| Lender | Bankrate Score | Line of Credit Amount | National/Regional | Best for |
|---|---|---|---|---|
| 4.7/5 | $10,000+ | Regional (in 25 states & D.C.) | Overall | |
| 4.6/5 | Up to $250,000 | National (in 43 states) | Innovation | |
| 4.5/5 | $25,000-$1,000,000 | National | Best from a bank | |
| 4.3/5 | $10,000+ | National | No closing costs or fees | |
| 4.3/5 | $10,000-$500,000 | Regional (12 states) | Low or bad credit | |
| 4.2/5 | $15,000-$750,000 | National (except Hawaii & New York) | Fast funding | |
| 4.2/5 | $25,000-$750,000 | National | Home improvement | |
| 4.1/5 | $25,000-$400,000 | National (43 states) | Online |
Note: The above data is current as of Sept. 3, 2025
Bankrate Rating = 4.7/5
The Bankrate Score is based on availability, affordability, and customer experience.Originally founded in 1935 for United Airlines employees, Alliant Credit Union now services borrowers in half the country. It operates solely online and through a network of surcharge-free ATMs.
Bankrate Rating = 4.6/5
The Bankrate Score is based on availability, affordability, and customer experience.Aven offers not a home equity line of credit, but a home equity-secured credit card – a Visa card backed by Coastal Community Bank, an FDIC-insured institution. Its credit limit is based on your tappable equity, at an interest rate that reflects your creditworthiness. You can use it as you would any credit card, and it has no finite repayment period. It does offer cashback on purchases.
Bankrate Rating = 4.5/5
The Bankrate Score is based on availability, affordability, and customer experience.BMO is the eighth-largest bank in North America by assets and serves 13 million customers. A sizable financial services institution operating in personal banking, business lending, and capital markets, it recently grew even larger with the acquisition of Bank of the West.
Bankrate Rating = 4.3/5
The Bankrate Score is based on availability, affordability, and customer experience.FourLeaf, formerly Bethpage, is a credit union that serves over 400,000 members. The credit union offers mortgage loans, refinance loans and HELOCs.
Bankrate Rating = 4.3/5
The Bankrate Score is based on availability, affordability, and customer experience.Dating back to 1858, Fifth Third Bank has a footprint in 11 states and provides a variety of financial products, including HELOCs, annuities, credit cards and more.
Bankrate Rating = 4.2/5
The Bankrate Score is based on availability, affordability, and customer experience.Figure is a non-bank online lender that has served over 201,000 households since its founding in 2018. Its HELOC comes with a fixed interest rate and mandates a large lump sum withdrawal.
Bankrate Rating = 4.2/5
The Bankrate Score is based on availability, affordability, and customer experience.RenoFi is not itself a lender; it acts like a mortgage broker for borrowers, pairing them with credit unions who offer home equity financing – including HELOCs.
Bankrate Rating = 4.1/5
The Bankrate Score is based on availability, affordability, and customer experience.Formerly known as Guaranteed Rate, this leader in the mortgage lending and digital financial services space specializes in home-based financing. Since its founding in 2000, it has helped more than 2 million homeowners.
In choosing the eight lenders featured here, we began with our Bankrate Scores. Each of the financial institutions scores strongly – a 4 out of a possible 5 stars – among home equity lenders offering HELOCs.
Then, going beyond the Bankrate Score, we took a deeper look at the standout characteristics of these lenders, like overall value, low costs, availability and product range, to pinpoint which ones excelled in specific areas or for specific features. From there, we created the Best HELOC Lenders list presented here.
When you’re shopping for a lender, the cost of borrowing from them is paramount. That refers to the interest rate on their HELOCs, of course, but also other expenses, both upfront closing costs and ongoing charges, like annual or transactional fees.
But borrowing cost isn’t everything. Other key factors to consider in a lender:
Is there an introductory rate that can drastically reduce your interest charges in the initial months the line of credit is open? Look for lenders that waive or cover any closing costs to minimize out-of-pocket expenses, and if you’re using this as an emergency backup, then stay away from lenders that have a minimum draw requirement or charge any type of annual or inactivity fee.Greg McBride, Bankrate Chief Financial Analyst
In evaluating you for a HELOC, lenders usually will zero in on a few financial things. First, you’ll need to have enough equity in your home, typically a stake that’s at least 15 to 20 percent of your home’s value. Your credit score will also play a big role: It should be, at a minimum, in the mid-600s – though some lenders require at least 700 (and reserve best rates for borrowers at that level and up). Alongside this, your debt-to-income (DTI) ratio needs to be 43 percent or less, as lenders want to see that your regular monthly outgo doesn’t eat up too much of your income, and that you’ll have ample funds to cover monthly payments.
You’ll also need proof of steady income and employment. This reassures the lender that the monthly payments won’t stretch your budget too thin. An appraisal is also a must-have, as lenders will use it to confirm your home’s current market value.
The best way to lock in a low rate is to shop around. Don’t settle for the first offer you receive, or a lender with whom you already do business. Banks, credit unions, and online lenders vary widely in what they charge. Comparing at least three options can save you thousands over the life of the loan.
Improving your credit score before you apply can also make a big difference. Paying down debts, catching up on late payments, and lowering credit card balances can boost your score and help you qualify for better rates.
Finally, while timing the market is tricky, do look at where HELOC rates are, along with interest rate trends in general. Applying when rates are lower or trending down can work in your favor. With HELOCs, you also want to keep an eye out for special offers: lower-than-average introductory rates that are fixed for a set period.
Written by: Linda Bell, Senior Writer, Home Lending
For more than two decades, I have covered the housing market, including in-depth coverage of the 2008 residential real estate collapse. To increase my knowledge of home equity and HELOCs, I earned a Certified HELOC Specialist designation from the National Association of Mortgage Underwriters (NAMU). Throughout my career, I have won more than two dozen awards, most notably from the National Association of Real Estate Editors (NAREE) and the New York Association of Black Journalists (NYABJ) for an investigative series I produced on minorities and the housing industry.
Edited by: Troy Segal, Senior Editor, Home Lending
As a senior editor on Bankrate’s Home Lending team, I handle coverage of residential real estate, specializing in the finer points of homeownership, home equity and home-based financing. I hold a Certified Mortgage Underwriter designation from the National Association of Mortgage Underwriters. Throughout my career, I’ve also written and edited articles on a variety of personal finance, investment and wealth management topics. I was named one of Fixr.com’s “30 Top Home Improvement Journalists” in 2024.
Reviewed by: Mark Hamrick, Senior Economic Analyst
I am an award-winning business and financial journalist, with decades of experience in the news business. I can often be found on television, radio and in print, where I make complex financial topics easy to understand. I have also helmed two major journalism organizations and am a champion for financial literacy and press freedom around the globe.
