Best HELOC Rates and Lenders in New York (2024)

U.S. Bank is the top HELOC lender in New York. It offers APRs from 8.95% to 13.1%, loan amounts from $15,000 to $750,000, and a minimum credit score requirement of 660, making it accessible for many homeowners. With the draw period lasting 10 years and a repayment phase of up to 20 years, borrowers get flexibility in managing their funds. U.S. Bank allows online prequalification, making it straightforward for applicants to start the process. It is accredited by the BBB.

Connexus Credit Union offers a HELOC with competitive features for New York homeowners seeking cost-effective options. Its APR ranges from 8.74% to 15.9%, providing flexibility based on creditworthiness. Without annual fees and with the possibility of rate discounts, it facilitates lower overall borrowing costs. The 15-year draw period allows extended access to funds, reinforcing affordability for those prioritizing budget management. With a minimum APR as low as 8.74%, homeowners can capitalize on lower interest expenses over the life of their loan.

For New York homeowners with less-than-perfect credit, finding the right HELOC lender can be a challenge. Yet, U.S. Bank offers options that make it easier to secure a loan. A minimum credit score of 660 might get you in the door, and with APRs ranging from 8.95% to 13.1%, it’s more manageable compared to the steeper rates you might face elsewhere.

allows you to reduce your rate by 0.5% just for signing up for autopay, making it a helpful feature for those needing to keep costs down. You can borrow as little as $15,000 or as much as you need, up to $750,000, providing flexibility in how much you can draw from your equity. Plus, U.S. Bank is accredited by the BBB, which offers peace of mind, knowing you're working with a recognized institution.

Bank of America is the top lender for significant home equity line of credit needs in New York. With a high loan limit of $1 million, it caters to funding large-scale projects or educational expenses. The repayment terms extend to a 20-year period, which gives flexibility in managing finances. A bonus is the absence of any annual fee, which adds up to cost savings over time. For New Yorkers seeking to leverage their home equity without the burden of extra fees or strict time constraints, this lender provides an adaptable and approachable financial tool.

PNC Bank is the top pick for homeowners in New York looking to use a HELOC for debt consolidation. A HELOC can streamline multiple high-interest debts, such as credit cards and personal loans, into one. The ideal lender offers lower interest rates than your existing debts. It should also provide quick access to funds and have a high enough loan limit to cover your balances.

With PNC Bank, you'll find an APR range from 8.22% to 14.5% and the opportunity to borrow up to $1 million. It gets funds to you just three days after closing. This lender stands out because it reimburses certain fees and offers a rate discount for autopay enrollment. This flexibility makes PNC Bank a strong option for New Yorkers pursuing financial efficiency through a HELOC.