Best HELOC Rates and Lenders in Oklahoma (September 2024)

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Updated: October 3, 2024

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The best home equity line of credit (HELOC) lender in Oklahoma is Lower. It stands out with an APR range from 8.75% to 13.5% and loan amounts from $15,000 to $500,000. It is available exclusively online to a wide range of homeowners, setting the minimum credit score requirement at 580.

MoneyGeek reviewed 12 lenders to find the top HELOC provider in Oklahoma. There are more lenders in the state, but we didn't include them in the study. It's worth noting that Oklahomans also have local lenders like Tinker Federal Credit Union, Oklahoma's Credit Union and Focus Federal Credit Union, each providing unique benefits that cater to the needs of Oklahoma homeowners.

Best HELOC Lenders in Oklahoma

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 Oklahoma 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 September 2024 and includes lenders that do business in Oklahoma.

12Lenders Analyzed

    Overall Best HELOC Lender in Oklahoma

  • 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 overall top HELOC lender in Oklahoma, offering competitive features for homeowners. It caters to a broad spectrum of borrowers, with its APR ranging from 8.75% to 13.5%. Its loan range of $15,000 to $500,000 is suitable for various home improvement projects or financial needs. Homeowners with a minimum credit score of 580 can apply, increasing access to a larger group. Lower ensures that obtaining information and personalized support post-application is easy, making the HELOC process straightforward.

    Pros

    • No annual fee
    • Accepts credit scores from 580
    • Personalized post-loan support

    Cons

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

HELOC Rates in Oklahoma by Credit Score

Your home equity line of credit (HELOC) APR hinges on high credit scores and LTV ratios below 80%. Different repayment terms can lead to varying rates from lenders. Review the table to see rate changes for different parameters.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:680 - 740
LTV Ratio:
LTV Ratio:80% - 95%
HELOC (10 year)APR6.72%
HELOC (15 year)APR6.72%
HELOC (20 year)APR6.72%

Where does this data come from?

When considering a HELOC in Oklahoma, comparing APRs from various lenders can significantly influence your borrowing costs. Lower APRs mean less interest paid over time, ensuring your hard-earned money goes further. Take the time to research and potentially save yourself thousands of dollars during the life of your loan.

HELOC Calculator: Do You Qualify in Oklahoma?

Your eligibility for a HELOC in Oklahoma hinges on a mix of factors, including your home equity and credit score. A high equity can unlock more borrowing potential. With an average state credit scoreof 696, as reported by Experian, matching or surpassing this figure indicates favorable HELOC prospects.

To further explore your options, our HELOC calculator provides insights. By adjusting variables, such as equity and score, it informs your HELOC search. For instance, it might show increased borrowing power if your equity outstrips exceeds the average homeowner's.

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 Oklahoma 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 Oklahoma seeking cost-effective HELOC options. It offers financial flexibility with an APR range from 7.99% to 15.49%. Besides competitive rates, it features no annual fees, which helps with overall savings. Adding to the affordability, a rate discount of 0.25% is available with autopay enrollment. Aven's product acts as a hybrid HELOC, functioning much like a credit card but secured by your home's equity; it is reported as a HELOC on credit reports. Aven suits Oklahomans prioritizing lower costs in their borrowing ventures.

    Pros

    • Earns you 2% unlimited cash back for purchases
    • 0.25% rate reduction for autopay
    • No origination and annual fees or prepayment penalty

    Cons

    • Line limit is only up to $250,000
    • Card delivery takes 10 business days
    • No financial hardship assistance
    Aven

How does MoneyGeek recommend lenders for affordability?


    Best HELOC Lender in Oklahoma 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 HELOC lender in Oklahoma for homeowners with bad credit. Bad credit may mean higher rates but not a definite denial from lenders. U.S. Bank's minimum credit score is 660, which is within reach for those with less-than-perfect credit. Its APR ranges from 8.95% to 13.1%. Homeowners can take advantage of a 0.5% rate discount with autopay. The flexibility of borrowing as little as $15,000 makes it accessible, and there are no closing costs. U.S. Bank is accredited by the BBB, though it currently does not have a rating.

    Pros

    • No closing costs
    • Fixed-rate option available
    • Interest-only payment available

    Cons

    • Must close in person at a branch
    • Early closure fee of up to $500
    • Annual fee of $75
    U.S. Bank

How does MoneyGeek recommend lenders for those with bad credit?


    Best HELOC Lender in Oklahoma 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 best lender in Oklahoma for large loan amounts, offering up to $1 million. Oklahoma homeowners looking to fund high-cost needs like home improvements or education expenses can benefit from a HELOC. Bank of America provides flexible repayment terms with a 10-year draw period and a 20-year repayment period, which gives borrowers time to manage repayments. Additionally, no annual fees mean more savings over time. With introductory rates and multiple discounts, it supports homeowners during financial hardships.

    Pros

    • Competitive introductory rate for the first six months
    • Offers financial hardship assistance
    • No application, annual or closing fees

    Cons

    • Closing must be done in person
    • Minimum online loan is $25,000
    • $450 early closure fee
    Bank of America

How does MoneyGeek recommend lenders for large loan amounts?


    Best HELOC Lender in Oklahoma 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 go-to lender for homeowners in Oklahoma looking to consolidate high-interest debts like credit card balances and personal loans using a HELOC. It's an attractive route because PNC Bank offers HELOC with lower interest rates, ranging from 8.22% to 14.5%. Funds are typically accessible within three days after closing, which facilitates the immediate payoff of other debt. With loan limits reaching up to $1 million, most homeowners will find their debts easily covered. If money gets tight, PNC Bank offers hardship assistance. Moreover, the financial strain is further lessened with benefits such as a rate discount on autopay from a qualifying PNC account and fee reimbursement. PNC Bank maintains a strong reputation, backed by its A+ BBB rating, adding to homeowner confidence in this lending solution.

    Pros

    • Offers financial hardship assistance
    • Allows switching between variable and fixed rates
    • Has an online tracker for application progress

    Cons

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

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in Oklahoma

MoneyGeek has highlighted the top HELOC lenders in Oklahoma for various needs. Yet, if you're looking for more alternatives, the following strategies will streamline your search for a lender that aligns with your financial needs and circumstances.

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    Define Your HELOC Purpose

    Knowing why you need a HELOC will guide you to the right lender in Oklahoma. Lenders may offer specialized terms for different needs, such as home renovations, debt consolidation or education. Start with a clear plan to pinpoint options that align with your goals.

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    Check Lender Credibility

    Scrutinize the lender's track record. Consult the Better Business Bureau and the Oklahoma State Banking Department to verify reputation and compliance. These steps guard against unpleasant surprises later on.

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    Compare Rates and Fees

    Take the time to examine rates and fees, remembering to check HELOC closing costs. These can vary widely and significantly affect your expenses. Contact several Oklahoma lenders to understand their fee structures, which will ensure you don't pay more than necessary.

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    Gauge Community Standing

    A lender's local reputation speaks volumes. Look for those recognized in Oklahoma with awards for service excellence. Positive feedback from community members can be a reliable indicator of a lender’s commitment to customers.

    loanReview icon

    Assess Flexibility

    Select a lender who adapts to your needs. Some may offer interest-only payments or conversion from variable rate to fixed-rate HELOC. Easy application processes, including online prequalification, are bonuses worth considering.

FAQ: HELOC Lender and Rates in Oklahoma

Navigating the landscape of HELOC lenders in Oklahoma can seem daunting. The responses to these frequently asked questions aim to clarify the selection process, providing you with a clearer path to a lender that meets your financial needs.

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

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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