The Best HELOC Rates and Lenders in Wyoming

Bank of America is MoneyGeek's top recommendation for HELOC lenders in Wyoming. The lender offers one of the lowest introductory variable APRs at 1.99% for the first six months, then charges 4.35% moving forward.

Since Bank of America offers loans up to $1 million, or up to 80% of your home’s worth, it is the best option for borrowers searching for higher home equity lines of credit. If you're a Bank of America customer and set up automatic withdrawals from an eligible account, you can receive interest rate savings.

However, you could be better off with another home equity line of credit provider because Bank of America does not disclose upfront the minimum credit score needed to apply.

Pros

• No application and closing costs
• Relatively low introductory APR
• No annual fees
• Autopay discount
• High maximum loan amount

• APR: 1.99% for six months; 4.35% thereafter
• Loan Amount: $25,000–1,000,000
• Repayment Terms: 10-year draw period; 20-year repayment period
• Minimum Credit Score: Not specified
• Annual Fees: None
• Pre-Approval Time: Not specified

Because it offers potentially low interest rates, U.S. Bank is a great provider of home equity lines of credit for homeowners with good credit and a personal checking account. Similar to other HELOCs, U.S. Bank's has a variable rate, but it also includes a fixed-rate option.

When applying for a home equity line of credit, one of U.S. Bank's most appealing features is that it considers your whole credit history.

Despite being a highly regarded lender in Wyoming, U.S. Bank may not be suitable for everyone. A different home equity line of credit lender may be available if your credit score is below 730 or you do not want to pay a $90 yearly fee.

Pros

• No application fees
• Autopay discount
• Offers low fees
• Provides fixed-rate option
• No closing costs

• APR: 4.20%–9.35%
• Loan Amount: $15,000–750,000
• Repayment Terms: 10-year draw period; unspecified repayment period
• Minimum Credit Score: 730
• Annual Fees: $90
• Pre-Approval Time: Not specified

For Wyoming residents with a credit score of 620 or better, MoneyGeek found that Figure is a great provider of home equity lines of credit. Wyoming residents that have bad credit can borrow up to $400,000 with Figure, which is a fair sum for people with poor credit scores.

With Figure, you can become prequalified in a matter of minutes and receive funds in as little as five days.

A Figure HELOC offers a fixed rate as opposed to an adjustable rate, which could save you money when interest rates are rising. However, for homeowners who would like to avoid paying origination or recording fees, it isn't the best option. Plus, since Figure only lends to approved homes, you might also wish to see if your property qualifies before applying.

Pros

• Available for those with fair or poor credit
• Pre-approval done within 24 hours
• Credit union membership discount of 0.50%
• Disbursement of funds in as few as five days
• Provides 0.25% autopay discount

• APR: Starts at 3.24%
• Loan Amount: $15,000–400,000
• Repayment Terms: 5 to 30 years
• Minimum Credit Score: 620
• Annual Fees: None
• Pre-Approval Time: 24 hours

MoneyGeek named PenFed Credit Union as the HELOC lender in Wyoming that offers the most competitive rates thanks to its incredibly low six-month 0.99% introductory APR.

The PenFed HELOC has affordable interest rates and a variety of borrowing options with a $1,000,000 maximum. For clients wanting to borrow a lot of money, this makes PenFed’s HELOC an attractive product.

However, a $99 annual fee will be assessed on each anniversary of the account if $99 in interest was not paid in the previous 12 months. PenFed does require membership, but the terms are flexible. As a result, its home equity line of credit might be worth the extra effort.

Pros

• First six months feature 0.99% APR
• Offers fixed-rate option
• Loan amount up to $1,000,000
• Interest-only payments during the 10-year draw period
• Somewhat low credit score requirement

• APR: 0.99% for first six months; 4.25%–18% thereafter
• Loan Amount: $25,000–1,000,000
• Repayment Terms: 10-year draw period; 20-year repayment period
• Minimum Credit Score: 660
• Annual Fees: $99
• Pre-Approval Time: Not applicable