Craig Smith
Primary Editor
Today’s Top Home Equity Loan/HELOC Companies - April 2026
See Today’s Featured Companies Near You
Research and compare top featured home equity and HELOC lenders to save money every month. Get the best rate, apply online with flexible terms and award-winning customer service.
Loan Purpose
Credit Score
Loan Amount
Closing Timeline
Aven
Aven is a fintech company founded in 2019 that modernizes home-equity access through its flagship product—the Aven Home Equity Card. This innovative credit card is secured by a homeowner’s equity, offering low fixed APRs, high credit limits, no fees, fast digital approvals, and the ability to use funds anywhere credit cards are accepted. Positioned as a simpler alternative to traditional HELOCs and home equity loans, Aven provides a streamlined, app-driven way for homeowners to tap into equity with transparency, speed, and flexible spending power.
A+ Rating with BBB
Lower monthly payments by 30% or more
Reduces multiple payments to one
Over 300K clients served and $3B Paid Off
Personalized payoff terms of 24 to 60 months
Hometap
Hometap is a Boston-based fintech founded in 2017 that offers a unique, debt-free way for homeowners to access their equity. Instead of loans or HELOCs, Hometap provides a Home Equity Investment (HEI), giving homeowners a lump-sum cash payment—typically $20,000 to $600,000—in exchange for a share of their home’s future value. With no interest, no monthly payments, and a flexible 10-year term, Hometap’s fully digital process appeals to homeowners seeking cash flow relief or alternative financing for major expenses. It has become one of the most recognized brands in the home equity investment space.
A+ Rating with BBB
Lower monthly payments by 30% or more
Reduces multiple payments to one
Over 300K clients served and $3B Paid Off
Personalized payoff terms of 24 to 60 months
Achieve Loans
A+ Rating with BBB
Lower monthly payments by 30% or more
Reduces multiple payments to one
Over 300K clients served and $3B Paid Off
Personalized payoff terms of 24 to 60 months
PenFed Credit Union
PenFed Credit Union, founded in 1935 and headquartered in McLean, Virginia, is one of the largest federal credit unions in the U.S., offering a wide range of financial services including mortgages and home-equity products. Its primary offering in this space is the PenFed HELOC, which provides $25,000 to $500,000 in borrowing capacity, a 10-year draw period, variable or optional fixed rates, and minimal closing costs covered by PenFed. The credit union also offers fixed-rate home equity loans and educational resources, making it a convenient option for members seeking flexible home-equity financing.
A+ Rating with BBB
Lower monthly payments by 30% or more
Reduces multiple payments to one
Over 300K clients served and $3B Paid Off
Personalized payoff terms of 24 to 60 months
Upstart Mortgage
Upstart, founded in 2012 as an AI-driven consumer lending platform, expanded into home-equity lending in late 2023 with its digital-first HELOC offered through Upstart Mortgage. The HELOC provides $26,000–$250,000 in borrowing capacity, soft credit checks for rate estimates, fixed rates on each draw, fast online processing, and often no appraisal requirement. With a short draw period followed by a 10–15 year repayment term, the product is available only in select states. Backed by an A+ BBB rating and known for transparency, Upstart positions itself as a modern, tech-forward alternative for homeowners seeking quick and streamlined access to home equity.
A+ Rating with BBB
Lower monthly payments by 30% or more
Reduces multiple payments to one
Over 300K clients served and $3B Paid Off
Personalized payoff terms of 24 to 60 months
3,700+ Consumers
Have researched these providers in the past 30 days
Top Featured Brands
Featured brands are considered and selected based on the following:
Offers & Results
TopFeaturedBrands’ editors review service providers offerings, fees, results, services levels, accolades, accreditation, and customer service
Favorability
TopFeaturedBrands monitors engagement and response across multiple sources to present some of the largest and most popular brands within a category
Reputation
TopFeaturedBrands monitors and measures consumer sentiment, brand reputation, and reviews to present viable and credible providers
Research & Report
TopFeaturedBrands’ editors review top providers and comb a number of sources to curate the most up-to-date information
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Most Popular & Top Rated
2026’s top choice for Home Equity Loan/HELOC
A+ Rating with BBB
Lower monthly payments by 30% or more
Reduces multiple payments to one
Over 300K clients served and $3B Paid Off
Personalized payoff terms of 24 to 60 months
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2024’s top choice for debt consolidation
- A+ Rating with BBB and 10K+ five-star reviews
- Lower monthly payments by 30% or more
- Over 300K clients served and $3B Paid Off
- Personalized payoff terms of 24 to 60 months
FAQs
1. What’s the difference between a HELOC and a home equity loan?
A HELOC works like a credit card—borrow, repay, and borrow again during the draw period with variable rates. A home equity loan gives you one lump sum with fixed payments. Choose a HELOC for ongoing access to funds; choose a home equity loan for a one-time expense.
2. What credit score and equity do I need to qualify?
Most lenders require a 620-680 credit score (700+ for best rates) and at least 15-20% equity in your home. They’ll also evaluate your debt-to-income ratio (typically below 43%) and employment history.
3. How much will a HELOC cost me?
Variable interest rates currently range from 8-11%, plus potential application fees ($0-$500), appraisal fees ($300-$600), and closing costs (often waived). Annual fees may apply ($0-$100), and some lenders charge early closure penalties.
4. What are the risks of getting a HELOC?
Your home is collateral, so defaulting could mean foreclosure. Variable rates can increase your payments significantly, and overspending can lead to unmanageable debt. Home value declines may cause lenders to freeze your credit line.
How It Works
Application and Shopping Contact multiple lenders to compare rates and terms. Complete pre-qualification online with basic information about your home value, mortgage balance, and income. Compare at least 3-5 lenders before selecting one.
Documentation and Appraisal Submit formal application with pay stubs, tax returns, bank statements, and mortgage information. The lender orders an appraisal to determine your home’s value and calculates your credit limit: (Home Value × 80-90%) – Mortgage Balance.
Closing and Access Sign loan documents at closing, then wait three business days (right of rescission period). Receive checks, debit card, or online access to draw funds as needed during your draw period.
Draw and Repayment Periods During the draw period, borrow up to your limit and make interest-only payments (though you can pay principal). When the draw period ends, you enter repayment mode with principal-plus-interest payments over 10-20 years.
What Is Covered
Flexibility and Lower Rates Borrow only what you need, when you need it, paying interest only on what you use. Interest rates are significantly lower than credit cards (typically 8-11% vs. 20-25%), and you can re-borrow during the draw period.
Tax Benefits Interest may be tax-deductible if you use funds to buy, build, or substantially improve your home. Interest for other uses (debt consolidation, cars, vacations) is not deductible.
Account Management Online portals and mobile apps provide real-time access to your account, payment history, and available credit. Automatic payments and detailed statements help you track spending.
What’s Not Included No protection against rising interest rates (unless you pay for rate caps), no financial counseling, and no payment protection if you lose income. Lenders don’t provide reminders about draw period ending or help planning for payment increases.
