Home equity borrowing doesn't need to break the bank this October now that interest rates are falling again. But what, exactly, are the cheapest ways to borrow home equity this October? What are the cheapest ways to borrow home equity this October? In other words, not only is a HELOC the cheapest way to borrow home equity currently, but it's also the cheapest way to borrow money at all in today's economy. By doing your research and closely comparing all three, you'll improve your chances of extended home equity borrowing success.