Top pick
LightStream
Best for same-day funding with rates from 7.49%.
Editorial marketplace rankingAdvertising disclosure
Best Home Equity Loan Rates
Tap your home's equity for a fixed-rate lump sum without refinancing your first mortgage.
Written by CompareBankLoans Editorial Team|Edited by Kellye Guinan|Reviewed by Research Team
Updated on April 2, 2026•6 min readExpert reviewed
Second-lien borrowingHEL and HELOC contextNo hard pull to compare
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Rate is only one part of the story
The right home equity page should force the borrower to weigh LTV, fees, and repayment structure together.
HEL and HELOC are different products
Borrowers need to see where a fixed-rate loan makes sense versus a revolving line of credit.
Collateral deserves clear explanation
Because the home is the backing asset, the page should make risk and closing costs easy to understand.
Ranked picks
Best Home Equity Loan Rates
Based on APR, fees, funding speed, and borrower fit. Advertising disclosure
Key takeaways
Worth comparing
Upstart and SoFi
Upstart stands out for next-day funding; SoFi stands out for same-day funding
Ranking lens
How this page is built
We compare fixed-rate home equity loans and HELOC-style borrowing separately.
Detailed lender breakdowns
See the representative offers side by side
The cards below show how each lender compares on offer range, borrower fit, and estimated borrowing cost before you personalize the quiz.
Representative ranking view
We may earn a commission when you click lender links. This does not affect our rankings or editorial fit scores.
Review the sample cards first, then personalize the quiz.
Top pick
Best for same-day funding
Soft credit check
LightStream
CompareBankLoans rating
Check Rate
on LightStream
Est. APR
7.49%–25.99%
Est. monthly
$1,112
Loan amount
$5K–$100K
Min. credit score
660
Rank 2
Best for next-day funding
Soft credit check
Upstart
CompareBankLoans rating
Check Rate
on Upstart
Est. APR
7.80%–35.99%
Est. monthly
$1,240
Loan amount
$1K–$50K
Min. credit score
300
Rank 3
Best for same-day funding
Soft credit check
SoFi
CompareBankLoans rating
Check Rate
on SoFi
Est. APR
8.99%–29.99%
Est. monthly
$1,179
Loan amount
$5K–$100K
Min. credit score
680
Want personalized matches?
The quiz tailors results to your credit, amount, and goals.
Methodology
How we chose these lenders
Home equity borrowing only makes sense when the structure is clear: fixed-rate lump sum for a large expense, or a separate line of credit if you need flexibility. Because the loan is secured by your home, lenders can price it lower than many unsecured alternatives, but closing costs, repayment length, and loan-to-value limits all matter. A strong rankings page should explain the difference between rate, fee load, and borrowing structure before the borrower starts personalizing their own profile.
Step 1
Rate is only one part of the story
The right home equity page should force the borrower to weigh LTV, fees, and repayment structure together.
Step 2
HEL and HELOC are different products
Borrowers need to see where a fixed-rate loan makes sense versus a revolving line of credit.
Step 3
Collateral deserves clear explanation
Because the home is the backing asset, the page should make risk and closing costs easy to understand.
Evaluation guide
What to look for in a loan offer
Loan-to-value ratio (LTV)
LTV is your total mortgage debt divided by the home's appraised value. Most lenders cap borrowing at 80 to 85% combined LTV, and a lower ratio usually earns better pricing.
Fixed vs. variable rate
Home equity loans carry fixed rates and fixed payments, which makes them easier to budget. A HELOC is usually variable and better for ongoing projects or uncertain draw schedules.
Closing costs
Closing costs of 2 to 5% can change the true cost by a lot. A lender with a slightly higher rate but lower upfront fees can be the better value for some borrowers.
Draw vs. repayment periods
HELOCs usually have a draw period followed by a repayment period. A home equity loan starts repayment immediately, so the page should make the timing tradeoff obvious.
Good signs
- Interest rates significantly lower than personal loans or credit cards
- Fixed rate and monthly payment for easy long-term budgeting
- Access to large loan amounts — up to $500,000 at some lenders
- Interest may be tax-deductible when funds are used for home improvement (consult a tax advisor)
- Doesn't disturb your existing first mortgage or its rate
Red flags
- Your home serves as collateral — defaulting puts it at risk
- Closing costs of 2–5% can add thousands to your borrowing cost
- Approval takes longer than a personal loan (2–6 weeks typical)
- Reduces the equity available if you later need to sell or refinance
- Not available to renters or those with little built-up equity