Achieve HELOC Review 2025
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Our Take
4.0
Achieve focuses on serving borrowers with low or bad credit, accepting scores as low as 600. It’s a good fit if you want to access your equity fast with a fixed-rate option to repay. Limits are on the low side, though: $150,000 for debt consolidation or $300,000 for home improvements. There is no annual fee.
Pros
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Experienced in helping low-credit borrowers.
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Offers fixed-rate option for predictable payments.
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Can access funds as soon as 10 days after applying.
Cons
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Borrowing limits are lower than most lenders.
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Full initial draw required, with short redraw period of five years.
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HELOCs not available for second homes.
Compare to Other Lenders
Full Review
💲Achieve HELOC Rates
HELOC rates are determined by two things. The first is the prime rate, which is what banks pay to borrow from one another. The second part is a margin, which the lender calculates based on your financial qualifications (including your credit score, existing debts and income). The prime rate plus your margin equals your HELOC rate offer.
Current prime rate | Prime rate last week | Prime rate in the past year — low | Prime rate in the past year — high |
|---|---|---|---|
6.75% | 6.75% | 6.75% | 7.5% |
Borrowers can see sample HELOC rates on the Achieve website.
👍 Reasons to get an Achieve HELOC
Achieve provides options for borrowers with low or bad credit, particularly those looking for options to consolidate debt. Its minimum required credit score for HELOCs is 600. The lender promises fast closings, allowing you to access equity in as little as 10 days after you apply.
HELOCs generally have a lower interest rate than credit cards and personal loans, so if you use one to consolidate debt, you could save money and pay off your debt faster.
Achieve offers a fixed-rate repayment option to keep payments predictable. That can be a plus if you’re consolidating debt from credit cards, which usually have higher, variable rates. Borrowers have plenty of options for repayment terms: 10, 15, 20 or 30 years. There’s no annual fee.
Rate discounts of 0.50% are available for borrowers who use autopay and borrowers who have paid off their first mortgage.
» MORE: Best HELOC lenders
🤔 Reasons why Achieve’s HELOC gives us pause
With its debt consolidation focus in mind, it makes sense that Achieve’s HELOC limits are on the low side. While other lenders let you borrow $1 million or more, Achieve limits HELOCs to $150,000 for debt consolidation or $300,000 for home improvements or other expenses. A full draw is required at the start, although you can redraw within the first five years.
Achieve HELOCs aren’t available on second homes. Fees vary by state, but expect to pay an origination and underwriting fee.
Nerdy Tip
Using a HELOC for debt consolidation can be risky, so NerdWallet recommends exploring other alternatives first. Unlike a credit card, a HELOC uses your house as collateral — so you risk foreclosure if you can’t keep up with payments.
📎 Ways to apply for an Achieve HELOC
How to Apply | Availability |
Online 🧑💻 | ✅ |
Over the phone 📞 | ✅ |
Mobile app 📶 | 🚫 |
In person 🏦 | 🚫 |
You can contact Achieve customer service by phone or email.
🛒 Alternatives to an Achieve HELOC
Wondering if another lender or product might be a better fit? It’s worth it to shop around to learn more about your options.
If you’re looking for a HELOC lender that accepts less-than-perfect credit, Truist and Andrews Federal Credit Union both tell us they accept scores at or below 600. That doesn’t mean approval is guaranteed, though. Factors like your debt-to-income ratio also affect your ability to qualify for a HELOC, and lenders charge higher interest rates to borrowers with weaker credit.
If you want more flexibility when you open a HELOC, Fourleaf Federal Credit Union doesn’t require an initial draw, although you do need to take money out if you want to secure its promotional interest rate discount. It also offers a longer draw period of 10 years.
A HELOC isn’t your only option
You can also explore products outside of HELOCs. Alternatives to home equity lines of credit include a home equity loan, which offers a lump sum with a fixed rate, or a cash-out refinance, which replaces your existing mortgage with a larger loan.
Borrow from your home’s equity
NerdWallet’s HELOC star ratings are independently researched and developed by the editorial team based on the following factors: HELOC lending volume, maximum combined loan-to-value ratio, whether a fixed-rate option is available, initial draw requirements, flexibility of draw and repayment terms, average time to close, interest rate transparency, length of any introductory term below the prime rate, lender fees, availability for second homes, application availability and customer support options. Lenders can receive bonus points for offering options for HELOC rate discounts. A recent regulatory action against a lender may affect its HELOC star rating.
