HELOC and home equity, comparedHELOC and home equity lenders compared on credit line limits, combined loan-to-value, draw and repayment periods, and fees as each lender publishes them. We do not quote personal rates.
Independent research. Every number is checked against the provider's own page and dated. Some links may earn us a commission, which never changes a ranking. How we make money
5 HELOC lenders compared; 5 of 5 in the main list were re-read in the last 14 days (newest read Oct 14, 2026). Ranking rule: Lenders are shown by how much of their own terms we could verify and how plainly they publish fees, then alphabetically. It is not a ranking of who is cheapest or best for you, because no list can know that: your rate depends on your credit, down payment, property and state. Lenders cannot pay to change their position or what we say about them. How we rate
Each pick is one fact about a lender's own published terms, with the rule written on its label. A HELOC uses your home as collateral, so compare fees and read the draw and repayment terms before you apply.
Also: A fixed-rate option
HELOC from $25,000 to $500,000 with no closing costs, a 10-year draw period and up to three fixed-rate locks
No closing costs. Initial escrow-related funding costs may apply.
1 other we list also qualify; this one ranks first in our order.
HELOC from $25,000 to $1,000,000 with no closing costs, no annual fee and a fixed-rate loan option
No closing costs: Bank of America pays them on lines up to and including $1,000,000.
Online HELOC from $15,000 to $750,000 with a fixed-rate first draw and funding in as few as 5 days
As few as 5 days for loans under $400,000, assuming remote online notarization.
A home equity line of credit (HELOC) lets you borrow against the equity you have built in your home, which is its value minus what you still owe. Five lenders are on this page as of October 14, 2026, each read from its own pages that day. They differ most on cost: Bank of America and U.S. Bank say there are no closing costs, while Figure and Chase can charge an origination fee of up to 4.99%, and Spring EQ charges a lender fee it does not put a number on. Lines run from $15,000 to $1 million. Your home is the collateral, so a HELOC is worth a calm, careful look before you apply. We do not quote rates; your own comes from the lender.
| HELOC and home equity | Credit line | Max CLTV | Fees stated | Draw period | Verified |
|---|---|---|---|---|---|
 | $35,000 to $400,000 | 80% | Up to 4.99% origination | 3 years | Oct 14, 2026 |
| $25,000 to $500,000 | See terms | No closing costs; $75 annual fee | 10 years | Oct 14, 2026 |
| $25,000 to $1 million | See terms | No closing costs; $450 early closure | 10 years | Oct 14, 2026 |
| $15,000 to $750,000 | See terms | Up to 4.99% origination | See terms | Oct 14, 2026 |
 | $50,000 to $500,000 | 90% | Lender and annual fee, no amounts | See terms | Oct 14, 2026 |
Each date is when we last checked the provider's own page. Rates and terms can change, so confirm with the provider before you apply.
In ranking order. Each one lists the numbers that decide the choice, its main strengths and its main catches.
Variable-rate HELOC from $35,000 to $400,000 with a 3-year draw period, up to 80% of your home's value
Chase HELOC is a home equity line of credit (HELOC) from JPMorgan Chase Bank, N.A. It is a bank. Product notes: HELOC (Chase says it does not offer home equity loans). Limits and terms as the lender publishes them: Credit line: $35,000 to $400,000.
Watch out
HELOC from $25,000 to $500,000 with no closing costs, a 10-year draw period and up to three fixed-rate locks
U.S. Bank HELOC is a home equity line of credit (HELOC) from U.S. Bank National Association. It is a bank. Product notes: HELOC with fixed-rate locks (it also sells a fixed-rate home equity loan).
Watch out
HELOC from $25,000 to $1,000,000 with no closing costs, no annual fee and a fixed-rate loan option
Bank of America HELOC is a home equity line of credit (HELOC) from Bank of America, N.A. It is a bank. Product notes: HELOC with a fixed-rate loan option. Limits and terms as the lender publishes them: Credit line: $25,000 to $1,000,000.
Watch out
Online HELOC from $15,000 to $750,000 with a fixed-rate first draw and funding in as few as 5 days
Figure HELOC is a home equity line of credit (HELOC) from Figure Lending LLC (doing business as Figure). It is an online lender. Product notes: HELOC (fixed-rate first draw, with a variable-rate option).
Watch out
HELOCs and a home equity loan from $50,000 to $500,000, up to 90% of your home's value, from a 640 credit score
Spring EQ is a home equity line of credit (HELOC) and home equity loan from Spring EQ, LLC. It is a non-bank lender. Product notes: Fixed-rate HELOC, variable-rate HELOC and a fixed-rate home equity loan.
Watch out
A HELOC can be a sensible tool or a risky one. Take the questions in this order, and it is fine to decide it is not for you.
A HELOC works like a credit line secured by your home. You can borrow during a draw period, then repay during a repayment period, and the rate is usually variable. A home equity loan pays out one lump sum with a fixed rate. The Consumer Financial Protection Bureau's warning is plain: if you fall behind, you could lose your home. Borrow only what you are confident you can repay.
Lenders cap how much you can borrow with a measure called combined loan-to-value (CLTV): all loans on your home added together, divided by what it is worth. Chase says you can use up to 80% of your home's value minus your mortgage balance. Spring EQ says up to 90% of your home's value, from a 640 score. Bank of America says it will lend up to 85% of the total equity in your home and wants at least 15% equity. Figure and U.S. Bank do not publish a CLTV limit on the pages we read.
Fees are where these lenders differ most. Bank of America and U.S. Bank state no closing costs, but Bank of America charges a $450 early closure fee in the first 36 months, and U.S. Bank charges a $75 annual fee after the first year (waived with a Platinum Checking Package) and 1% of the line, up to $500, if you close in the first 30 months. Figure and Chase can charge up to 4.99% of the line or draw: on a $100,000 line, that is up to $4,990, taken out of the amount you borrow. Spring EQ lists a lender fee and an annual fee on its HELOCs without amounts, so ask.
During the draw period many HELOCs let you pay interest only. At an example rate of 9% (an illustration, not a quote), $50,000 borrowed costs about $375 a month in interest alone. When repayment starts, you also pay back principal: over 20 years at the same rate that is about $450 a month. And because the rate is usually variable, if it rose two points to 11%, the interest-only payment alone would move to about $458. Chase, for example, allows interest-only payments for the first 10 years of its 30-year term, after a 3-year draw period; Bank of America and U.S. Bank each use a 10-year draw and 20-year repayment.
Some HELOCs behave more like a loan than a line. Chase requires at least 85% of the line to be disbursed at closing, and Figure draws the full line at closing, minus the fee. You then pay interest on that whole amount from day one, even if you did not need it all yet. Bank of America and U.S. Bank each describe a 10-year draw period during which you can keep borrowing against the line.
Most HELOC rates move with the Prime Rate. Bank of America lets you convert all or part of a balance to a fixed rate (at least $5,000 each, up to three at once, no conversion fee). U.S. Bank lets you lock a fixed rate on part of the balance during the draw period (up to three locks of $2,000 or more). Figure fixes the first draw. Chase is variable for the full 30 years.
Rates and fees depend on your home's value, what you owe, your credit and sometimes your state. Ask each lender for its terms on the same line amount and compare the fees as well as the rate. The APR a HELOC shows may not include closing costs and other fees, so compare those separately.
Products that do one thing unusually well, with the catch we would want to know before applying.
Bank of America pays the closing costs on lines up to $1,000,000 and charges no annual fee, with a fixed-rate loan option. Watch the $450 early closure fee within 36 months, a variable APR that can reach 24% and discounts that need autopay or a large draw.
Read the reviewNo closing costs, a 10-year draw period and the option to lock fixed rates on parts of the balance. It charges a $75 annual fee after the first year unless you have a Platinum Checking Package, and an early closure fee in the first 30 months.
Read the reviewFixed-rate and variable-rate HELOCs plus a home equity loan, from $50,000 to $500,000. A lender fee applies and the amounts are not published, and it is not available for properties in New York.
Read the reviewLines from $15,000 to $750,000, no prepayment penalty and funding in as few as 5 days under $400,000. The origination fee can be up to 4.99% and the full line is drawn at closing.
Read the reviewLenders are shown by how much of their own terms we could verify and how plainly they publish fees, then alphabetically. It is not a ranking of who is cheapest or best for you, because no list can know that: your rate depends on your credit, down payment, property and state. Lenders cannot pay to change their position or what we say about them.
Providers cannot pay to change this order. If a paid placement ever appears in a list, it is labeled Sponsored and never carries a “best for” label.
Origination fees, closing costs, annual fees and early closure fees, as the lender states them. Where a fee is not published we say so.
Credit line limits and combined loan-to-value (all loans on your home, divided by its value).
Draw and repayment periods, whether the rate is variable, and any floor, cap or fixed-rate option.
Written risk flags, and any CFPB enforcement action we can see on the CFPB's own site.
Date of the newest lender-page stamp
Both borrow against the equity in your home. A HELOC is a revolving line: you borrow as you need, up to a limit, during a draw period, then repay, and the rate is usually variable. A home equity loan pays one lump sum with a fixed rate and fixed payments. Spring EQ offers both. Either way, your home is the collateral.
Usually variable, which means the rate and your payment can change. Some lenders let you convert part of the balance to a fixed rate: Bank of America and U.S. Bank do, and Figure's first draw is fixed. Chase's HELOC is variable for the full 30-year term. Ask what the rate cap is: Chase says 18%, U.S. Bank 18% and Bank of America 24%.
It depends on the lender. Among these five, two (Bank of America and U.S. Bank) say there are no closing costs, two (Figure and Chase) can charge an origination fee of up to 4.99%, and Spring EQ charges a lender fee without publishing the amount. Look at annual fees and early closure fees too. Compare fees as well as the rate, because the APR a HELOC shows may not include them.
Among the lenders that publish one: Spring EQ states 640, Bank of America and U.S. Bank 660, and Chase 680. Figure does not publish a minimum on the page we read. A minimum is not a guarantee: lenders also look at your home's value, what you owe and your debts.
No. Where a lender publishes a sample rate, we show it with the lender's own assumptions and its date. Those assume strong credit and low loan-to-value, and HELOC rates are variable, so they change. Only an official offer from a lender is your rate.
Best HELOC Lenders was last updated in October 2026 and uses rates and fees we verified against each provider's own page. Spot something out of date? Tell us.
