7 Best Home Equity Loans of April 2025

Home equity loans and HELOCs are valuable tools for homeowners looking to tap into their equity for various financial needs. These loans allow you to borrow against the value of your home, providing funds for home improvements, debt consolidation, or other expenses. If you’re considering a home equity loan, it’s essential to choose a reputable lender with favorable terms and rates.

Here are some of the best home equity lenders currently on the market:

1. PNC Bank:
   • Pros: Highest overall score, up to 90% LTV, low credit score minimum, high loan amounts, low intro rate.
   • Cons: No home equity loans, in-person appraisal required, not available in all states.
   • Highlights: HELOC, maximum loan amount of $1 million, terms up to 30 years, fixed and variable rates starting at 6.49%.
2. Figure:
   • Pros: Low fixed rates, several term options, low credit score requirements, fast funding time.
   • Cons: Not available in all states, relatively low maximum loan amount, LTV could be higher.
   • Highlights: HELOC, maximum loan amount of $400,000, maximum LTV of 85%, fixed rates starting at 7.25%.
3. Discover:
   • Pros: Low interest rates, several term options, high LTV maximum, no in-person appraisal required, no origination fees.
   • Cons: Not available in all states, high credit score minimum.
   • Highlights: Home equity loans, maximum loan amount of $500,000, maximum LTV of 90%, fixed rates starting at 7.81%.
4. Connexus Credit Union:
   • Pros: No in-person appraisal required, low interest rates and credit score minimum, long draw period on HELOCs, high LTV maximum.
   • Cons: Not available in all states, requires credit union membership.
   • Highlights: Home equity loans and HELOCs, maximum loan amount varies, maximum LTV of 90%, terms up to 15 years.
5. Navy Federal:
   • Pros: Offers both home equity loans and HELOCs, long draw period on HELOCs, high maximum LTV, several term options, no closing costs.
   • Cons: Only available to military members and certain government employees, high credit score requirement, no 30-year home equity loan options.
   • Highlights: Home equity loans and HELOCs, maximum loan amount of $500,000, maximum LTV of 95% to 100%, terms up to 20 years.

     These lenders stand out for their competitive rates, flexible terms, and borrower-friendly features. Whether you’re looking for a HELOC or a home equity loan, these top picks can help you access the cash you need while leveraging the equity in your home.