This service is free and will not affect your credit score. Our 2026 Best-Of Award Winner Best for cash back Our take on Aven Aven's HELOC offers fast closing, flexible repayment terms, and a rare cash-back feature, but the draw term is on the short side. Sample HELOC rates are posted online. Much faster average time to close than many lenders surveyed by NerdWallet. No origination fee or annual fee. Five year draw period is shorter than typical. Maximum loan amount is lower than some other lenders. Best for no prepayment penalties Our take on Achieve Achieve's HELOC has flexible terms and an unusual fixed rate, but the draw period is shorter than other lenders'. Sample HELOC rates are customizable online. Fixed interest rates make payments predictable. Faster average time to close than many lenders surveyed by NerdWallet. You must withdraw the full loan amount at closing. Five year draw period is shorter than typical. HELOCs are not available for second homes. Best for rates shopping Our take on TD Bank TD Bank is a major HELOC lender, featuring a high borrowing limit and the option to fix your rate. Borrowers with a TD Bank checking account can get a rate discount. Borrowers can personalize HELOC rates online. Introductory rate is below the prime rate. Offers a higher than typical borrowing limit. Charges an annual fee. Average time to close is not clear. Best for fast closing Our take on Figure Online lender Figure is one of the top HELOC lenders in the nation by loan volume. The main appeal is its fast closing, but you’ll need to draw 100% of the line amount at closing and only have five years to keep borrowing. Faster average time to close than many lenders surveyed by NerdWallet. A rate discount is available to some borrowers. You must withdraw the full loan amount at closing. Does not post sample HELOC rates online. Best for HELOC loan expertise Our take on Bank of America Bank of America's HELOC features no annual fee as well as options for a rate discount, but time to close is on the longer side. Borrowers can personalize HELOC rates online. Major HELOC lender, by loan volume. A rate discount is available to some borrowers. Average time to close is longer than other HELOC lenders surveyed by NerdWallet. Mobile app may not cater to HELOC borrowers. Best for high draw limit Our take on Huntington National Bank Huntington keeps the HELOC process pretty painless: no origination fee, no required first draw, and up to 90% CLTV. The trade-off? You’ll need to live in its service area and accept an annual fee in most states. No origination fee. Maximum borrowing limit of $1,500,000. Offers up to 90% CLTV. Limited to select states. Annual fee of $60 in most states, with exceptions for Minnesota ($50) and Texas ($0). HELOCs are not available for investment properties. Best for low introductory rates Our take on Truist Truist, one of the largest HELOC lenders in the country, offers an interest rate below prime for the first nine months, and borrowers can get a rate discount. However, you won’t find customized rates online. Generous introductory rate (below the prime rate). Offers a higher-than-typical borrowing limit and a fixed-rate option. Sample HELOC rates are posted online, enabling quick comparison. Online sample rates are not customizable. Charges an annual fee. Best for rate shopping Our take on Fifth Third Bank Fifth Third Bank stands out for its Equity Flexline HELOC, which charges no closing costs. You also don’t have to worry about minimum draw requirements (unless you live in Texas), and you could qualify with a combined loan-to-value (CLTV) ratio of up to 90% — a higher limit compared to some lenders. You also have the option to convert some or all of your balance to a fixed rate. No closing costs. Offers a fixed-rate option. Autopay discount available. Available in only 15 states. Charges a $65 annual fee (waived for the first year) and a $95 fee to lock in a fixed rate. Adds 0.25% to the rate for HELOCs secured by a second or investment home. Best for rate discounts Our take on Regions Bank Regions Bank HELOCs come with a low introductory rate lower for the first six months and can be used for either a first or second home. Borrowers can take advantage of discounts if they sign up for autopay or already have an eligible Regions checking account. Regions will also cover closing costs on credit lines of $500,000 or less. Can convert $5,000 up to your full outstanding balance to a fixed rate. Offers introductory rate for first six months after as well as autopay and existing customer rate discounts. Closing costs covered by Regions for credit lines up to $500,000. Maximum combined loan-to-value (CLTV) ratio is only 80%. Closing can take longer compared to some lenders.

Charges over limit fees, late fees and a fee to convert your balance to a fixed rate. Best for California borrowers Our take on Golden 1 Credit Union Golden 1's HELOC delivers low fees and a fixed-rate option to California members, though time to close is not clear. Sample HELOC rates are posted online. Introductory rate is below the prime rate. Credit union membership is limited to California borrowers. Borrowing limit is lower than what you'll find at some other lenders. Best for no annual fees Our take on Lower Lower's HELOC offers a fast closing and no annual fee, with various draw and repayment terms plus the flexibility of a fixed-rate option — though it does charge an origination fee. Offers a fixed-rate option. HELOCs are available on second homes. Charges an origination fee. Smaller HELOC lender, by loan volume. Best for no initial draw requirement Our take on PNC Bank PNC is among the largest HELOC lenders, offering a fixed-rate option, a wide range of repayment terms and no initial draw requirements. However, there is an annual fee of $50. Customized HELOC rates are available online. Offers a fixed-rate option. A rate discount is available to some borrowers. Charges an annual fee. Slower average time to close than many lenders surveyed by NerdWallet. Best for military borrowers Our take on Navy Federal Navy Federal Credit Union, a top HELOC lender by loan volume, stands out for its high borrowing limit and long draw period of 20 years. Credit union membership is limited. Sample HELOC rates are posted online. Offers a fixed-rate option. 20-year draw period is longer than most. HELOC APRs are less competitive than other lenders’. Slower average time to close than many lenders surveyed by NerdWallet. Best for fast closing Our take on Rate Rate's HELOC has browsable rates and relatively fast closing, but note required initial withdrawal and shorter-than-usual draw period. Sample HELOC rates are posted online. Good array of repayment options. Faster average time to close than many lenders surveyed by NerdWallet. Requires an initial draw amount at closing. Shorter draw period than typical HELOCs. How we chose the best HELOC lenders Lenders reviewed Categories assessed Data points analyzed Star rating categories Home equity line of credit calculator See if you could be eligible for a HELOC and estimate how much you could borrow You could borrow This calculator assumes an 85% max LTV, which could differ depending on lender. 🏆 Truist is NerdWallet's Best HELOC Lender of 2026 Tips for getting a HELOC Getting the best HELOC rate On HELOC misconceptions and customer anxieties: Alternatives to a HELOC 1. Home equity loan You know exactly how much you need to borrow, and want it all at once. You prefer the predictable payments that come with a fixed interest rate. 2. Cash-out refinance You want to refinance your current mortgage and take cash out. You want to manage only one loan. 3. Home equity investment You an’t qualify for a HELOC, but need cash flow. You're a homeowner with a lot of equity but little savings. Frequently asked questions What credit score do you need for a HELOC? Lender requirements for a HELOC vary, but most lenders surveyed by NerdWallet reported a minimum credit score of 640 or higher. Applying for a HELOC will probably reduce your credit score temporarily when it appears on your credit report. What credit score do you need for a HELOC? Is a HELOC tax-deductible? The interest you pay each year on a HELOC is tax-deductible up to a limit as long as the borrowed money is used to buy, build or substantially improve your home, according to the IRS. Is a HELOC tax-deductible? What is the monthly payment on a $50,000 HELOC balance? Your HELOC payment will depend on several factors — mainly, your interest rate and repayment term. For example, if you withdrew $50,000 from a HELOC at a variable interest rate of 7.5%, your minimum monthly payment would start at around $310 per month. This amount would change any time that interest rate changes (based on a base rate called the prime rate). The minimum monthly payment would also increase after the draw period ends (typically, after 10 years), when the amount due begins to include the principal balance. What is the monthly payment on a $50,000 HELOC balance? How do I get approved for a HELOC? You have the best chances of getting approved for a HELOC if you have at least 20% equity in your home, a credit score that is at least in the mid-600s, and little debt. Use NerdWallet’s HELOC calculator to see how much you could be approved to borrow with a HELOC. How do I get approved for a HELOC? Learn more about HELOCs Home equity loans and home equity lines of credit, or HELOCs, are two ways to turn some of your equity into cash. HELOCs have their pros and cons, and can be a good idea when used for a smart money move like a home renovation. Home equity could provide an ample source of college funding, but borrowing against it is a financially risky move.