The best in home equity

Alliant Credit Union scores highly for its home equity lines of credit (HELOCs), which come with few to no closing costs if under $250,000, a low minimum loan amount requirement and often competitive introductory APRs. The credit union is relatively easy to join compared to others with stricter membership criteria, too.

BMO Bank scores high marks for offering both HELOCs and home equity loans, plus the ability to lock in your line of credit balance at a fixed rate. The bank also covers many closing costs, making it even more affordable to tap your home equity.

Rate offers the convenience and ease of an entirely-online HELOC origination process, with a quick application and funding process. The lender’s HELOCs are also available to qualified borrowers throughout much of the U.S.

RenoFi delivers on its mission to connect homeowners with remodeling financing, allowing you to borrow up to 150 percent of the home’s current value or up to 90 percent of the home’s after-renovation value. It boasts a high loan maximum as well, making it ideal for larger-scale projects.

Bethpage Federal Credit Union is a winner when it comes to out-of-pocket costs: It doesn’t charge any closing costs, including origination, appraisal, application or fixed-rate conversion fees. 

Fifth Third’s lower minimum credit score requirement of 640 makes the bank ideal for homeowners looking to take advantage of their asset even with less-than-perfect credit. In addition, the bank is known for more competitive rates and no closing costs on home equity products.

Not your typical home equity lender, Aven allows you to tap your home equity with the convenience of a Visa card, giving you a higher limit than what you might get approved for with a regular card. The issuer doesn’t require a high minimum loan amount, either, and also offers a cash back benefit.