Interest.com's latest survey of major lenders taken March 17 found the average cost of a $30,000:

Home equity line of credit was unchanged at 5.75%. A year ago, the average line of credit cost 5.62%.

Home equity loan held at 7.76%. A year ago, traditional second mortgages cost 8.60%.

You can check our extensive database to find the best home equity rates in your area.

To determine how much you could be eligible to borrow, subtract the balance you owe on your mortgage from what your home is currently worth. Your equity is the difference between what your home is worth and how much you owe.

Most lenders require borrowers to retain 20% equity in their home after adding the home equity line of credit or loan to their debt.

Our line of credit calculator can help you do the math.