Best HELOC Rates and Best HELOC Lenders in Idaho (2024)

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Updated: July 26, 2024

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The best home equity line of credit (HELOC) lender in Idaho is Lower. With this lender, homeowners can access funds ranging from $15,000 to $500,000 at APRs from 8.75% to 13.50%. It serves customers online and requires a minimum credit score of 580 to qualify.

MoneyGeek analyzed 11 HELOC lenders in Idaho and considered several factors beyond cost when picking the top lender in the state. More options are available, but we didn't include them in this analysis. Local lenders worth considering for their distinct offers are Idaho Central Credit Union, Frontier Credit Union and Idaho Housing and Finance Association.

Best HELOC Lenders in Idaho

Best Overall: Lower

Best for Affordability: Aven

Best for Bad Credit: U.S. Bank

Best for Large Loan Amounts: Bank of America

Best for Debt Consolidation: PNC Bank

MoneyGeek evaluated Idaho HELOC lenders against a rubric that included APR ranges, annual fees and affordability, among other criteria.

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Our analysis was completed in July 2024 and includes lenders that do business in Idaho.

11Lenders Analyzed

    Overall Best HELOC Lender in Idaho

  • Lower
    • 8.75% to 13.5%APR Range
    • $15,000 to $500,000Loan Amount Range
    • 580Minimum Credit Score
    • 10-year draw period; undisclosed repayment period Repayment Terms
    • NoneAnnual Fees

    Lower is the top HELOC lender in Idaho. It appeals to a broad customer base with APRs ranging from 8.75% to 13.5%. It is ready to serve homeowners by offering loan amounts from $15,000 to $500,000. Moreover, its minimal credit score requirement is 580, making HELOCs accessible to more people. Accessibility underscores its service, as evidenced by easy access to loan details and personalized post-application support. Lower embodies transparency and customer focus, aligning with the needs of Idaho homeowners looking to leverage their home equity.

    Pros

    • No annual fee
    • Accepts credit scores from 580
    • Offers personalized post-loan support

    Cons

    • No rate discounts offered
    • No fixed-rate HELOC conversion
    • Unclear repayment period length
    Lower

HELOC Rates in Idaho by Credit Score

Your home equity line of credit (HELOC) APR hinges on factors like credit scores and loan-to-value ratios. Idaho residents with stellar credit and LTVs under 80% might see varied rates based on their chosen repayment terms. Reference our table to gauge how different options could affect your rates.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% or lower
HELOC (10 year)APR7.19%
HELOC (15 year)APR7.19%
HELOC (20 year)APR7.19%

Where does this data come from?

When searching for a HELOC in Idaho, comparing APRs from different lenders is smart. This rate directly impacts your monthly payments and the total cost of borrowing. Finding a lower APR can mean more affordable payments and less strain on your budget over the life of your line of credit.

HELOC Calculator: Do You Qualify in Idaho?

According to Experian, Idaho's average credit score is 729, which suggests residents are well-positioned for HELOC approval. Higher home equity can also lead to more borrowing power.

Eligibility for a HELOC in Idaho leans on factors like home equity and credit score, among others. Use the provided HELOC calculator to gauge eligibility by adjusting related variables. This tool simplifies the hunt for a suitable HELOC offering.

HELOC Calculator
Discover borrowing capacity, interest rates, and make informed financial choices with confidence!
You may be eligible for a HELOC. Because you have an LTV at or below 85%, you may be approved for a home equity line of credit.
10 Years Payoff Scenario
$732/mo
Eligible to Borrow
$62,500
Loan-to-Value Ratio
80%
Note: Lenders set varying limits on the acceptable Loan-to-Value (LTV) ratio, depending on the property type (owner-occupied or investment). Typically, owner-occupied homes have a higher acceptable LTV, often capped at 85%.

    Best HELOC Lender in Idaho for Affordability

  • Aven
    • 7.99% to 15.49%APR Range
    • Up to $250,000Loan Amount Range
    • 620Minimum Credit Score
    • Unlimited draw period; 5 to 10-year repayment period for cash out;Repayment Terms
    • NoneAnnual Fees

    Aven is the top pick for Idaho homeowners seeking cost-effective HELOC solutions. It stands out with its competitive APR range of 7.99% to 15.49%. Aven's product is a hybrid HELOC in that it functions like a credit card backed by your home's equity but is reported as a HELOC to credit bureaus. Homeowners can avoid yearly charges with no annual fees. Additionally, signing up for autopay can result in a 0.25% rate discount, further reducing costs over the loan's life. With these features, Aven can provide significant savings for homeowners prioritizing affordability.

    Pros

    • Credit card backed by home equity
    • Unlimited 2% cash back on purchases

    Cons

    • Line limit up to $250,000 only
    • One-time 2.5% cash out fee
    • Card delivery takes 10 days
    Aven

How does MoneyGeek recommend lenders for affordability?


    Best HELOC Lender in Idaho for Bad Credit

  • U.S. Bank
    • 8.95% to 13.1%APR Range
    • $15,000 to $750,000Loan Amount Range
    • 660Minimum Credit Score
    • 10-year draw period; up to 20-year repayment periodRepayment Terms
    • Up to $75Annual Fees

    U.S. Bank is the best HELOC lender for Idaho homeowners with bad credit. Even with a credit score as low as 660, you can get a home equity line of credit between $15,000 and $750,000. The lender's APR ranges from 8.95% to 13.1%, more manageable than high-interest alternatives. The bank also offers a 0.5% discount on rates when you opt for autopay. U.S. Bank is accredited by the BBB, though it currently does not have a rating. These features support homeowners in Idaho who may face financial obstacles, offering a stable and more accessible line of credit.

    Pros

    • No closing costs
    • Online prequalification option
    • Interest-only payments available

    Cons

    • Closing must be done in person
    • Charges an annual fee of $75
    • No financial hardship assistance
    U.S. Bank

How does MoneyGeek recommend lenders for those with bad credit?


    Best HELOC Lender in Idaho for Large Loans

  • Bank of America
    • Starting at 9.82%APR Range
    • $25,000 to $1,000,000Loan Amount Range
    • UndisclosedMinimum Credit Score
    • 10-year draw period; 20-year repayment periodRepayment Terms
    • NoneAnnual Fees

    Bank of America is the top lender for large loan amounts in Idaho. HELOCs offer a flexible way to fund high-cost needs like home renovations or education expenses. With a maximum loan amount of $1 million, homeowners have plenty to work with. It also provides generous repayment terms — a 10-year draw period and a 20-year repayment period — offering time to handle the borrowed amount comfortably. Moreover, it doesn't charge an annual fee, which keeps costs down over the life of the loan.

    Pros

    • Competitive introductory rate for six months
    • Multiple discounts available
    • No application, annual or closing fees

    Cons

    • Minimum online loan amount of $25,000
    • Must close in person
    • Early closure fee of $450
    Bank of America

How does MoneyGeek recommend lenders for large loan amounts?


    Best HELOC Lender in Idaho for Debt Consolidation

  • PNC Bank
    • 8.22% to 14.5%APR Range
    • $10,000 to $1,000,000Loan Amount Range
    • UndisclosedMinimum Credit Score
    • Undisclosed draw period; 5-30 year repayment periodRepayment Terms
    • $50Annual Fees

    PNC Bank is the top HELOC lender in Idaho for consolidating high-interest debts like credit card and personal loan balances. Using a HELOC from PNC can be smarter than high-interest options because it typically has lower interest rates and provides funds swiftly, three days after closing. The lender also offers a considerable loan amount of up to $1 million, which could cover significant debt. With rates ranging from 8.22% to 14.5% and the potential to switch between variable and fixed rates, it adapts to your needs. In addition, you can get a 0.25% rate deduction with autopay from a PNC Bank checking account. It even offers financial hardship assistance, signaling a commitment to support you.

    Pros

    • Loan amounts of up to $1 million
    • 0.25% rate reduction with autopay
    • Online application tracking

    Cons

    • Charges a $50 annual fee
    • Charges a late fee
    • Does not disclose most information
    PNC Bank

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in Idaho

MoneyGeek has highlighted the top HELOC lenders in Idaho. If you're seeking alternatives, this guide outlines strategies for sifting through HELOC options, ensuring a tailored fit for your financial goals.

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    Clarify the Purpose of Your HELOC

    Knowing why you need a HELOC will guide you to the right Idaho lender. Home improvements may have different terms compared to debt consolidation. Consider how you plan to use the funds to find a lender with terms that match your goals.

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    Check Lender Reputation

    Assess a lender's reliability through the Better Business Bureau and the Idaho Department of Finance. These agencies ensure the lender you choose in Idaho operates legally and ethically.

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    Compare Rates and Fees

    Dig into loan details by comparing rates and fee structures, including closing costs, without relying on comparison sites. Idaho lenders vary, so reviewing terms yourself ensures you find a competitive HELOC offer.

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    Gauge Community Standing

    Receiving community awards signals a lender's service quality and reputation in Idaho. Seek feedback from local homeowners to gauge satisfaction levels with potential HELOC lenders.

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    Assess Lender Flexibility

    Lenders in Idaho with options like interest-only payments, the ability to convert a variable rate to a fixed-rate HELOC and straightforward online prequalification reflect adaptability to your needs.

FAQ: HELOC Lender and Rates in Idaho

Choosing a HELOC lender in Idaho doesn't have to be a complex process. These commonly asked questions provide the key aspects of the process, from rates to lender reliability, assisting you in finding the right match for your financial needs.

What’s a good HELOC rate in Idaho? What are the best HELOC rates in Boise?
Which HELOC lender is best overall in Idaho?
Can I still qualify for a HELOC in Idaho if I have bad credit?
Which HELOC lender in Idaho is best for large loans?
Can I use a HELOC to consolidate debt?
How can I ensure I find the right HELOC lender in Idaho for me?

About Zachary Romeo

Zachary Romeo headshot

Zachary Romeo is the Head of Loans and Banking at MoneyGeek, with over 10 years of experience and forthcoming certification as a Commercial Banking and Credit Analyst (CBCA). Previously, he led production teams for some of the largest online informational resources in higher education.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt through people-first content.

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