If you’re looking to tap into your home’s value, choosing the right home equity loan lender can save you thousands in interest and fees. Whether you’re funding renovations, consolidating debt, or covering major expenses, the lenders below consistently rank among the best for competitive rates, flexible terms, and strong customer service. Let’s break down the top 10 home equity loan lenders you should consider this year.
1. Bank of America
Bank of America is a popular choice for homeowners seeking competitive fixed-rate home equity loans with predictable monthly payments. Borrowers appreciate its transparent fee structure, rate discounts for Preferred Rewards members, and flexible loan amounts. There are no application fees, closing costs, or annual fees in many cases, which can significantly reduce upfront expenses. The online application process is smooth, and in-branch support is available if you prefer personal guidance. If you already bank with Bank of America, you may qualify for relationship discounts, making this lender especially appealing for existing customers.
2. Wells Fargo
Wells Fargo offers fixed-rate home equity loans with competitive interest rates and flexible repayment terms. One standout feature is its in-person branch network, which can be helpful if you prefer face-to-face consultations. Borrowers can access substantial loan amounts depending on home equity and credit profile. Wells Fargo also provides clear rate disclosures and educational resources, making it beginner-friendly. While fees may vary by state, many customers appreciate the straightforward approval process and strong brand reputation. It’s a solid option for homeowners who value stability and nationwide accessibility.
3. Discover
Discover stands out for its no-closing-cost home equity loans and fully digital application experience. Borrowers can secure fixed rates and predictable payments, which makes budgeting easier. The lender is known for excellent customer service and transparent terms with no hidden fees. Discover also offers flexible repayment periods and relatively fast funding timelines compared to traditional banks. If you’re comfortable applying online and want a streamlined, tech-friendly process, Discover is a strong contender. It’s particularly appealing for homeowners who want minimal upfront costs and clear, simple loan structures.
4. U.S. Bank
U.S. Bank provides competitive fixed-rate home equity loans with flexible term options. Customers often highlight its reliable customer service and user-friendly online banking tools. Borrowers who already have accounts may receive rate discounts, adding extra value. The lender typically allows significant loan amounts depending on your equity and credit score. With both online and in-branch support available, U.S. Bank balances convenience and personal service. It’s a dependable choice if you’re looking for a traditional banking institution with strong financial stability and transparent lending policies.
5. Citibank
Citibank offers fixed-rate home equity loans and lines of credit, giving borrowers flexible borrowing solutions. Relationship pricing discounts are available for eligible customers, which can lower interest costs. The lender provides helpful financial tools and a digital-friendly platform, making account management simple. While availability may vary by location, Citibank’s global presence and financial strength add credibility. It’s ideal for borrowers who already use Citi products and want to consolidate financial services under one institution. Competitive rates and personalized support make it a noteworthy contender in the home equity loan market.
6. PNC Bank
PNC Bank is known for flexible loan terms and competitive interest rates on home equity loans. Borrowers can choose from various repayment options to match their financial goals. PNC also offers helpful calculators and educational resources to guide decision-making. Existing customers may qualify for rate discounts, making it attractive for current account holders. With a strong regional presence and online accessibility, PNC balances convenience with personalized service. It’s a reliable lender for homeowners who want structured repayment terms and transparent fee disclosures.
7. Chase Bank
Chase Bank provides both home equity loans and HELOCs, offering flexibility for different borrowing needs. Customers benefit from competitive rates, relationship discounts, and a well-designed digital platform. Chase’s strong nationwide branch network makes it convenient for in-person assistance. Borrowers appreciate its financial education tools and budgeting resources. Loan limits vary based on creditworthiness and available equity, but Chase remains a trusted brand in the lending industry. It’s especially appealing for homeowners already banking with Chase who want seamless integration across financial accounts.
8. Figure
Figure is a fintech lender that leverages blockchain technology to speed up the home equity loan process. The entire application is online, and approvals can happen quickly compared to traditional banks. Borrowers benefit from competitive fixed rates and transparent fees. Figure’s streamlined process makes it ideal for tech-savvy homeowners seeking faster funding. While eligibility requirements can be strict, the convenience factor is a major advantage. If speed and digital efficiency matter most to you, Figure offers a modern alternative to conventional home equity lenders.
9. LoanDepot
LoanDepot is widely recognized for mortgage lending, but it also offers competitive home equity loan products. The lender provides personalized guidance through loan officers, which can be reassuring for first-time borrowers. Flexible term options and transparent pricing help borrowers make informed decisions. LoanDepot’s strong online tools simplify the application and tracking process. It’s particularly suitable for homeowners who want professional advice alongside digital convenience. With a national footprint and solid reputation, LoanDepot remains a reliable choice for tapping into home equity.
10. Navy Federal Credit Union
Navy Federal Credit Union serves military members, veterans, and their families with competitive home equity loan rates. As a member-focused institution, it often offers lower fees and favorable terms compared to traditional banks. Borrowers appreciate personalized service and flexible repayment options. While membership is required, eligible individuals can benefit from strong customer satisfaction and competitive pricing. Navy Federal is particularly attractive for service members seeking tailored financial solutions. If you qualify for membership, it’s one of the most cost-effective home equity loan lenders available.
Conclusion
Choosing the best home equity loan lender depends on your credit score, available equity, loan amount, and preferred application experience. Traditional banks offer stability and in-person support, while fintech lenders provide speed and convenience. Compare rates, fees, and repayment terms carefully before committing. By selecting the right lender, you can unlock your home’s value strategically and keep your long-term financial goals on track.