Best Lenders for Home Equity Loans in October 2026
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| Lender | Best for | User ratings | |
|---|---|---|---|
 | Overall and discounts on rates and closing costs | User reviews coming soon | |
 | High LTV ratios | User reviews coming soon | |
 | Online experience | User reviews coming soon | |
 | Low credit scores |
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Ratings and reviews are from real consumers who have used the lending partner’s services.
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 | Fast closings |
(729)
Ratings and reviews are from real consumers who have used the lending partner’s services.
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Read more about how we chose our best home equity loan lenders.
Best home equity loan lender and for closing cost discounts
BMO
- Loan terms
- Five to 20 years
- Min. loan amount
- $5,000
- Min. credit score
- 700
- Avg. loan costs (all loan types)
- $5,495
- Low fees
- Operates nearly 1,000 branches
- Provides an online application
- Doesn’t share its LTV ratio or loan amount requirements
- Not accessible for borrowers with bad credit
You’ll have the best chance of qualifying for a loan with BMO if you have a 61% loan-to-value (LTV) ratio or better, according to nationwide data from 2024. That year, about 46% of approved borrowers had a debt-to-income (DTI) ratio below 40%.
Use LendingTree’s DTI calculator to find your debt-to-income ratio.
LendingTree chose BMO as the best home equity loan lender overall and the best for closing cost discounts because they cover closing costs, provide transparent online rates and guides, and offer the deepest discounts on home equity loan rates of any other lender reviewed.
In addition to removing your upfront expenses, BMO also offers a 0.25% interest rate discount if you set up automatic payments from a BMO account, helping you save on your home equity loan.
You can check rates online and view them broken out by loan amount and repayment term. There’s also an online application and a guide to help you through the process.
BMO services loans across the U.S. and has over 1,000 in-person branches, making it a very accessible option for homeowners.
Read LendingTree’s full BMO review to help decide if this lender is right for you.
Best home equity lender for high-LTV loans
Navy Federal Credit Union
- Max. LTV ratio
- 100%
- Min. loan amount
- $10,000
- Min. credit score
- Not specified
- Avg. loan costs (all loan types)
- $3,165
- Allows qualified homeowners to borrow up to 100% of their home’s value
- Publishes home equity loan rates on its website
- No application or origination fees
- Only serves military borrowers and their families
- Doesn’t share its minimum credit score requirement
LendingTree chose Navy Federal Credit Union as the best home equity loan lender for high-LTV loans because they allow borrowers to access up to 100% of their home’s value.
Website visitors can also see home equity rates customized to their location, home type and financing needs without divulging private information (like their name, phone number or email address).
You can contact customer support online via chat, by phone or even on X (formerly Twitter). The website also provides a step-by-step guide to help you understand your home equity loan’s timeline.
Navy Federal Credit Union serves active duty service members, veterans, members of the U.S. Department of Defense and their immediate families and household members in all 50 states.
Read LendingTree’s full Navy Federal review to help decide if this lender is right for you.
Best home equity lender for online experience
TD Bank
- Loan terms
- Five to 30 years
- Min. loan amount
- $10,000
- Min. credit score
- Not specified
- Avg. loan costs (all loan types)
- $2,709
- Allows a variety of home types to secure the loan, including second homes and co-ops
- Offers discounts to borrowers who set up automatic payments out of a TD Bank checking or savings account
- Charges a flat $99 origination fee
- Doesn’t serve most states
- Doesn’t allow borrowers to use their home equity loan funds for college tuition
- Doesn’t allow you to borrow less than $10,000
You’ll have the best chance of qualifying for a loan with TD Bank if you have a 59% loan-to-value (LTV) ratio or better, according to nationwide data from 2024. That year, nearly half (49%) of approved borrowers had a debt-to-income (DTI) ratio under 40%.
Use LendingTree’s DTI calculator to find your debt-to-income ratio.
LendingTree chose TD Bank as the best home equity loan lender for online experience because their website is streamlined and easy to use, with a rate tool that is simple to find and customizes options based on your location.
TD Bank also publishes a detailed list of the fees it charges on its website, and offers terms ranging from five to 30 years.
An added bonus: A TD Bank home equity loan can be secured by a second home or investment property — most home equity lenders only allow you to borrow against your primary residence.
Unfortunately, TD Bank only services loans in 15 states (Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, and Virginia) and Washington D.C., making them less accessible than many other lenders.
Read LendingTree’s full TD Bank review to help decide if this lender is right for you.
Learn more about home equity loans on investment properties.
Best home equity lender for bad credit
New American Funding
- Loan terms
- Five to 30 years
- Min. loan amount
- Not specified
- Min. credit score
- 620
- Avg. loan costs (all loan types)
- $7,141
- Publishes some rates online
- Has in-person locations across the country
- Allows borrowers to get prequalified and preapproved online
- Higher credit score minimum (640) for HELOCs
- Higher fees than other reviewed lenders
- Lack of specific information about products on their website
You’ll have the best chance of qualifying for a loan with New American if you have a 80.6% loan-to-value (LTV) ratio or better, according to nationwide data from 2024. That year, 42.2% of approved borrowers had a debt-to-income (DTI) ratio under 40%.
Use LendingTree’s DTI calculator to find your debt-to-income ratio.
LendingTree chose New American Funding as the best home equity loan lender for bad credit because they consider borrowers with credit scores as low as 620 — one of the lowest allowed by all the reviewed lenders.
Plus, borrowers don’t need to be associated with the military to qualify with this low credit score.
New American offers both home equity loans and HELOCs, but doesn’t have a fixed-rate HELOC product like some of the other lenders in this list, and the HELOC minimum credit score is 640.
New American has an online application and can issue loans in all 50 states, the District of Columbia and Puerto Rico. They operate more than 300 brick-and-mortar locations, meaning convenient access to funds in whatever way suits you best.
Read LendingTree’s full New American Funding review to help decide if this lender is right for you.
See LendingTree’s full list of the best home equity lenders for bad credit.
Best home equity lender for fair credit
Spring EQ
- Loan terms
- 10 to 30 years
- Min. loan amount:
- $50,000
- Min. credit score
- 640
- Avg. loan costs (all loan types)
- $2,368
- Offers fast funding
- Allows you to tap up to $500,000 of your home equity
- Doesn’t charge charge prepayment penalties
- Doesn’t offer rate quotes unless you share personal information
- Doesn’t disclose its maximum LTV ratio requirements
- Doesn’t disclose fees on its website
You’ll have the best chance of qualifying for a mortgage with Spring EQ if you have a 70% loan-to-value (LTV) ratio or better, according to nationwide data from 2024. That year, about 45% of approved borrowers had a debt-to-income (DTI) ratio below 40%.
Use LendingTree’s DTI calculator to find your debt-to-income ratio.
“I am so pleased with my experience with this company […] I would like to thank you for making a scary process more understandable and manageable.”
— Nicky from Naples, Maine (December 2025)
“From the moment I reached out for assistance with my loan application, they exhibited professionalism, expertise and a genuine commitment to helping me achieve my financial goals.”
— Kelly from Cleveland, Ohio (April 2024)
“Their higher LTV made my equity amount so much more accessible. I highly recommend them.”
— Maria from Miami, Fla. (October 2022)
“The process was very easy. Every person I dealt with made me feel as if I was their No. 1 customer. They were all extremely courteous, respectful and professional. When I’m ready to refinance, Spring EQ will be my first choice for that process.”
— Gisela from Bushkill, Pa. (September 2022)
Read more reviews.
LendingTree chose Spring EQ as the best home equity loan lender for fair credit because they allow homeowners with credit scores as low as 640 to apply and potentially borrow up to 90% of your home’s value — slightly more than the max 85% LTV many lenders offer.
Spring EQ is one of two lenders reviewed that specializes exclusively in home equity loan products. Homeowners can convert equity to cash in as little as 11 days, according to Spring EQ’s website. This is much faster than the standard two to eight weeks.
Spring EQ is licensed to lend in 48 states (not available in Alaska or New York) and allows borrowers to apply online and by speaking with a loan officer.
Read LendingTree’s full Spring EQ review to help decide if this lender is right for you.
Read more about how we chose our best home equity loan lenders.
Standard home equity loan requirements
Home equity loan lenders typically require:
- Debt-to-income (DTI) ratio maximum: 43% to 50%
- Credit score minimum: 620 to 680
- Home equity minimum: 15%
For more details on how to qualify, visit LendingTree’s home equity loan requirements page.
How to compare home equity loan lenders
Compare APRs, not just interest rates
While interest rates are an important factor, they only capture what you’re paying to borrow the money, not the other costs of the loan. A loan’s annual percentage rate (APR) gives you a better basis for comparing different loan options because it takes all of the costs and fees into account.
Check itemized fees and closing costs
It’s common for lenders to require a home appraisal, and most also charge origination fees and other closing costs. If you’re not sure why one lender has a higher APR than another, it can pay to look at your loan estimate for itemized costs and fees.
Look at loan limits and repayment terms
If you need a certain amount of funds, it’s important to confirm that the lenders you apply with can accommodate your needs. Most limit you to borrowing 85% of your home’s value — minus your outstanding mortgage balance.
Consider funding speed
If you have a time-sensitive project to fund, you may want to search for a lender that specializes in quick closings. Most home equity loans take about two to eight weeks to close, but some lenders can get you to closing in as little as five to seven days.
Get quotes from multiple lenders
It pays to get quotes from multiple lenders. This allows you to compare the features of each offer and choose the best option. LendingTree makes this easy to do; you’ll only have to fill out your information once to receive multiple offers.
How to get banks to compete for your business with LendingTree
Shopping for a home equity loan shouldn’t mean filling out tons of applications. With one form, compare rates from our network of vetted home equity lenders.
1. Tell us what you need
Take two minutes to tell us about yourself, your home and when you need the money.
2. Shop your offers
If you qualify, we’ll send you offers from up to five lenders from the nation’s largest lender network.
3. Access your home equity
You’ll choose the lender that fits your budget and needs and send in a formal application. They’ll send you the money for your home equity loan if you’re approved.
Is now a good time to take out a home equity loan? Rates and trends
Home equity loan rates are higher than they were a year ago, but home values have also increased in most of the country over the last year. That gives homeowners more borrowing power, and many have been jumping at the opportunity — more than at any time since the second quarter of 2022.
How LendingTree chose the best home equity loan lenders
We reviewed more than 40 lenders to determine our picks for the best home equity loan lenders. LendingTree reviews and fact-checks our top lender picks annually by gathering loan program and requirement details directly from lenders and analyzing data from the Home Mortgage Disclosure Act (HMDA) government database.
We review several key factors: digital application availability and ease of use, product and lending information accessibility, in-person branch footprint and LendingTree’s expert star rating.
LendingTree best lender criteria
To be considered as a potential best lender pick by LendingTree experts, the lender must provide users with an online loan application experience that is relatively easy to follow and complete.
This means the lender must provide a user-friendly website and make their customer service contact information easy to find online.
To qualify for “best lender” consideration by LendingTree experts, the lender must provide users with an online experience that helps borrowers make sense of the mortgage lending process.
This means the lender must provide free online learning materials to help homebuyers understand the lender’s offered products, basic loan qualification requirements and high-level rates information.
Lenders must offer mortgages in at least 35 states across the U.S. to be considered a best lender pick. This allows a wider range of users to potentially choose the lender for their home loan, improving accessibility when customers need to contact the lender or get a rate quote.
For lenders to qualify for consideration as a best lender pick, they must have at least a four-star lender review rating from LendingTree experts. This rating indicates that the lender meets most, if not all, of the five criteria considered when assigning ratings. Here is the LendingTree star rating system for this year:
- Publishes rates online (+1 star)
- Offers standard mortgage products (+1 star)
- Includes detailed product info online (+1 star)
- Shares resources about mortgage lending (+1 star)
- Provides an online application (+1 star)
LendingTree mortgage experts’ process for choosing the best lenders
LendingTree gathers data directly from lenders through their websites, disclosures and, in some cases, direct communication with company representatives. Lenders that clearly present product details and terms are viewed more favorably in our evaluation.
The LendingTree editorial team applies consistent criteria to every lender. We also verify and update information periodically. Lenders cannot pay to influence our ratings. Read LendingTree’s editorial guidelines for more information.
Why trust LendingTree’s methodology?
As the lead editor for all purchase, refinance and home equity content, I rely on my 14+ years of personal finance experience to manage a team of staff writers and contributors who create consumer-friendly guides.
Together, our team aims to make LendingTree a reliable and helpful resource for readers as they navigate the complex mortgage lending process.
