Best Introductory Rates- Connexus Credit Union offers the best home equity loan introductory rates, with rates starting as low as 4.50%
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 for borrowers with bad credit- Discover makes our top home equity loans list because its fees are lower than most competitors’.
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 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 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 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 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.
Top 9 Home Equity Loans in US in 2023 | Top 9 Home Equity Loans in US in 2023