Advertiser Disclosure

Best HELOC Lenders of 2018

Managing Your Mortgage, Mortgages
At NerdWallet, we adhere to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from our partners. Here’s how we make money.

A home equity line of credit, so often referred to as a HELOC, is a convenient way to draw on the value of your home — and tap the equity only as you need it. That’s a good thing, because your home’s long-term value can be a real wealth-building tool.

Having a HELOC to access can be a real budget saver, especially when you use your home’s equity for the right reasons.

NerdWallet has chosen some of the best mortgage lenders for a home equity line of credit in several categories, to help you find the one that’s right for you.

Best HELOC lenders for unique account features

If you’re seeking more than plain-vanilla HELOC services, these lenders offer special interest rate adjustments or unique fixed-rate options.

usbank-logo-55x270 3.0-stars
  • Variable as well as fixed-rate options
  • Customers can convert balances to as many as three fixed-rate options at one time
  • Shows selection of HELOC rates online
  • U.S. Bank mortgage review
penfed-logo-55x270 3.0-stars
  • HELOCs from $10,000 to $400,000
  • Closing cost credits available to certain applicants
  • Also offers HELOCs that offer rate adjustments every five years
  • PenFed mortgage review

Best HELOC lenders for face-to-face service

Lenders to choose when you are looking for convenient local branches. These national banks have thousands of locations, and there’s a good chance one is near you.

citimortgage 4.0-stars
  • Rates for home equity lines of credit are posted on its website and updated often
  • Discounts for Citibank customers
  • Available in all 50 states.
  • CitiMortgage review
Chase-logo 3.5-stars
  • No closing or application fees on HELOCs
  • Option to convert HELOC to fixed rate for up to 20 years
  • Charges a $50 origination fee and $50 annual fee
  • Chase mortgage review

Best HELOC lenders with financial flexibility features

These lenders offer HELOCs with services that provide a little extra financial flexibility. 

  • No closing costs for loans of $250,000 or less; other fees may apply
  • 0.25% discount for auto pay from PNC account
  • Fixed, variable, interest-only and principal and interest payment options available
  • PNC mortgage review
connexus_270x55 3.0-stars
  • Offers complete line of home equity loan products
  • HELOCs come with 15-year draw period, 15-year repayment period
  • Semi-annual rate adjustment
  • Connexus mortgage review

Best HELOC lenders with existing-customer perks

If you’re already a customer of these lenders, your loyalty may be rewarded with reduced fees and interest rate discounts.

suntrust mortgage 4.0-stars
  • Offers a broad array of home equity loan options
  • Borrowers can get rate discounts for taking immediate disbursement of funds at closing
  • No closing costs for existing customers who have been with the bank for 3 years
  • SunTrust mortgage review
flagstar_logo-55x270 4.5-stars
  • Offers a range of home equity loan products
  • Rate discounts for existing customers with high credit scores who withdraw at least $25,000 at closing
  • No annual fee for first year, then $75 per year
  • Flagstar Bank mortgage review

Best HELOC lenders for selection of mortgage products

Of the lenders we consider top notch, these have an outstanding selection of mortgage products to serve your long-term needs.

citimortgage 4.0-stars
  • Citibank customers can link their HELOC to their checking or savings account
  • HELOC withdrawals can be made from a Citi ATM
  • Available in all 50 states
  • CitiMortgage review
Chase-logo 3.5-stars
  • Interest rate discounts available for Chase checking account holders
  • Option to convert HELOC to fixed rate for up to 20 years
  • $50 annual fee can be waived for Chase checking account holders
  • Chase mortgage review

Best cash-out refinance lenders

A cash-out refi can be a solid alternative to home equity lines of credit, and you’ll often find it offered with a lower, fixed interest rate. Below are two cash-out refinance lenders, but be sure to review our entire list of the best cash-out refinance lenders.

Rocket Mortgage 4.5-stars
  • The largest online mortgage lender in the U.S.
  • Automated online application that imports employment and income data, credit scores, property info and more
  • Gives a cash-out refi decision in minutes
  • Rocket Mortgage review
loandepotlogo-270x55 4.5-stars
  • Offers full array of government mortgage programs, including FHA, VA, USDA
  • Has a “no steering policy” requiring their loan officers to help you pick the best product for you, not them
  • “Lifetime Guarantee” refinance program waives lender fees and reimburses appraisal costs for repeat customers
  • LoanDepot review

Best HELOC lenders: summary

  • Best for unique account features: U.S. Bank
  • Best for unique account features: PenFed
  • Best for face-to-face service: CitiMortgage
  • Best for face-to-face service: Chase
  • Best for financial flexibility features: PNC
  • Best for financial flexibility features: Connexus
  • Best for existing-customer perks: SunTrust
  • Best for existing-customer perks: Flagstar Bank
  • Best for selection of mortgage products: CitiMortgage
  • Best for selection of mortgage products: Chase
  • Best for cash-out refinance: Rocket Mortgage
  • Best for cash-out refinance: LoanDepot

More from NerdWallet
How much is my house worth?
The pros and cons of home equity lines of credit
Tips for getting best HELOC rates

NerdWallet’s selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.