 3.80% (rate current as of 7/10/2025). Rates are variable and subject to change.
SoFi Boost APY Promotion Terms
The following terms and conditions (the “Terms”) apply to the SoFi APY Boost Promotion (the “Promotion”), which allows Eligible Members (as defined below) to receive a 0.20% annual percentage yield (“APY”) boost to the APY earned on their SoFi Savings account (the “0.20% APY Boost”) for up to six months by completing the required actions described below.
Who is eligible for the Promotion?
Members who are new to SoFi Checking and Savings AND new to SoFi Plus as of 7/10/25 are eligible for this promotion (“Eligible Members”). Members who have previously opened a SoFi Checking and Savings account and/or previously enrolled in SoFi Plus are not eligible. You may have previously enrolled in SoFi Plus by either receiving eligible direct deposits or paying the SoFi Plus Subscription Fee. Eligible Members must complete the qualifying activities described below in order to receive the 0.20% APY Boost.
What qualifying activities do I need to complete to earn the 0.20% APY Boost?
In order to receive the 0.20% APY Boost, you must complete all qualifying activities described in either Option 1 or Option 2 below.
Option 1
Open a new SoFi Checking and Savings account between 7/10/2025 and 8/12/2025; AND
Enroll in SoFi Plus within 60 days after opening your SoFi Checking and Savings account by either:
Setting up and maintaining Eligible Direct Deposit, or
Paying and maintaining the SoFi Plus Subscription Fee.
AND
Maintain your SoFi Plus subscription for a period of six months.
Option 2
Enroll in SoFi Plus by paying the SoFi Plus Subscription Fee between 7/10/2025 and 8/12/2025; AND
Open a new SoFi Checking and Savings account by 8/12/2025; AND
Maintain your SoFi Plus Subscription Fee for a period of six months.
When will I begin earning the 0.20% APY Boost?
Once you have completed all qualifying activities described in either Option 1 or Option 2 above, you will begin receiving the 0.20% APY Boost on your Savings account balances by the following business day. However, if you enroll in SoFi Plus by setting up Eligible Direct Deposit, you will begin receiving the 0.20% APY Boost within one business day after SoFi recognizes your Eligible Direct Deposit.
How long will I earn the 0.20% APY Boost?
You will continue to receive the 0.20% APY Boost for a period of up to six months (the “Boost Period”), provided that you remain enrolled in SoFi Plus for the full Boost Period. In order to remain enrolled in SoFi Plus for the full Boost Period, you must receive an Eligible Direct Deposit into your Checking or Savings account every 30 days or pay the SoFi Plus Subscription Fee every 30 days. See the SoFi Plus Terms and Conditions for additional details.
During the Boost Period, if you lose your SoFi Plus status for any period, you will not earn the 0.20% APY Boost for that period. Your rates will revert to the standard rates set forth on the SoFi Bank Rate Sheet at https://www.sofi.com/legal/banking-rate-sheet. However, you will be eligible to receive the 0.20% APY Boost again during the remainder of the Boost Period by re-enrolling in SoFi Plus.
Additional Important Terms:
Only one promotional APY offer may apply at any time. The 0.20% APY Boost may not be combined with other promotional rates.
Promotion is non-transferable and limited to one 0.20% APY Boost per account. In the case of joint accounts, only the first account holder that opens the new Checking and Savings account is eligible for the boost.
SoFi reserves the right to modify, suspend, or terminate the Promotion at any time without notice.
Standard rates are variable and subject to change at any time. There is no minimum balance requirement. Fees may reduce earnings. For current rates and additional disclosures, please see: https://www.sofi.com/legal/banking-rate-sheet.
August 0.70% APY Savings Boost – Terms & Conditions
SoFi Plus members can earn up to 4.00% Annual Percentage Yield (APY) with a limited-time 0.70% APY Boost to the current Savings APY of 3.30% (rate current as of 12/23/2025). Rates are variable and subject to change.
SoFi Boost APY Promotion Terms
The following terms and conditions (the “Terms”) apply to the SoFi APY Boost Promotion (the “Promotion”), which allows Eligible Members (as defined below) to receive a 0.70% annual percentage yield (“APY”) boost to the APY earned on one SoFi Savings account (the “0.70% APY Boost”) for up to six months by completing the required actions described below. If you have already received this Boost on one account, you are not eligible to receive the 0.70% APY Boost on a subsequent account.
Promotion Period: August 5, 2025 at 12:00 a.m. E.T. - March 30, 2026 at 11:59 p.m. E.T.
Who is eligible for the Promotion?
Members who are new to SoFi Checking and Savings AND who have not previously enrolled in SoFi Plus as of 8/5/25 are eligible for this promotion (“Eligible Members”). Members who have previously opened a SoFi Checking and Savings account and/or previously enrolled in SoFi Plus are not eligible. Eligible Members must complete the qualifying activities described below in order to receive the 0.70% APY Boost.
What qualifying activities do I need to complete to earn the 0.70% APY Boost?
In order to receive the 0.70% APY Boost, you must complete all qualifying activities described in either Option 1 or Option 2 below.
Option 1
Open a new SoFi Checking and Savings account between 8/5/2025 and 3/30/2026;
AND
Complete one of the following activities within 60 days after opening your SoFi Checking and Savings account:
Enroll in SoFi Plus by paying the SoFi Plus Subscription Fee; OR
Receive an Eligible Direct Deposit into your SoFi Checking and Savings account;
OR
Receive $5,000 in Qualifying Deposits into your SoFi Checking and Savings account;
AND pay the SoFi Plus Subscription Fee every 30 calendar days, or receive an Eligible Direct Deposit or $5,000 in Qualifying Deposits every 31 calendar days for a period of six months.
Option 2
Enroll in SoFi Plus by paying the SoFi Plus Subscription Fee between 8/5/2025 and 3/30/2026; AND
Open a new SoFi Checking and Savings account by 3/30/2026; AND
Maintain your SoFi Plus Subscription Fee for a period of six months.
When will I begin earning the 0.70% APY Boost?
Once you have completed all qualifying activities described in either Option 1 or Option 2 above, you will begin receiving the 0.70% APY Boost on your Savings account balances by the following business day. However, if you set up Eligible Direct Deposit, you will begin receiving the 0.70% APY Boost within one business day after SoFi recognizes your Eligible Direct Deposit.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the 0.70% APY Boost, we encourage you to check your APY Details page the day after your Eligible Direct Deposit arrives. If your 0.70% APY Boost is not showing, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the 0.70%% APY Boost from the date you contact SoFi.
How long will I earn the 0.70% APY Boost?
You will continue to receive the 0.70% APY Boost for a period of up to six months (the “Boost Period”), provided that you remain enrolled in SoFi Plus for the full Boost Period. In order to remain enrolled in SoFi Plus for the full Boost Period, you must receive an Eligible Direct Deposit into your Checking or Savings account every 30 days or pay the SoFi Plus Subscription Fee every 30 days. See the SoFi Plus Terms and Conditions for additional details.
During the Boost Period, if you lose your SoFi Plus status for any period, you will not earn the 0.70% APY Boost for that period. Your rates will revert to the standard rates set forth on the SoFi Bank Rate Sheet at https://www.sofi.com/legal/banking-rate-sheet. However, you will be eligible to receive the 0.70% APY Boost again during the remainder of the Boost Period by re-enrolling in SoFi Plus.
Additional Important Terms:
Only one promotional APY offer may apply at any time. The 0.70% APY Boost may not be combined with other promotional rates.
Promotion is non-transferable and limited to one 0.70% APY Boost per member. Any subsequent accounts opened by the member will not receive the 0.70% APY Boost.
SoFi reserves the right to modify, suspend, or terminate the Promotion at any time without notice.
Standard rates are variable and subject to change at any time. There is no minimum balance requirement. Fees may reduce earnings. For current rates and additional disclosures, please see: https://www.sofi.com/legal/banking-rate-sheet.
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SoFi members will soon be able to buy, sell, and hold a selection of cryptocurrencies like Bitcoin, Ethereum, and Solana. Over time, SoFi intends to offer stablecoins and a wide range of services, such as including providing members the ability to borrow against their assets, expanding payment options, and introducing new staking features.
This is just one of the many ways SoFi is focusing on the future of financial services—and giving you more control and choice over your money.
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We’ll let you know as soon as crypto becomes available.
Until then, stay tuned.
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– seamlessly.
Later this year, we’ll offer SoFi Checking and Savings members international money transfers in the SoFi app, at faster speeds and lower costs than traditional services, putting more money in people’s pockets.
SoFi offers members many unique ways to pay, including via email, phone numbers, domestic wire transfers, debit transactions, Zelle®*, and soon worldwide payments.
This is just one of the many ways SoFi is giving you more control and choice over your money.
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Members will be able to access global remittance services through SoFi Checking and Savings. SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC.
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v1 – Current HELOC Rates in Sacramento, CA Today
SACRAMENTO HELOC RATES TODAY
Current HELOC rates in
Sacramento.
Disclaimer: The prime rate directly influences the rates on HELOCs and home equity loans.
Turn your home equity into cash. Call us for a complimentary consultation or get prequalified online.
Compare HELOC rates in Sacramento.
Key Points
• Comparing offers from various lenders is crucial to finding the best home equity line of credit (HELOC) rates in California.
• Factors such as home equity, credit score, and income stability influence HELOC rates offered in California.
• HELOCs have two phases: draw and repayment, with variable interest rates.
• Understanding the prime rate and economic factors may help borrowers anticipate fluctuations in California HELOC rates.
• Maintaining a high credit score and low debt-to-income ratio improves eligibility.
Introduction to HELOC Rates
Congratulations. If you’re looking at rates for a home equity line of credit (HELOC) in California, then chances are you’ve been making your home loan payments and building up equity in your home. Now it’s time to see what rate and terms you might qualify for.
But first: Use this guide to understand the underlying factors that influence HELOC rates and choose the best offer for your personal financial needs. You’ll come away knowing what drives rates in California and how to put your best foot forward with a prospective lender. We’ll even take you step by step through the application process. And because a HELOC is just one way to get equity out of your home, we’ll also explain alternatives to HELOCs.
Ready to maximize your borrowing potential and achieve your financial objectives? Let’s start at the very beginning.
What Is a HELOC?
A HELOC is a revolving credit line with your home as collateral. The amount of your credit line will depend on your home’s value and your mortgage balance. Qualified borrowers are often able to borrow as much as 90% of their equity with a HELOC. You can borrow, repay, and borrow again against the credit line.
HELOCs have two phases: draw and repayment. It’s important to understand them both.
The Draw Period
During the draw period of a HELOC, usually lasting 10 years, you can access funds up to your credit limit. Payments during this period are typically interest-only, with principal payments being optional. If you do pay down the principal, you can borrow against the full credit line again. Using a HELOC monthly payment calculator can help you manage your finances effectively during this phase.
The Repayment Period
The repayment period of a HELOC typically lasts 10 to 20 years, during which borrowing ends and the principal is paid back with interest. Interest rates are usually variable, making monthly repayment amounts somewhat unpredictable. A HELOC repayment calculator can show you what your monthly payments would be at various interest rates.
Where Do HELOC Interest Rates Come From?
HELOC interest rates are variable and can change over the life of the credit line. But they are influenced by the prime rate, which is the rate banks and other lenders charge customers deemed to be at lowest risk of default. Lenders look to Federal Reserve rates when setting the prime rate.
Variable vs. Fixed Interest Rates
As noted above, HELOCs are characterized by variable interest rates, which are subject to change over the course of the loan’s duration. Initially, variable interest rates are lower compared to fixed rates, but they can increase or decrease in accordance with prevailing market conditions. Consequently, these fluctuations have an impact on your HELOC rates within the state of California.
How Interest Rates Impact HELOC Affordability
As you might imagine, interest rates can have a significant impact on the affordability of a HELOC. When the time comes to repay a $60,000 HELOC, having an interest rate of 6.00% over a 20-year term would mean a monthly payment of $430. An interest rate of 7.00% would equal a payment of $465. And over the entire term, the customer with the 7.00% rate would pay an additional $8,477 in interest. The more you borrow and the higher the interest rate, the larger these numbers become.
HELOC Interest Rate Trends
As we’ve seen, HELOC rates are tied to the prime interest rate set by banks and other lenders. Getting to know the history of the average prime rate (shown in the chart and graphic below) can help you understand where current HELOC rates in California fall on the spectrum.
Since 2018, the prime rate has ranged from a low of 3.25% in 2020 to a high of 8.50% in 2023. These fluctuations can have a direct and significant impact on HELOC vs. home equity loan considerations, in part because while HELOC rates are variable, home equity loan rates are usually fixed (more on that below).
Historical Prime Interest Rate
| Date | U.S. 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 | 5.5% |
| 9/27/2018 | 5.25% |
Source: U.S. Federal Reserve
Tools & Calculators
Online calculators can be useful as you prepare to borrow against your home’s equity, helping you get a handle on how much you might be able to borrow and what monthly payments might look like. You can even plug in different interest rates to see how having a variable-rate loan might change your monthly bills. Here are three of our favorite calculators:
Run the numbers on your HELOC.
-
Home Equity Loan Calculator
Enter a few details about your home loan and we’ll provide you your maximum home equity loan amount.
-
HELOC Payment Calculator
Punch in your HELOC amount and we’ll estimate your monthly payment amount for your HELOC.
-
HELOC Interest Only Calculator
Use SoFI’s HELOC interest calculator to estimate how much monthly interest you’ll pay .
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.
How to Qualify for a Competitive HELOC Rate
To be eligible for competitive HELOC rates in California, it is imperative to focus on improving your credit score, maintaining a steady source of income, and ensuring that your loan-to-value ratio remains low. These factors play a pivotal role in determining your eligibility for more favorable HELOC offers, as they provide lenders with a comprehensive assessment of your financial situation and creditworthiness.
Improve Your Credit Score
By maintaining timely payments and reducing credit card balances, you can significantly enhance your credit score, which is important to securing more favorable HELOC rates in the state of California. A higher credit score substantially increases your chances of qualifying for more advantageous HELOC options, providing you with greater financial flexibility and opportunities.
Calculate Your Debt-to-Income Ratio (DTI)
Your debt-to-income (DTI) ratio, calculated by dividing your monthly debt payments by your gross monthly income, serves as a good indicator in home equity lending. Typically, home equity lenders prefer a DTI below 50%, but an even lower DTI is generally more favorable.
Application Process for a HELOC in California
The application process for a HELOC in California involves a series of steps to demonstrate your financial fortitude. Do them correctly and you have the best chance of obtaining your optimal HELOC rate.
The process of applying for a HELOC, from application through closing, can take 30 to 60 days:
Step 1. Run the numbers.
Check your credit score, calculate your DTI ratio, and use an online estimate of your home’s value to make sure you have at least 15% home equity before applying for a HELOC.
Step 2. Compare lenders.
Visit lender sites or check in with your bank’s mortgage officer to compare loan qualification requirements, minimums and maximums, fees, the length of the draw and repayment periods. Some lenders offer more competitive rates and benefits like discounts for automatic payments or remote closing. This ensures an informed decision.
Step 3: Submit your application.
Submitting your HELOC application online or in person is the next step. Submitting a complete and accurate application increases your chances of approval and helps you secure competitive HELOC rates in California.
Step 4: Get an appraisal.
After you submit your application, a home appraisal is typically required. This might be an in-person appraisal, or a lender may use an automated valuation model (AVM) appraisal, where an algorithm uses existing data to compute a home’s estimated value. The appraisal helps determine the amount of equity you have in your home, which affects the HELOC rate you’ll qualify for. A higher appraisal value can lead to a larger line of credit.
Step 5: Prepare for closing.
Once you find a HELOC offer at a comfortable interest rate and with terms you consider favorable, you’re ready to close on the loan agreement. Before accessing your HELOC funds, you’ll sign loan documents and pay necessary fees. Lenders can make funds available as quickly as three days following the closing of the HELOC. Ensuring all paperwork is in order and fees are paid promptly helps you access your funds quickly and efficiently.
Tax Benefits and Considerations
Homeowners can deduct interest paid on a HELOC if the borrowed funds are used for buying, building, or significantly improving their primary residence. Deductions are limited to interest on the first $375,000 of the mortgage principal for individual taxpayers ($750,000 for married couples filing jointly). To take this deduction, you’ll need to itemize deductions on your tax return; consult a tax advisor for help.
Closing Costs and Fees
HELOC closing costs are lower than home-buying or cash-out refinance costs. An appraisal fee, ranging from $300 to $600, is often the highest expense. Other costs include application, loan origination, and administrative fees. Some lenders charge annual maintenance fees, transaction fees, inactivity fees, or early termination fees.
Alternatives to HELOCs
HELOCs aren’t the only way to take advantage of your hard-earned home equity. By understanding the types of home equity loans and California HELOC and home equity loan rates, individuals can make smart decisions and be prepared for any potential fluctuations in the market.
Home equity loans, cash-out refinancing (a special type of mortgage refinance), and personal loans are other financing options. Let’s take a closer look:
Home Equity Loan
It’s important to understand both what is a HELOC and what is a home equity loan when you’re thinking about borrowing. Home equity loans offer a lump-sum loan at a fixed interest rate. Borrowers can typically access up to 85% of their home’s equity (minus any existing loan balance). Home equity loans are well suited to large, one-time expenses, such as a renovation or debt consolidation. As with a HELOC, you can use a calculator to determine your borrowing capacity.
Cash-Out Refinance
A cash-out refinance lets homeowners borrow against their home equity by refinancing for more than they owe. They can pay off their initial loan and are then left with a lump sum to use as they wish. As you compare a cash-out refinance vs a home equity line of credit or home equity loan, remember that a refi gets you an entirely new mortgage — and a new interest rate. If you have a sweet rate on your current mortgage, refinancing might not be the best bet. Do the math to compare costs before you decide what suits your overall home loan strategy.
Personal Loan
Personal loans, like home equity loans, can be used to cover a wide range of expenses. However the repayment term tends to be shorter: 2 to 7 years. Personal loan interest rates are also often higher than interest rates for HELOCs or home equity loans. The upside is that personal loans are unsecured — your home is not used as collateral. Because of that a personal loan won’t require a home appraisal, and the loan approval process may be quicker as a result.
The Takeaway
When researching HELOCs, it’s essential to compare HELOC rates in California to find the option that delivers the lowest interest rate and lowest overall costs. There are alternatives to a HELOC, but for many borrowers, HELOCs offer unparalleled flexibility, since you can borrow (and pay interest on) only the amount you need at any given time.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Unlock your home’s value with a home equity line of credit brokered by SoFi.
FAQ
What is the monthly payment on a $50,000 HELOC?
To determine the monthly payment on a $50,000 HELOC, you can utilize a HELOC monthly payment calculator which will take into consideration your interest rate and loan term. For example, if you borrow the max on a $50,000 credit line at an interest rate of 7.5% and a term of 20 years, your monthly payment would be $403.
Is a HELOC a good idea right now?
Deciding if a home equity line of credit (HELOC) is a sound financial move hinges on your specific financial circumstances. A HELOC is a very flexible way to borrow because you only borrow what you need at any given moment, up to your approved credit line. This means you don’t pay interest on the portion of the credit line you aren’t using. However HELOCs typically have a variable interest rate. So if you crave a steady monthly payment amount a home equity loan might be more your speed.
What is the monthly payment on a $100,000 HELOC?
The monthly payment on a $100,000 HELOC will depend on how much of the credit line you have used to date. If you have used only $30,000 of your $100,000 limit, the payment might be just a few hundred dollars. On the other hand, if you have used the entire $100,000 credit line and are paying 8.00% interest over 20 years, your monthly payment would be $836.
What are the benefits of a HELOC?
A home equity line of credit is a very flexible way to borrow. You only withdraw the amount of the credit line that you need at any given time. (So you only pay interest on the amount you have borrowed.) Because they are secured by your property, HELOCs also typically have a lower interest rate than a personal loan or credit card. You can use the funds borrowed via a HELOC for just about anything. And for many borrowers, having an open credit loan is a financial security blanket in the event of unexpected expenses, such as a costly home repair.
Do you need an appraisal for a HELOC?
Yes, an appraisal is customarily required for a home equity line of credit. It accurately determines the value of your home which in turn determines your eligibility to borrow and your maximum loan amount.
What disqualifies you from getting a home equity loan?
A poor credit history, insufficient home equity, and a high debt-to-income ratio can all make you ineligible for a home equity loan.
How difficult is it to get a HELOC?
Assuming you have your financial life in order and can easily amass all the necessary documents (tax returns, pay stub, etc) and that you meet the qualifications of a lender, it shouldn’t be hard to get a HELOC. The entire process can take anywhere from one to two months and will move more quickly if you are organized, swiftly arrange access for the appraiser (if a home visit is required), and efficiently make a decision about which lender to utilize.
Does HELOC affect credit score?
Yes, obtaining a home equity line of credit can have an impact on your credit score. Applying for a HELOC entails a hard inquiry, which may cause a temporary reduction in your score. Furthermore, your credit score is influenced by how you manage your debts, including making consistent and punctual payments. If you are good about making your payments, you shouldn’t have anything to worry about.
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 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.
*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.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
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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.
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.
More HELOC resources.
-
What is a Home Equity Line of Credit
-
Different Types of Home Equity Loans
-
HELOC vs Home Equity Loan: How They Compare
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