r/HELOC

RANKED HELOC LENDERS -- BEST AND EASIEST FIRST

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1. FIGURE LENDING

Why it ranks first: Speed and accessibility. AVM-only, no appraiser visit, 5-business-day funding target, 49 states plus DC, first or second lien, piggyback supported, and the only lender confirmed to fund on an actively listed property.

What it does that others won't:
- Fund while property is on the market
- AVM-only valuation (no in-person appraisal)
- 640 FICO floor (lower than most HELOC lenders)
- Piggyback HELOC at purchase (80/10/10 and 70/20/10 structures)

The non-negotiable caveat: Full line drawn at closing as a lump sum. Fixed rate. Not a revolving line. Borrowers expecting traditional HELOC flexibility will be caught off guard. Set this expectation before application.

Loan range: $15K-$750K. CLTV up to 85% at 700+ FICO. Texas: 80% CLTV hard cap, $35K minimum, no investment property.

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2. DEEPHAVEN -- EQUITY ADVANTAGE HELOC

Why it ranks second: The only dedicated bank statement HELOC for self-employed borrowers I can confirm in the knowledge base. Launched December 2025.

What it does that others won't:
- Bank statement income qualification for self-employed
- Up to 90% CLTV on primary (highest confirmed ceiling in the space)
- 680+ FICO

This is the go-to for any self-employed borrower with complex tax returns who would get declined everywhere else on a HELOC. The 90% CLTV is also the highest of any lender in this list.

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3. KIND LENDING

Why it ranks third: Strong CLTV ceiling on piggyback and competitive on standalone. Closed-end second also available on the same platform, giving the LO flexibility on structure.

What it does that others won't:
- Piggyback HELOC up to 89% CLTV (nearly as high as Deephaven on primary)
- Closed-end second available alongside HELOC
- Buydown structures available on agency first mortgage when pairing products

FICO: 700+ for best tiers. Standalone and piggyback both available.

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4. CROSSCOUNTRY MORTGAGE -- EQUITY EXPRESS

Why it ranks fourth: True revolving traditional HELOC, not a lump-sum draw. If your borrower wants to draw what they need when they need it over a multi-year period, this is the structure Figure cannot provide.

What it does that others won't:
- Revolving open line (draw, repay, draw again)
- Renovation HELOC variant also available
- Full non-QM platform means complex borrower scenarios can often be handled on the first mortgage side simultaneously

Best for: Borrowers who explicitly want a revolving credit line rather than a one-time draw.

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5. MOVEMENT MORTGAGE

Why it ranks fifth: Fixed-rate, fully online, up to $750K, fast processing. Competes directly with Figure on the lump-sum fixed model but with a more established brand name and stronger retail service reputation.

What it does that others won't:
- J.D. Power top-rated service reputation (meaningful for retail borrowers who care about the experience)
- Fixed rate certainty without the Figure class-action baggage
- Up to $750K loan amount

FICO and CLTV: Confirm current matrix with AE. Generally competitive with Figure on clean files.

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6. UWM -- STANDALONE AND PIGGYBACK HELOC

Why it ranks sixth: Wholesale-only, so only accessible through broker channel. But for brokers, it's a clean execution option with competitive pricing.

What it does that others won't:
- Piggyback HELOC up to $350K at 680+ FICO (second lien behind new first)
- Standalone up to $500K at 640+ FICO
- Not available in Texas

Limitation: Broker channel only. Borrower cannot go directly to UWM.

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7. BANK OF AMERICA

Why it ranks seventh: Traditional revolving variable-rate HELOC. Relationship pricing discounts for existing BofA customers can be meaningful. Preferred Rewards members can get rate reductions.

What it does that others won't:
- Relationship rate discounts (up to 1.5% rate reduction for Preferred Rewards Platinum Honors)
- Strong for borrowers who already bank at BofA and want a single relationship
- Nationwide branch presence for in-person support

Limitation: Strict overlays, slower than non-bank lenders, less flexible on credit or income complexity.

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8. WELLS FARGO

Why it ranks eighth: Traditional revolving HELOC with broad national footprint. Historically strong on jumbo HELOC for high-value properties.

What it does that others won't:
- Higher loan amounts available for jumbo property scenarios
- Existing customer relationship discounts
- Strong for clean high-income W-2 borrowers with substantial equity

Critical note: Wells HELOC has been suspended at various points. Verify current availability with the lender before sending a client there. This is not a theoretical caution -- it has happened.

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9. US BANK

Why it ranks ninth: Full agency platform, solid HELOC product, strong in Midwest and West. Competitive for existing US Bank customers.

What it does that others won't:
- DPA programs in some markets can be layered on the first mortgage side
- Medical professional loan program available alongside HELOC
- Competitive for borrowers in Midwest and Western states where US Bank has strong presence

Limitation: Less differentiated than others on this list. Best when the borrower already has a banking relationship there.

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10. JPMORGAN CHASE

Why it ranks tenth: Solid traditional HELOC for existing Chase customers. Relationship banking is the primary value driver.

What it does that others won't:
- Homebuyer Grant program in eligible census tracts (first mortgage side)
- Relationship pricing for Private Client customers
- Strong for high-net-worth borrowers who want a single institution

Limitation: Generally strict

Loan Amount: $70,000
Current mortgage rate: 2.65%
Owe: $298k
Various appraisals: $500-$550k

Estimated Rate: 8.75% variable (Prime + margin). Includes a 0.25% discount for ACH payments from an account I have to set up with them with auto payment.

Must draw $25.000 at closing to qualify for rate.

20-year. 10-year interest-only draw period. 10-year repayment. 3-year draw period.

No prepayment penalty.

Covers closing costs unless closed within 36 months.

Option to lock balances into fixed-rate terms later (5, 10, or 20 years).

Planned use:
Windows, hvac, add insulation to attic, deck, kitchen remodel if there’s money left over.

A few questions:
Does this seem like a decent HELOC in today’s market?

Any red flags I should watch for before signing?

A few months before marriage, my soon to be ex husband and I bought a house. We bought it in cash pretty 50-50. The house was a little bit of a fixer upper, but we still had some money left over to fix the home. My husband does not have the best spending habits and that money ended up not being used for the house. He was considering taking out a home equity line of credit to which I said I did not want any part of the loan. He said he needed my signature because I was a co-owner of the House and we met with who I’m assuming it was a loan officer and he was approved for $110,000 on the home equity loan, which was not the full amount we paid on the house . flash forward a few years we are getting it a divorce. My name is not on this loan, but it is now my understanding that because I’m a co-owner of this house the house is collateral or I’m a cosigner. I’m I’m not entirely sure. I’ve never taken out a loan. My lawyer sent me documents and my husband is asking that when the house is sold, his loan is paid off first before we split the remainder of the money now I have not seen what this loan has been spent on so I said, could you provide the receipts to ensure that I am my half of my investment that’s being dipped into is going towards the home to which I’ve learned my husband husband been living off of that loan of course since my name is not on the loan and I didn’t want the loan in the first place I’m having a hard time seeing that I should be paying half of his living expensive and God knows what else is there anyway that I can contest this or not be obligated to pay for this loan again my name is not on it most of my money in savings and what not I have wrapped up into that home. He was our only source of income while I was finishing school, so I have not yet started my actual job and I have been living off of savings for my waitressing job. Given that he had a good paying job and has recently started the police Academy. I’m not sure why he would’ve needed to use that loan to live off of. I’m just trying to explore my options here and see if there is a way that I can get money back from my investment, which was the house without being responsible for the debt that he’s accumulated.

Sorry for any typos I’m using Siri and I’m so drained I don’t want to proofread.

I’m in a unique situation.
No mortgage on a home worth $500-600k.
I did get a variable Heloc in 2019 for $100k for home improvements and bad investments, lol. Currently sitting with 46k still available, making barely over minimum payments because of current economy and situation.
My question is, would moving all cashflow (paystubs) and all expenses (bills) in and out of the Heloc benefit me?

I've personally funded HELOCs using FIGURE on homes currently listed for sale, and they can also be done on DSCR, bank statement, P&L loans through Champions. Just to clear up that misconception in case any of you run into this obstacle with other companies which won't do them. I'm aware that has been our industry standard for many years. But that is changing now. If you know of others who will also do this, please post them here. I always like learning more from the other pros here too.

I need to borrow money to do some home improvements, Helocs seem like the best option but they always have a hangup one way or another. Either the interest rate is too high, the closing costs are too high, the terms are bad etc. I have a lot of equity in my house and a good credit score, but every lender I talk to seems like a slimy sales man trying to get one over on me. Why do they need huge closing costs when they're already making 6%+ APR off my loan, and the money I'd borrow is guaranteed multiple times over.

Back in late 2025 I applied for and got the Aven HELOC card, almost entirely because of the 1% mortgage payment cashback program they were advertising/offering. The details on how this worked was never really made clear, but eventually they linked me to this document, and let me know that after 4K in spend in the first 3 months, I'd be eligible. https://www.aven.com/public/docs/MortgagePaymentCashback10Terms?ref=cardsftw.com

However, three months later, the story suddenly changed. The program was discontinued in 2024. The proof? Well, that same document. I let them know that's ridiculous on a lot of levels, and not just because that isn't what the document actually states. They tell me they need to do some investigating and they'll get back to me. A month later, they say they "escalated" my concerns, but that the program doesn't exist anymore. I asked to chat with whomever made this decision/investigation, and a week later, I got an email STILL claiming that the program was discontinued in 2024, but that they would give me 1% cashback for a single month of mortgage payments! Below is my email I sent back. I'm pretty shocked by how dumb they must expect me to be.

Hello redacted,

You and others have linked me to that document a good 5 times, and the story around it has changed every time.  At first, it was to explain how the program worked, both in December of 2025, and afterwards in early 2026.  Frankly, it's insulting that I should take it as evidence that the program was discontinued in Dec 2024, and not only because of support telling me that the program still existed in 2026.  It's because that isn't what the document says.  It says that after that date, the program CAN be discontinued.  Now, that's fine, but I don't see what that has to do with my situation.  I watched a youtube video, paid for by Aven, promoting the 1% cashback from April 2025, and I started this whole process by clicking a link attached to it.  https://www.youtube.com/watch?v=fUujZ7KCnVM

Now, even if support hadn't explicitly told me the program still existed and instructed me on how much spend was required to make me eligible, this claim that the program ended in 2024 is preposterous.  I don't feel like you're being honest with me.  In that same document, what it DOES say is the following:

We may suspend or terminate the Program, or your participation in the Program, at any time (including but not limited to at the time of the annual renewal of your account as described in your account agreement), and subject to Aven’s sole discretion. We will give you prior notice to the extent required by law.

There wasn't any notice given, apart from explaining what I needed to spend to be eligible.  Every clarification that has been given to me about this program has either been outrageous or nonsensical, and I'd like to talk to someone that can honestly tell me what is going on.

-Me

The mortgage on our current house is completely paid off. We're planning to downsize--can we get a HELOC and use it to buy another house? Am I right that then, when our old house sells, the HELOC would be paid off in the same way a mortgage would?

I own a property in Redlands, CA that consists of:

- Main house: 3 bed / 2 bath (~1,250 sq ft)
- Detached permitted ADU: 1 bed / 1 bath (~400 sq ft)

The property appraised for ~$608k about 3 years ago AFTER renovations and after the detached ADU was completed/permitted.

The issue:
I’ve spoken with lenders like Achieve and Wescom, and they’re using automated valuation models / online appraisal systems that are valuing the property significantly lower than expected. It feels like the systems are not properly accounting for the permitted detached ADU or the property’s rental income potential.

Current setup:

- ADU operates as a monthly rental
- Main house operates as a hybrid LTR/MTR setup
- Gross rental income on this property was around ~$97k on my recent tax returns
- Schedule E still showed positive net rental income overall
-I Owe about 381k on the property

Credit / financials:

- Mid-700s credit score
- No late payments
- Stable W-2 employment (Respiratory Therapist)
- Existing mortgages paid on time
- Looking for roughly 80% CLTV HELOC

Questions:

1. Have any of you had issues with AVMs undervaluing ADU properties?
2. Did you find lenders more willing to order full appraisals instead?
3. Any recommendations for lenders/credit unions familiar with California ADU properties and rental income?
4. Would waiting until tenants move out help appraisal value significantly?

Trying to determine whether I should keep shopping lenders or wait until the property is fully stabilized and easier to show.

Appreciate any advice from people who’ve dealt with ADU appraisals or HELOC underwriting on this type of property

Hi, I am looking for examples of real people who have charted the amount of years that it took to pay off their primary mortgage faster. A mortgage broker told me that I could pay off my primary residence in 3 to 4 years and spent another five years paying off the HELOC. I have about $10,000 in rental income and about 1500 of it is cash flow. Primary mortgage balance has $374,000 left and the value is $575,000.

Location: Texas

Situation: First lien with approx 350k @ 3%, appraisal a few years ago showed 600k value. Based on the specific location we don't expect this has changed much.

We were hit by a bad storm that has totalled our roof and left additional damage over 2 sides of the house. We are still waiting on adjuster but expect full cost to be in the 80k range minimum. We have a very high deductible and while we can pay it out of cash reserves it wouldn't be fun. We also want to take this opportunity to upgrade to a metal roof (we had been planning/saving on doing this within the next year anyway). Based on the estimates we have for upgrading to metal plus our deductible we are anticipating we would be looking at 50k-55k out of pocket, but of course we won't know for sure until we know what insurance is willing to pay out.

We've been looking at HELOC/HEL as options, possibly around a 75k limit/amount, just to have a buffer. We have one car payment, but no other non-mortgage debt. Questions:

1. Does it even make sense to take more debt when we can likely get the liquidity to pay cash for our portion, even if it would leave us more vulnerable to emergencies in future until we recover? (I know this is probably personal preference but appreciate options)

2. Would the interest be deductible on taxes? We keep seeing people use "renovations" but none use repairs so we are uncertain if this counts

3. Would one option make more sense over the other? We think HELOC since we would only pay interest on what we took out, but appreciate opinions.

4. We are a little nervous about the thought of an adjustable rate, is there somewhere online that clearly shows the recent historic prime rates Typically used?

5. Does the appraisal look at the "now" value? Will the value be less because we have damage, even though the whole point of looking for loan is to repair damage? (We believe because we are a relatively rural location an appraisal would be required, AVM and other valuation models likely will not satisfy lender)

Appreciate any input!

My wife and I recently assumed a mortgage on our primary home and were able to keep the existing low interest rate, so we absolutely do NOT want to refinance or touch the first mortgage at all.

Here’s our rough situation:

• Home value: around $780k
• Current mortgage balance: around $359k
• Credit scores: ~780s
• Both in healthcare (RN + Physician Assistant)
• Looking at major home renovations/addition
• Estimated renovation cost: around $300k–360k

We’ve been researching:

• HELOCs
• Fixed-rate home equity loans / second mortgages
• Personal loans
• Construction or renovation loans

Main goals:

• Keep existing first mortgage untouched
• Lowest rate possible
• Prefer fixed payments/rates
• Avoid crazy closing costs or predatory products
• Potentially borrow in stages depending on contractor timeline

A few questions for people who’ve been through this recently:

1. Did you go HELOC or fixed second mortgage and why?
2. Any lenders/CUs you recommend in California? (Looking at Logix and SchoolsFirst Credit Union currently)
3. Did lenders give trouble after a recent purchase or loan assumption due to seasoning requirements?
4. Has anyone successfully borrowed based on AFTER renovation value/appraisal?
5. If you needed more than 80% CLTV, what route did you take?
6. Would you avoid variable-rate HELOCs right now?
7. Any hidden downsides I should know before applying?

Trying to make the smartest move financially without losing our current mortgage rate. Appreciate any advice or lessons learned.

Any recommendations for Texas banks/ credit unions to do HELOC through? Would like a longer draw period. Interested Navy Federal (I know not Texas based) as I recently read a positive story but I don’t know if I can prove my relationship to my grandfather.. everyone is dead who would know his info. It looks like Navy Federal has a 20 yr draw and 20 yr repayment.. reason I’m looking for longer draw is because I learned you can only do this once in Texas? If I’m understanding correctly. You can’t ever do it again on your property. So wondering if there are any recommendations for Tx credit unions to check out?

Had a sit down discussion today at BofA and the agent kind of confirmed all the things that the website said about the HELOC they offered. $0 application, $0 annual fee, and $450 to close the account if it's under 3 years. The rate from what I heard was pretty good and I'm wondering if there is anything else I'm missing in terms of cost that's not from the interests. I would really appreciate it if anyone can share any experience with getting a HELOC with BofA. Thanks!

My credit score is 683, and my annual income is $65,000. I still owe about $50,000 on my mortgage, and my home in Texas is worth around $500,000.

I’m considering applying for a $250,000 HELOC. The plan is to:

- Pay off and close my existing $150,000 HELOC

- Pay off about $100,000 in personal loans and credit card debt

Based on the post-payoff debt-to-income ratio, would I likely qualify? Has anyone been approved in a similar situation?

Looking for honest advice or lender experience.

I am trying to access 60-80k on a home I have approx 150k liquid. No liens, I rent the home out.

I am trying to get approval for a no-doc HELOC that is quick to close but offers a 10 year draw. I’d like for the rate to be reasonable as the plan would be for me to use this cash for no more than 6months at a time.

Does anyone have a direction I can go lean into as far as lenders?

Problem is showing tax history for my business but I can provide bank statements. I filed a personal tax return for last year showing $39,600 and I make $4000 from VA.

I appreciate any advice. Thank you.

Can any lenders in MD quote a HELOC for some home improvements?

Experian score - 674

AVM appraisal - Received several ranging from $500,000 to $556,800

Current balance - $298,192.68

Loan amount $70,000

I'll start this off by saying that I have read a lot of posts on here in this group and others on reddit regarding people feeling hopeless and buried in debt.

My situation: I had been running a successful business making extremely good money, until COVID killed me. Part of the funds I was using to operate was credit cards, and I managed to put myself in roughly 125K debt.

The interest rate was high on some ok on others but there were 10 lines open and ALL maxed out. My monthly income was ALL going to (Mortgage, Bills, Debt) with very little left over for anything else.

I had to borrow money from friends & family all the time paying back what I could when I could, and then borrowing again.

Fortunately for me I do have quite a bit of equity in my home and I managed to never be late on any monthly payments. So even though my credit score suffered from high DTI (Debt to Income), it was still over 700 but barely.

I had to do something because I was drowning and getting very depressed.

I applied with Navy Federal Credit Union because I was told they could possibly do the loan with my Income, LTV and DTI. But the drawback was they could take 45+ days to fund.

I met quite a few people here in the HELOC group and they suggested applying with FIGURE, I applied on my own and got denied.

Then one of the people I spoke with here who was a broker that worked with FIGURE said he could get me approved same day and funded in about a week after listening to my situation and discussing my income.

I figured why not, it couldn't hurt to see what he could do. Sure enough I was approved for $200,000 HELOC at 9.35%. Closing costs weren't ideal but it was a solid option I knew I had available now.

Fast forward about 35 days, I still had the FIGURE offer sitting there waiting for me to sign closing documents with Notary as a second option to Navy Federal.

But then all of a sudden (On a Thursday) Federal Credit Union came through, $155,000 Approved at 8.5% and $0 costs for me to do the loan. Notary documents signed on Friday, and funded on Wednesday!

They sent Payoff Checks to each individual creditor themselves which saved me the hassle!

Obviously I was elated...long story short, my CC monthly payments went from $4,500+ not even making a dent to $1,500 making massive progress every month.

I want everyone here to know that you have options and even when everything seems hopeless, there is always something you can do. Something different you can try, and people out there wanting to help.

Stay positive and feel free to ask any questions you may have, I'm always happy to help or share advice! 👊🏼🇺🇸

Currently own a 3 unit multi family that I reside in and unfortunately I went into $19K in debt and would like to purchase another home. Purchased my home in 2021 then needed repairs which was completed in 2022 in all 3 units. I’ve seen online my home is valued around $538K to $635k when I bought it for $360K. Searching for a bank with a HELOC with bad credit in MA.

Does anyone know of any lenders that will provide a LOC/loan using my ESOP as collateral?
I know the general answer is no-but I’m wondering if there’s somewhere out there that will with a higher interest rate than is usual perhaps.
My situation is that I can only cash out my esop once I leave this company-but I don’t want to leave .
Approx 400k in esop, year over year is fantastic-25% last year, over 15% consistently.
No company contributions-all me.
Not publicly traded.
I need 40k like yesterday, and I am literally having to consider leaving my position to access these funds if I can’t come up with something else.
Banks won’t touch me because the only banking history I have is a couple small credit cards.
Never had a mortgage, never had any big loans (a couple around 3-5k in past)
No collections or negatives.
All payment histories on time.
My only investments or anything like that is this esop.
No rrsp.
Income 85000/year.
Low credit score due to no credit history as opposed to bad credit history
Credit score 675
40yo

I would like to find somewhere to borrow 40k, and pay back 50k in a year.
This would be ideal for me as if I stay until next years price-I would expect I will make another 100k in esop-therefore even though paying 10k on 40k is 25%-it is more than made up for with the esop i would be able to leave in.
If you have any suggestions I really appreciate it.
I’m quite stuck.