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

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Updated: July 9, 2024

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The best HELOC lender in Wisconsin is Lower, offering its services exclusively online. Its APR ranges from 8.75% to 13.5%, accommodating a broad spectrum of homeowners. MoneyGeek's selection process encompassed more than just cost, including service availability, loan amounts ranging from $15,000 to $500,000, and a low minimum credit score requirement of 580.

MoneyGeek's analysis covered 13 HELOC lenders in Wisconsin. Although other lenders exist in the state, they were not included in this particular study. Wisconsin homeowners might find unique advantages with local lenders such as TruStone Financial, UW Credit Union and Educators Credit Union, which also provide HELOC options.

Best HELOC Lenders in Wisconsin

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

In our research, we evaluated each lender against a rubric that included APR ranges, annual fees and affordability, among other factors.

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

13Lenders Analyzed

    Overall Best HELOC Lender in Wisconsin

  • 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 HELOC lender for homeowners in Wisconsin. Lower offers a competitive APR range of 8.75% to 13.5%, permitting a broad spectrum of borrowers to access funds. It sets a friendly stage for many by accepting a minimum credit score of 580. With loan amounts ranging from $15,000 to $500,000, it caters to diverse needs, from small projects to substantial renovations. Access to this lender's information is straightforward, assuring transparency for prospective clients. Personalized support is available after submitting an online application, which can be beneficial for individuals navigating the HELOC process for the first time.

    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 Wisconsin by Credit Score

If you're a homeowner in Wisconsin considering a home equity line of credit (HELOC), remember the APR varies by credit scores, LTV ratios and the repayment terms you choose. Refer to the table below to understand how these factors affect your rates. Even with high credit scores and an LTV ratio below 80%, rates can differ significantly.

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 looking for a HELOC in Wisconsin, comparing APRs from various lenders pays off. Lower APRs mean you could save on interest over time, making borrowing more affordable. Factors like your credit score and home equity influence your rate, so shop around to find a deal that best fits your financial situation. This approach can lead to a smoother borrowing experience with fewer surprises.

HELOC Calculator: Do You Qualify in Wisconsin?

In Wisconsin, if your home equity is high, you might be able to borrow more. This is based on a study by TransUnion. Meanwhile, the average credit score in the state is 737, as cited by Experian. If your score is around this mark, you're likely in a good position for a HELOC.

Eligibility for a HELOC in Wisconsin isn't solely about equity and credit score; other factors play a part, too. To get a clearer picture, use the HELOC calculator provided. This handy tool can help you gauge your standing by adjusting various variables, offering insight into your search for the right HELOC lender.

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 Wisconsin 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 Wisconsin homeowners looking for a HELOC lender that supports cost-saving measures. Its offers include no annual fees and a 0.25% rate discount with autopay, aligning with homeowners' affordability priorities. Aven's product is a hybrid HELOC, functioning as a credit card backed by your home's equity, reflected as a HELOC on your credit report. With APRs ranging from 7.99% to 15.49%, it caters to a wide financial scope, ensuring homeowners find a match for their budgets.

    Pros

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

    Cons

    • Limited line of credit to $250,000
    • Card delivery can take 10 days
    • One-time 2.5% cash-out fee
    Aven

How does MoneyGeek recommend lenders for affordability?


    Best HELOC Lender in Wisconsin 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

    In Wisconsin, finding a HELOC lender that accepts bad credit can be a hurdle, but it's not impossible. U.S. Bank accommodates homeowners with lower credit scores, requiring a minimum of 660 for its HELOC. With an APR range between 8.95% to 13.1%, it also offers a competitive upper limit on interest rates. Additionally, U.S. Bank provides incentives like a 0.5% discount for setting up autopay, which can help reduce costs over time. For homeowners in Wisconsin, this means access to funds tied to home equity with manageable terms despite credit challenges. Plus, U.S. Bank is accredited by the BBB, adding an extra layer of trust to its services.

    Pros

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

    Cons

    • Closing only at financial centers
    • Early closure fee up to $500
    • Annual fee of $75
    U.S. Bank

How does MoneyGeek recommend lenders for those with bad credit?


    Best HELOC Lender in Wisconsin 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 pick for homeowners in Wisconsin seeking large HELOCs. It offers a line of credit up to $1 million, giving you the financial flexibility to fund big projects or expenses. Additionally, the combination of a 10-year draw period and a 20-year repayment term provides the time needed to manage your finances without rush. Notably, it doesn't charge annual fees, which can be a relief when borrowing substantial amounts. Multiple discount options and the absence of application and closing costs make it attractive for fiscally savvy borrowers. The hardship assistance feature offers support during tough times, ensuring users' peace of mind.

    Pros

    • Competitive introductory rate (6.99%) for six months
    • Offers multiple discounts
    • No application or annual fees

    Cons

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

How does MoneyGeek recommend lenders for large loan amounts?


    Best HELOC Lender in Wisconsin 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 top choice for Wisconsinites looking to consolidate debt, such as credit card balances or personal loans using a HELOC. A desirable lender offers a HELOC with lower interest rates than your current debts, provides speedy fund access and has enough limits to cover your outstanding balances. PNC Bank fits this bill perfectly, offering an APR range from 8.22% to 14.5%, allowing quick funds access within three days after closing, and enabling homeowners to borrow between $10,000 and $1 million. Homeowners can benefit from the ability to toggle between variable and fixed rates and enjoy fewer fees with reimbursements for certain closing costs. Plus, applying for autopay from a qualifying PNC checking account can reduce APR by 0.25%.

    Pros

    • Switch between variable and fixed rates
    • Borrow up to $1 million
    • Assistance during financial hardship

    Cons

    • Charges a $50 annual fee
    • Does not disclose most information
    • Charges a fee for rate lock changes
    PNC Bank

How does MoneyGeek recommend lenders for debt consolidation?

How to Choose a HELOC Lender in Wisconsin

MoneyGeek has shared top picks for Wisconsin HELOC lenders. Yet, you might fancy checking out alternatives yourself. Follow these strategies to navigate the selection process with ease and find a lender that aligns with your needs in Wisconsin.

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    Define your HELOC Goals

    Understanding why you want a HELOC determines your lender choice in Wisconsin. Need it for renovations or tuition? Some lenders favor certain uses, leading to better terms for your situation. Always ask lenders if they have preferences or special offers based on the HELOC's purpose.

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    Investigate Lender Reputation

    Always check a lender’s reputation. Research their history with the Better Business Bureau and consult the Wisconsin Department of Financial Institutions. These ensure you're dealing with a reputable provider, protecting your financial interests.

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    Compare Rates and Fees

    Don't just look at interest rates—review HELOC fee structures, like closing costs. Some lenders in Wisconsin offer lower rates but have higher fees. Make a thorough comparison to see what works best for you.

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    Check Community Standing

    A lender’s local reputation can be a good trust indicator. Check their community involvement, awards or testimonials from Wisconsin borrowers. Positive local feedback can be a significant endorsement.

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    Assess Lender Flexibility

    Flexibility is key. Does the lender offer online prequalification or the option to convert variable rates to a fixed-rate HELOC? Can they accommodate interest-only payments? These options may greatly benefit your financial situation in Wisconsin.

FAQ: HELOC Lenders and Rates in Wisconsin

Navigating HELOC choices in Wisconsin can be easier with the right know-how. We answer frequent questions, offering insights that simplify the decision-making process for borrowers and ensure they find the lender that best aligns with their financial goals and needs.

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