The Best HELOC Rates and Lenders in Kansas

A home equity line of credit (HELOC) is a revolving credit line that borrowers can use to pay for expenses in a smart and flexible way. It uses your home as collateral, so you’ll want to make your payments on time.

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HELOCs are commonly used for repairs, education, investments, debt repayment and more. MoneyGeek recommends you shop around and research several lenders before applying for a HELOC to discover the best option for your needs.

HELOC rates start at a special promotional variable APR of 0.99% for six months and can go as high as 18% after that. Because of its low interest rates and incentives, MoneyGeek determined that Bank of America is the best overall HELOC lender in Kansas.

Home Equity Line of Credit (HELOC) Rates for 2023

It is important to evaluate rates and terms from many lenders when shopping for a HELOC. This way, you can choose the best option for your needs.

As of May 2022, the MoneyGeek table below summarizes home equity line of credit rates and relevant lender information. We update this table regularly since this information can change at any time.

  • Lender
    APR
    Loan Amount
    Min. Credit Score Requirement
    Repayment Terms
    Annual Fees
    Pre-Approval Time
  • 3.75% to 18%

    $25,000 to $1,000,000

    660

    10-year draw period
    and 20-year repayment period

    None

    N/A

  • Not specified

    Not specified

    Not specified

    Not specified

    Not specified

    Not specified

  • 1.99% special
    introductory variable
    APR for 6 months,
    then as low as
    4.35% variable

    $25,000 to $1,000,000

    Not specified

    10-year draw period,
    20-year repayment period

    Not specified

    Not specified

  • 3.65% to 8.80%

    $15,000 to $750,000

    730

    10-year draw period,
    unspecified repayment period

    $90

    Not specified

  • 4.65% to 9.99%

    $35,000 to $300,000

    620

    10 to 30 years

    None

    1 to 2 weeks

  • Starting at 3.99%

    $10,000 to $500,000

    Not specified

    10-year draw period
    and 20-year repayment period

    $75

    Not specified

  • Starting at 4.64%

    $10,000 to $500,000

    Not specified

    10-year draw period
    and 20-year repayment period

    None

    24 hours

  • Starting at 3.50%

    $15,000 to $400,000

    620

    5 to 30 years

    3% to 4.99%

    24 hours

  • Starting at Prime - 0.50%

    Starting at $17,500

    Not specified

    10-year draw period,
    15-year repayment period

    $50

    Not specified

  • Starting at 3.34%

    Starting at $25,000

    740

    Not specified

    $50

    Not specified

  • 3.49% for 6 months
    (4.08% thereafter)

    Starting at $5,000

    Not specified

    15-year draw period
    with 15-year repayment period

    None

    24 hours

  • 3.75% to 10.63% variable

    $10,000 to $500,000

    Not specified

    10-year draw period,
    and then 20 years for repayment

    None

    Not specified

MoneyGeek’s Picks for Best HELOC Lenders in Kansas

Unfortunately, there are not many lenders that provide HELOCs. Those that do are primarily national banks.

MoneyGeek has outlined Kansas' top home equity line of credit lenders to assist you in choosing the best option for your needs and requirements. Our goal is to help you, as a consumer, find the right option. If a national lender rejects your HELOC application, MoneyGeek suggests considering local credit unions as an option.

Best Overall HELOC Lender in Kansas: Bank of America


  • Bank of America

    Bank of America is the leading HELOC lender in Kansas thanks to its lack of fees.


    • 1.99% special introductory variable APR for 6 months, then as low as 4.35% variableAPR Range
    • $25,000 to $1,000,000Loan Amount Range
    • 10-year draw period; 20-year repayment periodRepayment Terms
    • NoneAnnual Fees
    • Not specifiedPre-Approval Time

    on Bank of America Website

Best HELOC Lender for Good Credit in Kansas: U.S. Bank


  • U.S. Bank

    Applying with U.S. Bank is possible anytime, anywhere.


    • 4.20% to 9.35%APR Range
    • $15,000 to $750,000Loan Amount Range
    • 10-year draw period; unspecified repayment periodRepayment Terms
    • $90Annual Fees
    • Not specifiedPre-Approval Time

    on U.S. Bank Website

Best HELOC Lender for Bad Credit in Kansas: Figure


  • Figure

    Figure is a HELOC lender with one of the lowest required credit scores.


    • From 6.55% to 15.54%APR Range
    • $15,000 to $400,000Loan Amount Range
    • 5 to 30 yearsRepayment Terms
    • NoneAnnual Fees
    • 24 hoursPre-Approval Time

    on Figure Website

Best HELOC Lender for Competitive Rates in Kansas: PenFed


  • PenFed Credit Union

    PenFed Credit Union offers competitive rates and a high loan maximum.


    • 0.99% for 6 months; 4.25% to 18% thereafterAPR Range
    • $25,000 to $1,000,000Loan Amount Range
    • 10-year draw period; 20-year repayment periodRepayment Terms
    • $99Annual Fees
    • N/APre-Approval Time

    on PenFed Credit Union Website

HELOC vs. Home Equity Loans

While they seem identical, a home equity loan (HELOAN) and a home equity line of credit (HELOC) are two different products.

A homeowner can borrow against the value of their property with a home equity loan. Home equity loans also come with fixed interest rates and repayment terms. The money is given to borrowers in one lump payment by the bank.

A HELOC, on the other hand, functions similarly to a credit card. During the draw time, borrowers can withdraw a specific amount stipulated by the lender. Variable interest rates are also available on HELOCs.

The table below further explains the differences.

  • HELOC
    Home Equity Loan
  • Interest Rate

    Adjustable interest rate,
    but fixed-rate options are available

    Fixed interest rate

  • Monthly Payment

    Changes depending on
    the amount of money borrowed

    Fixed monthly payments

  • Repayment Terms

    During the draw period, borrowers pay
    interest on the money they borrowed;
    after the draw period, they repay any
    principal owed in addition to interest

    Repayment starts as soon as
    the money is given to the borrower

  • Fund Disbursements

    Line of credit

    Lump sum delivery

How to Apply for a HELOC

Since many lenders allow you to fill out forms online, applying for a home equity line of credit is simple. Generally, you must first provide your personal information and contact information. Then you wait for approval.

1

Determine how much you need

For homeowners that can budget properly and know the exact amount they need to borrow, MoneyGeek advises a home equity line of credit. HELOCs are also great for big purchases, including investments, debt reduction and education. If you simply need $1,000 for a short home improvement project, a home equity line of credit might not be the best option.

2

Assess your financial standing

Evaluate your financial status in addition to assessing how much you need to borrow. To determine your ability to repay the loan, most lenders have minimum credit score criteria. If you can take little action to improve your credit before applying for a HELOC, you might be able to get a better interest rate.

3

Shop around and compare lenders

Browsing lenders and evaluating their services might be beneficial. This will assist you in locating the best bargain for your specific situation and requirements. You may avoid paying additional fees and take advantage of cheap rates before the loan begins if you choose the correct home equity line of credit lender.

4

Apply

In most cases, you can apply for a HELOC online. To save time, gather the information you'll need for your application. Verified paperwork such as bank statements, mortgage statements and evidence of income could be required.

5

Use funds wisely

Be mindful of the payback terms and additional costs after you begin pulling funds from your HELOC. To budget for monthly spending, take into account how much you have to pay while your home equity line of credit is open.

Frequently Asked Questions About HELOCs

It can be difficult to understand how to open a home equity line of credit. MoneyGeek has answered some frequently asked questions regarding HELOCs to help you learn more.

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