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Best Home Equity Loan Lenders of 2019

Finding the Right Mortgage, Mortgages
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.


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

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At U.S. Bank

National/regional

National

Max LTV

90%

Why we like it

Ideal for borrowers who want low fees. No closing costs and annual fee is waived for HELOC borrowers with an eligible checking account

 

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at PenFed Credit Union

National/regional

National

Max LTV

90%

Why we like it

Ideal for customers seeking more than plain-vanilla services. PenFed offers a traditional home equity loan as well as interest-only HELOCs and lines with rate adjustments every five years.

 

Read review

at NerdWallet

National/regional

National

Max LTV

70-80%

Why we like it

Ideal for those who prefer an online experience. Rate discounts available if you sign up for Citibank Auto Deduct and link your HELOC to a premier Citi banking account.

 

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at Navy Federal

National/regional

National

Max LTV

100% (military)

Why we like it

Ideal for military families. Navy Federal offers multiple home equity loan and line of credit options and will pay “most closing costs” on new equity loan applications.

 

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at BB&T Home Mortgage

National/regional

Regional

Max LTV

80%

Why we like it

Ideal for borrowers who want flexibility. Offers two payment options and the ability to convert all or part of the HELOC balance into a fixed-rate option.

 

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at loanDepot

National/regional

National

Max LTV

90%

Why we like it

Ideal for borrowers that want the convenience of an online experience. LoanDepot is one of the few non-bank lenders to offer a home equity product.

 

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at Flagstar Bank

National/regional

National

Max. loan to value

89%

Why we like it

Ideal for current Flagstar customers. Flagstar offers rate discounts for existing customers with high credit scores who withdraw at least $25,000 at closing.

 

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at Connexus

National/regional

National

Max LTV

90% (HEL)

Why we like it

Ideal for Connexus members who want the flexibility of a HELOC that lets them choose among two payment options. Connexus also has a complete line of home equity loan products.

 

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.

National/regional

National

Max LTV

90%

Why we like it

Ideal for equity borrowers looking for flexibility on loan terms. PNC HELOCs have locked fixed-rate terms of 5 to 30 years.

 

National/regional

National

Max LTV

89.9%

Why we like it

Ideal for homeowners who want flexibility. SunTrust offers a variable-rate HELOC where borrowers can convert all or part of the HELOC balance into a fixed-rate option.

 

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.

Learn more

at Reali Loans

Min. credit score

620

National / regional

Regional

Why we like it

Ideal for refinance customers in the states it serves. Lenda doesn’t charge upfront origination or broker fees on refinance loans, which close in around 36 days.

 

Read Review

at NerdWallet

Min. credit score

620

National / regional

National

Why we like it

Ideal for homeowners who are looking to refinance into conventional, FHA or VA mortgages. Guaranteed Rate works with almost anyone with a good credit score and stable income.

Best home equity loan lenders: summary

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How much home can you afford?

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.