A second-lien quote is only good or bad relative to where the market sits the day you get it, so judge it in context. Two rules of thumb help. - Second liens price above first mortgages. A home equity loan or line sits behind your first, so in a default the first lien gets paid before the second. That extra lender risk shows up as a higher rate, and it climbs further at high loan-to-value. At 90% of the home's value, the lender has very little cushion. So compare your quote to where first mortgages are pricing that same day and expect the second to sit somewhat above. - Match the product type. A fixed home equity loan and a variable line of credit (HELOC) price differently, so compare like for like. If you have a genuine need for the funds, there's an argument for securing access sooner rather than later, because rates can move against you while you wait. Nobody can promise where they head next. Anchor the decision to your actual need for the money and how the quote stacks up against the first-mortgage market on the day you're shopping. The Mortgage News Daily rate table, right here on our site, gives you that first-mortgage baseline.