Upstart: 2026 Home Equity Review

How Bankrate scored Upstart

Affordability: 5 stars

Upstart earns a perfect 5 out of 5 for affordability due to its low rates and minimal fees.

• APR: Upstart’s rates are substantially lower than Bankrate’s average at the time of writing.
• Fees:  Unlike many HELOC lenders, Upstart doesn’t charge an annual fee, and there’s no prepayment penalty. However, you will have to pay an origination fee to open an account of between 0% and 4.99% of the approved credit limit.

Availability: 4.4 stars

Upstart scores a 4.4 out of 5 for availability because it accepts borrowers with lower credit scores, though its high loan minimum and draw requirement limit flexibility.    

• Licensing: Upstart is licensed in 38 states and Washington D.C., reaching a majority of the country.
• Credit score: You’ll need a credit score of at least 600 to be approved for Upstart’s HELOC, an extremely low score by home-equity lending standards.
• Loan minimum: Upstart’s HELOCs have a $26,000 minimum, higher than many home equity lenders.
• Draw requirement: When opening the account, you must make a minimum draw equal to 80% of your credit limit, minus the origination fee. Subsequent withdrawals must be at least $500. Not all lenders require a minimum initial draw, and among those that do, 80% is high.
• Loan products:  Upstart offers only HELOCs, but borrowers can lock a fixed rate on each draw. 

Borrower experience: 3.5 stars 

Upstart scores 3.5 for borrower experience. It offers fast HELOC funding, but its customer service hours and lack of rate transparency lower its score.

• Rate transparency: If you’re willing to check the fine print, Upstart advertises the lowest and highest APR on its website. However, to get a customized rate quote, you have to enter your address and other personal information. 
• Customer Service: You can reach Upstart by calling (833) 432-2215, Monday through Friday, between 9:00 AM and 5:00 PM PST. Note that, unlike many lenders, there are no weekend or evening customer service hours. Upstart is also available via email at heloc.support@upstartmortgage.com. 
• Convenience: Upstart recently introduced instant verification, which allows the company to approve a small percentage of borrowers instantly, without having to upload supporting documents, like pay stubs or a driver's license. The company plans to add more instant verification methods covering more users in the coming months. 

Upstart’s reputation

As of this writing, Upstart is accredited by the Better Business Bureau and gets an B+ rating. Out of more than 170 reviews, the company receives a rating of 1.23 stars, with users complaining that representatives are “horrible” and “unprofessional.” However, the company earns a 4.9 rating out of more than 57,000 reviews on Trustpilot, with users praising their customer service, speed and simplicity of the loan application process.