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Home Equity

North Carolina HELOC Rates and Lenders

Finding the best HELOC rates in North Carolina can save you thousands of dollars in interest over the life of the loan, so it pays to compare your options. Whether you’re looking for an online or local lender, these are the best HELOC lenders in the Tar Heel State:

Best for…
Rating (0-5)
Best overall
Best credit union
Best marketplace

Best online HELOCs in North Carolina

Home equity lines of credit from online lenders tend to have easier digital applications and quicker funding times compared to local options. They may also have more lenient credit score requirements. 

The LendEDU team found these lenders to have the best online HELOCs for North Carolinians. 


Best overall

4.9 /5
LendEDU Rating

Why we picked it

  • 100% online application
  • Funding in as soon as 5 days
  • Rate discounts for autopay and credit union members

Figure is the best online lender overall because it has the right mix of speed, convenience, and competitive interest rates. Thanks to its online application, no in-person appraisal is needed, and you can check your rates without affecting your credit score. 

Unlike other options on our list, Figure’s HELOCs have fixed interest rates that make it easy to predict your monthly payments.

HELOC details
Rates (APR)8.80%17.45%
Loan amounts$15,000 – $400,000
Draw period2, 3, 4, and 5 years
Repayment term5, 10, 15, and 30 years
Funding timeAs soon as 5 days
PropertiesSingle-family residences, townhouses, planned urban developments (PUDs), and most condos. Must be primary or secondary residence
Min. credit score620

Bethpage FCU

Best credit union

4.7 /5
LendEDU Rating

Why we picked it

  • 12-month intro rate of 6.99% for VantageScores of 720 and up; then a variable rate
  • Borrow $10,000 – $1 million
  • No application, origination, or appraisal fees

Bethpage is the best online HELOC lender if you’re looking for introductory rates or that personalized touch credit unions are known for. The lender has zero origination, appraisal, and application fees and will pay closing costs on loans up to $500,000. 

You can also convert part of your balance to a fixed rate for more predictable monthly payments.

HELOC details
Rates (APR)Starting at 8.50%
Loan amounts$10,000 – $1 million
Draw period10 years
Repayment term5, 10, or 20 years
Funding time6 – 10 weeks
PropertiesNot specified
Min. credit score670


Best marketplace

4.5 /5
LendEDU Rating

Why we picked it

  • Shop with multiple lenders at once without affecting your credit score
  • Compare quotes for HELOCs and home equity loans
  • Free to use

LendingTree is a national marketplace where you can prequalify with multiple HELOC lenders at the same time without harming your credit score. 

Based in Charlotte, North Carolina, it’s an excellent way to save time and money if you’d rather not apply to individual lenders.

HELOC details
Rates (APR)Starting at 6.99%
Loan amounts$10,000 – $2 million
Draw period2 – 20 years
Repayment term5 – 30 years
Funding timeVaries by lender
PropertiesSingle-family homes, townhomes, condos, multi-family homes, manufactured and mobile homes
Credit scoreVaries by lender

Local HELOCs in North Carolina

Local lenders are based in North Carolina, so they specialize in offering HELOCs to people in your area. They know the ins and outs of the local market and may be more focused on building a long-term relationship with you as a customer or working with you if you have an unusual situation. 

The LendEDU team found these three local lenders to have the best HELOC rates in North Carolina: 

CompanyRates (APR)*Location
Coastal Credit Union8.10% – 13.95%Raleigh, NC
Peoples Bank 8.50% – 16.00%Newton, NC
State Employees’ Credit Union7.50% – 18.00%Raleigh, NC
Rates in June 2024.

At the time of writing, State Employees’ Credit Union has the lowest starting rate at 7.50% APR, which you could qualify for with excellent credit. But Coastal Credit Union has the lowest maximum rate at 13.95%, which could be better for bad credit. 

In addition to interest rates, some lenders in North Carolina may offer other appealing benefits, such as no-closing-cost loans, fixed APRs, introductory offers, or longer repayment terms.

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

Your two main options for HELOCs in North Carolina are local lenders and online lenders. The main difference is what each lender focuses on. 

Local lenders, including Coastal Credit Union, Peoples Bank, and State Employees’ Credit Union, know North Carolina like the back of their hand. They get the local economy and housing market, which can work in your favor if you have a unique financial situation. 

However, online lenders, such as Figure, Hitch, Bethpage, and LendingTree, often offer faster funding times and a smoother application process. You could also be looking at lower fees and competitive rates. 

At the end of the day, it’s all about shopping around with both local and online lenders. An online lender might be the way to go if you’re all about convenience and speed. But a North Carolina-based lender could be better if you’re into face-to-face banking or a small-town touch.

How do North Carolina HELOC rates compare to other states? 

The national average HELOC rate is 9.17% as of May 2024. Because the federal funds rate or prime rate influences HELOC rates, you can expect interest rates to generally be about the same from state to state. 

Based on the top lenders we found, rates in North Carolina tend to range from 7.50% to 18%, which falls within the current average range. If you live in North Carolina, you may pay more or less for a HELOC than in other states, depending on your credit score, income, and home equity. 

That’s why shopping around is so important—you might be able to snag a better deal regardless of where you live. For instance, LendingTree’s rates start at just 6.99% APR, which is lower than the average range in North Carolina.

How to get the lowest HELOC rates in North Carolina

If your primary goal is to get the lowest possible HELOC rates in North Carolina, you can take these four actions to polish up your application:

  1. Focus on your credit score. Ideally, you’ll want a credit score of at least 780 to get the absolute lowest rates. But the higher your score, the better. You can try boosting your score by keeping your credit card balances low, continuing to make your payments on time, and combing through your credit report for errors that could be dragging it down.
  2. Borrow less. You can usually borrow up to 80% of your home’s value with a HELOC. But the less you borrow, the less risky you will be to lenders, and the better rate you may get. 
  3. Watch your debt-to-income ratio. Your DTI is your total monthly debt payments divided by your monthly income. Ideally, you want your debt to be less than 43% of your income. 
  4. Shop with multiple lenders. You’ll never know if a lender is offering you the best HELOC rates in North Carolina unless you compare those rates to other offers. Most lenders let you check HELOC rates without dinging your credit, and you can use LendingTree or another marketplace to save time.

Are there any North Carolina-specific requirements or regulations?

The North Carolina Secure and Fair Enforcement Mortgage Licensing Act (NC SAFE Act) requires all loan originators to be licensed and registered and to disclose their identity to you as a borrower. Each lender has a unique identifier that should be clearly listed on any loan documents, advertisements, or websites you view. 

Also, the NC SAFE Act prohibits lenders from charging early prepayment penalties on loans up to $150,000. So if your loan is up to this amount, you shouldn’t be penalized for paying it off early.

Aside from these state-specific rules, all HELOC borrowers have a three-day right of rescission. This rule gives you three business days after signing to cancel your HELOC for any reason whatsoever. So if you have second thoughts, don’t be afraid to exercise this right.


What credit score do you need for a North Carolina HELOC?

A HELOC in North Carolina generally requires a credit score of at least 620. Higher credit scores can secure better rates and terms. Lenders may also consider your debt-to-income ratio and overall financial health.

What are the typical fees for a North Carolina HELOC?

Typical fees for a North Carolina HELOC include an application fee, an annual maintenance fee, and closing costs. Depending on the lender, these fees range from $200 to $1,000. Some lenders may waive certain fees as part of promotional offers.

Are there any special programs or incentives for North Carolina HELOCs?

Yes, several lenders offer special programs or incentives for HELOCs in North Carolina. These can include lower introductory rates, no closing costs, or discounts for current customers. It’s worth shopping around to find these offers.

How we chose the best personal loans in North Carolina

LendEDU evaluates personal loan lenders to help readers find the best personal loans. 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 North Carolina.

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 North Carolina HELOC rates and lenders

Best for…
Rating (0-5)
Best overall
Best credit union
Best marketplace