Best HELOC Lenders of 2026
Compare Home Equity Products
Last Updated: April 16, 2026
Lenders featured on this page offer a range of home equity products, including HELOCs, home equity loans, and lending marketplaces. Product type and availability varies by lender — see individual listings for details.
How We Score
The Finance Falcons editorial team independently evaluates home equity lenders using a three-factor scoring system. Each lender receives a score of 1–10 across all three categories, which are combined into a final composite score out of 10.
Measured by visit and engagement trends over the past 7 days. Lenders that consistently attract more borrowers signal stronger market confidence and relevance.
Assessed using web trends and third-party trust signals including BBB ratings, Trustpilot scores, and J.D. Power rankings where available. Lenders with stronger independent reputations score higher.
Based on each lender's current product offerings, including advertised rates, loan amounts, LTV limits, and fee structures. Lenders offering more competitive terms to a broader range of borrowers score higher.
Editorial Independence
Our scores are determined independently and are not based on revenue or click performance. However, we may receive compensation from some of the companies featured on this page, which can influence the order in which lenders are displayed. Compensation does not affect our editorial scores.
Data & Updates
Lender information is verified against publicly available sources and updated regularly. We recommend confirming current rates and terms directly with any lender before applying.
Lenders featured on this page offer a range of home equity products, including HELOCs, home equity loans, and lending marketplaces. Product type and availability varies by lender — see individual listings for details.
How We Score
The Finance Falcons editorial team independently evaluates home equity lenders using a three-factor scoring system. Each lender receives a score of 1–10 across all three categories, which are combined into a final composite score out of 10.
Measured by visit and engagement trends over the past 7 days. Lenders that consistently attract more borrowers signal stronger market confidence and relevance.
Assessed using web trends and third-party trust signals including BBB ratings, Trustpilot scores, and J.D. Power rankings where available. Lenders with stronger independent reputations score higher.
Based on each lender's current product offerings, including advertised rates, loan amounts, LTV limits, and fee structures. Lenders offering more competitive terms to a broader range of borrowers score higher.
Editorial Independence
Our scores are determined independently and are not based on revenue or click performance. However, we may receive compensation from some of the companies featured on this page, which can influence the order in which lenders are displayed. Compensation does not affect our editorial scores.
Data & Updates
Lender information is verified against publicly available sources and updated regularly. We recommend confirming current rates and terms directly with any lender before applying.
Thousands of homeowners compare home equity products on Finance Falcons every month.
Our Top Home Equity Pick:
What Is a Home Equity Product?
A home equity product lets you borrow against the equity you've built in your home — the difference between what your home is worth and what you still owe on your mortgage. There are two main types:
- A HELOC is a revolving line of credit you draw from as needed, repay, and borrow again — only paying interest on what you use. Most carry variable rates, though fixed-rate options exist.
- A Home Equity Loan provides a lump sum at a fixed rate, repaid in equal monthly installments. Best for one-time expenses where predictable payments matter.
Both products use your home as collateral. Your property is at risk if you fail to make payments.
Why Homeowners Use Home Equity Products
Because they're secured by your home, rates are significantly lower than credit cards or personal loans. Common uses include home renovations, debt consolidation, tuition, medical bills, and emergency expenses. Interest may be tax-deductible when funds are used to substantially improve your home — consult a tax advisor to confirm eligibility.
How Much Can You Borrow?
Most lenders allow up to 80%–85% of your home's value minus your outstanding mortgage balance, though some go as high as 95%. Your final amount also depends on your credit profile, income, and debt-to-income ratio.
Example: Home worth $400,000, mortgage balance $230,000, lender allows 85% CLTV — you could borrow up to $110,000.
Current Home Equity Rates
As of April 2026, the national average HELOC rate is approximately 7.02% — near its lowest level since 2022. Your actual rate depends on your credit score, equity, loan-to-value ratio, and the lender you choose. Always compare APR across lenders, not just the interest rate, to understand the true cost of borrowing.
What to Look for When Comparing Lenders
- Product type — Some lenders offer HELOCs, some offer home equity loans, and some are marketplaces connecting you with multiple lenders. Make sure the product fits your needs before applying.
- Rate structure — Variable rates can rise over time. If payment stability matters, look for fixed-rate options or rate-lock features.
- Fees — Compare origination fees, annual fees, and early closure penalties. A low advertised rate can be offset by higher fees.
- Funding speed — Online lenders can fund in as few as five days. Traditional lenders may take several weeks.
Our recommendation: Use the comparison chart above to narrow your options, then request rates from two or three lenders. Comparing personalized offers side by side is the most reliable way to find the best home equity product for your goals.
Top Home Equity Lenders: Pros & Cons
Min. Credit Score: 680+
Pros
- Ranked #1 in J.D. Power mortgage servicing satisfaction 11 times
- Borrow up to 90% of your home's value
- 100% online application, no branch visit required
- Available in all 50 states
Cons
- Must apply to see rates and closing costs
- Offers home equity loans only — no HELOC option
Min. Credit Score: 640+
Pros
- Offers both HELOC and home equity loan products
- Full credit line available at closing
- 20+ years of lending experience
- Borrow up to $350,000
Cons
- Not available in all states
- Lower maximum loan amount compared to some competitors
Frequently Asked Questions
What is a HELOC and how does it work?
A HELOC (Home Equity Line of Credit) is a revolving line of credit secured by your home. It works like a credit card — you're approved for a maximum credit limit based on your home's equity, and you can borrow, repay, and borrow again during the "draw period" (typically 10 years). You only pay interest on the amount you actually use. After the draw period ends, you enter the "repayment period" where you pay back the remaining balance over 10–20 years.
What credit score do I need for a HELOC?
Most lenders require a minimum credit score of 620–680 to qualify for a HELOC, though you'll typically get the best rates with a score of 740 or higher. Some lenders, like Upstart, use AI-driven models that consider non-traditional factors beyond just your credit score, which may help borrowers with thinner credit files. Your debt-to-income ratio and available home equity also play a significant role in approval.
How is a HELOC different from a home equity loan?
A HELOC is a revolving credit line — you draw funds as needed and only pay interest on what you use, similar to a credit card. Most HELOCs carry variable rates. A home equity loan, on the other hand, provides a one-time lump sum at a fixed interest rate, repaid in equal monthly installments. HELOCs are better for ongoing or flexible expenses, while home equity loans suit one-time costs where you want predictable payments.
What can I use a HELOC for?
You can use a HELOC for virtually any purpose. The most common uses include home renovations and improvements, debt consolidation (paying off higher-interest credit cards or loans), college tuition, medical expenses, and emergency funds. Some homeowners also use HELOCs for investment purposes. Keep in mind that interest may be tax-deductible when funds are used to substantially improve your home — consult a tax advisor for eligibility.
Is HELOC interest tax-deductible?
HELOC interest may be tax-deductible if the funds are used to "buy, build, or substantially improve" the home that secures the loan, per IRS guidelines. Interest on funds used for other purposes (like debt consolidation or tuition) is generally not deductible. The deduction limit applies to combined mortgage debt up to $750,000 ($375,000 if married filing separately). Always consult a qualified tax advisor to confirm your specific eligibility.
How long does it take to get a HELOC?
The timeline varies by lender. Online-focused lenders like Upstart and Figure can approve and fund a HELOC in as few as 5–10 business days. Traditional banks and credit unions typically take 2–6 weeks. Factors that affect timing include whether an appraisal is required (many online lenders waive this), how quickly you submit documentation, and your state's closing requirements.
What happens if I can't make my HELOC payments?
Because a HELOC is secured by your home, failing to make payments can have serious consequences. Missing payments will negatively impact your credit score. If you default, the lender can initiate foreclosure proceedings, meaning you could lose your home. If you're struggling to make payments, contact your lender immediately — many offer hardship programs, payment deferrals, or loan modification options before the situation escalates.
Can I pay off a HELOC early?
Yes, most HELOCs allow you to pay off your balance early without penalty. However, some lenders charge an early closure fee if you close the account within a certain period (often 2–3 years). Several lenders featured in our comparison, including Upstart, specifically waive prepayment penalties. Always check your lender's terms before signing — and pay attention to any annual fees or account maintenance charges that may apply even with a zero balance.
Disclaimers
Rocket Mortgage:
Loan amounts range from $10,000 to $1,000,000. A minimum credit score of 680 is generally required to qualify, though approval is subject to full underwriting review. Rates, terms, and loan availability may vary based on factors such as credit profile, property type, loan-to-value ratio, and geographic location. Rocket Mortgage HELOC products are currently available in all U.S. states, subject to eligibility and lending criteria.
AmeriSave Mortgage Corporation:
Loan amounts range from $20,000 to $450,000. A minimum credit score of 640 is typically required for consideration, but final approval depends on a complete underwriting assessment. Rates and terms may vary based on creditworthiness, property characteristics, and other qualifying factors. AmeriSave HELOC products are not available in New York State, and availability may vary in other areas based on lending guidelines.
Quicken Loans:
Loan amounts range from $10,000 to $450,000. A minimum credit score of 680 is generally required to qualify, though final approval is subject to a full underwriting review. Rates, terms, and product availability may vary based on factors such as credit profile, property type, loan-to-value ratio, and occupancy status. Quicken Loans HELOC products are available in all U.S. states, subject to eligibility and applicable lending guidelines.
Lending Tree:
Loan amounts range from $5,000 to $1,000,000. A minimum credit score of 620 is generally required for consideration; however, qualification and approval are subject to a full underwriting review by participating lenders. Rates, terms, and offers may vary based on credit profile, property type, loan-to-value ratio, and other eligibility factors. LendingTree services are available in all U.S. states, though loan availability may vary by lender and location.
Achieve Home Loans:
Loan amounts range from $15,000 to $500,000. A minimum credit score of 630 is generally required for consideration; however, final approval is subject to a full underwriting review. Rates, terms, and loan availability may vary based on credit profile, property characteristics, loan-to-value ratio, and other eligibility criteria. Achieve Home Loans products are not available in the states of Alaska, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Maine, Massachusetts, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New York, North Dakota, Rhode Island, South Dakota, Utah, Vermont, Virginia, West Virginia, and Wyoming. Availability in other states is subject to lending guidelines and borrower qualification.
Figure:
Loan amounts range from $15,000 to $450,000. A minimum credit score of 650 is generally required for consideration; however, final approval is subject to a full underwriting review. Rates, terms, and loan availability may vary based on factors such as credit profile, property type, loan-to-value ratio, and overall financial qualifications. Figure HELOC products are not available in the states of West Virginia, Hawaii, and New York. Availability in other states is subject to eligibility and applicable lending guidelines.
Point.com:
Funding amounts typically range from $30,000 to $600,000. A minimum credit score of 600 is generally required for consideration, along with a minimum home value of $155,000; however, final approval is subject to a full underwriting review. Terms and availability may vary based on property characteristics, location, and overall financial profile. Point products are not available in the states of Alabama, Alaska, Arkansas, Delaware, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, Montana, Nebraska, New Hampshire, New Mexico, North Dakota, North Carolina, Oklahoma, Rhode Island, South Dakota, Texas, Vermont, West Virginia, and Wyoming. Availability in other states is subject to eligibility and applicable program guidelines.