Nevada HELOC Rates and Lenders

The average Nevada homeowner gained an additional $35,000 in home equity over the last year. If you’ve been looking for a flexible way to borrow money at a low rate, now could be the perfect time to open a HELOC. 

HELOCs are some of the most popular options for tapping into your home equity, but it’s important to choose the right lender since it dictates your HELOC costs and terms. To help you choose, we’ve rounded up the best options for Nevada HELOCs from online and local lenders.

Reviews of the best online HELOCs in Nevada

Online lenders are often much faster and easier to work with, offering a more abundant range of HELOC options. There are simply more lenders to choose from online than if you’re sticking with someone local. Here are some of the top online lenders offering Nevada HELOCs. 

Figure

Best overall

4.9 _/5

View Rates

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Why we picked it

Figure offers a fully digital application process, which significantly speeds up the approval and funding times compared to traditional lenders. 

Additionally, it provides competitive fixed interest rates, making it easier for borrowers to manage their payments without worrying about fluctuating rates. 

Figure employs blockchain and artificial intelligence (AI) for rapid approvals and disbursement of funds, offering a technologically advanced solution for borrowers with strong credit profiles.

• Fixed interest rates
• No in-person appraisal is needed
• Option to redraw up to 100% of funds
• Funding can be available in as few as 5 days
• Check your rate without affecting your credit score

Loan details

Rates (APR)	6.24% – 15.80%
Loan amounts	$10,000 – $2 million
Draw period	2 – 20 years
Repayment term	5 – 30 years
Funding time	Varies
Properties	Varies
Credit score	Varies, 620 advisable

Bethpage FCU

Best credit union 

4.7 _/5

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Why we picked it

Bethpage is a highly reputable credit union known for its member-focused services and competitive HELOC rates. It offers a unique option to convert a part of your HELOC to a fixed-rate loan, which provides flexibility and stability. 

Additionally, it charges no application, origination, or appraisal fees, making it a cost-effective option for many borrowers. With a fixed introductory rate for qualified borrowers and zero closing costs, Bethpage is a strong choice for those seeking reliability and low fees.

• Borrow $10,000 – $1 million
• No application, origination, or appraisal fees
• Convert part of your HELOC to a fixed-rate option
• 12-month fixed introductory rate for qualified borrowers
• $0 closing costs

Loan details

Rates (APR)	7.24% for 12 months, then variable
Loan amounts	$10,000 – $1 million
Draw period	10 years
Repayment term	5, 10, or 20 years
Funding time	36 – 70 days, on average
Properties	Primary homes, second homes, or condos
Credit score	670

LendingTree

Best marketplace

4.5 _/5

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Why we picked it

LendingTree stands out as a marketplace that connects borrowers with multiple lenders, ensuring they can compare various offers to find the best rates and terms. 

This comprehensive comparison tool allows for a more personalized and competitive borrowing experience. It’s particularly useful for borrowers who want to ensure they are getting the best possible deal without spending too much time shopping around. 

LendingTree provides access to a wide range of loan amounts and terms, catering to diverse financial needs.

• Access to multiple lenders
• Comprehensive comparison tools
• Competitive rates
• Customizable loan options

Loan details

Rates (APR)	Starting at 6.24%
Loan amounts	$10,000 – $2 million
Draw period	2 – 20 years
Repayment term	5 – 30 years
Funding time	Varies
Properties	Varies
Credit score	Varies, 620 advisable

Local HELOCs in Nevada

Sometimes you just can’t beat being able to walk into a local branch and talk to someone directly, especially if you run into any problems or have a unique situation. That’s one of the biggest benefits of working with a local lender—it may have specialized knowledge about issues in your area.

Company	Rates (APR)	Location
Greater Nevada Credit Union	8.50% – 18.00%	Carson City, NV
One Nevada Credit Union	8.75% – 18.00%	Las Vegas, NV
Nevada State Bank	9.25% – 11.75%	Las Vegas, NV
Clark County Credit Union	8.50% – 18.00%	Las Vegas, NV

Credit unions generally offer lower rates than banks, and that’s true here, too. However, you’ll need to become a member first, which usually involves meeting membership criteria and setting aside $5 in a savings account. You can check your rate before you join, though.

What’s the difference between online and local HELOCs in Nevada?

No matter which lender you go with, they’ll need to estimate your home’s value to calculate your loan amount. This means getting an appraisal, and there are a few ways of doing it. 

Local lenders, such as Clark County Credit Union, generally require a full in-person appraisal, which you’ll have to pay for as a part of your closing costs. Online lenders may be more likely to offer remote appraisals, which are cheaper and quicker to get, although slightly less accurate.

In addition, you have fewer choices regarding local lenders offering Nevada HELOCs. Many local banks and credit unions don’t offer them at all. If you’re willing to take out a HELOC with a lender from anywhere in the country, though, your options go up dramatically. 

How do Nevada HELOC rates compare to other states?

HELOC rates don’t vary much by state. In December 2023, the average HELOC borrower paid an interest rate of 10.04%. 

Instead, HELOC rates tend to vary more across different lenders and are impacted more by your qualifications, how much you plan to borrow, etc. than by which state you live in. 

How to get the best HELOC rates in Nevada

Nevada HELOCs generally require the same qualifications as HELOCs in other states, although each lender is free to be more or less stringent. Here are the general requirements with most Nevada lenders:

• Credit score: 620 or higher. Nevada residents generally have a lower-than-average credit score (702 vs. 715 nationwide), so this is one area many people can work on.
• Home equity: 10% or more. Between a HELOC and a mortgage, most lenders only allow you to borrow up to 90% of your home’s value. 
• Debt-to-income ratio: 43% or less. Lenders divide your monthly debt payments by your total income to make sure you have enough left over to pay your other bills and living expenses. 

The better your numbers in these three categories, the higher your chances of getting the best rates on a HELOC for your Nevada abode. It’s also a good idea to get a quote from many different lenders and compare their rates, fees, and features. 

If you can take some time before you apply for a HELOC, it’s also a good idea to work on building your credit, paying down debt, and boosting your income.

Are there any Nevada-specific requirements or regulations?

Nevada has some general lending laws that apply to most loans in the state, including HELOCs. Notably, Nevada doesn’t limit the maximum interest rate a lender can charge you for a HELOC. That’s important to pay attention to since HELOC rates are variable and can increase over time. 

Before you take out any Nevada HELOCs, check your loan documentation for the lifetime rate caps, which set upper bounds on how much you’ll have to pay. Also, check the periodic interest rate caps and how often they might adjust. This will tell you how much your monthly payment may change with each step. 

Expert take: What to know about variable interest rates with no state rate cap

Chloe Moore

CFP®

Taking out a HELOC with a variable interest rate can be risky, as your payments can increase when the interest rate increases. This could make budgeting difficult, and if the increased payment becomes unaffordable, you’re at risk of losing your home. When considering any home equity loan, make sure the loan fits within your budget and you have a plan to pay it off. 

FAQ

What credit score do you need for a Nevada HELOC?

The credit score required for a HELOC in Nevada can vary depending on the lender. Generally, you need a minimum credit score of 620 to qualify, though some lenders might require a higher score, such as 640 or 670, to offer better rates and terms. Higher credit scores typically result in lower interest rates and more favorable loan conditions.

What are the typical fees for a Nevada HELOC?

Typical fees for a Nevada HELOC can include application fees, origination fees, appraisal fees, and annual maintenance fees. Some lenders may also charge closing costs and early termination fees if you pay off the HELOC early. 

However, many lenders, especially credit unions like Bethpage FCU, offer HELOCs with no application, origination, or appraisal fees, and some may cover closing costs for loan amounts under a certain threshold.

Are there any special programs or incentives for Nevada HELOCs?

Yes, some lenders in Nevada offer special programs or incentives for HELOCs. These can include introductory low-interest rates, rate discounts for setting up automatic payments, and zero-fee options. 

For instance, Bethpage FCU offers a 12-month fixed introductory rate and no closing costs for loans under $500,000. It’s important to compare different lenders to find the best programs and incentives that meet your needs. Additionally, some local credit unions and banks might offer special rates or terms for members or specific community programs.

How we chose the best Nevada HELOC lenders

LendEDU evaluates HELOC lenders to help readers find the best HELOCs. Accessibility is important to this evaluation, so our editorial ratings system primarily focuses on companies available in most U.S. states. That’s why the lenders we selected in the online section have editorial ratings. They’ve gone through an extensive review process and were determined to offer superior products compared to other lenders. We’ve also independently verified that these companies are available in Nevada.

Since most local lenders aren’t available outside state lines, they haven’t gone through the same review process as the online lenders. Instead, we found them through separate research and determined that each offered solutions worthy of consideration by readers.

Recap of Nevada HELOC rates and lenders