Best Home Equity Lenders Of December 2024

Top home equity lenders with competitive rates and flexible terms

✓ Wide range of loan amounts to fit your home equity needs

✓ Low interest rates and flexible repayment terms

✓ Quick and easy online application

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Our Ratings:

The rating system for the best home equity lenders consists of a combination of the following 3 components:

Interest Rates

We compare fixed interest rates offered by lenders for home equity loans against current market rates, considering both advertised rates and actual APRs, to ensure you're getting competitive offers for your second mortgage.

Loan Amount & Terms

Our assessment examines maximum loan-to-value ratios, loan amount ranges, and available repayment terms (typically 5 to 30 years) to help you find a home equity loan that matches your borrowing needs and long-term financial goals.

Lender Reputation

We evaluate each lender's track record in home equity lending, focusing on customer satisfaction ratings, transparency in fee structures, efficiency in loan processing and closing, and the quality of ongoing customer support throughout the loan term.

How We Picked These Home Equity Lenders

Interest Rates and APRs: We prioritized lenders offering the most competitive interest rates and Annual Percentage Rates (APRs) for home equity loans and lines of credit (HELOCs). Lower rates can save you thousands over the life of your loan, significantly reducing the cost of borrowing against your home's equity.
Loan-to-Value (LTV) Ratios: We evaluated lenders based on the maximum loan-to-value ratios they allow. Higher LTV ratios enable you to access more of your home's equity, giving you greater borrowing power for major expenses or investments.
Fees and Closing Costs: We prioritized lenders with transparent fee structures and competitive closing costs. Some of our top picks offer low or no closing cost options, potentially saving you thousands in upfront expenses.
Application and Approval Process: We favored lenders with efficient online applications and quick approval times. Our selected lenders offer streamlined processes, with some providing instant decisions and the ability to close on your loan in as little as two weeks.
Flexible Terms and Borrowing Options: We assessed lenders offering a wide range of loan amounts and repayment terms and the option to choose between fixed-rate home equity loans and variable-rate HELOCs. This flexibility allows you to tailor your borrowing to your financial needs and goals.