Article
10 Best Home Equity Loans & HELOC Lenders in 2025
Unlock your home's equity with the best HELOC and home equity loans of 2025. Compare rates, terms, and fees from top lenders for home improvement, debt consolidation, and more.
Home equity loans and HELOCs let you borrow against your home’s value for major expenses like renovations, debt consolidation, or education. With home values at historic highs, many homeowners have significant equity to access.
Our team analyzed over 40 home equity lenders, comparing rates, fees, and customer experiences. Here are the 10 best home equity loan and HELOC providers for 2025.
Quick Comparison
| Lender | Best For | APR Range | Rating |
|---|---|---|---|
| 1. Figure | Best Overall HELOC | 7.10%-15.50% | ★4.9/5 |
| 2. Spring EQ | Best for High LTV | 8.49%-14.99% | ★4.8/5 |
| 3. Bethpage Federal Credit Union | Best Rates | 7.00%-12.00% | ★4.8/5 |
| 4. Bank of America | Best for Existing Customers | 8.34%-13.99% | ★4.7/5 |
| 5. U.S. Bank | Best for Flexibility | 8.20%-13.95% | ★4.7/5 |
| 6. Third Federal | Best Fixed-Rate HELOC | 7.49%-8.99% | ★4.6/5 |
| 7. Connexus Credit Union | Best Credit Union Option | 7.50%-12.50% | ★4.5/5 |
| 8. Navy Federal Credit Union | Best for Military | 8.50%-18.00% | ★4.5/5 |
| 9. PenFed Credit Union | Best for Large Loans | 8.00%-18.00% | ★4.4/5 |
| 10. TD Bank | Best for East Coast | 8.74%-15.99% | ★4.4/5 |
Our Top Picks in Detail
Figure
Figure revolutionizes HELOCs with a fully digital process and funding in as few as 5 days. Their 95% LTV option lets you access more of your home's equity.
Pros
- ✓100% online process
- ✓Funding in as fast as 5 days
- ✓No hidden fees
- ✓Rate discount for autopay
- ✓High LTV up to 95%
Cons
- ✗Fixed-rate draw (not traditional HELOC)
- ✗Origination fee applies
- ✗Limited customer service hours
Spring EQ
Spring EQ offers fee-free home equity loans with up to 95% combined LTV, allowing homeowners to access maximum equity without lender charges.
Pros
- ✓No lender fees
- ✓95% combined LTV
- ✓Competitive rates
- ✓Flexible underwriting
- ✓Cash-out available
Cons
- ✗Longer closing time
- ✗Limited state availability
- ✗Higher minimum loan
Bethpage Federal Credit Union
Bethpage consistently offers some of the lowest HELOC rates in the market with no closing costs or annual fees. Membership is easy to obtain.
Pros
- ✓Lowest rates available
- ✓No closing costs
- ✓No annual fees
- ✓Credit union member rates
- ✓Interest-only option
Cons
- ✗Membership required
- ✗Geographic limitations
- ✗Slower processing
Bank of America
Bank of America offers significant rate discounts for Preferred Rewards members, making them excellent for customers with substantial BofA relationships.
Pros
- ✓Rate discounts for Preferred Rewards
- ✓High loan amounts to $1M
- ✓No closing costs
- ✓Established reputation
- ✓Multiple product options
Cons
- ✗Best rates need relationship
- ✗Longer closing timeline
- ✗Lower LTV limits
U.S. Bank
U.S. Bank offers flexibility with the option to convert portions of your HELOC balance to fixed-rate loans, protecting against rate increases.
Pros
- ✓No closing costs
- ✓Flexible draw options
- ✓Convert to fixed rate option
- ✓Large loan amounts
- ✓Strong customer service
Cons
- ✗Lower LTV maximum
- ✗Variable rates only for HELOC
- ✗Some state restrictions
Third Federal
Third Federal's fixed-rate HELOC option provides rate certainty that traditional variable-rate HELOCs can't match, with zero fees.
Pros
- ✓Fixed-rate HELOC option
- ✓No fees whatsoever
- ✓Competitive fixed rates
- ✓Simple pricing
- ✓No annual fees
Cons
- ✗Lower loan maximum
- ✗Limited to certain states
- ✗Conservative LTV
Connexus Credit Union
Connexus offers accessible credit union rates with nationwide membership eligibility and low minimum loan amounts for smaller equity needs.
Pros
- ✓Low credit union rates
- ✓Easy membership
- ✓Low minimum ($5,000)
- ✓Personalized service
- ✓Nationwide membership
Cons
- ✗Lower loan maximums
- ✗Some fees apply
- ✗Less technology-focused
Navy Federal Credit Union
Navy Federal offers up to 100% LTV for qualified military members—the highest available. Their no-closing-cost structure adds extra value.
Pros
- ✓100% LTV available
- ✓No closing costs
- ✓Military-focused service
- ✓Competitive member rates
- ✓Multiple product options
Cons
- ✗Military affiliation required
- ✗Rate range is wide
- ✗Processing can be slow
PenFed Credit Union
PenFed accommodates larger equity needs up to $500,000 with open membership and flexible rate options including fixed-rate conversions.
Pros
- ✓High loan amounts
- ✓Flexible membership
- ✓Fixed-rate option
- ✓Strong rate discounts
- ✓10-year draw period
Cons
- ✗Higher minimum
- ✗Some closing costs
- ✗Wide rate range
TD Bank
TD Bank serves the East Coast market with no-closing-cost HELOCs and rate lock options. Strong for customers who value in-person banking.
Pros
- ✓No closing costs
- ✓Rate lock option
- ✓Strong branch network
- ✓Relationship discounts
- ✓Interest-only option
Cons
- ✗East Coast focus
- ✗Rates can be higher
- ✗Limited western availability
How We Evaluate Home Equity Lenders
Our evaluation methodology includes:
Rates and Fees
- APR competitiveness
- Closing cost structure
- Annual fees and charges
- Prepayment penalties
Loan Features
- LTV maximums
- Draw periods and terms
- Fixed vs. variable options
- Repayment flexibility
Customer Experience
- Application process ease
- Closing timeline
- Customer service quality
- Online account management
Frequently Asked Questions
What’s the difference between a HELOC and home equity loan?
A HELOC is a revolving line of credit with variable rates—you draw as needed. A home equity loan is a lump sum with fixed payments. HELOCs offer flexibility; home equity loans offer predictability.
How much equity can I borrow?
Most lenders allow 80-85% combined loan-to-value (CLTV). Some go up to 90-95%. If your home is worth $400,000 and you owe $200,000, you might access $120,000-$180,000 depending on the lender.
Are home equity loan interest rates tax-deductible?
Interest may be deductible if funds are used to “buy, build, or substantially improve” your home. Consult a tax professional for your specific situation.
How long does it take to get a home equity loan?
Traditional lenders take 3-6 weeks. Digital lenders like Figure can close in 5-10 days. Credit unions typically fall in the 2-4 week range.
What credit score do I need?
Most lenders require 620-680 minimum. Better scores (720+) qualify for the lowest rates. Some credit unions are more flexible with score requirements.
Can I get a HELOC with bad credit?
It’s more difficult but possible. Some lenders offer HELOCs with scores as low as 620. Expect higher rates and lower LTV limits with lower credit scores.