A HELOC can be used for home improvements, debt consolidation, emergency funds, education and more. It’s best for borrowers with substantial home equity.
Regular HELOC rates can be as low as .99% and go up to 18%. Overall, the best HELOC lender in the District of Columbia is Bank of America, offering an APR of 4.35% variable. When applying for a HELOC, MoneyGeek recommends comparing home equity line of credit rates to find the lender that best fits your needs.