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Splash Financial: 2026 Home Equity Review

Written by

Linda Bell,

Edited by

Alice Holbrook

Expert verified

Updated on Feb 27, 2026

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NMLS: 1630038

Bankrate score

4.1

Our methodology

Customer score

0.0

Read reviews

SCORE BREAKDOWN

Affordability

5.0

Availability

3.4

Borrower experience

4.0

EDITOR'S TAKE

A newcomer to the home equity space, Splash Financial’s HELOC lets borrowers tap a relatively large chunk of their home equity — but its high initial draw requirements may be a dealbreaker for some.

PROS

• Borrow up to 90% of your property’s value
• Get cash in as little as 10 days after approval
• 100% digital application

CONS

• $100 annual fee after the first year
• Requires an initial draw of 75% or $75,000, depending the amount of the line
• Mobile notary and eSign may not be available in every state.

Affordability

5.0

Availability

3.4

Borrower experience

4.0

• Borrow up to 90% of your property’s value
• Get cash in as little as 10 days after approval
• 100% digital application

• $100 annual fee after the first year
• Requires an initial draw of 75% or $75,000, depending the amount of the line
• Mobile notary and eSign may not be available in every state.

Find competitive home equity rates near you

Splash Financial overview

Founded in 2013, Splash Financial is an AI-powered lending marketplace that helps consumers shop credit unions and banks. With its automated loan processing technology, it has originated over $6 billion in loans. It offers student loan refinancing and personal loans, and in September 2025, it expanded its business to include HELOCs.

HELOCs: Splash’s adjustable-rate HELOCs allow homeowners to access up to 90% of their property’s value, with loan amounts ranging from $25,000 to $500,000. The HELOC features a 10-year draw period and a 10 to 20-year repayment period.

How Bankrate scored Splash Financial

Affordability: 5 stars

Splash Financial earns a perfect 5 out of 5 for affordability, primarily due to its low rates.

APR: As of this writing, HELOC borrowers can qualify for a rate at Splash Financial that’s almost a full percentage point less than Bankrate’s average rate.
Fees: After the first year, you will be charged a $100 annual fee on your Splash HELOC.

Availability: 3.4 stars

Splash Financial earns 3.4 out of 5 for availability, reflecting its draw requirement and limited national reach.

Licensing: Splash Financial is licensed to provide HELOCs in 17 states and Washington, D.C.
Credit score: While requirements vary across Splash Financial’s lending partners, some will lend to borrowers with a score as low as 600.
Loan minimum: The typical minimum loan amount is $25,000, though it varies depending on Splash’s lending partners.
Draw requirement: For HELOCs of less than $100,000, you must make an initial draw of at least 75%. If your HELOC is at least $100,000, you must make an initial draw of at least $75,000.

Borrower experience: 4.0 stars

A combination of transparency and convenience helps Splash Financial earn a 4.0 rating for borrower experience — but note that customer support isn't available on weekends.

Rate transparency: Splash Financial advertises a low rate on its website. You can also get a customized rate by entering some basic information about the loan you want, provided you’re willing to share your contact details.
Customer service: Splash Financial doesn’t have physical branches, but there are multiple ways to contact the company. You can reach customer support at 1-800-349-3938, Monday through Friday, from 9 a.m. to 9 p.m. EST or borrower support at 1-877-357-5756, Monday through Friday, from 9 a.m. to 8 p.m. EST. The chat function is available Monday through Friday, from 10 a.m. to 8 p.m. EST. For general questions, you can also email contact@splashfinancial.com or servicing@splashfinancial.com. Note that, unlike many lenders, Splash doesn’t offer support on weekends.
Convenience: Splash claims its application takes only minutes and can be completed fully online.

How easy is it to contact Splash Financial?

When a tester called Splash during peak hours, a representative responded promptly to basic product questions.

Splash Financial’s reputation

With almost 1,900 reviews, Splash Financial gets a near-perfect 4.9-star rating on Trustpilot. The company has also been accredited by the Better Business Bureau since 2019 and holds an A+ rating.

A home equity loan or HELOC lets you borrow against the value of your home, while using your house as collateral. How much you can borrow depends on your home’s value and your outstanding mortgage, often expressed as your loan-to-value (LTV) and combined loan-to-value (CLTV) ratios. LTV is the amount of your mortgage compared to your home’s value, while CLTV includes all loans on the property.

If your home is worth $300,000 and you owe $150,000, your LTV is 50 percent. If you take out another $75,000 loan, your CLTV would be 75 percent. Typically, lenders allow you to tap up to 80 to 85 percent of your home’s value — so, in this case, you could borrow up to $105,000 — though some lenders go as high as 90 or 95 percent.

Knowing how much equity you can tap is just a part of the picture. Learn more about how to find the right home equity lender.

To determine a home equity lender’s Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender’s products and services. To assign our ratings, we assessed each mortgage lender across three core areas:
- Affordability: Annual percentage rate (APR) - 80%; introductory APR - 20%
- Availability: Licensing - 50%; credit score - 20%; loan minimum - 10%; draw requirement - 10%; loan products - 10%
- Borrower experience: Rate transparency - 35%; convenience - 35%; customer service - 20%; fixed-rate options - 10%
Learn more about our methodology.

Compare Splash Financial with other lenders

Selected lender Splash Financial NMLS: 1630038 Bankrate score 4.1 Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score. Customer score N/A Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.	Bankrate score Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score. Customer score Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months. Read review	Bankrate score Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score. Customer score Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months. Read review
Loan amount
$25,000 - $500,000
Min. credit score required
As low as 600
Repayment terms
10-year draw period, 10- or 20-year repayment period
Funds available in
As little as 10 days after approval
Recent customer review
Customer review No reviews available yet. N/A

To help you make the most informed decisions, our home equity lender reviews team suggests an alternative home equity lender for each lender reviewed. In most cases, this alternative 1.) shares the same strength (affordability, availability or borrower experience) as the lender reviewed; and 2.) rates highly for Bankrate Score. In the event more than one lender meets these standards, we suggest the one with the higher Bankrate Score.

Splash Financial customer ratings and reviews

NMLS: 1630038

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Knowledge

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Splash Financial: 2026 Home Equity Review

4.1

0.0

Score breakdown

Editor's take

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