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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.
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 we’ve found some of the standout home equity lenders in various borrower categories.
Consider your home equity loan needs and then shop the lenders below, confident that they’re among the best.
Best home equity loan lenders for service members and veterans
Borrowers who serve, or have served, their country in the military are the focus of these national lenders.
- Offers home equity loans and HELOCs
- Interest-only lines of credit allow borrowers to make lower monthly payments for a period of time
- A 5/5 HELOC offers an interest rate that adjusts once every five years
- PenFed Mortgage review
- Offers a 0.25% rate discount with automatic payments on home equity loans
- Offers a full selection of home equity loans, including HELOCs
- Navy Federal will pay “most closing costs” on new equity loan applications
- Navy Federal Credit Union Mortgage review
Best home equity loan lenders for a line of credit
Home equity lines of credit, or HELOCs, offer the convenience of drawing on your home’s equity only as you need it.
- Offers a variable-rate HELOC that can be converted into a fixed-rate option
- No closing costs, as long as your account is open for at least three years
- Existing SunTrust clients are eligible for a 0.25% discount on their HELOC interest rate
- SunTrust mortgage review
Home equity loan lenders with the best online experience
These lenders offer home equity loans and the convenience of an online application process.
- Offers home equity loans and HELOCs
- For in-person service, has more than 2,200 financial centers, primarily in the Southeast
- Scores high marks for its online capabilities
- BB&T review
- One of the few non-bank lenders to offer home equity loans
- Is rolling out an $80 million technology upgrade
- Does not offer home equity lines of credit
- LoanDepot mortgage review
Best home equity loan lenders for face-to-face service
These national lenders have thousands of locations across the country. Chances are, there’s an office near you.
- Offers home equity loans with terms from 5 to 30 years
- Also has a home equity line of credit that offers flexible withdrawals
- Available in all 50 states.
- CitiMortgage review
- No up-front costs or application fees on home equity loans
- With a fixed interest rate, you get a predictable monthly payment
- Loan terms up to 30 years
- U.S. Bank mortgage review
Best home equity lenders with financial flexibility features
These lenders offer home equity loans that provide some unique financial flexibility features.
- No prepayment penalty on home equity loans
- A good selection of home equity tapping products
- Fixed-interest rate for the life of your loan
- Flagstar Bank mortgage review
- Borrow up to 90% of your home’s equity
- Terms available from 5 to 20 years
- Fixed-interest rate with lump sum withdrawal
- Connexus mortgage review
Best cash-out refinance lenders
A cash-out refi can be a solid alternative to home equity loans, 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.
- Charges no origination fees or broker commissions on refinance loans
- Fully automated online cash-out refi experience
- Shorter loan process than with traditional lenders, including a decision within hours
- Lenda review
- Offers a completely digital mortgage platform for cash-out refis
- Has hundreds of high marks and positive reviews on sites such as the Better Business Bureau, Yelp and LendingTree
- Boasts a more than a 95% customer satisfaction rate
- Guaranteed Rate review
Best home equity loan lenders: summary
- PenFed Credit Union: Best for service members and veterans
- Navy Federal: Best for service members and veterans
- PNC Mortgage: Best for home equity lines of credit
- SunTrust: Best for home equity lines of credit
- BB&T Home Mortgage: Best for online experience
- loanDepot: Best for online experience
- CitMortgage: Best for face-to-face service
- U.S. Bank: Best for face-to-face service
- Flagstar Bank: Best for financial flexibility features
- Connexus: Best for financial flexibility features
- Lenda: Best cash-out refinance lenders
- Guaranteed Rate: Best cash-out refinance lenders