Best HELOC Rates and Lenders in Ohio (2024)

Lower is the best HELOC lender in Ohio for homeowners looking to leverage their home equity. Its APR ranges from 8.75% to 13.5%, suitable for various financial situations. It provides flexibility for different needs with loan amounts from $15,000 to $500,000. Its minimum credit score requirement of 580 opens doors for a wider range of homeowners. Transparency is a hallmark, as clear information is available on its website. This lender has no annual fees and has personalized support post-application. Homeowners can benefit from the accessible terms from Lower while tapping into their home equity.

Aven is a standout choice for homeowners in Ohio seeking affordability in a HELOC. Aven’s product acts like a credit card backed by your home's equity, but it's reported as a HELOC to credit bureaus. Ohio homeowners benefit from competitive APRs ranging from 7.99% to 15.49%, with the added advantage of no annual fees and a 0.25% rate discount when setting up autopay. These features can lead to considerable cost savings without worrying about early closure penalties or origination fees.

U.S. Bank is the top pick for Ohio homeowners with bad credit seeking a HELOC. While bad credit doesn’t mean you're ineligible for a HELOC, it often leads to higher rates. U.S. Bank considers a wide range of borrowers with a minimum credit score requirement of 660. It offers a maximum APR of 13.1%, ensuring your rates don't skyrocket. Additionally, there is a 0.5% rate discount for setting up autopay. These features can make managing your home equity line more affordable. U.S. Bank is accredited by the BBB, though it currently does not have a rating.

Bank of America is the top lender for homeowners in Ohio looking for large loan amounts. Homeowners who need funds to make big investments can use a HELOC for expenses like home renovations or higher education. Bank of America offers a maximum loan amount of $1 million for most areas, a 10-year draw period and a 20-year repayment period. This means you have time to repay what you borrow without worrying about an annual fee. Plus, it includes a 6.99% introductory rate for the first six months and multiple discounts. Bank of America also provides assistance if you hit a rough patch financially.

PNC Bank is the preferred HELOC lender in Ohio for homeowners looking to consolidate high-interest debts like credit card balances and personal loans. With an APR range of 8.22% to 14.5%, it offers competitive rates that are likely lower than those of your existing debts. Homeowners can borrow up to $1 million and access funds within three days after closing, ensuring ample capacity to combine balances. Additionally, PNC Bank supports borrowers with an online application tracker and provides assistance during financial challenges.