In this article, I will discuss the Best Home Equity Loan Lenders to help you find the right option for your financial needs.
Whether you’re looking for competitive rates, flexible terms, or a simple application process, understanding the top lenders can make a big difference. Stay tuned as we explore some of the best choices available today.
Key Points & Best Home Equity Loan Lenders List
| Institution | Key Point |
|---|---|
| Navy Federal Credit Union | Offers competitive mortgage rates and exclusive benefits for military members. |
| Discover | Known for home equity loans with no application or origination fees. |
| Rocket Mortgage | Fast online mortgage application and approval process; part of Quicken Loans. |
| TD Bank | Provides flexible loan options, especially for first-time homebuyers. |
| U.S. Bank | Offers a wide range of mortgage products with strong in-branch support. |
| Spring EQ | Specializes in home equity loans and lines of credit with fast funding. |
| Flagstar Bank | Known for a broad mortgage selection and support for self-employed borrowers. |
| AmeriSave Mortgage | Offers competitive rates and a fully online mortgage application experience. |
| Barclays | Provides mortgages mainly in the UK; known for innovative loan structures. |
| Better Mortgage | Online-only lender with zero commission and low fees. |
10 Best Home Equity Loan Lenders For 2025
1.Navy Federal Credit Union
One of the top home equity loan lenders, especially for active servicemen, veterans and their families, is Navy Federal Credit Union.
It has low interest rates as well as flexible loan terms and a simple application process. It has no fees and provides caring customer service that focuses on helping customers with both lump-sum loans and lines of credit.
It helps fund big expenses such as, remodeling a home and paying off debts. Members are provided with custom guidance and special financial products which increases their chances of making Navy
Federal their lending service of choice for leveraging home equity in a smart and economical way. An account has to be registered with them to gain access to their home equity loan services.
| Feature | Description |
|---|---|
| Membership Requirement | Only for military members, veterans, and their families |
| Loan Types | Home equity loans and HELOCs |
| Competitive Rates | Offers competitive interest rates |
| Flexible Terms | Various loan term options available |
| No Hidden Fees | Transparent fees and charges |
| Personalized Service | Dedicated support tailored to military community |
2.Discover
Discover stands out for home equity loans because of their outstanding customer service. Discover also offers fixed-rate home equity loans, which come with no application, origination, or appraisal fees—thus assisting borrowers with lower upfront costs.
The loans have amounts between $35,000 and $300,000 with flexible repayment periods of up to 30 years. The user-friendly interface coupled with Discover’s support staff aids users in completing processes easily.
Even though they do not offer HELOCs, their simple structure and competitive rates make them perfect for homeowners looking for a one-time sum to address significant expenses like renovations, education, or debt consolidation.
| Feature | Description |
|---|---|
| Loan Type | Fixed-rate home equity loans only |
| No Application Fees | No origination, application, or appraisal fees |
| Loan Amount | $35,000 to $300,000 |
| Repayment Terms | Up to 30 years |
| Online Application | Fully online application and management |
| No HELOCs | Does not offer home equity lines of credit |
3.Rocket Mortgage
The digital lender Rocket Mortgage offers streamlined home equity loans and is a part of Quicken Loans. The web-based system permits borrowers to apply, receive approval, and manage their loans all through the internet.
This feature caters especially well to homeowners who are technologically literate. Although cash-out refinancing is Rocket Mortgage’s primary focus, they do offer home equity loans and HELOCs.
The company’s reputation is built on excellent customer service, speed and efficiency in processing, and customized loans, all provided swiftly and without much hassle.
| Feature | Description |
|---|---|
| Digital Platform | Entirely online mortgage application and management |
| Loan Type | Primarily cash-out refinancing, limited traditional home equity loan offerings |
| Fast Processing | Quick approvals and funding |
| Competitive Rates | Offers competitive interest rates |
| Personalized Loan Options | Customizable loan terms based on borrower needs |
| Strong Customer Service | Highly rated support |
4.TD Bank
Home equity loans from TD Bank are a good choice because of the dependable features and flexible borrowing options provided.
The bank’s home equity products include both loans and lines of credit to assist with other financial needs like home repairs, debt repayment, or large purchases.
TD Bank’s strong brand reputation is supported by its branch access, customer service, and ease of application with a more accessible process.
TD borrowers do not have to worry about hidden costs because the bank is clear about fees and terms and offers favorable repayment schedules.
Combined with its focus on the customer experience, TD Bank is an optimal choice for homeowners looking to access their home equity due to the strong financial products offered.
| Feature | Description |
|---|---|
| Loan Types | Home equity loans and HELOCs |
| Flexible Loan Options | Suitable for first-time buyers and others |
| Competitive Rates | Competitive interest rates |
| Branch Network | Wide physical presence for in-person service |
| Transparent Fees | Clear information on fees and terms |
| Flexible Repayment | Various repayment plans available |
5.U.S. Bank
Home equity loans and home equity lines of credit (HELOCs) are some of the products offered by U.S. Bank, a reputable lender.
Their loans have competitive rates and flexible terms which benefit borrowers looking to obtain funds for large expenses, debt consolidation, and even for home improvements.
With the option to apply online and a strong in-branch presence, they offer personalized service and convenience. Clear terms, no prepayment penalties, multiple repayment options, and customizable payment schedules are a few of the benefits that borrowers enjoy.
U.S. Bank is well-known for its reliability and customer-oriented solutions, which is why it is, and continues to be, a top-choice for homeowners looking to access their home equity with confidence.
| Feature | Description |
|---|---|
| Loan Types | Fixed-rate home equity loans and HELOCs |
| Competitive Rates | Attractive interest rates |
| Flexible Terms | Multiple repayment options |
| No Prepayment Penalties | No fees for early payoff |
| In-Branch and Online Access | Convenient service options |
| Personalized Support | Customer-focused loan assistance |
6.Spring EQ
Spring EQ is a digital lender focusing on home equity loans and lines of credit (HELOCs), allowing borrowers to quickly access capital with relative ease. Clients may borrow a maximum of $500,000 or 95% of their equity, whichever is less.
Fixed rate home equity loans are available with terms of 5 to 30 years, offering borrowers predictability in monthly payments. For HELOCs, Spring EQ offers both fixed and variable rates, with an interest-only draw period of 10 years followed by 20 years of repayment.
The entire application process is online, with prequalification’s done in minutes and funding completed in as little as 14 days. That said, borrowers should keep in mind that Spring EQ has an administrative charge of up to $799 and an annual maintenance fee of $99 for HELOCs.
Also, the lender does not have an online payment portal which could be a hassle for some borrowers. Nonetheless, Spring EQ is a great option for homeowners who need fast and flexible financing based on their home equity.
| Feature | Description |
|---|---|
| Loan Types | Home equity loans and HELOCs |
| Loan Limits | Up to $500,000 or 95% of home equity |
| Fixed and Variable Rates | Fixed-rate loans and variable-rate HELOCs |
| Loan Terms | 5 to 30 years fixed loans; 10-year interest-only + 20-year repayment HELOCs |
| Fast Funding | Funding as soon as 14 days after approval |
| Online Application | Fully digital process |
7.Flagstar Bank
Home equity loan options at Flagstar Bank are very attractive as they offer rate set loans for 10, 15, and even 20 years. The minimum and maximum loan amounts range from $10,000 to $1 million with an APR of 8.30% or higher.
Setting up automatic monthly payments through a Flagstar Bank account could help borrowers save on monthly payments owing to a 0.25% interest rate reduction.
Also noteworthy is the complete lack of closing costs on home equity loans at Flagstar which adds significantly to the savings. But it is important to understand that some states are excluded from accessing these loans such as California, Michigan, Indiana, Ohio and Wisconsin.
| Feature | Description |
|---|---|
| Loan Types | Home equity loans and HELOCs |
| Loan Amounts | $10,000 to $1 million |
| Competitive APR | Starting at 8.30% for loans |
| No Closing Costs | No closing fees on home equity loans |
| Rate Discounts | 0.25% discount with automatic payments |
| State Restrictions | Loans available only in select states (CA, MI, IN, OH, WI) |
8.AmeriSave Mortgage
AmeriSave Mortgage provides home equity lines of credit (HELOCs) which offer flexible borrowing options for homeowners with credit lines of up to $350,000.
Balance payments are manageable since these HELOCs come with a 10-year draw period (interest only), followed by repayment periods of either 10 or 20 years.
Borrowers also benefit from AmeriSave’s fully automated online application as they guarantee fast approvals and prompt funding. This makes AmeriSave a convenient option for homeowners looking to utilize their home equity.
There are also competitive adjustable rates and no AmeriSave hidden fees. This makes AmeriSave a transparent solution for home equity access.
| Feature | Description |
|---|---|
| Loan Types | Home equity lines of credit (HELOCs) |
| Loan Limits | Up to $350,000 |
| Draw Period | 10-year interest-only |
| Repayment Terms | 10 or 20 years repayment |
| Competitive Adjustable Rates | Transparent and competitive adjustable interest rates |
| Online Application | Fast and convenient online process |
9.Barclays
Barclays provides secured homeowner loans in the UK which allows you to borrow between £1 to £250,000 for a period between 1 to 25 years. These loans are perfect for consolidating debt or for other major life events like home improvements.
To qualify, you must be a home owner living in the UK aged 18 and above with a house hold income of more than £8,000 per year.
The whole application can be completed online and is incredibly quick with prequalification being offered. However, if repayments are not made, there is a high risk of losing your home.
| Feature | Description |
|---|---|
| Loan Type | Secured homeowner loans (UK only) |
| Loan Amount | Up to £250,000 |
| Loan Terms | 1 to 25 years |
| Fixed Monthly Payments | Predictable repayment schedule |
| Eligibility | UK homeowner, 18+, minimum income £8,000 |
| Risk | Home repossession risk if payments not maintained |
10.Better Mortgage
Better Mortgage has a fully automated Home Equity Line of Credit (HELOC) for primary, secondary, and investment properties with credit line limits reaching $500,000. The entire application is done online, with decisions made in as little as 24 hours and funding within a week.
Borrowers can access their home’s equity up to 90% with flexible draw periods of 3, 5, or 10 years, each leading into a 20-year repayment term.
Better Mortgage is also noted for having no fees related to applications, origination, or underwriting, and the process does not affect one’s credit score.
However, at funding, there is a minimum draw requirement of $50,000 or 75% of the limit, whichever is higher. This product can be obtained across the states except for Texas and Utah.
| Feature | Description |
|---|---|
| Loan Type | Home equity lines of credit (HELOCs) |
| Credit Line | Up to $500,000 |
| Draw Period | 3, 5, or 10 years |
| Repayment Term | 20 years |
| No Fees | No application, origination, or underwriting fees |
| Fast Funding | Approval in 24 hours, funding as soon as 7 days |
| Minimum Draw | $50,000 or 75% of credit limit at funding |
| Availability | All states except Texas and Utah |
Conclusion
In conclusion, it all comes down to what home equity loan lenders offer. If it’s online access, secure rates, or even flexible terms, it’s all dependent on your needs.
Navy Federal and Discover have great rates and perks while Better Mortgage and Rocket Mortgage dominate in digital services.
Flagstar is at the top for high loan limits too. Make sure to evaluate the features offered in detail so you can determine which lender aligns with your financial goals best.
