Best HELOC Rates and Lenders in New Jersey (2024)

Banner image
Reviewed byTimothy Manni
fact checked icon
fact checked icon
Reviewed byTimothy Manni
Edited byBenjamar Gabawa
fact checked icon

Updated: April 30, 2024

Advertising & Editorial Disclosure

The best home equity line of credit (HELOC) lender in New Jersey is Lower. This lender's APR range is from 8.75% to 13.5%, with loan amounts ranging from $15,000 to $500,000. MoneyGeek's choice reflects various factors beyond cost, considering overall value to the homeowner. With a minimum credit score of 580, Lower can help New Jersey homeowners manage a variety of expenses.

In New Jersey, MoneyGeek evaluated 16 HELOC lenders. While other lenders exist in the state, they may not have been included in this analysis. Homeowners may explore options like North Jersey Federal Credit Union, Jersey Shore Federal Credit Union and Central Jersey Federal Credit Union, which might offer unique benefits to New Jersey residents.

Best HELOC Lenders in New Jersey

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


    Overall Best HELOC Lender in New Jersey

  • 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 pick for a HELOC lender in New Jersey. With an APR range of 8.75% to 13.5%, it offers flexibility in interest rates. Homeowners can borrow from $15,000 up to $500,000, depending on their needs. It caters to a broader audience with its minimum credit score requirement of 580, making it accessible for various credit backgrounds. Additionally, Lower maintains transparency, offering easy access to loan information on its site and simplifying the borrowing process for homeowners seeking to leverage their home equity.


    • No annual fee
    • Credit scores from 580 accepted
    • Personalized post-loan support


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

HELOC Rates in New Jersey by Credit Score

When deciding on a home equity line of credit (HELOC), New Jersey homeowners, bear in mind your APR isn't set in stone. It fluctuates based on credit scores, loan-to-value (LTV) ratios and chosen repayment terms. Dip into the table to see how tweaking these factors can sway your rates.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% or lower

When you shop for a HELOC in New Jersey, comparing APRs can save you money over time. Lenders offer varying rates and fees, and a lower APR means lower monthly payments and less paid in interest. This careful comparison can make your borrowing experience more budget-friendly, keeping your financial health in check.

HELOC Calculator: Do You Qualify in New Jersey?

According to TransUnion, New Jersey homeowners' ability to borrow against their home's equity might be more significant. With a higher equity, you could secure a larger HELOC. Meanwhile, the average credit score in the state is 725 as reported by Experian, indicating that a score around this range should set you up well for a HELOC.

Eligibility for a HELOC in New Jersey pivots on multiple factors, with equity and credit score taking the spotlight. Try the HELOC calculator below to see how different values affect your eligibility. This quick tool could streamline your search for a suitable HELOC lender.


    Best HELOC Lender in New Jersey 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 New Jersey homeowners seeking cost-effective HELOC options. ActiveForming, like a credit card backed by home equity, is Aven's product that offers financial flexibility while behaving as a HELOC on credit reports. With APRs ranging from 7.99% to 15.49%, borrowers enjoy controlled borrowing costs. The absence of annual fees and opportunities for rate discounts, such as a 0.25% reduction with automatic payments, amplify savings. These features make Aven a practical choice for homeowners prioritizing affordability in New Jersey.


    • Provides a home equity-backed credit card
    • No origination, annual fees or penalties
    • 0.25% autopay rate reduction


    • Line limit only up to $250,000
    • Charges 2.5% fee for bank cashouts
    • Card takes 10 days to arrive

    Best HELOC Lender in New Jersey 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 solid choice for New Jersey homeowners with bad credit looking for a HELOC. A credit score of just 660 can get you started, notably lower than what many lenders require. With a maximum APR capped at 13.1%, the costs stay in check. Also, a rate discount of 0.5% is applied when you opt for autopay, making payments more manageable. U.S. Bank offers a line amount as low as $15,000, making it accessible for various borrowing needs. Moreover, U.S. Bank is accredited by the BBB, boosting confidence in its commitment to customer satisfaction.


    • Offers a fixed-rate option
    • Allows for interest-only payments
    • 0.5% autopay discount


    • Charges an annual fee of $75
    • Closing must be done in person
    • Does not offer hardship assistance
    U.S. Bank

    Best HELOC Lender in New Jersey 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 choice for large loan amounts in New Jersey for homeowners. A HELOC can fund renovations or pay for education. Bank of America allows borrowing up to $1 million with no annual fee, making it an optimal choice for significant expenses. With a 10-year draw period and 20-year repayment term, borrowers have ample time to repay. Additionally, the financial burden is eased with no application, annual or closing fees and competitive discounts. This lender provides financial hardship assistance, which is reassuring for unexpected challenges.


    • Competitive introductory rate for six months
    • Multiple discounts available
    • No application or closing costs


    • Requires in-person closing
    • Undisclosed HELOC criteria
    • $450 early closure fee
    Bank of America

    Best HELOC Lender in New Jersey 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 New Jersey homeowners looking to consolidate high-interest debt such as credit cards or auto loans, PNC Bank is the best HELOC lender. The option to switch between variable and fixed rates offers flexibility in repayment. Lower interest rates mean you save money compared to other debts. It provides quick access to funds, typically three days after closing, allowing borrowers to settle debts swiftly. PNC Bank supports a max loan amount of $1 million, which can cover substantial balances. The APY range of 8.22% to 14.5% and the autopay discount of 0.25% make it a competitive choice. Plus, it offers financial hardship assistance related to any unforeseen circumstances.


    • Offers 0.25% autopay rate reduction
    • Provides financial hardship assistance
    • Allows variable to fixed rate switch


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

How to Choose a HELOC Lender in New Jersey

If you're seeking alternatives to MoneyGeek's highlighted HELOC lenders in New Jersey, let's dive into how you can confidently select a HELOC lender in Garden State.


FAQ: HELOC Lenders and Rates in New Jersey

Navigating the HELOC landscape in New Jersey can seem tricky. These frequently asked questions clear the fog, offering insights to help borrowers select a HELOC lender that aligns with their financial scenario and goals.

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