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Best HELOC Lenders of December 2025
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Best HELOC Lenders of December 2025

Taylor Getler
Dawnielle Robinson-Walker
Taylor Getler
+1
Written by 

Taylor Getler

,  Edited by 

Dawnielle Robinson-Walker

Written by 

Taylor Getler

 and 
1 other
Last updated 11/26/2025
HELOCs can get you great terms and flexibility with the home equity you’ve built.
 

This service is free and will not affect your credit score.

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Best for Rate discounts

FourLeaf Federal Credit Union

NMLS#449104

NerdWallet rating

5.0

HELOCs
Max LTV

85%

Max. loan amount

$1M

Min. credit score

670

GET MY RATE🏆 Most visited

Our take on FourLeaf Federal Credit Union

The Nerdy headline

Fourleaf's HELOC features no origination or annual fee and solid customer support, but be prepared for a slower closing.

What we like
  • Sample HELOC rates are posted online.
  • Generous introductory rate, below the prime rate.
  • Offers a fixed-rate option.
What we don't like
  • HELOCs are not available for second homes.
  • Slower average time to close than many lenders surveyed by NerdWallet.
Read our full review of FourLeaf Federal Credit Union

Best for North Carolina borrowers

State Employees' Credit Union

NMLS#430055

NerdWallet rating

4.5

HELOCs
Max LTV

90%

Max. loan amount

N/A

Min. credit score

600

GET MY RATE

Our take on State Employees' Credit Union

The Nerdy headline

NC SECU's HELOC delivers low fees and a high borrowing limit, but closing may be slower. Credit union membership is limited.

What we like
  • Sample HELOC rates are posted online.
  • Offers a higher than typical borrowing limit.
  • No annual fee.
What we don't like
  • No fixed-rate option.
  • Slower average time to close than many lenders surveyed by NerdWallet.
Read our full review of State Employees' Credit Union

Best for Fixed-rate option

U.S. Bank

NMLS#402761

NerdWallet rating

4.5

HELOCs
Max LTV

80%

Max. loan amount

N/A

Min. credit score

660

GET MY RATE

Our take on U.S. Bank

The Nerdy headline

U.S. Bank's HELOC has no origination fee and no initial draw requirement. However, the lender charges a $75 annual fee (waived for those with a U.S. Bank Platinum checking account).

What we like
  • Online tool lets you customize sample rate by location.
  • Offers a fixed-rate payment option.
What we don't like
  • Charges an annual fee.
  • Slower average time to close than many lenders surveyed by NerdWallet.
  • Has a lower than typical borrowing limit.
Read our full review of U.S. Bank

Best for Military borrowers

Navy Federal

NMLS#399807

NerdWallet rating

5.0

HELOCs
Max LTV

95%

Max. loan amount

$500K

Min. credit score

Undisclosed

GET MY RATE

Our take on Navy Federal

The Nerdy headline

Navy Federal Credit Union, a top HELOC lender by loan volume, stands out for its high borrowing limit and long draw period of 20 years. Credit union membership is limited.

What we like
  • Sample HELOC rates are posted online.
  • Offers a higher than typical borrowing limit.
  • 20-year draw period is longer than most.
What we don't like
  • No fixed-rate option.
  • Slower average time to close than many lenders surveyed by NerdWallet.
Read our full review of Navy Federal

Best for Rates shopping

TD Bank

NMLS#399800

NerdWallet rating

5.0

HELOCs
Max LTV

89.90

Max. loan amount

N/A

Min. credit score

620

GET MY RATE

Our take on TD Bank

The Nerdy headline

TD Bank is a major HELOC lender, featuring a high borrowing limit and the option to fix your rate. Borrowers with a TD Bank checking account can get a rate discount.

What we like
  • Borrowers can personalize HELOC rates online.
  • Introductory rate is below the prime rate.
  • Offers a higher than typical borrowing limit.
What we don't like
  • Charges an annual fee.
  • Average time to close is not clear.
Read our full review of TD Bank

Best for Fast closing

PenFed

NMLS#401822

NerdWallet rating

5.0

HELOCs
Max LTV

85%

Max. loan amount

$500K

Min. credit score

N/A

GET MY RATE

Our take on PenFed

The Nerdy headline

PenFed’s HELOC is a solid choice for borrowers who want a standard HELOC. This easy-to-join credit union offers a relatively fast closing, but charges an annual fee of $99.

What we like
  • Sample HELOC rates are posted online.
  • Faster average time to close than many lenders surveyed by NerdWallet.
  • Offers a fixed-rate option.
What we don't like
  • Charges an annual fee.
  • No rate discounts are advertised.
Read our full review of PenFed

Best for Low introductory rates

Truist

NMLS#399803

NerdWallet rating

4.5

HELOCs
Max LTV

89%

Max. loan amount

N/A

Min. credit score

575

GET MY RATE

Our take on Truist

The Nerdy headline

Truist, one of the largest HELOC lenders in the country, offers an interest rate below prime for the first nine months, and borrowers can get a rate discount. However, you won’t find customized rates online.

What we like
  • Generous introductory rate, below the prime rate.
  • Offers a higher than typical borrowing limit.
  • A rate discount is available to some borrowers.
What we don't like
  • Does not post sample HELOC rates online.
  • Charges an annual fee.
  • Slower average time to close than many lenders surveyed by NerdWallet.
Read our full review of Truist

Best for Low introductory rates

PNC Bank

NMLS#446303

NerdWallet rating

4.5

HELOCs
Max LTV

85%

Max. loan amount

$500K

Min. credit score

680

GET MY RATE

Our take on PNC Bank

The Nerdy headline

PNC, a large HELOC lender, offers an intro rate below prime for the first six months, a wide range of repayment terms and no initial draw requirements. However, there is an annual fee of $50.

What we like
  • Sample HELOC rates are posted online.
  • Introductory rate is below the prime rate.
  • A rate discount is available to some borrowers.
What we don't like
  • Charges an annual fee.
  • Slower average time to close than many lenders surveyed by NerdWallet.
Read our full review of PNC Bank

Best for HELOC loan volume

Bank of America

NMLS#399802

NerdWallet rating

5.0

HELOCs
Max LTV

85%

Max. loan amount

N/A

Min. credit score

660

GET MY RATE

Our take on Bank of America

The Nerdy headline

Bank of America's HELOC features no annual fee as well as options for a rate discount and fixed rate, but time to close may be opaque.

What we like
  • Borrowers can personalize HELOC rates online.
  • Major HELOC lender, by loan volume.
  • A rate discount is available to some borrowers.
What we don't like
  • Average time to close is not clear.
  • Mobile app may not cater to HELOC borrowers.
Read our full review of Bank of America

Best for Fixed-rate option

CrossCountry Mortgage

NMLS#3029

NerdWallet rating

4.5

Max LTV

85%

Max. loan amount

N/A

Min. credit score

640

GET MY RATE

Our take on CrossCountry Mortgage

The Nerdy headline

CrossCountry's HELOC features flexible options for draw and repayment periods, but requires an initial withdrawal.

What we like
  • Faster average time to close than many lenders surveyed by NerdWallet.
  • Especially flexible draw and repayment terms.
What we don't like
  • Does not post sample HELOC rates online.
  • You must withdraw some funds at closing.
Read our full review of CrossCountry Mortgage

How we chose the best HELOC lenders

Our team of mortgage experts follows an objective, consumer-first methodology to assess HELOC lenders and pick the best.

30+

Lenders reviewed

We review more than 25 lenders, including major banks, credit unions, and online lenders operating across multiple states.

15+

Categories assessed

Each lender is evaluated across six weighted categories and 16 subcategories covering product terms, rates and fees, loan volume and customer experience.

40+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually for reviewed lenders, ensuring up-to-date, accurate comparisons.

Star rating categories

We evaluate the following categories and carefully weigh how each factor impacts your experience.
Rates and fees

25%

We evaluate lenders based on the structure of their rates and fees. This includes whether the lender offers a fixed-rate option, the length of an introductory rate below prime and whether it charges annual or origination fees.

Draw and repayment terms

20%

We measure the flexibility of the lender’s draw and repayment terms, which is determined by whether an initial draw is required, the length of the draw period and the maximum repayment term.

HELOC loan volume

10%

We use data based on Inside Mortgage Finance Surveys and public sources to track the largest HELOC lenders by volume.

Product transparency

25%

We consider borrowers’ average time to close and whether sample rates are available online, as well as whether HELOCs are available for second homes.

Customer experience (application and support)

10%

We consider the customer experience from an accessibility perspective, both during the application process and when customer support is required.

Maximum borrowing limit

10%

We assess the maximum amount of equity that borrowers are allowed to borrow. This is the combined-loan-to-value ratio, or CLTV.

5.0

Overall score

NerdWallet has evaluated and reviewed more than 30 HELOC lenders. This includes products from the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country. NerdWallet writers and editors conduct a full review and update annually, and also make updates throughout the year as necessary.
NerdWallet’s HELOC star ratings are independently researched and developed by the editorial team based on the following factors: HELOC lending volume, maximum combined loan-to-value ratio, whether a fixed-rate option is available, initial draw requirements, flexibility of draw and repayment terms, average time to close, interest rate transparency, length of any introductory term below the prime rate, lender fees, availability for second homes, application availability and customer support options. Lenders can receive bonus points for offering options for HELOC rate discounts. A recent regulatory action against a lender may affect its HELOC star rating.

Home equity line of credit calculator

See if you could be eligible for a HELOC and estimate how much you could borrow

You could borrow

$97,500

Current LTV:57%

This calculator assumes an 85% max LTV, which could differ depending on lender.

Get a quote

Tips for getting a HELOC

In order to qualify for a HELOC, you’ll need to meet lenders’ minimum requirements. These can vary across lenders, but following the below guidelines will help you qualify with the widest range of lenders.
🏠 Enough home equity. Most lenders will allow you to borrow up to 80%-85% of the value of your home, minus any other mortgage debt.
💳 A solid credit score. Most lenders will want to see a score of at least 640, and some have higher minimums.
⚖️ Minimal debt. Lenders will look at the percentage of your income that goes towards monthly debt obligations (called your debt-to-income ratio, or DTI). A DTI of 43% or less will help you qualify with the most lenders.

Getting the best HELOC rate

To obtain the best HELOC rates, make sure you shop around with at least three lenders. This will help you find the combination of features and interest rates that make the best HELOC for your needs.
The best rates are also typically reserved for borrowers with strong credit scores (740 and higher). While a DTI of 43% is the maximum to qualify for a HELOC with many lenders, a ratio of 36% or less will help you get the best rate offers.

Alternatives to a HELOC

A HELOC is not your only option for tapping your home's equity.

1. Home equity loan

You borrow a percentage of your home equity as a lump sum loan and pay it back at a fixed rate.
Who it's for:
  • Borrowers who know exactly how much they need to borrow, and want it all at once.
  • Borrowers who prefer the predictable payments that come with a fixed interest rate.
» MORE: Shop NerdWallet’s best home equity loan lenders

2. Cash-out refinance

This replaces your current mortgage with a new, larger loan, and you pocket the difference. You’ll have a new interest rate and new repayment terms.
Who it's for:
  • Borrowers who want to refinance their current mortgage and take cash out.
  • Borrowers who prefer to manage one loan.
» MORE: Shop NerdWallet’s best cash-out refinance lenders

3. Home equity investment

An investment company gets a large chunk of the future value of your home. In exchange, you get a loan with no monthly payments. This can be much more expensive than paying interest, and most consumers are better served by a HELOC if they qualify.
Who it's for:
  • Borrowers who can’t qualify for a HELOC, but need cash flow.
  • Homeowners with a lot of equity but little savings.
» MORE: Read more about home equity investments

Frequently asked questions

  • What credit score do you need for a HELOC?

    Lender requirements for a HELOC vary, but typically you'll need a credit score of 620 or higher. As with other hard credit inquiries, taking out a HELOC will probably reduce your credit score temporarily when it appears on your credit report.

  • Is a HELOC tax-deductible?

    The interest you pay each year on a HELOC is tax-deductible up to a limit as long as the borrowed money is used to buy, build or substantially improve your home, according to the IRS. This requirement expires after the 2025 tax year.

  • What is the monthly payment on a $50,000 HELOC?

    Your HELOC payment will depend on several factors — mainly, your interest rate and repayment term.
    For example, if you withdrew $50,000 from a HELOC at a variable interest rate of 9.13%, your minimum monthly payment would start at around $400 per month. This amount would change any time you get a new interest rate. It would also increase after the 10-year draw period ends and your monthly minimum payments begin to include the principal balance.

  • How do I get approved for a HELOC?

    You have the best chances of getting approved for a HELOC if you have at least 20% equity in your home, a credit score that is at least in the mid-600s, and little debt. Use NerdWallet’s HELOC calculator to see how much you could be approved to borrow with a HELOC.