HELOC Rates: Compare Top Lenders in February 2026
Offers current as of February 11, 2026 4:04 AM EST
NMLS#449104
Min. credit score
670
Min. credit score
670
Min. loan amount
$10,000
Max. loan amount
$1,000,000
Max LTV
85%
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The Nerdy headline
FourLeaf's HELOC features no origination or annual fee and solid customer support, but be prepared for a slower closing.
HELOCs
NerdWallet rating5.0
- Sample HELOC rates are posted online.
- Generous introductory rate, below the prime rate.
- Offers a fixed-rate option.
- HELOCs are not available for second homes.
- Slower average time to close than many lenders surveyed by NerdWallet.
NMLS#1810501
Min. credit score
600
Min. credit score
600
Min. loan amount
$15,000
Max. loan amount
$300,000
Max LTV
85%
Show details
The Nerdy headline
Achieve's HELOC has flexible terms and an unusual fixed rate, but the draw period is shorter than other lenders'.
HELOCs
NerdWallet rating4.0
- Sample HELOC rates are posted online.
- Fixed interest rates make payments predictable.
- Faster average time to close than many lenders surveyed by NerdWallet.
- You must withdraw the full loan amount at closing.
- Five year draw period is shorter than typical.
- HELOCs are not available for second homes.
NMLS#1717824
Min. credit score
600
Min. credit score
600
Min. loan amount
$15,000
Max. loan amount
$750,000
Max LTV
85%
Show details
The Nerdy headline
Online lender Figure is one of the top HELOC lenders in the nation by loan volume. The main appeal is its fast closing, but you’ll need to draw 100% of the line amount at closing and only have five years to keep borrowing.
HELOCs
NerdWallet rating4.0
- Faster average time to close than many lenders surveyed by NerdWallet.
- A rate discount is available to some borrowers.
- No annual fee.
- You must withdraw the full loan amount at closing.
- Does not post sample HELOC rates online.
NMLS#6606
Min. credit score
620
Min. credit score
620
Min. loan amount
$25,000
Max. loan amount
$750,000
Max LTV
90%
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The Nerdy headline
New American Funding’s home equity loans feature flexible terms, relatively speedy closings and high borrowing limits, but lack rate transparency.
Home equity loans
NerdWallet rating5.0
- Offers a higher than typical borrowing limit.
- Flexible term options.
- Faster average time to close than many lenders surveyed by NerdWallet.
- Appraisal required.
- Does not post sample home equity loan rates online.
NMLS#3030
Min. credit score
680
Min. credit score
680
Min. loan amount
$45,000
Max. loan amount
$350,000
Max LTV
90%
Show details
The Nerdy headline
Rocket Mortgage’s home equity loans offer high borrowing limits and solid access to customer support, but lack rate transparency and longer, flexible term options.
Home equity loans
NerdWallet rating3.5
- Offers a higher than typical borrowing limit.
- Home equity loans are available for second homes.
- Easy access to customer support.
- Limited term options.
- Appraisal required.
- Does not post sample home equity loan rates online.
NMLS#2443873
Min. credit score
600
Min. credit score
600
Min. loan amount
$26,000
Max. loan amount
$250,000
Max LTV
95%
Show details
The Nerdy headline
Good for: High combined loan-to-value ratio
HELOCs
NerdWallet rating
4.0
- Offers lines of credit up to 95% of homeowner’s equity.
- No fees for transactions, inactivity or early repayment.
- No annual fee.
- Not available in all states.
- Charges an origination fee.
- Low maximum loan amount compared with other lenders.
NMLS#2611
Min. credit score
680
Min. credit score
680
Min. loan amount
N/A
Max. loan amount
$400,000
Max LTV
90%
Show details
The Nerdy headline
Rate’s home equity loans feature high borrowing limits and flexible long-term options, but lack transparent rate information. Be aware that the loan will come from a third-party partner.
Home equity loans
NerdWallet rating4.5
- Offers a higher than typical borrowing limit.
- Flexible term options, including terms of 30+ years.
- Home equity loans are available for second homes.
- Does not post sample home equity loan rates online.
- Slower average time to close than many lenders surveyed by NerdWallet.
- Originates home equity loans with a third-party partner.
NMLS#1464945
Min. credit score
640
Min. credit score
640
Min. loan amount
$25,000
Max. loan amount
$500,000
Max LTV
95%
Show details
The Nerdy headline
Good for: Flexible loan terms
Home equity loans
NerdWallet rating
4.5
- Terms range from 5 to 30 years.
- Available for investment properties or second homes.
- Closing can take as little as 20 days.
- Doesn’t publish home equity loan rates online.
- Charges closing costs, but as a flat fee.
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About these rates: The lenders whose rates appear on this table are NerdWallet's advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender's site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner's assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.
HELOCs Explained: How They Work and How to Get the Best Rate
A home equity line of credit, or HELOC, is a second mortgage that allows homeowners to borrow against the value of their homes.
Taylor Getler
Johanna Arnone
What is a HELOC?
How does a HELOC work?
- Draw period: You can borrow from the credit line, and minimum monthly payments are usually interest-only (though it’s a good idea to pay toward principal). The draw period is usually 10 years, but this can vary by lender.
- Repayment period: You can no longer borrow against the credit line, and the minimum monthly payments include principal and interest until you pay off the loan. The repayment period usually lasts up to 20 years.
Today’s HELOC rates: What to expect
Current rate trends
Nerdy Tip
Current prime rate — last changed Dec. 2025 | Prime rate last week | Prime rate in the past year — low | Prime rate in the past year — high | Projected median prime rate for 2026 |
|---|---|---|---|---|
6.75% | 6.75% | 6.75% | 7.5% | 6.4% |
How to get the best HELOC rate
Get your financial profile in shape
- Enough home equity: Most lenders will allow you to borrow up to 85% of the value of your home, minus what you owe — meaning your equity needs to be at least 15%-20%.
- A strong credit score: Borrowers with scores above 740 are more likely to receive the best available rate offers.
- Low existing debt: A debt-to-income ratio (the percentage of your income that’s allocated to monthly debt obligations) of 36% or lower will give you the best chances of getting attractive HELOC rate offers.
Shop lenders with the best HELOC rates and fees
How much does a HELOC cost?
Pros and cons of HELOCs
- You pay interest only on the amount you have borrowed. If you have a credit line limit of $50,000, and you borrow $10,000, your interest only applies to the amount you withdrew.
- Interest-only payments during the draw period.
- Offers flexibility to borrow as you need it.
- A variable interest rate means that your monthly payments may go up.
- You could lose your home if you fail to repay.
Alternatives to HELOCs
Home equity loans
Cash-out refinances
Personal loans
Home equity sharing agreements
NerdWallet’s HELOC reviews
Learn more about HELOCs
Check out our other mortgage and refinance tools
Frequently asked questions
What should I look for in a HELOC lender?
In addition to getting the best rate offer, you’ll want to evaluate a lender’s requirements before making a choice.For example, does the lender require a minimum initial draw? If so, is this more than what you want to borrow? Does the lender offer repayment terms that will allow you to comfortably keep up with monthly payments? Will you have to pay closing costs?The best HELOC lender for you will align with your needs and qualifications as a borrower.Is it a bad idea to get a HELOC right now?
Whether or not a HELOC makes sense for you depends on your goals. You take on risk when you borrow against your equity, as you could lose your home if you can’t make your payments. It’s a smarter move to use a HELOC for something that will reinvest in the home and grow your wealth, like putting on a new roof or installing central air. Expenses that aren’t worth this risk — such as a vacation or a wedding — aren’t typically a good use of HELOC funds.Most HELOCs have a variable rate, so you’ll also want to make sure that you can afford to continue making payments even if the interest rate goes up.How do I get a HELOC?
A HELOC requires you to provide some of the same documentation you gave when you got the mortgage to buy the home: at minimum, your Social Security number, proof of income and estimated home value. The lender will check your credit report.After applying, you'll be given a stack of disclosures to read. Underwriting may take anywhere from hours to weeks, and then you'll close on the credit line, similar to closing on the purchase mortgage.How much HELOC can I get?
The amount that you can borrow with a HELOC depends on the amount of equity you have in your home, the value of your home, and your financial profile. You can find your estimated borrowing limit using NerdWallet’s HELOC calculator.Is HELOC interest tax-deductible?
HELOC interest accrued from 2018 to 2025 is only tax-deductible if the borrower meets certain IRS guidelines. Under these conditions, HELOC interest is tax-deductible only if the loan was for a primary or secondary home and if the funds were used to buy, build or substantially improve the home.
