Best HELOC Rates and Best HELOC Lenders in North Dakota (September 2024)

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Updated: September 10, 2024

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The best HELOC lender in North Dakota is Lower, making it a sought-after choice for homeowners. It offers loans from $15,000 to $500,000 at interest rates between 8.75% and 13.5%. Although it doesn't charge annual fees or offer discounts, its services are accessible exclusively online.

MoneyGeek reviewed 10 HELOC lenders in North Dakota, noting that other options exist. For specific needs, consider Capital Credit Union, Town and Country Credit Union or United Savings Credit Union, as these institutions might have unique benefits for their members.

Best HELOC Lenders in North Dakota

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

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 September 2024 and includes lenders that do business in North Dakota.

10Lenders Analyzed

    Overall Best HELOC Lender in North Dakota

  • 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 best HELOC lender in North Dakota. With an APR range of 8.75% to 13.5%, it offers competitive cost savings. Homeowners can access $15,000 to $500,000, fitting various needs. A minimum credit score of 580 makes it accessible. It ensures easy access to essential details such as APR and loan amounts, streamlining the borrowing process. Lower also has no annual fee and an A+ BBB rating, underscoring its reliability for homeowners looking to leverage their home equity.

    Pros

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

    Cons

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

HELOC Rates in North Dakota by Credit Score

A home equity line of credit (HELOC) APR isn't one-size-fits-all, especially for North Dakota homeowners. Even with a solid credit score and a conservative loan-to-value (LTV) ratio under 80%, rates vary by repayment terms. Reference the table to see rate shifts for different parameters.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% - 95%
HELOC (10 year)APR6.55%
HELOC (15 year)APR6.55%
HELOC (20 year)APR6.55%

Where does this data come from?

Comparing APRs from various HELOC lenders in North Dakota is a smart move for homeowners. Lower APRs mean less interest over time, making payments more manageable. Differences in rates can impact the overall cost of borrowing, influencing monthly financial planning and long-term budgets. Take the time to shop around for the best deal.

HELOC Calculator: Do You Qualify in North Dakota?

Homeowners in North Dakota with a solid home equity could borrow more through a HELOC. The average credit score in the state is 733, as noted by Experian. If yours is around this range, you're likely positioned well for a HELOC.

Your eligibility for a HELOC depends on equity, credit score, among other factors. Experiment with our HELOC calculator to understand how these variables affect your eligibility. It could show you, for example, how much you might borrow against your home.

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 in North Dakota 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 homeowners in North Dakota looking for HELOC with cost-saving benefits. Besides competitive APRs ranging from 7.99% to 15.49%, Aven's product is designed to save you money with no annual fees and a 0.25% rate discount for autopay enrollment. This could translate to significant savings over the life of a HELOC for cost-conscious borrowers. Aven's hybrid product works like a credit card backed by your home's equity but is reported as a HELOC to credit bureaus.

    Pros

    • Provides credit card backed by home equity
    • Earns 2% unlimited cashback on purchases
    • No origination or annual fees

    Cons

    • Line limit up to $250,000 only
    • Card delivery takes 10 days
    • 2.5% cash out or transfer fee
    Aven

How does MoneyGeek recommend lenders for affordability?


    Best HELOC Lender in North Dakota 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 the top pick for North Dakotans with less-than-stellar credit seeking a HELOC. If your credit score isn't perfect, you're not out of luck. U.S. Bank's HELOC offers start for those with a minimum credit score of 660. While bad credit may affect terms, here you find a maximum APR of 13.1% and a chance to lower your rate by 0.5% if you opt for autopay. With no closing costs and a $15,000 minimum line amount, this product supports manageable borrowing. U.S. Bank is accredited by the BBB, though currently does not have a rating.

    Pros

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

    Cons

    • Closing must be done in person
    • Charges an early closure fee
    • Does not offer hardship assistance
    U.S. Bank

How does MoneyGeek recommend lenders for those with bad credit?


    Best HELOC Lender in North Dakota 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

    In North Dakota, Bank of America is a smart choice for homeowners seeking HELOCs for large expenses like home renovations or educational fees. With its offer, you can borrow up to $1 million, depending on your property's value. It also ensures that you have a 10-year period to draw funds and an additional 20 years to pay back what you borrow, without the burden of annual fees. Its product provides a safety net through financial hardship assistance. For a significant borrowing need, its terms offer balance and support.

    Pros

    • Competitive 6-month introductory rate
    • No application or annual fees
    • Financial hardship assistance available

    Cons

    • Closing requires in-person visit
    • Undisclosed HELOC prerequisites
    • $25,000 min for online apps
    Bank of America

How does MoneyGeek recommend lenders for large loan amounts?


    Best HELOC Lender in North Dakota 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

    PNC Bank is the best lender for homeowners in North Dakota looking to consolidate high-interest debt like credit cards and personal loans using a HELOC. The right lender offers competitive rates, quick fund access and a sufficient loan ceiling to cover your debts. PNC's HELOC has a minimum APR of 8.22% and up to 14.5%, lower than many high-interest debt options. Loan amounts range from $10,000 to $1 million, and customers can receive funds within three days after closing. With its flexible terms and special features such as rate-switching, online application tracking and financial hardship assistance, PNC Bank supports homeowners in effectively managing and consolidating their debt.

    Pros

    • Switch between variable and fixed rates
    • Borrow up to $1 million
    • Offers financial hardship assistance

    Cons

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

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in North Dakota

MoneyGeek has shared top HELOC lenders in North Dakota for various needs. However, if you're considering alternatives, the following strategies will guide you in selecting a lender that aligns with your financial goals and personal circumstances.

    girlThinking icon

    Define Your HELOC Goals

    Knowing why you need a HELOC in North Dakota helps you pick the right lender. Want to renovate your home or consolidate debt? Different lenders cater to various needs. Research lenders who offer the best terms for your goal.

    trustSeal icon

    Investigate Lender Reputation

    Check each lender's standing with the Better Business Bureau and the North Dakota Department of Financial Institutions. It ensures they're credible and consumers have had positive interactions.

    loanVsLoan icon

    Compare Rates and Fees

    Assess loan terms like interest rates and understand HELOC closing costs. Compare these across multiple North Dakota lenders to find the most favorable conditions, without focusing solely on rates.

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    Check Community Standing

    A North Dakota lender's local awards or community recognitions often signal customer satisfaction. They can be a trustworthy choice due to established goodwill within the community.

    loanReview icon

    Assess Lender Flexibility

    Opt for lenders offering flexibility that aligns with your needs, such as interest-only payments or converting variable rates to a fixed-rate HELOC. Look for easy online prequalification, a sign of customer-focused service.

FAQ: HELOC Lenders and Rates in North Dakota

Navigating the HELOC landscape in North Dakota can be smooth when you have the right information. Our carefully curated questions address common concerns, guiding you toward a lender decision that meshes with your financial picture and goals.

What's a good HELOC rate in North Dakota? What are the best HELOC rates in Fargo?

A competitive HELOC rate in North Dakota is around 6.38%, assuming an LTV ratio of 80% or less and a credit score of 680 to 740. Rates may fluctuate based on your creditworthiness and lender selection. Notably, the best HELOC rates in Fargo are indicative of the best HELOC rates in North Dakota.

Which HELOC lender is best overall in North Dakota?

Lower is recognized as the best overall HELOC lender in North Dakota. It stands out due to its favorable APR range of 8.75% to 13.5%, allowing a loan amount range of $15,000 to $500,000 with a relatively low minimum credit score requirement of 580, significant for North Dakota homeowners seeking versatile HELOC options.

Can I still qualify for a HELOC in North Dakota if I have bad credit?

Yes, it's possible to qualify for a HELOC in North Dakota with bad credit. U.S. Bank, for example, offers HELOCs to individuals with a minimum credit score of 660, which may accommodate those with less-than-perfect credit. When selecting a lender, consider the minimum credit score requirement, potential discounts and the highest APR you might face.

Which HELOC lender in North Dakota is best for large loans?

Bank of America stands out for large loans in North Dakota, with its loan amount range up to $1,000,000. Homeowners may need a substantial amount for major expenses like home renovation projects or investing in significant property upgrades.

Can I use a HELOC to consolidate debt?

You can use a HELOC for debt consolidation. When considering a lender for this purpose, be sure learn about the HELOC pros and cons before applying. Review the lender's APR range, loan amount range and how quickly you can receive funds. PNC Bank, distinguished for debt consolidation, offers a range of 8.22% to 14.5% APR, funds available 3 days after closing and loan amounts up to $1,000,000.

How can I ensure I find the right HELOC lender in North Dakota for me?

To find the right HELOC lender in North Dakota, assess your personal financial needs, such as your intended use for the HELOC and your current financial situation. Different lenders cater to varying priorities, whether it's low rates, high loan amounts or flexible credit requirements.

About Zachary Romeo, CBCA

Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.

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