BEST OF
Best Home Equity Loan Lenders of 2021
If you're interested in a home equity loan, we'll help you choose the best home equity loan lender. Our top picks of 2021 have an efficient application process, explain loan options clearly and tailor their services to your needs.
The best home equity loan lenders have an efficient application process, explain loan options clearly and tailor their services to the varying needs of individual borrowers.
NerdWallet has reviewed the leading lenders in the nation, and found some standouts when it comes to home equity loans. We have also shared some of our top picks for home equity lines of credit and cash-out refinances, which are two other ways to tap your home equity.
Consider your home equity loan needs and then shop the lenders below, confident that they're among the best.
The best home equity loan lenders have an efficient application process, explain loan options clearly and tailor their services to the varying needs of individual borrowers.
NerdWallet has reviewed the leading lenders in the nation, and found some standouts when it comes to home equity loans. We have also shared some of our top picks for home equity lines of credit and cash-out refinances, which are two other ways to tap your home equity.
Consider your home equity loan needs and then shop the lenders below, confident that they're among the best.
Summary of Best Home Equity Loan Lenders of 2021
| Lender | NerdWallet Rating | Minimum Credit Score | National / Regional | Learn More |
|---|---|---|---|---|
Best for cash-out refinance | 620 | National | at Guaranteed Rate | |
Best for cash-out refinance | 620 | Regional | at Reali Loans | |
Best for home equity loans | 620 | National | at Northpointe | |
Best for home equity loans | 620 | National | Read review | |
Best for home equity loans | N/A | National | Read review | |
Best for home equity loans | 620 | Regional | Read review | |
Best for home equity loans | 620 | National | Read review | |
Best for home equity loans | 640 | National | Read review | |
Best for home equity loans and lines of credit | 620 | National | Read review | |
Best for home equity line of credit | 620 | National | Read review | |
Best for home equity line of credit | N/A | National | Read review |
Our picks for
cash-out refinance
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
National / Regional
National
Pros
- Offers the ability to securely upload and digitally sign loan documents.
- Displays detailed sample rates for many of its refinance loan products.
Cons
- May charge an application fee.
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at Reali Loans
at Reali Loans
Min. Credit Score
620
National / Regional
Regional
Pros
- Offers a completely online application process.
- Provides customized rate quotes online.
Cons
- No FHA, VA or USDA refinance products.
- Available only in a dozen states.
Our picks for
home equity loans
at Northpointe
at Northpointe
National / Regional
National
Pros
- A full slate of loan offerings.
- Offers a no-down-payment loan with shorter repayment terms that helps accelerate home equity accumulation.
- Serves all 50 states plus the District of Columbia.
- A web app provides a number of customer conveniences.
Cons
- Doesn't offer construction loans at this time.
National / Regional
National
Max LTV
80%
Pros
- Offers a full line of conventional and government loan products.
- Provides home equity loans and lines of credit.
- Allows borrowers to apply and track their loan's progress online.
Cons
- No personalized mortgage rates available online.
- Published mortgage rates assume an above-average credit score.
National / Regional
National
Pros
- Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.
- Provides customizable mortgage rates on its website.
- Offers low rates and fees compared with other lenders.
Cons
- Charges a mortgage application fee.
- Requires help from a mortgage loan officer to complete the loan application online.
National / Regional
Regional
Max LTV
80%
Pros
- Offers a variety of low-down-payment mortgages as well as construction mortgages.
- Website lets users estimate rates online by loan and property type, amount and location.
- Has an online mortgage application.
Cons
- Branches limited to mostly the Southeast region.
- Does not offer FHA loans.
National / Regional
National
Max LTV
89%
Pros
- Offers a wide range of loan types and products, including FHA, VA and USDA.
- Has a full suite of online conveniences.
- Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.
Cons
- Home equity lending is geographically limited.
National / Regional
National
Pros
- Offers a range of fixed-rate and adjustable-rate mortgages in most states.
- Displays sample rates for its entire array of loan products, and you don't need to provide personal information to get a custom rate quote.
Cons
- Doesn't offer FHA, VA or USDA loans.
- Lacks document upload and online loan tracking capabilities.
Our pick for
home equity loans and lines of credit
Home equity lines of credit, or HELOCs, offer the convenience of drawing on your home's equity only as you need it.
National / Regional
National
Max LTV
84.9%
Pros
- Posts current mortgage rates on its website.
- Has an online application for mortgage preapproval and a digital tool to track application progress.
- Offers several affordable loan options including FHA, VA, USDA and the PNC Community Loan.
Cons
- Can't complete a full mortgage application online.
- Doesn't offer renovation mortgages.
- In-person service is not available in every state.
Our picks for
home equity line of credit
National / Regional
National
Max LTV
89.9%
Pros
- Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.
- Offers a complete suite of online mortgage application tools and loan tracking.
- Sample rates and fees are easy to find on the website.
Cons
- Customized rates aren't available online without starting an application.
- Branches are limited mostly to the Southeast.
National / Regional
National
Max LTV
90%
Pros
- Offers a broad selection of home loan products, including low-down-payment options for first-time home buyers and home buyers of limited means.
- Offers a lender credit, based on loan amount, for purchase mortgages.
- Offers relatively low mortgage rates in comparison to other lenders.
Cons
- Lender credit isn't available for refinance mortgages.
- Doesn't offer FHA loans.
More from NerdWallet Mortgage calculator Compare mortgage rates How much home can you afford?
Last updated on January 22, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best Home Equity Loan Lenders of 2021
- Guaranteed Rate: Best for cash-out refinance
- Reali Loans: Best for cash-out refinance
- Northpointe: Best for home equity loans
- US Bank: Best for home equity loans
- Citibank: Best for home equity loans
- BB&T (Truist): Best for home equity loans
- Flagstar: Best for home equity loans
- Connexus: Best for home equity loans
- PNC: Best for home equity loans and lines of credit
- SunTrust (Truist): Best for home equity line of credit
- PenFed: Best for home equity line of credit
