Best HELOC and Home Equity Loan Lenders Compared
April 2026
Last verified: April 2026. Rates and terms change frequently. Check directly with each lender for current offers. Affiliate links may be present; we are compensated if you apply but this does not affect our rankings.
Quick comparison table
| # | Lender | HEL Rate | HELOC Rate | Max CLTV | Closing Costs | Close Speed | Min Score |
|---|---|---|---|---|---|---|---|
| 1 | Figure | 8.05% | 8.40% | 85% | Waived (online) | 5-10 days | 640 |
| 2 | Third Federal | 7.89% | 8.20% | 80% | Low flat fee | 3-5 weeks | 680 |
| 3 | Navy Federal CU | 8.00% | 8.25% | 90% | Low | 3-4 weeks | 620 |
| 4 | Spring EQ | 8.15% | 8.50% | 90% | Varies | 2-3 weeks | 640 |
| 5 | Rocket Mortgage | 8.20% | 8.55% | 85% | 2-3% | 3-4 weeks | 680 |
| 6 | Bank of America | 8.25% | 8.60% | 85% | 2-4% | 4-6 weeks | 680 |
| 7 | US Bank | 8.30% | 8.65% | 80% | 2-4% | 4-5 weeks | 680 |
| 8 | PNC | 8.35% | 8.70% | 85% | 2-4% | 3-5 weeks | 680 |
| 9 | TD Bank | 8.40% | 8.75% | 80% | 2-4% | 4-6 weeks | 680 |
| 10 | Discover Home Loans | 8.49% | N/A | 90% | Zero (advertised) | 3-4 weeks | 620 |
Rates indicative for April 2026, assuming 720+ credit score, 80% CLTV, primary residence. Your rate will vary.
Lender reviews
Fastest close of any major lender. Fully digital. No in-person requirements. HELOC only (no HEL product).
HELOC-only; no home equity loan. Not available in all states. AVM-based valuation may underappraise unusual properties.
Consistently lowest or near-lowest rates in market. Extremely transparent fee structure. Credit union-adjacent ethos.
Stricter CLTV cap (80%, not 85-90%). Limited digital experience. Slower close than online lenders.
High CLTV cap (90%) means more borrowing capacity. Excellent rates for members. Very high member satisfaction.
Membership required (military, DoD, veterans, family). Not available to the general public.
High CLTV cap (90%). Competitive digital process. Offers both HEL and HELOC products.
Less name recognition. Rate can vary significantly based on credit profile. Some reports of inconsistent customer service.
Highly rated digital experience. Strong brand trust. Good customer service reputation. Both HEL and HELOC.
Rates are not always best in class. Closing costs on the higher side. Heavy phone/email follow-up during application.
Preferred Rewards members get rate discounts (up to 0.375%). Nationwide branch network for in-person support. Reliable.
Slower than online lenders. Full appraisal typically required. Better rates available elsewhere.
Solid rates for existing customers. Good in-person branch network. Reliable large-bank experience.
CLTV cap of 80% is conservative. Not available in all states. No significant rate advantage over online competitors.
Good rates for HELOC Choice product. Strong Southeast and Midwest presence. Fixed-rate lock option on HELOC.
Not available nationally. Rates not leading-edge. Slower than online options.
Strong Northeast presence. In-person option throughout East Coast corridor. Reliable.
Limited to East Coast / Northeast markets. Conservative CLTV cap. Not leading on rate.
Advertises zero closing costs. High CLTV cap (90%). Strong customer service reputation. Home equity loan only.
No HELOC product. Rate not the lowest. Zero closing costs promotion may not always be available; verify current terms.
How to choose: a decision framework
Figure. Closes in 5-10 days, fully digital. HELOC only.
Third Federal or Navy Federal (if eligible). Apply within the same 14-day window at both.
Bank of America, US Bank, PNC (Southeast), or TD Bank (Northeast).
Check your own credit union first. Navy Federal for military. Credit union rates are often competitive.
Discover Home Loans (HEL only) or Figure (HELOC). Verify terms at application.
Navy Federal CU (if eligible), Spring EQ, or Discover Home Loans.