Best home equity loan lenders
National
90%
Ideal for borrowers who want low fees. US Bank does not require application fees or closing costs on home equity loans. Origination fee is optional.
National
90%
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.
National
70-80%
Ideal for those who prefer an online experience. Rate discounts available if you sign up for Citibank Auto Deduct and link your HEL to a premier Citi banking account.
National
100% (military)
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.
Regional
80%
Ideal for borrowers seeking low fees. BB&T pays for the appraisal and does not charge prepayment fees.
National
90%
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.
National
89%
Ideal for those that are already a customer of Flagstar. Flagstar offers rate discounts for existing customers with high credit scores who withdraw at least $25,000 at closing.
National
90%
Ideal for the homeowner who wants flexible repayment terms. Choose a repayment period of five to 20 years, with a fixed interest rate.
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
90%
Ideal for equity borrowers looking for flexibility on loan terms. PNC HELOCs have locked fixed-rate terms of 5 to 30 years.
National
89.9%
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.
620
National
Ideal for refi borrowers with little time. Rocket Mortgage brings smart-phone app convenience to the refinance process. And online income and asset verification speeds the process.
620
National
Ideal for refinancing online or in person. Loan Depot has a fully-online application process as well as hundreds of affiliated lending centers across the nation. Well-rated for low customer complaint volume, too.
Regional
80%
Ideal for borrowers seeking low fees. BB&T pays for the appraisal and does not charge prepayment fees.
580/ 550 for FHA 30-year
3%
Ideal for borrowers with low credit scores. About 95% of the mortgages Carrington makes are FHA, VA or USDA. About 45% of Carrington borrowers have FICO scores under 650.
Credit Union of Texas
Website: http://www.cuoftexas.org/schoolzone.html
Eligibility: Membership is open to anyone who:
- Lives and works in Dallas, Collin, or Rockwall Counties; and the Lewisville, Red Oak, and Midlothian school districts
- Is a student attending an institution of higher learning in Dallas, Collin, and Rockwall Counties (includes trade schools, junior college, and four-year colleges)
- Is a member of a school-related associations and organizations created to serve or assist public or private schools.
- Works or is a member of a qualifying company or organization
- Organizations whose members are within CUofTX’s field-of-membership.
- Is a family member of anyone eligible to join
- Is an employee of CUofTX
Loans offered:
| Loan | Description | Term | APR | Loan Limit |
|---|---|---|---|---|
| First-Year Teacher Loan | To defray cost of moving until first paycheck (offered in August and September only) | 12 months | 0% | $2,500 |
| Alternative Teacher Certification Loan | To help with certification costs | 60 months | 1% discount | $5,000 |
| Classroom Supply Loan | To help school employees furnish classroom | 12 months | ? | $750 |
| Teacher Retirement Buy-Back Loan | Buy back existing loans | 60 months | 1% discount | $20,000 |
| Home Possible Neighborhood Solution Teacher Program | Purchase or refinance a mortgage with reduced insurance requirements | N/A | N/A | N/A |
A+ Federal Credit Union
Website: http://www.aplusfcu.org
Eligibility: membership is open to all Texas residents, age 18 or older.
Loans offered:
| Loan | Description | Term | APR | Loan Limit |
|---|---|---|---|---|
| Klassroom Kash | To fund out-of-pocket classroom expenses | ? | 0% | $500 |
| Teacher Home Buyers Program | Discounted rates on mortgages, including a 0.5% origination fee discount | N/A | 0.25% discount | N/A |
| Bridge Loan | For newly hired school district
|