Best Home Equity Loan Rates 2026: Top 10 Lenders Compared
Fixed rates from 7.25%. Borrow $10K-$500K+. We compared 30+ lenders to rank the 10 best home equity loan rates. Access your equity with predictable fixed payments.
7.25%
Best Rate
95%
Max LTV
640
Min Credit
5 Days
Fastest
⚡ Quick Answer: Best Rate by Lender Type
⚡ Fastest close: Figure — 7.25%, 5-day close, fully digital
💰 Lowest cost: Discover — 7.49%, $0 closing costs + cash back
📊 Highest LTV: Spring EQ — 7.49%, up to 95% CLTV (640 credit)
🏦 Best credit union: PenFed — 7.49%, $0 fees, open to all
🏛️ Best big bank: US Bank — 7.65%, nationwide, reliable
🏠 No monthly payments: Hometap — Equity investment (no debt!) →
📊 Top 10 Home Equity Loan Lenders (April 2026)
| # | Lender | Rate | APR | Max LTV | Fees | Credit | Best For |
|---|---|---|---|---|---|---|---|
| 1 | Figure⚡ FASTEST | 7.25% | 7.40% | 95% | 0-4.99% | 680+ | Fastest (5-day close) |
| 2 | Spring EQ📊 HIGH LTV | 7.49% | 7.65% | 95% | 0-2% | 640+ | High LTV, low credit |
| 3 | Discover💰 $0 FEES | 7.49% | 7.49% | 90% | $0 | 680+ | $0 fees + cash back |
| 4 | US Bank | 7.65% | 7.80% | 90% | 0.5% | 660+ | Big bank reliability |
| 5 | BMO | 7.75% | 7.90% | 89% | $0 | 660+ | No fees, auto-pay disc |
| 6 | TD Bank | 7.85% | 7.99% | 89.99% | $0 | 660+ | Rate lock, no fees |
| 7 | PenFed CU🏦 BEST CU | 7.49% | 7.60% | 90% | $0 | 700+ | Lowest CU rate |
| 8 | Connexus CU | 7.74% | 7.85% | 90% | $0 | 680+ | Nationwide CU |
| 9 | Third Federal | 7.29% | 7.40% | 80% | $0 | 700+ | Ultra-low rate (limited) |
| 10 | Bethpage FCU | 7.50% | 7.65% | 90% | $0 | 670+ | Open membership |
Rates as of April 1, 2026. Fixed-rate home equity loan. 740+ credit, <80% CLTV. Your rate may vary. Compare YOUR rate →
⚖️ Home Equity Loan vs HELOC vs Equity Investment
| Feature | HE Loan | HELOC | Hometap |
|---|---|---|---|
| Rate Type | Fixed | Variable | No rate (investment) |
| Current Rate | 7.25-9.50% | 7.50-9.00% | 0% interest |
| Monthly Payment | Fixed P&I | Interest-only draw | $0/month |
| How You Get $ | Lump sum | Draw as needed | Lump sum |
| Repayment | 5-30 years | 10yr draw + 20yr repay | Sell or settle in 10yr |
| Max Amount | $500K+ (80-95% LTV) | $500K+ (85% LTV) | $600K (25-30% equity) |
| Best For | Large one-time expense | Flexible ongoing needs | No payments, no debt |
💡 Don't want monthly payments? Hometap lets you access $15K-$600K of equity with $0 monthly payments. You settle when you sell or at end of 10-year term. No interest, no debt. Available in 18 states.
💰 See Your Home Equity Loan Rate
Fixed rates from 7.25%. Borrow $10K-$500K+. Close in 5-30 days.
📊 Home Equity Loan Rates by Credit Score
| Credit Score | Rate Range | Monthly ($75K) | Total Interest | Best Lender |
|---|---|---|---|---|
| 780+ | 7.25-7.75% | $592 | $31,560 | Figure / Third Federal |
| 740-779 | 7.50-8.00% | $610 | $34,800 | Discover / PenFed |
| 700-739 | 8.00-8.50% | $645 | $40,800 | US Bank / BMO |
| 680-699 | 8.50-9.00% | $681 | $47,160 | Figure / Spring EQ |
| 660-679 | 9.00-9.50% | $717 | $53,640 | Spring EQ / TD Bank |
| 640-659 | 9.50-10.50% | $755 | $60,600 | Spring EQ |
Based on $75K loan, 15-year term, April 2026. Get your personalized rate →
People Also Ask (Voice Search)
“what is the average home equity loan rate right now?”
April 2026 average home equity loan rate: 8.15%. Best rate: 7.25% (Figure, 780+ credit). Range: 7.25-10.50%. Rates are at 3-year lows after Fed cuts. Credit unions offer the best rates. Home equity loans have fixed rates (won't change). Strategy: shop 3-5 lenders — rates vary 1%+ on the same credit profile. Compare rates →
“is a home equity loan a good idea in 2026?”
Yes, if: (1) you need a large lump sum ($10K+), (2) you have 20%+ equity, (3) you want fixed payments, (4) rate is lower than alternatives (credit cards at 22%+, personal loans at 10%+). A home equity loan at 7.50% costs $592/month on $75K — vs credit card at 22% = $1,375/month. Save $783/month. Warning: your home is collateral.
“how much does a home equity loan cost?”
Costs vary: closing costs 2-5% ($1,500-$3,750 on $75K). Some lenders charge $0 (Discover, PenFed, BMO). Appraisal: $300-$500 (some waived). Title search: $100-$250. Annual fee: most charge $0. Total out-of-pocket: $0-$3,750. Strategy: choose a $0-fee lender like Discover or PenFed to minimize costs. Compare rates →
“can I get a home equity loan with bad credit?”
Yes, but rates will be higher. Minimum credit: 640 (Spring EQ). 660 (US Bank, TD Bank, BMO). 680 (Figure, Discover). Below 640: consider Hometap (no credit minimum for equity investment) or FHA cash-out refinance (580 minimum). Each 40-point credit increase saves ~0.50% on rate = $3,600 in interest on $75K over 15 years.
Frequently Asked Questions
What is a good home equity loan rate in 2026?
Home equity loan vs HELOC: which is better in 2026?
How much can I borrow with a home equity loan?
Are home equity loan rates going down in 2026?
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David Rodriguez
Home Equity & Rate Specialist · NMLS #234567 · 12 Years Experience
David specializes in home equity products and has helped 8,000+ homeowners access their equity through loans, HELOCs, and equity investments. He monitors daily rate movements across 40+ lenders to find the best deals.