Key Takeaways
- Better Mortgage leads with the Mortgage Reports overall lender score of 4.3/5, offering a high 90% CLTV and an accessible 620 credit minimum.
- Other lenders excel in specific categories, including Bank of America (low fees), Figure (fast funding), and Navy Federal (max borrowing power—military households only).
- We analyzed 8 lenders on hard data—not marketing claims. The right choice depends entirely on your credit, equity, and whether you prioritize cost or speed.
Tapping your home equity through a HELOC can be one of the most affordable ways to borrow, but the lender you choose affects everything from your interest rate to how quickly you can access funds. With dozens of banks, credit unions, and online lenders competing for your business, finding the right fit takes some comparison shopping.
Explore your HELOC options. Start hereThis guide breaks down the top HELOC lenders for 2026, compares their rates, fees, and qualification requirements, and walks you through how to choose the best option for your financial situation.
In this article. (Skip to...)
- The Mortgage Report’s Best HELOC Lenders
- Ranking Methodology
- Compare Top HELOC Lenders Side By Side
- How to Choose a HELOC Lender: Quiz
Best home equity line of credit lenders
The best HELOC lender in 2026 depends on your priorities. After comparing lenders on real terms — fees, credit score requirements, borrowing power, and funding speed — Better Mortgage stood out as our Best Overall pick, combining a strong lender score with up to 90% combined loan-to-value and an accessible 620 credit minimum.
That said, no single lender is the right fit for everyone. Figure is notable for its fast digital process and funding in as little as five days. Navy Federal Credit Union offers combined loan-to-value ratios up to 95% for eligible military members, enabling access to more equity than most lenders allow. Bank of America is among the most affordable options, offering no application fee, no annual fee, and no closing costs for many HELOCs.
Check your HELOC eligibility. Start hereThe Mortgage Reports 2026 Best HELOC Lenders
Our Best Overall pick, followed by lenders grouped by what matters most to you — low fees, fast funding, high borrowing power, and more.
- Best Overall
Better Mortgage
Best Overall4.3/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV ~90%Min Credit Score 620Draw Period 5–10 yearsWhy it's our Best Overall pick: The strongest all-around combination on this list — CLTV up to 90%, an accessible 620 credit minimum, a fully digital process, and a solid 4.3/5 Overall Lender Score. Requires an initial draw of at least $50,000 or 75% of your credit limit, whichever is greater.
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Point
Best for Largest HELOC Amounts4.7/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV ~85%Min Credit Score ~640Draw Period ~5 yearsWhy it's here: The highest Overall Lender Score on this list. Point’s HELOC (up to $750,000) is originated through Figure, so it carries the same credit score, CLTV, and draw period terms — but Point also offers a home equity investment (HEI) with a 500 minimum credit score for homeowners who don’t qualify for a HELOC.
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Truist Bank
Best for Large Bank Network4.5/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV 80–85%Min Credit Score ~660Draw Period 10 yearsWhy it's here: Flexible borrowing limits backed by a large banking network, suited to bigger renovation projects or long-term borrowing needs — a solid choice mainly if in-person branch access matters to you.
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Bank of America
Best for Low Fees4.3/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV ~85%Min Credit Score ~660Draw Period 10 yearsWhy it's here: No application fee, no annual fee, and no closing costs on many HELOCs — savings that can preserve $2,000–$5,000 versus a typical lender.
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Aven
Best for Credit-Card-Style Access4.0/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV ~80%Min Credit Score ~640Draw Period VariesWhy it's here: A hybrid, credit-card-style HELOC with fast online approval and funding in as little as a few days — a different structure than a traditional bank HELOC.
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Figure
Best for Fast Funding4.0/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV ~85%Min Credit Score ~640Draw Period ~5 yearsWhy it's here: Fully digital process with approval in minutes and funding in as little as 5 days, using automated valuations instead of a traditional appraisal. Trade-off is a shorter draw period.
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Upstart
Best for Low Credit Score Requirements4.0/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV Up to 95%Min Credit Score 600Draw Period Not publishedWhy it's here: The most accessible credit minimum on this list at 600, plus CLTV up to 95%. A technology-driven lender (not a bank), with fully digital applications and funding often in days.
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Navy Federal Credit Union
Best for High CLTV / Military3.2/5 The Mortgage Reports Overall Lender Score Read the full reviewMax CLTV Up to 95%Min Credit Score ~620Draw Period Up to 20 yrsWhy it's here: Highest CLTV and longest draw period on this list — the most borrowing room for eligible military, veteran, and DoD households, with real HELOC terms that hold up well regardless of category. Its lower Overall Lender Score reflects that it doesn’t offer FHA or USDA loans (unrelated to HELOC quality). Membership required: military, veterans, DoD employees, and family only — which is also why it isn’t eligible for our Best Overall pick, reserved for lenders open to any borrower.
Rates, CLTV limits, and credit score minimums are approximate and vary by state, borrower profile, and property. Lender and homepage links are provided for reference; see full lender reviews for details.
Our Methodology: How We Picked and Scored These Lenders
Here’s exactly how we evaluated the HELOC lenders on this page — what we looked at, how we chose our Best Overall pick, and what every other lender’s distinction means.
What we evaluated
- Overall Lender Score — The Mortgage Reports’ independent rating of the lender as a whole: affordability, lending flexibility, trustworthiness, and customer experience.
- Fees — Application fees, annual fees, and closing costs charged specifically on the HELOC.
- Borrowing power — The maximum combined loan-to-value (CLTV) ratio the lender allows.
- Credit accessibility — The minimum credit score required to qualify.
- Funding speed — How quickly a borrower can get approved and receive funds.
Best Overall
Better Mortgage
We weighed all five factors together to name one Best Overall pick. Better Mortgage won by combining a strong 4.3/5 Overall Lender Score with one of the highest CLTVs on this list (90%) and one of the most accessible credit minimums (620) — a genuinely strong lender across the board, not just a leader in one category. We only consider lenders open to any qualified borrower for this pick; credit unions with membership requirements (like Navy Federal) are excellent options too, but are evaluated separately since Best Overall should work for the widest range of readers.
How every other lender is featured
Every other lender on this page is featured for one specific, verifiable strength from the list above — the lowest fees, the fastest funding, the highest CLTV, and so on. These lenders are not ranked against each other. We don’t average their scores into a single number and order them 1 through 8, because the “best” lender genuinely depends on what matters most to you: your credit score, how much equity you need, whether you want a branch nearby, or how fast you need funds.
A lender featured lower on the page isn’t “worse” — it may simply excel at something that isn’t your top priority. Check each lender’s “Best for” tag and stats to see if its strength matches your situation.
What “Overall Lender Score” means
This score reflects our independent review of a lender’s mortgage business as a whole — it is not a HELOC-specific rating. It’s a meaningful signal of whether a lender is reliable and well-run, but it doesn’t measure HELOC terms directly, which is why we also evaluate the four HELOC-specific factors above. Click “Read the full review” on any lender to see the complete breakdown behind its score.
Rates, credit requirements, and CLTV limits shown throughout this page are approximate and vary by state, property, and borrower profile — always confirm current terms directly with the lender.
Compare top HELOC lenders side by side
Check your HELOC eligibility. Start here| Lender | Best For | Max CLTV | Typical Min Credit Score | Draw Period | Key Feature |
| Better Mortgage | Overall value | ~80–85% | ~620 | 5–10 years | Fully digital process |
| Point | Largest HELOC amounts | ~85% | ~640 | ~5 years | HELOC lines up to $750,000 |
| Truist | Large bank network | ~80–85% | ~660 | 10 years | Large banking network |
| Bank of America | Low fees | ~85% | ~660 | 10 years | No application or annual fee |
| Aven | Credit card-style access | ~80% | ~640 | Varies | Credit card-style HELOC |
| Figure | Speed | ~85% | ~640 | ~5 years | Funding in ~5 days |
| Upstart | Low credit score requirements | Up to 95% | ~600 | Most accessible credit minimum on this list | |
| Navy Federal | High CLTV | Up to 95% | ~620 | Up to 20 years | Military eligibility |
What experts are saying
Thomas Brock, financial consultant at Acclarity
“The best way to tell if you are getting a good HELOC rate is to compare the rates offered by top lenders. To facilitate your efforts, use a reputable mortgage financing resource, such as TheMortgageReports.com. Moreover, while conducting your review, be sure to compare other HELOC features, such as the lifetime rate cap, floor rate, draw and repayment terms and any annual or inactivity fees.”
How to choose the best HELOC lender
Selecting the right lender depends on your specific priorities. If speed is your priority, an online lender may be preferable. If lower costs are more important, consider banks or credit unions with low fees.
Time to make a move? Let us find the right mortgage for youFind Your Best-Match HELOC Lender
Answer a couple of quick questions and we’ll point you to a strong match from our HELOC comparison.
1Are you eligible for a military-affiliated credit union?
2What’s your approximate credit score?
3What matters most to you?
3What matters most to you?
Your Match
Navy Federal Credit Union
Best for High CLTV / MilitaryHighest CLTV (up to 95%) and longest draw period (up to 20 years) of any lender in our comparison — a strong fit for eligible military households.
Upstart
Best for Low Credit Score RequirementsThe most accessible credit minimum in our comparison at 600, with CLTV up to 95%. A technology-driven lender with a fully digital process.
Better Mortgage
Best OverallOur Best Overall pick — 90% CLTV, a 620 credit minimum, and a fully digital process. Note: requires an initial draw of at least $50,000 or 75% of your credit limit, so it fits best if you want to withdraw a large amount upfront rather than smaller amounts over time.
Figure
Best for Fast FundingApproval in minutes and funding in as little as 5 days, using automated valuations instead of a traditional appraisal.
Point
Best for Largest HELOC AmountsHELOC lines up to $750,000 — the largest available in our comparison. Originated through Figure, so it shares Figure’s credit and CLTV terms.
Aven
Best for Credit-Card-Style AccessA hybrid, credit-card-style HELOC with fast online approval and funding in as little as a few days — a different structure than a traditional bank HELOC.
Bank of America
Best for Low FeesNo application fee, no annual fee, and no closing costs on many HELOCs — savings that can preserve $2,000–$5,000 versus a typical lender.
Truist Bank
Best for Large Bank NetworkFlexible borrowing limits backed by a large banking network, suited to bigger renovation projects or long-term borrowing needs.
No exact match in our comparison
None of the lenders in our current HELOC comparison publish a minimum credit score below 600. Consider working on your credit score, or ask a lender directly about options — some home equity investments (HEIs), like Point’s, have minimums as low as 500 as an alternative to a HELOC.
Interest rates and APR structure
Most HELOCs have variable interest rates tied to the prime rate plus a lender’s margin. When the Federal Reserve changes interest rates, HELOC rates typically move within one or two billing cycles. Some lenders also offer fixed-rate HELOCs, allowing borrowers to lock portions of their balance at a fixed rate.
Draw periods and repayment terms
The draw period is when you can borrow against your line of credit. Typical HELOC draw periods range from 5 to 20 years, depending on the lender. During the draw period, many lenders allow interest-only payments.
After the draw period ends, the repayment phase begins, and borrowers must pay both principal and interest, which can significantly increase monthly payments.
Fees and closing costs
Common HELOC fees include:
- Application fee: $0 to $100
- Appraisal fee: $300 to $600
- Annual fee: $0 to $75
- Early closure fee if the line is closed within the first few years
Some lenders waive these costs, especially for borrowers with strong credit profiles.
Borrowing limits and CLTV
Combined loan-to-value ratio (CLTV) determines how much you can borrow relative to your home’s value. Most lenders cap CLTV at 80% to 85%, though some credit unions allow higher limits.
Example: If your home is worth $400,000 and you owe $250,000 on your mortgage, you have $150,000 in equity. At 80% CLTV, you could borrow around $70,000 through a HELOC.
Is a HELOC right for you in 2026?
HELOC rates remain tied to the prime rate, which moves with Federal Reserve policy. While rates remain higher than historic lows, HELOCs often still offer much lower interest rates than credit cards. If you have a clear purpose for the funds and a disciplined repayment plan, a HELOC can be a cost-effective borrowing solution.
