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Best Home Equity Lenders of 2018

Finding the Right Mortgage, Mortgages
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NerdWallet offers financial tools and advice to help you understand your options and make the best possible decisions. The guidance we offer and information we provide are deeply researched, objective and independent.

We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers. We’ve picked at least two lenders in several "best of" categories to help you find a lender that meets your needs.


If you have equity in your home — its market value is higher than what you owe on your mortgage — you can tap it for home improvements or other financial needs. You build  equity over time by paying down your home loan, and rising home prices can also make your house worth more.

Home-equity borrowing has an advantage: You get a lower interest rate than with a personal loan because your borrowing is backed by your home. Use your home’s equity with care — many financial pros suggest using home equity only for things that increase your home’s value.

NerdWallet reviews and rates mortgage lenders to find the best for home equity, home equity lines of credit (HELOCs) and cash-out refinancing.

Best home equity loan lenders

These lenders are leaders in offering fixed-rate home equity loans backed by your home.

navy_federal_credit_union_logo-55x270 4.0-stars
  • Expert in lending to military borrowers, with a wide choice of mortgage services
  • Operates in every U.S. state
  • Fixed-rate home equity loans let members borrow as much as 100% of the property’s value
  • Navy Federal mortgage review
loandepotlogo-270x55 4.5-stars
  • One of few non-bank lenders offering home equity loans
  • HELOCs are not available from Loan Depot
  • Plenty of opportunity to meet in person, with 180 affiliated loan stores nationwide
  • LoanDepot mortgage review

Best mortgage lenders for home equity lines of credit

These lenders specialize in offering adjustable-rate HELOCs that you can draw from over time using your home as collateral.

flagstar_logo-55x270 4.5-stars
  • Offers both HELOCs and fixed-rate home equity loans
  • Is an FHA lender
  • Caters to first-time home buyers
  • Flagstar Bank review
citimortgage 3.5-stars
  • Available in all 50 states
  • Customers can link their HELOC to checking or savings accounts
  • Customers can make HELOC withdrawals from Citi ATMs
  • CitiMortgage review

Best mortgage lenders for cash-out refinancing

Another home equity borrowing option is a cash-out refinance. These lenders offer cash-out refinance loans to their customers.

Rocket Mortgage 4.5-stars
  • Quicken’s Rocket Mortgage is the largest online mortgage lender in the U.S.
  • Completely automated application process imports income and employment information, credit score, property details and other data
  • Home equity loans and HELOCs are not among Rocket’s options
  • Rocket Mortgage review
BOA-logo 4.0-stars
  • Offers a range of refinancing loans, including fixed, adjustable, jumbo, FHA and VA
  • Prequalify for your cash-out refi by phone, by going online or by visiting a branch
  • Borrowers can choose a cash-out refinance through either a fixed-rate mortgage or an adjustable-rate mortgage
  • Bank of America review

Best home equity mortgage lenders: summary

More from NerdWallet

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.