Best Mortgage Lender for Home Equity Lines of Credit
NerdWallet reviewed the majority of the largest U.S. mortgage lenders by annual loan volume (lenders had to have at least a 1% market share). We focused on lenders that offered the following loans: purchase, refinance, jumbo, FHA, VA and/or HELOCs. In addition, we reviewed online lenders and emerging and notable players. We also considered lenders with significant online search volume and those that specialize in serving various audiences across the country. Some of these are companies that NerdWallet partners with, some are not.
How we picked the lenders to evaluate:
We started by pooling all of our reviewed lenders that offer a home equity line of credit. The winner(s) must charge low origination fees and offer more than one HELOC product. The winner must also offer a home equity loan product, discounts to existing customers who take out HELOCs, and must offer the highest number of home equity products.
How we chose the winner:
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2018 HMDA data for origination fee and share-of-product data.