🏆 Better is NerdWallet's Best Home Equity Loan Lender of 2026
Better is NerdWallet's pick for best home equity loan lender in 2026. Here's how we weighed 40 different lenders to calculate our decision.
A guide to the best home equity loan lenders, from the Nerds who chose them
Among all lenders surveyed by NerdWallet, these lenders proved themselves to be the most flexible, affordable and transparent for home equity loan borrowers.
Here’s what makes the best home equity loan lenders stand out this month.
Better: “exactly the kind of highly shoppable features we want to see” When we checked out Better’s home equity loan rates page, we were delighted with the lender’s unusual degree of transparency. While many lenders won’t even show you home equity rates until you apply for preapproval, Better breaks down its sample rates by ZIP code, repayment terms and points purchased right on its site. These are exactly the kind of highly shoppable features we want to see for home equity loan borrowers.
Biggest reason I put them on this Best Of list: Rate shopping
Veterans United: “some of the fastest home equity loan closing times that we’ve seen” With an average reported time to close of just 10 to 14 days, Veterans United offers some of the fastest home equity loan closing times that we’ve seen. These loans are originated through a third party, so keep in mind that this could affect communication.
Biggest reason I put them on this Best Of list: Fast closing
We’re always looking out for readers with non-traditional income situations who aren’t always served by mainstream lenders. CrossCountry offers alternative income documentation for home equity loan borrowers, making it a great choice if you’re a self-employed homeowner. CrossCountry also earns points for making its home equity loans available to a wide range of financial profiles.
Biggest reason I put them on this Best Of list: Home equity loan accessibility
SoFi: “one of the most accessible home equity loan providers that we’ve reviewed” SoFi ranks as one of the most accessible home equity loan providers that we’ve reviewed, making these products available to a wide range of financial profiles. If you need a lender with flexible application requirements, SoFi could be a great choice. You might also be able to close quickly — according to the lender, about half of borrowers are ready to close within seven days of submitting their completed application.
Biggest reason I put them on this Best Of list: Home equity loan accessibility
AmeriSave: “a major player in the home equity loan space” Among other reasons, AmeriSave earns its place on this list for being a major player in the home equity loan space. Why I think you should care about this: As somebody who regularly calls lenders and talks to customer service reps, I can tell you that it’s not unusual to get passed around to different agents until you can finally talk to a specialist who knows about home equity loans. If a lender doesn’t originate many HELOANs, the customer service process can be frustrating, since agents may not be fully trained on them. On the flip side, when a lender has made home equity loans a priority, it usually also comes with an efficient customer support system for those borrowers.
Biggest reason I put them on this Best Of list: Home equity expertise
LoanDepot: “the sort of feature worth paying attention to” Among all of the home equity loan lenders that we surveyed, LoanDepot was one of the only ones to report having no appraisal requirement. If you’re looking for a streamlined application process with minimal opportunities for delays or hiccups, this is the sort of feature worth paying attention to.
Biggest reason I put them on this Best Of list: No appraisal requirement
Guild: “a great choice for borrowers buying high-value properties” Guild’s home equity loan comes with a unique feature: borrowers can use it as a “piggyback” loan, meaning that you can get the home equity loan at the same time as the primary mortgage. This makes Guild a great choice if you’re buying a high-value property and want to avoid getting a jumbo loan. By getting a smaller primary mortgage within the conforming loan limits and using a home equity loan to pay off the rest of the purchase price, you can avoid some of the inconveniences that come with a jumbo loan — namely, steep down payment requirements. Guild also offers flexible repayment options, with terms ranging from five to 30 years.
Biggest reason I put them on this Best Of list: Flexible repayment terms
Rocket Mortgage: “the largest player in the home equity loan market by far” Among all lenders we surveyed, Rocket Mortgage is the largest player in the home equity loan market by far. If you prioritize home equity loan expertise — along with a high borrowing limit, flexible repayment terms and fast closing — Rocket is the way to go.
Biggest reason I put them on this Best Of list: Home equity loan expertise
The No. 1 reason to go with Flagstar for your home equity loan is that the lender doesn’t charge closing costs. These fees often cost anywhere from 2% to 5% of the loan amount, so avoiding them can save you thousands of dollars. One thing to note: Flagstar doesn’t really advertise its home equity loans on its website, so you’ll have to reach out for more information.
Biggest reason I put them on this Best Of list: Low fees
With a maximum borrowing limit of 95% CLTV, Andrews Federal Credit Union lets you access more of your equity than most HELOAN lenders. I was also pleasantly surprised to see the lender advertising home equity loan rates below prime on its website — a feature typically reserved for introductory HELOC rates.
Biggest reason I put them on this Best Of list: High borrowing limit
Lower Mortgage: “a great option for a personalized customer service experience” My favorite feature on Lower’s website is its loan officer search tool, which lets you find a mortgage loan officer (MLO) in your area and search through their bios to find an expert in home equity lending. If you prioritize having a personalized customer service experience, Lower could be a great option. Lower also scores well for its high borrowing limit, range of term options, relatively fast closing and availability for second homes.
Biggest reason I put them on this Best Of list: Customer service
U.S. Bank: “provides way more info than your typical home equity loan lender” U.S. Bank is another lender that can save you thousands of dollars by not charging closing costs. Additionally, I’ve always found U.S. Bank to have the best website among all the home equity loan lenders that we review. It provides way more info than your typical lender, including minimum credit requirements and transparent, customizable rates (without needing to apply for preapproval).
Biggest reason I put them on this Best Of list: Rate shopping
NewRez: “one of the highest home equity loan limits” Among lenders reviewed by NerdWallet, NewRez offers one of the highest home equity loan limits (95% CLTV). This makes NewRez a solid choice if you need to access a lot of cash, or if you haven’t been in your home long enough to build up much equity. The lender also has an “express underwriting” loan process, which can mean faster closing.
Biggest reason I put them on this Best Of list: High borrowing limit
Getting the best home equity loan rate
Your home equity loan rate is determined by financial qualifications, such as:
Debt-to-income ratio, or DTI. This is the percentage of your monthly income that is set aside for your other debts, like car payments and student loans. A DTI ratio no higher than 43% will help you qualify with most lenders. Credit score. Most lenders on this list look for a minimum credit score of 680 or higher.
The amount you’re borrowing. Lenders’ lowest advertised rates usually assume that the loan is worth a minimum amount. For example, the lender might give the best rate offers to borrowers taking out at least 60% of their home equity.
Calculate your home equity loan amount and payments
Alternatives to a home equity loan
Home equity loans aren’t your only option for accessing equity. HELOCs and cash-out refinances also allow you to turn some of your home equity into cash.
A line of credit that you borrow against as you need it. You don’t need to know exactly how much you’ll need beforehand, just an estimate.
Has an adjustable interest rate. This means that your interest rate will change over the life of the loan. Some lenders also offer a fixed-rate option.
Features of the loan | HELOC | Home equity loan |
|---|
Loan funding | You can draw funds as needed, up to a certain limit (typically a percentage of your equity). | You receive a lump sum at closing (typically a percentage of your equity). |
Terms | Begins with a draw period (typically 10 years) with interest-only minimum payments. This is followed by a repayment period (often up to 20 years) that requires you to pay back principal and interest. | Repayment periods are often up to 30 years. Minimum payments include both interest and principal. |
Rates | | Fixed |
Borrowing limits | You can typically borrow between 80%-85% of the equity in your home. Some lenders allow for more. Use NerdWallet's HELOC calculator for personalized details. | You can typically borrow between 80%-85% of the equity in your home. Some lenders allow for more. Use NerdWallet’s home equity loan calculator for personalized details. |
Lenders | | See top of page. |
Replaces your mortgage with a larger new loan.
You get the difference between the new higher loan amount and the amount owed as a cash payment.
Interest rates are generally higher than a standard refinance, but lower than home equity loans or HELOCs.
