Better Home Equity Loan Review 2026
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Our Take
5.0
Better’s home equity loan stands above competitors thanks to its high borrowing limit (up to 90% of your home’s value, minus what you owe on your mortgage) and a comparably low combo of rates and fees, as well as flexible repayment terms. Closing may be available in as little as three weeks, though you’ll have to wait an additional week for funding.
Pros
-
High borrowing limit of 90% combined loan-to-value.
-
Low combined rates and fees compared to other lenders evaluated by NerdWallet.
-
Repayment terms ranging from 10 to 30 years.
Cons
-
Borrowers must pay closing costs.
-
To see fully customized interest rates, you’ll have to apply for preapproval.
Full Review
💲Better home equity loan rates
Home equity loan rates tend to move with the federal funds rate, which is set by the Federal Reserve. In addition to market factors, your home equity loan rate offers will be determined by your financial profile, including your credit score and income.
You can find sample home equity loan rates on Better’s website, which are customizable by ZIP code. You’ll have to apply for preapproval in order to get a fully customized rate.
👍 Reasons to get a Better home equity loan
The biggest draw of a home equity loan from Better is its high borrowing limit. Customers can borrow up to 90% of the value of their home, minus any balance left on their primary mortgage. Compared to many other lenders surveyed and scored by NerdWallet, Better has relatively low home equity loan interest rates and fees.
Better offers a wide range of repayment terms, ranging from 10 to 30 years. According to the lender, the application should take minutes to complete, with closing available in as little as three weeks (with at least an additional week to fund the account).
Home equity loans are also available for second homes.
» MORE: Best home equity loan lenders
🤔 Reasons why Better’s home equity loan gives us pause
Home equity loan borrowers will have to pay closing costs. While common, these are not charged by every lender.
📎 Ways to apply for a Better home equity loan
How to Apply | Availability |
Online 🧑💻 | ✅ |
Over the phone 📞 | ✅ |
Mobile app 📶 | 🚫 |
In person 🏦 | 🚫 |
You can contact Better customer service over the phone, or use the AI chat feature on the lender’s site.
🛒 Alternatives to a Better home equity loan
Wondering if another lender or product might be a better fit? It’s worth it to shop around to learn more about your options.
Borrowers who want to borrow a large amount of their equity might be interested in a home equity loan from Rocket Mortgage or Newrez. If you want to avoid paying closing costs, Flagstar Bank could be a solid option.
A home equity loan isn’t your only option
You can also explore products outside of home equity loans. Alternatives to home equity loans include a HELOC, which you can draw from as needed, or a cash-out refinance, which replaces your existing mortgage with a larger loan.
Borrow from your home’s equity
NerdWallet rates home equity loan lenders based on what matters most to borrowers: home equity loan rates and fees, how much of a lender’s business is dedicated to home equity loans, home equity loan market share, product accessibility, loan terms, borrowing limits, closing costs, customer experience and rate transparency.
We review more than 40 lenders and score home equity loan lenders using a weighted system that prioritizes affordability, flexibility and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, higher combined loan-to-value (CLTV) limits, manageable closing costs, flexible repayment terms, faster closing times and clear, accessible rate information, along with strong customer support throughout the process.
We use a mix of lender-provided information, publicly available data and our own analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.
