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Step 1
In order to compare current home equity rates, you will need to find your credit score. This is a simple (and free) process. You should never pay anyone to find your credit score for you. If you don't know how to find your credit score for free, check out the credit karma website (see link below).
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Step 2
Once you have your credit score, plug it in to bankrate's current home equity rates calculator (see link below). This is a free tool which searches a database to find the best home equity rates in your area. This tool will compare current home equity rates whether you are looking for a home equity loan, or a home equity line of credit.
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Step 3
Once the bankrate tool returns the data, you will be able to compare current home equity rates; however, it is important that you don't just pick the lowest interest rate and apply for the loan. The tool also returns contact information for the banks that offer the loans. You should take the time to get into contact with the bank to make sure there aren't any unappealing terms that come with the loans.
