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Best HELOC Lenders
BRAND PASS · U.S. home equity borrowing
Best HELOC Lenders
Put your home equity into a carefully planned next step.
Explore Figure’s Home Equity Line of Credit, SoFi HELOC options or participating lenders through LendingTree. Compare how funds are accessed, how rates work and what you will repay.
For eligible U.S. borrowers and properties. A HELOC is secured against your home; missed payments can lead to foreclosure.
About this comparison: BRAND PASS covers three selected services, not the whole market. “Best” depends on your needs; these are not ranked or independently rated. Links currently go to official company websites and are not affiliate links. BRAND PASS does not lend money or provide personal financial advice. External links open in a new tab.
Find the structure that suits your plan
Three starting points. Different borrowing experiences.
The HELOC label does not tell you everything. Compare initial funding, later draws, fees and repayment rules alongside the rate.
Figure Home Equity Line of Credit
Explore Figure’s online home equity line.
- Figure describes a fixed-rate initial draw.
- The full amount, minus the origination fee, is funded at origination.
- An additional-draw feature is available under the product’s conditions.
Understand the structure: Do not assume you can leave most of the initial line unused. Ask about origination fees, net funds received, repayment and the pricing of subsequent draws.
Explore Figure HELOC ↗
Confirm the exact product and terms offered to you.
SoFi HELOC Options
Explore home equity borrowing through SoFi.
- Review SoFi’s dedicated HELOC information.
- Its current disclosure describes a variable rate that may rise.
- Confirm whether SoFi or a partner originates your offer.
Understand the provider: SoFi says it may lend directly or assist with a Spring EQ loan. Ask who sets and services your terms, and check fees, minimum draw rules and availability.
Explore SoFi HELOC options ↗
Review current product and state restrictions.
LendingTree HELOC Comparison
Explore participating HELOC lenders in one marketplace.
- Compare available lender matches.
- Ask about fixed or variable rate options.
- Compare fees, draw requirements and repayment schedules.
Understand the process: LendingTree does not make the loan. Matches depend on your profile and lender availability. Review data-sharing and contact consent terms before submitting.
Explore LendingTree HELOCs ↗
Confirm requirements with each matched lender.
Compare how each option works.
Use this overview to choose where to explore. Your loan agreement determines the actual funding and repayment terms.
| Option | Rate & access | What to confirm |
|---|---|---|
| Figure | Fixed-rate initial funding; full initial amount drawn, less the origination fee | Net proceeds, payment schedule and additional-draw terms |
| SoFi | Current HELOC disclosure describes variable-rate pricing | Actual originating lender, draw rules, fees and rate-adjustment terms |
| LendingTree | Rate and access depend on the matched lender’s product | Compare like-for-like offers and review contact consent |
Match the product to the spending plan: If you need funds in stages, ask whether the lender requires a substantial initial draw. If you need a lump sum, compare the cost and repayment of the full funded balance.
Equity is not the same as available credit
How much could you potentially borrow?
Home equity is your home’s value minus debt secured against it. A lender may limit total secured borrowing to a percentage of the valuation, then assess your financial profile.
Illustrative home value
$500,000, with an existing mortgage balance of $300,000 and no other secured debt.
Assumed combined limit
At a hypothetical 80% combined loan-to-value limit, total secured borrowing would be $400,000.
Potential line before fees
$400,000 minus $300,000 = $100,000, subject to lender approval and other requirements.
Example only: The 80% limit is an assumption, not a published limit for Figure, SoFi or LendingTree lenders. Valuation, other liens, credit, income and product rules can change the amount available. Fees and draw requirements can change net cash received.
Check the payment now—and later.
Rate structure
For variable rates, ask about the index, margin, caps and any introductory period. For fixed-rate borrowing, check what is fixed and whether later draws receive a new rate.
Fees & net funds
Request the origination fee, appraisal and other closing charges, plus any annual, inactivity, redraw or early-closure fees. Ask whether fees reduce your proceeds or are added to borrowing.
Repayment rules
Confirm when principal repayment starts, what happens when the draw period ends and whether payments may increase. Do not assume every HELOC is interest-only during its draw period.
Plan for both loans: A HELOC typically adds a separate secured obligation alongside an existing mortgage. Budget for both payments. If using it to repay unsecured debts, remember you are moving that borrowing onto your home.
HELOC questions, answered.
What is a HELOC?
A home equity line of credit is borrowing secured against your home. Access to funds, rate changes and repayment depend on the agreement. Many HELOCs have a draw period followed by repayment, but product structures vary.
Does Figure work like a traditional draw-as-needed HELOC?
Figure’s fixed-rate product disclosure says the full initial amount, minus the origination fee, is funded at origination. It also has an additional-draw feature. Review the specific draw and repayment conditions rather than assuming funds remain unused until needed.
Is SoFi’s HELOC fixed or variable?
SoFi’s current HELOC disclosure describes a variable rate that can increase after origination. Confirm the exact rate structure in your offer, including any partner-originated product.
Does LendingTree provide the credit line?
No. LendingTree is a marketplace. A matched lender sets the offer, assesses your application and provides the credit line.
Does a HELOC replace my existing mortgage?
Typically it is an additional loan secured by your home rather than a replacement first mortgage. Confirm the lien position and structure with the lender. A cash-out refinance replaces the existing mortgage.
Can my HELOC payment increase?
Yes, depending on the product. Variable rates, additional draws or a change in repayment requirements can increase payments. Ask for examples of payments during and after the draw period.
Is a HELOC the same as a home equity loan?
A home equity loan usually provides a lump sum under an installment repayment schedule. A HELOC is a line of credit, although its initial funding can also be a lump sum. Compare the actual contract, not just the product label.
Are these products available for UK homes?
This page covers U.S. home equity services for eligible borrowers and properties. It is not a comparison of UK secured loan products.
Explore with a clear borrowing plan
Find the HELOC structure that fits your needs.
Review Figure, explore SoFi’s options or compare participating lenders through LendingTree. Check funding, rates, fees and repayment before applying.
Continue on the provider’s website. This page does not collect credit applications or personal financial information.
Related comparison: Explore mortgage refinancing and cash-out options.
Sources: Figure product disclosures · SoFi HELOC disclosures · LendingTree HELOC information · CFPB HELOC explanation · CFPB HELOC guide. Information checked 8 October 2026. Terms can change.
General information only, not personalized financial advice. Approval, rates and availability are not guaranteed. Your home secures the borrowing; missed payments can lead to foreclosure.