Best overall is Discover- Discover is best overall home equity loan that checks all the boxes, such as: Competitive rates, Generous equity access, High borrowing limit, No origination fees.
Best for low APR- As of April 2023, Third Federal offers 6.49% and 6.99% APRs for 5- and 10-year home equity loans, respectively.
Best for home improvement- Flagstar is one of the largest mortgage loan originators in the US. The lender's home equity loans may be ideal for homeowners with upper-value homes.
Best for debt consolidation- Rocket Mortgage is a reputable home loan lender offering home equity loans ranging from $45,000 to $350,000 and repayment terms of 10 and 20 years.
Best for borrowers with excellent credit- U.S. Bank has the best home equity loan for borrowers with good credit because it offers highly competitive rates for customers with scores of 730 or more.
Best for borrowers with bad credit- Discover makes our top home equity loans list because its fees are lower than most competitors’.
Best for Low Fees- Online bank Discover makes our list for its low fees — unlike most banks, it doesn’t charge any application, origination or appraisal fees.
Best Introductory Rates- Connexus Credit Union offers the best home equity loan introductory rates, with rates starting as low as 4.50%
Best for Quick Approvals- Figure offers a completely online application process, quick approval times and funding in as little as five days.