| 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 $400,000 (in select states) | 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 November 21, 2025
Bankrate Rating = 4.1/5
The Bankrate Score is based on availability, affordability, and customer experience.Originally founded in 1935 for United Airlines employees, Alliant Credit Union now serves borrowers in half the country. It operates solely online and through a network of surcharge-free ATMs.
Bankrate Rating = 4.9/5
The Bankrate Score is based on availability, affordability, and customer experience.Aven offers not a home equity line of credit, but two home equity-secured credit cards — the Home Equity Visa Card and Aven Home Equity Cash. These cards are backed by Coastal Community Bank, an FDIC-insured institution. The credit limit is based on your tappable equity, at an interest rate that reflects your creditworthiness. You can use them as you would any credit card, and it has no finite repayment period. It does offer cash back 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 = 4.7/5
The Bankrate Score is based on availability, affordability, and customer experience.FourLeaf Credit Union, formerly Bethpage, serves over 400,000 members. The credit union offers mortgages, home refinancing and HELOCs.
Bankrate Rating = 4.4/5
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 = 4.5/5
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 = 4.8/5
The Bankrate Score is based on availability, affordability, and customer experience.RenoFi is not itself a lender — it acts as a mortgage broker for borrowers, pairing them with credit unions that offer home equity financing, including HELOCs.
Bankrate Rating = 4.5/5
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 served 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 is paramount. That refers to the interest rate on their HELOCs, of course, but also other expenses, including 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:
Make sure the loan’s features align with your financial needs. Focus on the long-term annual percentage rate (APR) rather than eye-catching introductory offers, which are temporary. Because HELOCs have variable interest rates, it’s essential to understand how and when rates adjust, including any caps, margins and frequency of changes.Stephen Kates, Bankrate financial analyst
In evaluating you for a HELOC, lenders usually will zero in on a few financial metrics. 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 the best rates for borrowers at that level and up). Plus, your debt-to-income (DTI) ratio needs to be 43 percent or less, as lenders want to see that your regular debt obligations don’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 the fees 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 stand, along with broader interest rate trends. Applying when rates are lower or trending downward 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: Alice Holbrook, Editor, Home Lending
Alice has covered personal finance topics, from the perspective of a writer and an editor, for more than 11 years, and she has spent the past three years focusing on the homebuying, homeownership and mortgage rate trends. She loves translating industry data and statistics into insights homebuyers can use. She’s had work appear in outlets including Newsweek, The Washington Post, The Associated Press, USA Today and MarketWatch.
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.
