Best HELOC Lenders 2026: Compare Rates, Fees & Draw Periods
HELOC rates range from 7.00% to 9.25% in March 2026 — that's a $150+/month difference on a $100K line. Here are the top lenders ranked by rates, fees, speed, and flexibility so you pick the cheapest option.
Avg HELOC Rate
7.50-8.50%
Best Rate
7.00%
Intro Offers
5.99-6.99%
Max CLTV
80-95%
Top HELOC Lenders at a Glance (March 2026)
| Lender | Rate (APR) | Intro Rate | Min Credit | Max CLTV | Closing Costs |
|---|---|---|---|---|---|
| Figure | 7.10-13.75% | 6.10% (6mo) | 680+ | 85% | $0-$500 |
| Bethpage FCU | 7.25-8.50% | 6.99% (12mo) | 680+ | 80% | $0 |
| Bank of America | 7.40-9.25% | None | 700+ | 85% | $0 |
| Navy Federal | 7.00-8.75% | 0% (6mo)* | 680+ | 100% | $0 |
| Spring EQ | 7.50-10.50% | None | 640+ | 95% | $500-$2K |
| TD Bank | 7.99-9.00% | None | 700+ | 80% | $0-$500 |
| U.S. Bank | 8.00-9.25% | 5.99% (6mo) | 730+ | 80% | $0 |
*Navy Federal: military/DoD only. Rates as of March 2026, subject to change. Get personalized HELOC quotes.
Detailed Lender Reviews
Figure — Best for Speed (5-Day Funding)
Editor's PickPros
- ✅ Funds in as fast as 5 business days
- ✅ 100% online — no branch visit needed
- ✅ 6.10% intro rate for 6 months
- ✅ Blockchain-secured for fast processing
Cons
- ❌ Origination fee up to 4.99%
- ❌ Fixed-rate draws (not true revolving)
- ❌ Higher ongoing rates than credit unions
Best for: Borrowers who need fast funding and prefer a fully digital experience.
Bethpage FCU — Best Intro Rate (6.99% for 12 Months)
Pros
- ✅ 6.99% intro rate for full 12 months
- ✅ Zero closing costs
- ✅ Open to anyone (easy credit union membership)
Cons
- ❌ Must join credit union ($5 membership)
- ❌ 80% max CLTV (lower than some competitors)
- ❌ Limited branch network
Best for: Borrowers who want the longest intro rate and zero upfront costs.
Navy Federal — Best for Military (100% CLTV)
Pros
- ✅ Up to 100% CLTV (borrow entire equity)
- ✅ Lowest rates for military members
- ✅ No closing costs, no annual fee
- ✅ 0% intro rate for 6 months
Cons
- ❌ Military/DoD/family members only
- ❌ Slower processing (2-4 weeks)
Best for: Veterans and active military who want maximum equity access.
Spring EQ — Best for High LTV (95% CLTV)
Pros
- ✅ Up to 95% CLTV — industry-leading
- ✅ Accepts 640+ credit score
- ✅ Fixed-rate and variable options
Cons
- ❌ Higher rates than credit unions
- ❌ Closing costs $500-$2K
- ❌ Not available in all states
Best for: Borrowers with limited equity who need maximum borrowing power.
Alternative: Hometap — Access Equity With $0 Monthly Payments
Don't want monthly HELOC payments? Hometap gives you up to $600K from your equity with zero monthly payments for 10 years. No interest rate, no DTI impact. You settle when you sell or refinance.
$0/month
Monthly payment
585+
Min credit score
10 years
Settlement period
Compare HELOC Rates From Multiple Lenders
Rates vary by 1-2% between lenders for the same borrower. Get personalized quotes in minutes.
Get My HELOC Quotes Free →How to Choose the Best HELOC Lender
1. Compare APR, not just rate
APR includes fees. A 7.25% rate with $2K in fees may cost more than 7.50% with $0 fees on shorter draws.
2. Check draw period vs repayment
Most HELOCs have 5-10 year draw period (interest-only) then 10-20 year repayment (P+I). Your payment jumps significantly at repayment — make sure you can afford it.
3. Ask about rate caps
Variable rates can rise. Look for HELOCs with lifetime rate caps (typically 18%). Per-adjustment caps of 1-2% per year are ideal.
4. Consider credit unions first
Credit unions often beat big banks by 0.50-1.00% on HELOC rates and charge fewer fees. Navy Federal, Bethpage, PenFed are top picks.
5. Get 3-5 quotes minimum
HELOC rates vary dramatically between lenders. Always compare at least 3 quotes.
Frequently Asked Questions
What is a good HELOC rate in 2026?
7.00-7.75% for 740+ credit. Average is 7.50-8.50%. Some lenders offer 5.99-6.99% intro rates for 6-12 months.
Which bank has the best HELOC rates?
Credit unions (Navy Federal, Bethpage) and online lenders (Figure) typically beat big banks. Always compare 3-5 quotes.
How much can I borrow with a HELOC?
Formula: (Home Value × 0.80) - Mortgage Balance. $500K home, $300K mortgage = $100K HELOC. Some lenders go to 95% CLTV.
What credit score do I need?
680+ for most lenders. Best rates at 740+. Some accept 640+ with higher rates.
Is a HELOC better than a home equity loan?
HELOC: flexible, variable rate, pay only what you use. Home equity loan: fixed rate, lump sum, predictable payments.
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Emily Chen
Construction & Home Equity Specialist · NMLS #345678
Emily has reviewed 100+ HELOC and home equity products to help homeowners find the cheapest way to access their equity. She specializes in comparing lender fees, rates, and terms.