Best HELOC Rates and Lenders in New Hampshire for 2024
Updated: April 23, 2024
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The best home equity line of credit (HELOC) lender in New Hampshire is Lower. With an APR range of 8.75% to 13.5%, it offers homeowners competitive rates for various financial needs. The loan amount range is broad, from $15,000 to $500,000. There are no annual fees or discounts, and services are available exclusively online. MoneyGeek's choice considered multiple factors beyond cost to pick the top lender.
MoneyGeek reviewed 13 lenders when identifying the best options for New Hampshire's homeowners. While other lenders are available, they weren't all included in this analysis. Local organizations such as Northeast Credit Union, New Hampshire Federal Credit Union and Bellwether Community Credit Union also provide HELOC options, each with their own unique benefits.
- 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 New Hampshire. With an APR range of 8.75% to 13.5%, Lower offers homeowners a competitive way to access cash. Lower accepts homeowners with a minimum credit score of 580, broadening access for a wider range of borrowers. The loan amount range from $15,000 to $500,000 provides flexibility for small and large projects.
Lower’s commitment to transparency makes it easy for homeowners to find key information directly on the website. Lower does not charge an annual fee, adding to its affordability, and provides personalized support post-application.
Pros
- Accepts credit scores as low as 580
- Provides personalized support post-completion
- A+ rating from BBB
Cons
- No fixed-rate HELOC conversion
- Terms of repayment not disclosed
- No rate discounts available
Overall Best HELOC Lender in New Hampshire
HELOC Rates in New Hampshire By Credit Score
If you're a homeowner in New Hampshire considering a home equity line of credit (HELOC), know that your HELOC's APR isn't one-size-fits-all. Good credit and an LTV ratio under 80% are great, but rates still vary with different repayment terms. Check the table below to see how your rate adjusts with the options you choose.
When shopping for a HELOC in New Hampshire, comparing APRs from various lenders can save you money. Lower APRs mean less interest over time, making your borrowing experience more affordable. Different lenders offer varied rates, so take time to find the best deal for your financial situation.
HELOC Calculator: Do You Qualify in New Hampshire?
In New Hampshire, homeowners with high home equity may have a good chance of borrowing more through a HELOC — this insight comes from TransUnion's report. The current average credit score in this state is 736, based on data from Experian. With a score near this average, securing a HELOC should be achievable.
HELOC eligibility is affected by factors other than equity and credit score. Our HELOC calculator can provide insights by adjusting different variables, such as debt and income. This tool is a step towards understanding what you can expect when applying for a HELOC in New Hampshire.
- 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 offers a unique hybrid HELOC that operates like a credit card but is reported as a HELOC on credit reports. In New Hampshire, homeowners looking for affordable financing options can benefit from Aven's competitive APR range of 7.99% to 15.49%, without worrying about annual fees or prepayment penalties. It also offers a 0.25% rate discount with autopay, which can lead to more savings over time.
Pros
- Provides a credit card against home equity\
- Earns 2% unlimited cashback
- No origination or annual fees
Cons
- Line limit only up to $250,000
- Card typically takes 10 business days to arrive
- Charges 2.5% fee for certain cash outs
Best HELOC Lender in New Hampshire for Affordability
- 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
If you're a New Hampshire homeowner with bad credit, getting a HELOC isn't out of reach. U.S. Bank is a top pick, needing just a 660 credit score to start. With APRs ranging from 8.95% to 13.1%, the terms are more forgiving than many.
U.S. Bank offers a 0.5% rate discount for autopay, which can help reduce costs over time. This lender is is accredited by the BBB, adding a layer of trust despite not having a current rating.
Pros
- Offers fixed-rate option
- Prequalify online available
- Interest-only payment option
Cons
- Charges an annual fee of $75
- Does not disclose customer service hours
- Early closure fee up to $500
Best HELOC Lender in New Hampshire for Bad Credit
- 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 best HELOC lender for large loan amounts in New Hampshire. Homeowners can fund high-cost projects like home renovations or cover education expenses. With it, you can borrow up to $1 million, which is far higher than many competitors offer.
Homeowners benefit from extended repayment periods with a 10-year draw period followed by a 20-year repayment period, allowing ample time to manage borrowed funds without stress. No annual fees mean keeping costs down over the loan's lifetime. Assistance during financial hardship is a feature that provides additional peace of mind for borrowers. U.S. Bank is accredited by the BBB, though it currently does not have a rating.
Pros
- Introductory rate of 6.99% for six months
- No closing costs or annual fees
- Maximum $1 million loan amount
Cons
- In-person closing at financial center required
- Undisclosed HELOC minimum requirements
- Online applications require $25,000 minimum
Best HELOC Lender in New Hampshire for Large Loans
- 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 choice in New Hampshire for homeowners looking to use a HELOC for debt consolidation — a HELOC can help combine debts like credit card and medical bills into one with lower interest rates.
Look for options with interest rates below your current debts, quick access to funds and high enough limits. PNC fits the bill, offering a minimum APR of 8.22% and max APR of 14.5%, funding within three days after closing and allowing you to borrow up to $1 million. Homeowners benefit from potentially lower costs and streamlined management of their financial obligations.
Pros
- Switch between variable and fixed rates
- 0.25% autopay rate reduction with PNC account
- Reimburses various loan processing fees
Cons
- Charges a $50 annual fee
- Does not disclose most information online
- Charges a late fee
Best HELOC Lender in New Hampshire for Debt Consolidation
How to Choose a HELOC Lender in New Hampshire
MoneyGeek has shared its picks for top HELOC lenders in New Hampshire. If you're considering other lenders, the following strategies will guide you to make an informed decision, ensuring your choice aligns with your financial goals.
FAQ: HELOC Lenders and Rates in New Hampshire
Got questions on picking a HELOC lender in New Hampshire? We've compiled answers to common inquiries to aid you in making informed choices for your home equity needs.
A competitive HELOC rate in New Hampshire is around 7%. These rates are based on an LTV ratio of 80% or less and credit scores ranging between 680 to 740. However, rates vary depending on factors such as creditworthiness and the lender chosen.
Lower is recognized as the best overall HELOC lender in New Hampshire. Its high ranking is attributed to a favorable APR range of 8.75% to 13.5%, loan amounts from $15,000 to $500,000 and a minimum credit score requirement of 580, catering to a wide range of homeowners.
Yes, homeowners with bad credit can still qualify for a HELOC in New Hampshire. For example, U.S. Bank offers HELOCs with an APR range of 8.95% to 13.1% and a relatively low minimum credit score requirement of 660.
Bank of America stands out for large HELOCs in New Hampshire, offering loans between $25,000 and $1,000,000. Homeowners might require substantial loans for significant expenses such as home renovation projects or investing in real estate.
Yes, homeowners can use a HELOC for debt consolidation. PNC Bank is recommended for this purpose, with an APR range of 8.22% to 14.5%, funds available three days after closing and loan amounts up to $1,000,000.
To find the right HELOC lender, assess what you intend to use the funds for and understand your financial situation. Preferences such as lower interest rates, larger loan amounts or faster fund access could dictate the lender that best matches your needs.
sources
- Better Business Bureau. "Get Consumer Help." Accessed April 19, 2024.
- Experian. "What Is the Average Credit Score in the US?." Accessed April 19, 2024.
- New Hampshire Banking Department. "Consumer Credit Licensees & Registrants." Accessed April 19, 2024.
- TransUnion. "Home Equity Trends Report Q3 2023." Accessed April 19, 2024.