Home Equity Line of Credit Rates 2026: Best HELOC Lenders
Intro rates from 6.99%. Draw as you need. We ranked the 10 best HELOC lenders by intro rate, ongoing rate, max LTV, fees, and draw period. Access your home equity flexibly.
6.99%
Best Intro
7.75%
Average
95%
Max LTV
5 Days
Fastest
⚡ Quick Answer: Best HELOC by Scenario
💰 Lowest intro rate: Bethpage FCU — 6.99% intro, 7.49% ongoing, $0 fees
⚡ Fastest funding: Figure — 7.25%, fund in 5 days, fully digital
📊 Highest LTV: Figure / Spring EQ — up to 95% CLTV
🏦 Best credit union: PenFed — 7.49%, open to all, $0 fees
🏛️ Best big bank: US Bank — 7.65%, relationship discounts
🏠 No monthly payments: Hometap — equity investment, $0/month →
📊 Top 10 HELOC Lenders April 2026
| # | Lender | Intro Rate | Ongoing | Max LTV | Fees | Draw | Best For |
|---|---|---|---|---|---|---|---|
| 1 | Bethpage FCU💰 LOWEST | 6.99% | 7.49% | 90% | $0 | 10yr | Lowest intro rate |
| 2 | Figure⚡ FASTEST | 7.25% | 7.25% | 95% | 0-4.99% | 5yr | Fastest (5-day fund) |
| 3 | Spring EQ📊 95% LTV | 7.49% | 7.49% | 95% | 0-2% | 10yr | High LTV (95%) |
| 4 | PenFed CU | 7.49% | 7.49% | 90% | $0 | 10yr | $0 fees, open CU |
| 5 | US Bank | 7.65% | 7.65% | 90% | $0 | 10yr | Big bank, rate disc |
| 6 | BMO | 7.75% | 7.75% | 89% | $0 | 10yr | Auto-pay discount |
| 7 | TD Bank | 7.49% | 8.24% | 89.99% | $0 | 10yr | Low intro, rate lock |
| 8 | Discover | 7.74% | 7.74% | 90% | $0 | 10yr | $0 closing + cash back |
| 9 | Connexus CU | 7.49% | 7.49% | 90% | $0 | 10yr | Nationwide CU |
| 10 | Third Federal | 7.24% | 7.24% | 80% | $0 | 10yr | Ultra-low (limited area) |
Rates as of April 1, 2026. Variable rate. 740+ credit, <80% CLTV. Your rate may vary. Compare YOUR HELOC rate →
📋 How a HELOC Works: 2 Phases
Phase 1: Draw Period (5-10 years)
- • Borrow as needed up to your limit
- • Interest-only payments (optional full P&I)
- • Reuse credit as you repay
- • Example: $100K HELOC at 7.50% = $625/mo interest-only
- • Flexibility: only pay interest on what you draw
Phase 2: Repayment (10-20 years)
- • No more draws — repay balance
- • Full P&I payments (higher than draw period)
- • Payment shock: plan for 2-3x higher payments
- • Example: $100K at 7.50% = $1,161/mo (15yr repay)
- • Strategy: pay extra during draw to reduce shock
📊 See Your HELOC Rate in 2 Minutes
Intro rates from 6.99%. Draw as needed. Interest-only payments. $0 fees available.
📊 HELOC Rates by Credit Score (April 2026)
| Credit Score | HELOC Rate | Monthly ($75K IO) | Best Lender |
|---|---|---|---|
| 780+ | 6.99-7.50% | $437-$469 | Bethpage FCU |
| 740-779 | 7.25-7.75% | $453-$484 | PenFed / Figure |
| 700-739 | 7.75-8.50% | $484-$531 | US Bank / BMO |
| 680-699 | 8.50-9.25% | $531-$578 | Spring EQ / Figure |
| 660-679 | 9.25-9.99% | $578-$624 | Spring EQ |
| 640-659 | 9.99-10.50% | $624-$656 | Spring EQ |
Interest-only payment during draw period. Get your personalized HELOC rate →
People Also Ask (Voice Search)
“what is the interest rate on a home equity line of credit?”
April 2026 HELOC rates: average 7.75% (variable). Best: 6.99% intro (Bethpage FCU). Range: 6.99-10.50%. HELOC rates = prime rate (7.50%) + margin (0-3%). Your margin depends on credit score and LTV. Variable rate adjusts monthly. Some lenders offer fixed-rate conversion (8.25-9.00%). Compare HELOC lenders →
“is a HELOC a good idea right now?”
YES in April 2026, for 3 reasons: (1) Rates are at 3-year lows (7.75% avg). (2) Fed may cut more in 2026 — variable HELOC rate drops automatically. (3) Interest-only payments during draw are low ($469/mo on $75K). Good for: renovations, debt consolidation, emergency fund. Warning: your home is collateral. Don't overborrow.
“HELOC vs home equity loan which is cheaper?”
Depends on usage: HELOC is cheaper if you don't use the full amount (pay interest only on draws). HE loan is cheaper for a specific large expense (fixed rate, no rate risk). Example: $75K needed. HELOC at 7.50% (draw $50K first): $313/mo. HE loan at 7.50% (full $75K): $695/mo. But if rates rise, HELOC could cost more long-term. Compare HELOC lenders →
“how do HELOC payments work?”
Two phases: Draw period (5-10 years): interest-only payments on what you borrow. $75K HELOC at 7.50%, draw $50K = $313/month. Repayment period (10-20 years): full principal + interest. Same $50K = $581/month (15-year repay). Payment shock: plan for 80-100% increase when repayment starts. Strategy: make P&I payments during draw to avoid shock.
Frequently Asked Questions
What is the average HELOC rate in 2026?
HELOC vs home equity loan: which has better rates?
How much can I borrow with a HELOC?
Will HELOC rates go down in 2026?
Related Guides
📊 Access Your Home Equity — Flexibly
HELOC rates from 6.99% · Draw as needed · Interest-only payments
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David Rodriguez
Home Equity & Rate Specialist · NMLS #234567 · 12 Years Experience
David specializes in home equity products including HELOCs, home equity loans, and equity investments. He has helped 8,000+ homeowners access their equity and monitors daily HELOC rate movements across 40+ lenders.