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

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Updated: July 9, 2024

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The best home equity line of credit (HELOC) lender in Ohio is Lower. Homeowners have access to it online, as it doesn't operate physical branches. Its terms include an APR range from 8.75% to 13.5% for loan amounts of $15,000 to $500,000. Homeowners with credit scores starting at 580 are eligible, making it a flexible choice for a range of borrowers.

MoneyGeek evaluated 15 lenders for this analysis, acknowledging that more options exist beyond this selection. Ohio homeowners also have local lenders like Credit Union of Ohio, Kemba Financial Credit Union and OUCU Financial. These institutions may offer distinct advantages not captured in this broader review.

Best HELOC Lenders in Ohio

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

MoneyGeek evaluated Ohio HELOC lenders against a rubric that included APR ranges, annual fees and affordability, among other criteria.

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Our analysis was completed in July 2024 and includes lenders that do business in Ohio.

15Lenders Analyzed

    Overall Best HELOC Lender in Ohio

  • 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 Ohio for homeowners looking to leverage their home equity. Its APR ranges from 8.75% to 13.5%, suitable for various financial situations. It provides flexibility for different needs with loan amounts from $15,000 to $500,000. Its minimum credit score requirement of 580 opens doors for a wider range of homeowners. Transparency is a hallmark, as clear information is available on its website. This lender has no annual fees and has personalized support post-application. Homeowners can benefit from the accessible terms from Lower while tapping into their home equity.


    • Accepts credit scores as low as 580
    • Provides personalized support post-loan
    • A+ rating from BBB


    • No rate discounts offered
    • No fixed-rate HELOC conversion
    • No financial hardship assistance

HELOC Rates in Ohio by Credit Score

Your home equity line of credit (HELOC) APR in Ohio can vary. Good credit and a low loan-to-value (LTV) ratio might secure favorable rates, but lenders weigh repayment terms differently. Refer to the table to see how changing the terms affects your rate.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% or lower
HELOC (10 year)APR7.16%
HELOC (15 year)APR7.16%
HELOC (20 year)APR7.16%

Where does this data come from?

When searching for a HELOC in Ohio, it's wise to compare APRs. An annual percentage rate reflects the true cost of borrowing, which includes interest and fees. Different lenders offer varied APRs, which means the cost of your loan over time can vary significantly. By comparing, you secure a deal that fits your budget, ensuring a smoother borrowing experience.

HELOC Calculator: Do You Qualify in Ohio?

In Ohio, homeowners have an average of $91,000 in home equity, as reported by TransUnion. This means you might borrow more based on your home's value. Experian also reports that the average credit score in the state is 716. If your credit score is around this mark, securing a HELOC might be within reach.

Eligibility for a HELOC in Ohio is about more than just home equity and credit score. Use the HELOC calculator to experiment with different variables. It's a simple way to gauge your eligibility when considering a HELOC.

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
Eligible to Borrow
Loan-to-Value Ratio
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 Ohio 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 a standout choice for homeowners in Ohio seeking affordability in a HELOC. Aven’s product acts like a credit card backed by your home's equity, but it's reported as a HELOC to credit bureaus. Ohio homeowners benefit from competitive APRs ranging from 7.99% to 15.49%, with the added advantage of no annual fees and a 0.25% rate discount when setting up autopay. These features can lead to considerable cost savings without worrying about early closure penalties or origination fees.


    • Credit card backed by home equity
    • 0.25% rate reduction with autopay
    • No fees or prepayment penalties


    • Line limit of up to $250,000
    • One-time 2.5% cash out fee
    • Card delivery takes 10 days

How does MoneyGeek recommend lenders for affordability?

    Best HELOC Lender in Ohio 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 Ohio homeowners with bad credit seeking a HELOC. While bad credit doesn’t mean you're ineligible for a HELOC, it often leads to higher rates. U.S. Bank considers a wide range of borrowers with a minimum credit score requirement of 660. It offers a maximum APR of 13.1%, ensuring your rates don't skyrocket. Additionally, there is a 0.5% rate discount for setting up autopay. These features can make managing your home equity line more affordable. U.S. Bank is accredited by the BBB, though it currently does not have a rating.


    • No closing costs
    • Prequalification online availability
    • Fixed-rate option offered


    • Closing must be done in person
    • Charges an early closure fee
    • Does not disclose service hours
    U.S. Bank

How does MoneyGeek recommend lenders for those with bad credit?

    Best HELOC Lender in Ohio 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 lender for homeowners in Ohio looking for large loan amounts. Homeowners who need funds to make big investments can use a HELOC for expenses like home renovations or higher education. Bank of America offers a maximum loan amount of $1 million for most areas, a 10-year draw period and a 20-year repayment period. This means you have time to repay what you borrow without worrying about an annual fee. Plus, it includes a 6.99% introductory rate for the first six months and multiple discounts. Bank of America also provides assistance if you hit a rough patch financially.


    • No application, annual or closing fees
    • Competitive 6.99% introductory rate
    • Supports customers during financial hardship


    • Minimum online loan of $25,000
    • Must close in person
    • $450 early closure fee
    Bank of America

How does MoneyGeek recommend lenders for large loan amounts?

    Best HELOC Lender in Ohio 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 preferred HELOC lender in Ohio for homeowners looking to consolidate high-interest debts like credit card balances and personal loans. With an APR range of 8.22% to 14.5%, it offers competitive rates that are likely lower than those of your existing debts. Homeowners can borrow up to $1 million and access funds within three days after closing, ensuring ample capacity to combine balances. Additionally, PNC Bank supports borrowers with an online application tracker and provides assistance during financial challenges.


    • Able to switch between rate types
    • Autopay discount available
    • Can borrow up to $1 million


    • Charges a $50 annual fee
    • Charges a late fee
    • Charges a fee for interest rate locks/unlocks
    PNC Bank

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in Ohio

MoneyGeek has highlighted Ohio's top HELOC lenders for various needs. If you want choices beyond these recommendations, these strategies will streamline your search for the right lender to match your financial situation.

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    Define Your HELOC Goals

    Knowing why you want a HELOC ensures you pick the right lender in Ohio. If you're funding home renovations, a lender might offer a special draw period. For debt consolidation, another might provide competitive rates. Outline your project's costs and timeline to streamline your search.

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    Verify Lender Credibility

    Always check a lender's track record through the Better Business Bureau and the Ohio Department of Commerce. Their standings reflect reliability and adherence to state regulations, guiding you toward trustworthy options.

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    Compare Rates and Fees

    Analyzing different lenders' rates and fee structures, including HELOC closing costs, can help you save money. Don't just look at interest rates; consider how closing costs and repayment terms affect your loan's affordability over time.

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    Assess Community Standing

    A lender with high community esteem often signals great service. Look for lenders in Ohio with local awards or strong community engagement, which suggests they prioritize customer satisfaction and local relationships.

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    Examine Flexibility Options

    Choose a lender in Ohio that matches your financial needs. Some allow interest-only payments or offer a fixed-rate HELOC. Online prequalification is a plus, offering convenience and time-saving in your application process.

FAQ: HELOC Lender and Rates in Ohio

Navigating the HELOC landscape in Ohio can be simple with the right knowledge. These frequently asked questions aim to equip you with insights about options, rates and terms offered across the state so you can confidently select a lender tailored to your financial needs.

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