Best home equity loan lenders for December 2025

Best home equity loan lenders in December 2025

Note: The above data is current as of November 21, 2025

Bankrate’s methodology for choosing the best home equity loan lenders

In choosing the financial institutions featured here, we began with our Bankrate Scores. Each scores strongly among home equity lenders offering home equity loans.

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. We also took into consideration data used in choosing our Bankrate Award winners. From there, we created the Best Home Equity Loan Lenders list.

What to consider when choosing a home equity loan lender

When shopping for a home equity loan, the interest rate is top-of-mind for most potential borrowers. But there are several other factors to consider when deciding on a lender:

• • Availability: Research not only which lenders serve your area, but what products they offer. While some lenders may have a presence in your state, they may not offer home equity loans there.
  • Financial requirements: Since there are no government-backed home equity loans, the criteria aren’t as standardized as those of mortgages. Carefully check each lender’s eligibility requirements, including those for credit score, debt-to-income ratio and loan-to-value ratio.
  • Fees: Fees can vary significantly between lenders and impact the overall cost of your loan.
  • Contact options: Is it important that your lender has in-person branches nearby? Do they offer weekend customer service hours? Is their online banking system robust and accessible? It’s good to know how you can contact a lender with an issue before getting a loan from them.
  • Customer reviews: Reading other borrowers’ experiences with a lender can help you uncover recurring problems or red flags. Conversely, consistently great customer reviews can give you peace of mind. Third-party review sites like the Better Business Bureau and TrustPilot may help inform your decision.

Requirements for a home equity loan

Qualifying for a home equity loan depends on both your financial profile and the lender’s specific criteria. Typically, lenders will consider your credit score, how much equity you’ve built in your home and your debt-to-income ratio.

While credit score requirements vary, some lenders will accept 620, though a score of 700 or higher will help you secure the best rates. As for your equity stake, some lenders may require at least 20 percent equity, while others will accept 15 percent. You’ll also want to be prepared for costs like appraisal fees, origination fees and closing costs, which can vary by lender.

How to get the best home equity loan rate

Getting the best rate starts with research. Shop around — don’t settle for the first offer you receive or a lender with whom you already do business (though do ask yours if it offers discounts for existing clients). Banks, credit unions and online lenders all vary widely in what they charge. Comparing at least three options can save you thousands in interest over the life of the loan.

Your rate is tied to your perceived creditworthiness. So, 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.

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

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.

Read more from Alice Holbrook

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