HELOC lenders, compared
No lender fits everyone. The right one gives you the lowest all-in rate.
- The lender that fits you is the one with the lowest all-in rate and the fewest fees for the draw terms you need.
- Compare the APR, the yearly cost of borrowing as a percent — not the teaser rate.
- Check the closing costs. Some lenders waive them; some do not.
- Look for any annual or inactivity fee, then add it to your total.
- The catch: a low headline rate can hide high closing costs or a yearly fee.
How to read this comparison
A HELOC is a credit line secured by your home. You draw from it, pay it down, and draw again. The lender makes money on the interest, and sometimes on closing costs or a yearly fee. So the number that matters is the all-in cost, not the rate on the ad.
Start with the row below that most people skip: your own bank or credit union. If you already bank there, they may waive fees or shave the rate. Compare that against the online lenders before you sign anywhere.
| Lender | Rate / fees | Funding | The catch |
|---|---|---|---|
| Your own bank or credit union Compare first | Variable APR, often $0 closing if you already bank there | 2–4 weeks | You have to ask. The waived-fee rate is rarely advertised. |
| Figure | Fixed-rate draws; origination fee up to 4.99% | ~5 days | Fast and fixed, but the origination fee is rolled in, so it raises your APR. |
| Bethpage Federal Credit Union | Variable APR; $0 closing costs on most lines | 3–5 weeks | Low fees, but you must join the credit union, and funding is slower. |
| Aven | Variable APR on a card-style line; no origination fee on many offers | ~7 days | It runs as a credit card against your home. Miss payments and the home is at risk. |
A closer look at each
Figure. Figure funds fast and offers fixed-rate draws, which makes your payment predictable. The tradeoff is an origination fee that can reach 4.99% of the draw. That fee is baked into the APR, so read the all-in number. Read the Figure review.
Bethpage Federal Credit Union. Bethpage waives closing costs on most lines, which lowers your all-in cost. You do have to become a member, and funding takes a few weeks. Read the Bethpage review.
Aven. Aven works like a credit card tied to your home equity. The access is flexible, and many offers skip the origination fee. But it is still debt secured by your home, so a missed payment carries the same risk as any HELOC. Read the Aven review.
A low teaser rate can carry high closing costs or a yearly fee. The headline number is not the cost of the loan.
Add the rate, the closing costs, and any annual or inactivity fee together. Compare that all-in figure across lenders. Our APR calculator does the math, and the cost breakdown shows every fee to watch for.