Best HELOC Rates and Best HELOC Lenders in Kansas (August 2024)

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Updated: August 20, 2024

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The best home equity line of credit (HELOC) lender in Kansas is Lower. It serves homeowners preferentially online, with an APR range spanning 8.75% to 13.5%, and allows loans between $15,000 and $500,000. MoneyGeek's methodology assessed various lenders, focusing on more than just cost to determine the top pick.

MoneyGeek analyzed 11 HELOC lenders for Kansas homeowners. While there are additional lenders in the state, not all were included in this review. Kansas homeowners can also explore local options like KState Credit Union, Credit Union of America and DCU, each providing distinctive services that may suit different needs.

A Summary of the Best HELOC Lenders in Kansas

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

We evaluated each lender in our research against a rubric, including APR ranges, annual fees and affordability, among others.

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Our analysis was completed in August 2024 and includes lenders that do business in Kansas.

11Lenders Analyzed

    Best HELOC Lender Overall

  • 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

    In Kansas, Lower is the top pick for a HELOC lender. With an APR range from 8.75% to 13.5%, it offers a loan amount range between $15,000 and $500,000, meeting diverse financial needs. Homeowners can access funds while meeting Lower's minimum credit score of 580, which is more accessible compared to many lenders. Additionally, it stands out for not charging an annual fee and maintaining an A+ rating from the Better Business Bureau, reflecting strong customer trust and service standards. Plus, it provides personalized support post-application, making it easy for homeowners to navigate their HELOC.

    Pros

    • Accepts credit scores from 580
    • Provides personalized post-loan support
    • A+ rating from the BBB

    Cons

    • No rate discounts offered
    • No fixed-rate HELOC conversion
    • Repayment period undisclosed
    Lower

HELOC Rates in Kansas by Credit Score

Homeowners exploring a HELOC will find the APR can vary. In Kansas, a good credit score and loan-to-value (LTV) ratio under 80% can affect offers, as rates shift with different repayment terms. Review the table to gauge how your rate adjustments reflect such parameters.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% - 95%
HELOC (10 year)APR6.79%
HELOC (15 year)APR6.79%
HELOC (20 year)APR6.79%

Where does this data come from?

When you're borrowing with a HELOC, comparing annual percentage rates (APR) from different Kansas lenders can save you money. A lower APR means less interest over time, making your loan more affordable. Take the time to shop around; the right APR can make your repayment experience smoother and lighter on your wallet.

HELOC Calculator: Do You Qualify in Kansas?

If you own a home, you may have equity that you can tap into for a loan. The higher your home equity, the more you might be able to borrow. In Kansas, the average credit score is 723, according to Experian. If yours is around this, you're likely set to get a HELOC.

Your chance to secure a HELOC hinges on multiple factors, with equity and credit score being just two. Use the HELOC calculator to see where you stand. Adjusting variables can offer insights, helping your search for the right HELOC.

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 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 best HELOC lender in Kansas for homeowners seeking cost savings. It offers a competitive APR range of 7.99% to 15.49%, with no annual fees or prepayment penalties. Aven's product acts like a credit card backed by your home's equity and gets reported as a HELOC to credit bureaus. Not only can you enjoy a 0.25% rate reduction for setting up autopay, but its absence of origination fees can make it a more affordable option, keeping more money in your pocket.

    Pros

    • Credit card backed by home equity
    • Unlimited 2% cashback
    • No origination or annual fees

    Cons

    • Line limit up to $250,000 only
    • 2.5% cash-out fee to bank
    • Card arrives in 10 days
    Aven

How does MoneyGeek create this recommendation?


    Best HELOC Lender 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

    For homeowners in Kansas with bad credit, U.S. Bank is a solid choice for a HELOC. Bad credit isn't a dealbreaker here. U.S. Bank's minimum score is 660, and the APR ranges from 8.95% to 13.1%. Plus, it offers a 0.5% discount for autopay. U.S. Bank also provides a chance to lock in a fixed rate on a portion of your balance, a feature that could help manage loan payments predictably. U.S. Bank is accredited by the BBB, though currently does not have a rating. These features make it easier for Kansas homeowners to handle a HELOC, even with less-than-perfect credit.

    Pros

    • Offers a fixed-rate option
    • No closing costs
    • Minimum line amount of $15,000

    Cons

    • Must close in person at a bank branch
    • Early closure fee up to $500
    • Undisclosed customer service hours
    U.S. Bank

How does MoneyGeek recommend lenders for those with bad credit?


    Best HELOC Lender 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 pick for Kansas homeowners seeking sizeable HELOCs. This lender supports high-cost needs with a maximum loan amount of up to $1 million. The benefits extend to repayment flexibility, offering a 10-year draw period coupled with a 20-year repayment period, allowing homeowners ample time to manage their finances.

    Bank of America stands out with a wealth of benefits like an initial 6.99% competitive introductory rate and discounts that can reduce costs. Homeowners won't face an annual fee, application fee or closing costs, making it a cost-effective choice for borrowing large sums. Additionally, in challenging times, this lender provides hardship assistance, ensuring support when it's needed the most.

    Pros

    • Competitive intro rate for six months
    • Offers multiple discounts
    • High maximum loan amount

    Cons

    • Closing must be done in person
    • Early closure fee of $450
    • Undisclosed HELOC minimum requirements
    Bank of America

How does MoneyGeek recommend lenders for large loan amounts?


    Best HELOC Lender 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

    For Kansas homeowners looking to merge high-interest debts like credit card balances or personal loans, a HELOC offers a smarter path. The right lender provides lower interest rates, swift fund access and ample borrowing limits. PNC Bank excels in these areas, with rates from 8.22% to 14.5% and a loan range hitting the $1 million mark, offering financial flexibility. Features like the ability to switch rate types, a 0.25% discount for autopay enrollment and repayment of specific closing costs after three years make it a standout. It couples these benefits with tools like an application tracker and hardship support, bringing homeowners a comprehensive debt consolidation tool.

    Pros

    • Switches between variable and fixed rates
    • Borrow up to $1 million
    • Online document upload and tracking

    Cons

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

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in Kansas

MoneyGeek has spotlighted top HELOC lenders in Kansas. If you're weighing alternatives, these strategies will streamline your hunt for the right fit, ensuring you navigate the options with confidence.

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    Define Your HELOC Purpose

    Start with your goal for the HELOC in Kansas. Whether it's for home renovations, debt consolidation or another need, the right lender will offer terms tailored to your plans.

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    Check Lender Credibility

    Verify lender reputation through the Better Business Bureau and the Kansas Office of the State Bank Commissioner. Trustworthy institutions have clear records and positive feedback.

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    Compare Rates and Fees

    Look beyond rates. Compare loan features like closing costs among Kansas lenders. This includes application fees and penalties alongside annual percentage rates.

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    Assess Community Standing

    Consider a lender's community reputation in Kansas, such as local awards, which reflect commitment to customer service and satisfaction.

    loanReview icon

    Gauge Lender Flexibility

    Choose lenders that demonstrate flexibility like offering interest-only payments or converting variable rates to a fixed-rate HELOC. Prequalification online is a plus.

FAQ: HELOC Lenders and Rates in Kansas

Navigating the choices for a HELOC lender in Kansas can seem overwhelming. These frequently asked questions aim to demystify the selection process, providing clear, concise insights to assist borrowers in matching their needs with the right lender, ensuring a smart financial move.

What’s a good HELOC rate in Kansas? What are the best HELOC rates in Wichita?

A competitive HELOC rate in Kansas is typically around 6.52%. The best HELOC rates in Wichita likely mirror the best HELOC rates in Kansas, reflecting state trends, and often require an LTV ratio of 80% or lower, and a credit score of 680-740. Rates may vary by credit worthiness and lender chosen.

Which HELOC lender is best overall in Kansas?

Lower is considered the best overall HELOC lender in Kansas due to its competitive APR range of 8.75% to 13.5%, a loan amount range from $15,000 to $500,000 and a minimum credit score requirement of 580. These factors make Lower a significant option for a broad range of homeowners seeking a HELOC.

Can I still qualify for a HELOC in Kansas if I have bad credit?

Yes, it's possible to qualify for a HELOC in Kansas even with bad credit. For example, U.S. Bank offers HELOCs for those with a minimum credit score of 660, which is considered on the lower end of credit scores.

Which HELOC lender in Kansas is best for large loans?

Bank of America stands out for large loans in Kansas, specifically for major expenses like home renovation or investing in property. The lender provides a generous loan amount range up to $1,000,000 and a 20-year repayment period with no annual fees, making it attractive for substantial financial needs.

Can I use a HELOC to consolidate debt?

Yes, using a HELOC for debt consolidation is possible. When selecting a HELOC for this purpose, consider factors like the APR range, which for PNC Bank is from 8.22% to 14.5%, and the time it takes to receive funds, which is three days after closing. These terms can impact the cost-efficiency and speed of consolidating your debts. Make an informed decision by understanding the HELOC pros and cons before securing one.

How can I ensure I find the right HELOC lender in Kansas for me?

Finding the right HELOC lender in Kansas hinges on knowing your intended use for the HELOC and understanding your financial situation. Different needs, such as debt consolidation or home improvement, and financial profiles mean that the best lender for one homeowner might not be the best for another.

About Zachary Romeo, CBCA

Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

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

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