Best home equity line of credit (HELOC) lenders for May 2026

Best home equity line of credit (HELOC) lenders in May 2026

Note: The above data is current as of April 30, 2026.

Bankrate’s methodology for choosing the best HELOC lenders

To identify the best lenders for HELOCs, Bankrate surveyed more than 50 home equity lenders nationwide and scored each based on its self-reported data and research by Bankrate staff. We assigned scores based on a lender’s affordability, availability and borrower experience, giving equal weight to each category. Lenders that received a Bankrate Score of 4.5 out of 5 or higher and offer HELOCs appear on this page. 

To receive a top score from Bankrate, lenders must offer a standard rate lower than Bankrate’s tracked average, and they generally also offer a competitive introductory rate. In addition, lenders are usually licensed in more than 30 U.S. states, offer both HELOCs and home equity loans, provide at least one product for borrowers with credit scores of 640 or lower, don’t require an initial minimum draw and have a loan minimum of $10,000 or less. Finally, our top-scoring lenders tend to make it easy for borrowers to compare rates and manage much of the loan process online, and they offer multiple options for customer support and an option to lock the rate on some or all of a HELOC balance. Bankrate’s evaluations are independent and are not influenced by lender partnerships or advertising relationships. Read more about how Bankrate scores are determined here.

Some lenders may appear as honorable mentions, despite earning a Bankrate score of 4.5 or higher, due to eligibility restrictions or limited availability (15 or fewer states).

What to consider when choosing a HELOC lender

When you’re shopping for a lender, the cost of borrowing should be a priority. That includes not only the interest rate on the credit line, but closing costs and ongoing fees. For example, some credit lines charge an annual fee, while others don’t. 

Beyond borrowing costs, consider:

• Availability: Even if the lender operates in your area, many don’t have branches. If a lender has phone support, do the hours work for your schedule? If you’d prefer to visit a branch, is there one nearby? 
• Borrowing limits: While many lenders let you borrow up to 80% of your home’s value, some will let you borrow 85% or more. Make sure the lender will let you borrow enough for your needs. 
• Qualifying requirements: Do the lender’s requirements around loan-to-value and credit score fit your financial profile? 
• Flexibility: What are the lender’s policies concerning prepayment, refinancing and adjusting the credit line limit? Will you be required to draw the entire credit line at once? Can you fix the rate of individual draws?
• Reputation: Read the lender’s consumer reviews to gauge their customer service and others’ real-life experiences.

Requirements for a HELOC

In evaluating you for a HELOC, lenders usually zero in on a few financial metrics:

• Home equity: Most lenders require a 15% to 20% equity stake in order to take out a HELOC.
• Credit score: It should be, at a minimum, in the mid-600s — though some lenders require at least 700. The best rates go to borrowers with that score or higher. 
• Debt-to-income ratio: Your DTI ratio should typically be 43% or less, including your payments on your original mortgage. The lender will want to ensure that your existing obligations don’t eat up too much of your income. 
• Proof of income: As when you applied for your original mortgage, you’ll need proof of steady income and employment. This reassures the lender that you can afford your monthly payments.
• Home value: An appraisal is also a must-have, as your home value helps determine your equity stake and how much you may borrow. 

How to get the best HELOC rate

To score the best possible HELOC rate, shop around. Look beyond your current lender, and don’t settle for the first offer you receive. Banks, credit unions and online lenders vary widely in the fees they charge. Comparing at least three options can save you thousands of dollars over the life of the loan.

If you already have a strong credit score, you’ll likely receive a competitive rate. But if your score is lower, boosting it can save you money. Reducing debt, 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, consider where HELOC rates stand, as well as broader interest rate trends. Applying when rates are lower or trending downward can work in your favor. HELOCs may also come with lower-than-average introductory rates that are fixed for a set period. Just keep in mind that these are temporary, and budget accordingly.

Meet our Bankrate experts

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. 

Read more from Linda Bell

Co-written by: Ana Staples, Principal Analyst, Bankrate

Ana Staples is a lead reporter at Bankrate and writes about credit cards and credit advice. She entered the credit industry contracting with Experian in 2019, where Ana wrote articles for the bureau’s blog. Since then, she has written about credit cards and other personal finance topics for numerous publications, including CNBC Select, Buy Side from WSJ and CNET.

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Edited by: Alice Holbrook Editor, Home Lending 

Alice has covered personal finance topics, from the perspective of a writer and an editor, for almost 13 years, and she has spent the past five years focusing on the homebuying, homeownership and mortgage rate trends. She joined Bankrate in 2024 after more than a decade at NerdWallet. 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.

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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. 

Read more from Mark Hamrick