This service is free and will not affect your credit score. How a home equity loan works Our 2026 Best-Of Award Winner Best for rate shopping Our take on Better Online lender Better’s home equity loans offer flexible terms and personalized rate tools, but application or support options are somewhat limited. Flexible term options. Borrowers can personalize home equity loan rates online, by location. Charges closing costs. Best for military borrowers Our take on Veterans United Veterans United’s home equity loans feature high borrowing limits and long-term options, with average closings in two weeks. Be aware that the loan will come from a third-party partner. Offers a higher than typical borrowing limit. Faster average time to close than many lenders surveyed by NerdWallet. Available for second homes. Does not post sample home equity loan rates online. Originates home equity loans with a third-party partner. Best for flexible term options Our take on CrossCountry Mortgage CrossCountry’s home equity loans offer flexible terms, but you won't find rate information online. Flexible term options. Borrowers may have the option to redraw from the loan. Available for second homes. Does not post sample home equity loan rates online. May require an appraisal. Best for fast closing Our take on SoFi SoFi’s home equity loans offer flexible term options and faster-than-average closing, but may require an appraisal and aren't available for second homes. Flexible term options. Average reported closing time is two weeks. May require an appraisal. Not available for second homes. Best for high borrowing limit Our take on AmeriSave AmeriSave’s home equity loan offers high borrowing limits and flexible long-term options, but lacks rate transparency. Offers a higher than typical borrowing limit. Flexible term options. Does not post sample home equity loan rates online. Limited application options. Best for no appraisal required Our take on loanDepot LoanDepot’s home equity loans feature high borrowing limits and no appraisal requirement, but may have slower closing times. Offers a high borrowing limit. No appraisal requirements. Does not post sample home equity loan rates online. Slower average time to close than many lenders surveyed by NerdWallet. Best for flexible term options Our take on Guild Mortgage Guild’s home equity loans feature flexible terms and high borrowing limits, but lack rate transparency, and may have slower closing times. Offers a higher than typical borrowing limit. Flexible term options. Home equity loans are available for second homes. Appraisal required. Does not post sample home equity loan rates online. Slower average time to close than many lenders surveyed by NerdWallet. Best for customer support Our take on Rocket Mortgage, LLC Rocket Mortgage’s home equity loans offer high borrowing limits and solid access to customer support, but lack rate transparency. Offers a higher than typical borrowing limit. Home equity loans are available for second homes. Easy access to customer support. Appraisal may be required.

Does not post sample home equity loan rates online. Best for no closing costs Our take on Flagstar Flagstar’s home equity loans may close in three weeks, with no closing costs, but require an appraisal and aren’t available for second homes. No closing costs. Average time to close is three weeks. Appraisal required. Home equity loans are not available for second homes. Best for high borrowing limit Our take on Andrews Federal Credit Union Andrews Federal Credit Union is on the smaller side, but its home equity loans have high borrowing limits. Offers a higher than typical borrowing limit. Flexible term options. Home equity loans are available for second homes. May require an appraisal. The longest repayment term is 20 years, when 30 is typical. Best for high borrowing limit Our take on Lower Lower's home equity loan features high borrowing limits, quick closing and several flexible term options, though online rate information is lacking. Offers a higher than typical borrowing limit. Wide range of flexible term options, including terms of 30 years. Faster average time to close than many lenders surveyed by NerdWallet. Does not post sample home equity loan rates online. No mobile app available. Best for rate shopping Our take on U.S. Bank U.S. Bank’s home equity loans offer flexible term options and customizable rates to browse online, but have lower borrowing limits than some lenders. Borrowers can personalize home equity loan rates online. No closing costs. Has a lower than typical borrowing limit. Closing times may be slow. Best for home equity loan expertise Our take on Newrez NewRez can be a great option for homeowners looking to borrow a large amount of their home's equity, though closing may take longer than with some competitors. One of the highest borrowing limits among lenders surveyed by NerdWallet. Offers a range of customer support options. An appraisal may be required. Closing times may be slow. How we chose the best home equity loan lenders Lenders reviewed Categories assessed Data points analyzed Star rating categories 🏆 Better is NerdWallet's Best Home Equity Loan Lender of 2026 Getting the best home equity loan rate Debt-to-income ratio, or DTI . This is the percentage of your monthly income that is set aside for your other debts, like car payments and student loans. A DTI ratio no higher than 43% will help you qualify with most lenders. Credit score. Most lenders on this list look for a minimum credit score of 680 or higher. The amount you’re borrowing. Lenders’ lowest advertised rates usually assume that the loan is worth a minimum amount. For example, the lender might give the best rate offers to borrowers taking out at least 60% of their home equity. Calculate your home equity loan amount and payments Alternatives to a home equity loan 🏠 Home equity line of credit, or HELOC A line of credit that you borrow against as you need it. You don’t need to know exactly how much you’ll need beforehand, just an estimate. Has an adjustable interest rate. This means that your interest rate will change over the life of the loan. Some lenders also offer a fixed-rate option. 🏠 Cash-out refinance Replaces your mortgage with a larger new loan. You get the difference between the new higher loan amount and the amount owed as a cash payment. Interest rates are generally higher than a standard refinance, but lower than home equity loans or HELOCs. Check out NerdWallet's best lenders for a cash-out refinance. Frequently asked questions What is a good rate for a home equity loan? Home equity loan rates vary from day to day and from one lender to another. To make sure you're getting a good home equity loan rate, compare offers from at least three lenders. It may seem simpler to get a home equity loan from your current mortgage lender, but that might not get you the best deal. What is a good rate for a home equity loan? What credit score do you need to get a home equity loan? You'll need a credit score that is at least 680 to qualify for a home equity loan with most lenders on this list. A higher score will help you qualify with more lenders. You may also need to have at least 15% home equity. This means the remaining balance on your original mortgage is no more than 85% of your home's current value. What credit score do you need to get a home equity loan?