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

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Updated: July 26, 2024

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The best home equity line of credit (HELOC) lender in Nevada is U.S. Bank. It combines online convenience with an array of branch locations across the state. MoneyGeek sifted through multiple factors beyond just pricing to crown the winner.

U.S. Bank stands out with its competitive APR range from 8.95% to 13.1% and extensive loan amounts that run from $15,000 to $750,000, which serve a broad spectrum of homeowner needs. Clients enjoy a reduced rate of 0.5% with autopay, and the annual fees can peak at $75. The minimum credit score requirement is 660, making its financial products accessible to a fair number of residents.

MoneyGeek's analysis included nine HELOC lenders in Nevada. Keep in mind, more lenders operate within the state that may offer competitive options. Local lenders like Greater Nevada Credit Union, OneNevada Mortgage Loans and Nevada State Bank also provide HELOCs, each with unique benefits that can cater to specific homeowner needs.

A Summary of the Best HELOC Lenders in Nevada

Best Overall: U.S. Bank

Best for Affordability: Regions Bank

Best for Bad Credit: U.S. Bank

Best for Large Loan Amounts: Bank of America

Best for Debt Consolidation: U.S. 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 July 2024 and includes lenders that do business in Nevada.

9Lenders Analyzed

    Best HELOC Lender Overall

  • 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 in Nevada, according to our analysis. Homeowners in Nevada benefit from low APRs ranging from 8.95% to 13.1%, accommodating loan amounts between $15,000 and $750,000, and a minimum credit score requirement of 660, which makes it accessible to a wide range of borrowers. U.S. Bank supports homeowners with features like no closing costs, a discount of 0.5% for autopay setups and the option to prequalify online. With U.S. Bank, you can also choose a fixed-rate option and enjoy a 10-year draw period and a 20-year repayment period.

    Pros

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

    Cons

    • In-person closing requirement
    • Early closure fee up to $500
    • $75 annual fee
    U.S. Bank

HELOC Rates in Nevada by Credit Score

Your HELOC APR in Nevada can shift based on credit score, loan-to-value ratios and chosen repayment terms. Even with good credit and a lower LTV, rates vary. Review the table to see rate changes with different parameters.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% or lower
HELOC (10 year)APR6.77%
HELOC (15 year)APR6.77%
HELOC (20 year)APR6.77%

Where does this data come from?

As a Nevada homeowner exploring HELOC options, comparing APRs from various lenders is a savvy move. A lower APR means you’ll pay less over the life of the line of credit. This could ease your financial pressure, allowing for more manageable repayments and possibly freeing up cash for other uses.

HELOC Calculator: Do You Qualify in Nevada?

Nevada homeowners might be curious about the equity they can tap into for a HELOC. According to TransUnion's report, the total tappable equity data hints you might borrow more with high home equity. The average credit score in the state is 702, says Experian, so a comparable score suggests you're set for a HELOC.

Your eligibility for a HELOC in Nevada isn't just about equity and credit score; other factors count too. Use the HELOC calculator to check your status by adjusting different values. This tool is a real asset in your search for a suitable HELOC lender.

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

  • Regions Bank
    • 9% to 15.88%APR Range
    • $10,000 to $500,000Loan Amount Range
    • UndisclosedMinimum Credit Score
    • 10-year draw period; 20-year repayment periodRepayment Terms
    • NoneAnnual Fees

    Regions Bank is the top HELOC lender in Nevada for cost-savings. With APRs ranging from 9% to 15.88%, it also eliminates annual fees, promoting additional savings for homeowners. Borrowers can obtain rate discounts of 0.25% to 0.50% for setting up autopay. This lender's product encourages manageable borrowing with a minimum loan amount of $10,000 and offers attractive terms with flexibility during financial hardship, proving beneficial for Nevada homeowners prioritizing affordability.

    Pros

    • Offers to pay closing costs up to $250K
    • Minimum loan amount of $10,000
    • Assistance during financial hardship

    Cons

    • May impose early closure penalty
    • Overlimit fee of $29 charged
    • Loan conversion costs $100
    Regions Bank

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

    U.S. Bank is a strong option for Nevada homeowners with bad credit in need of a HELOC. Even with a credit score as low as 660, you could secure a line of credit. Its APR ranges from 8.95% to 13.1%, and you could lower your rate by 0.5% by setting up autopay. The minimum borrowing amount starts at a manageable $15,000. It allows for interest-only payments during the draw period, offering flexibility in managing finances. U.S. Bank is accredited by the BBB, though currently does not have a rating.

    Pros

    • Allows prequalification online
    • Interest-only payment option
    • Fixed rate available

    Cons

    • Must close in person at bank
    • Annual fee of $75 charged
    • Unclear 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

    For Nevada homeowners needing big bucks for things like home renovation or college tuition, Bank of America is the top pick. With Bank of America, you can access up to $1 million and enjoy a 10-year draw period with a 20-year repayment term. This gives you plenty of time to pay back what you borrow. Plus, you don't have to worry about annual fees adding to your costs. Bank of America's offer includes a competitive 6.99% introductory rate for six months and discounts up to 1.5% for initial withdrawals.

    Pros

    • Maximum loan amount of $1 million
    • Competitive intro rate of 6.99%
    • No application, annual or closing fees

    Cons

    • Closing must be done in person
    • Minimum online loan amount of $25,000
    • $450 early closure fee charge
    Bank of America

How does MoneyGeek recommend lenders for large loan amounts?


    Best HELOC Lender for Debt Consolidation

  • 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 in Nevada for those looking to consolidate high-interest debts like credit card balances or personal loans. It offers an advantage with lower interest rates ranging from 8.95% to 13.1%, making it a cheaper option than many other lines of credit. U.S. Bank also provides funds within three business days and has a high maximum loan limit of up to $750,000, allowing homeowners to manage multiple debts comfortably. Additionally, you could lower your rate by 0.5% when you opt for autopay. U.S. Bank is accredited by the BBB, though it currently does not have a rating.

    Pros

    • No closing costs
    • Prequalify online feature
    • Interest-only payment option

    Cons

    • Closing must be done in person at a branch
    • Charges an annual fee of $75
    • Does not disclose customer service hours
    U.S. Bank

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in Nevada

Now that MoneyGeek has showcased Nevada's top HELOC lenders, you might wonder what's next. For those seeking more, here's a streamlined guide to picking a lender that fits your unique situation, ensuring your journey to a HELOC in Nevada is a smooth one.

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    Define Your HELOC Purpose

    Identify why you need a HELOC. Lenders in Nevada may tailor their HELOC to various uses — debt consolidation, home improvement or major purchases. Knowing your goal helps match with the right lender. Get clarity on your HELOC's purpose to navigate lender options more effectively.

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    Investigate Lender Credibility

    Research lenders thoroughly in Nevada. Consult the Better Business Bureau and the Nevada Financial Institutions Division to assess reputation. Solid ratings and a clean track record are good signs.

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    Analyze Rates and Fees

    Comparing interest rates and closing costs helps find cost-effective HELOC options in Nevada. Don't overlook fees and payment terms. Shop around for the best deal rather than settling for the first offer.

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    Check Community Standing

    Consider a lender's local reputation. Awards in Nevada signal service quality. Seek out lenders recognized for excellence within the community to ensure a supportive borrowing experience.

    loanReview icon

    Evaluate Lender Flexibility

    Choose a lender willing to work with your circumstances in Nevada. Flexibility can mean accepting interest-only payments, converting from variable rates to a fixed-rate HELOC or offering straightforward online prequalification. A flexible approach can simplify securing your HELOC.

FAQ: HELOC Lenders and Rates in Nevada

Delving into home equity lines of credit in Nevada can be a complex process. The answers below steer you through selecting a lender, focusing on rates, terms and customer service, ensuring you’re equipped to make informed borrowing choices.

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

Sources

Better Business Bureau. "Get Consumer Help." Accessed July 8, 2024.

Experian. "What Is the Average Credit Score in the US?." Accessed July 8, 2024.

Nevada Financial Institutions Division. "Licensing Information." Accessed July 8, 2024.

TransUnion. "Home Equity Trends Report Q3 2023." Accessed April 8, 2024.

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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