Best home equity loan lenders for October 2026

When shopping for a home equity loan, the interest rate is often the biggest factor. But you should also consider: 

• 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.

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, among other things.

Credit score requirements vary; some lenders will accept 620, though some require 680 or higher, and a score of at least 700 will help you secure the best rates. As for your equity stake, some lenders may require at least 20% equity, while others will accept 15%. You’ll also want to prepare for closing costs, which vary by lender. Some don’t charge them for home equity products, but they may have other fees.

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.

Improving your credit score before applying can make a big difference, as your rate is tied to your perceived creditworthiness. Paying down debts, catching up on late payments and lowering credit card balances can boost your score and help you qualify for better rates.

Timing can also play a role in the rate you ultimately get. Home equity rates are impacted by economic conditions, so even a small drop or rise in rates can influence your monthly payment and total cost.

To identify the best lenders for home equity loans, 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 4.4 out of 5 or higher and offer home equity loans appear on this page. 

To receive a top score from Bankrate, lenders must offer a rate lower than Bankrate’s tracked average. 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 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. Lenders receive penalties against their total scores for each consent decree, penalty in a case brought by a federal regulator or in a certified, federal class-action lawsuit, or adverse federal judgment for harming home-equity borrowers. 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 4.4 or higher, due to eligibility restrictions or limited availability (15 or fewer states).