Best Virginia HELOC Lenders and Rates [2026]

If you’re a homeowner in Virginia, tapping into your home equity with a HELOC can be a smart way to fund home improvements, consolidate debt, or cover major expenses. With property values steadily rising in Northern Virginia and Richmond, many homeowners are sitting on significant equity that they can leverage for larger loan amounts.

HELOC rates in Virginia may be lower than the national average, with some starting as low as 6.10%. Virginia’s unique housing market, with its restrictive zoning laws and high demand, means home equity can fluctuate. But for those in appreciating areas, such as Alexandria or Arlington, a HELOC offers flexible access to funds while taking advantage of your home’s increased value. These are the top-rated HELOC lenders in Virginia for 2026.

Reviews of the best HELOC lenders in Virginia

These are the top-rated HELOCs for Virginia residents.

Figure

Best Overall

4.9 _/5

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Why it’s one of the best for Virginia residents

Figure is our top pick for a HELOC due to its blend of competitive fixed rates, quick funding, and flexible terms. 

Advanced technologies such as blockchain and AI ensure a fast and efficient approval process, with funds available in as few as five days. This makes Figure ideal for borrowers seeking quick and reliable access to home equity without the traditional banking hassle.

• 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)	8.35% – 16.55%
Funding amount	$15,000 – $400,000
Repayment terms	Draw: 2 – 5 years / Repayment: 5, 10, 15, or 30 years

Figure Disclosures

1. The Figure Fixed Rate Home Equity Line is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
2. Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary, and where loan amounts are under $400,000 which would not require an appraisal. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing, or that require a waiting period prior to closing, or where loan amounts exceed $400,000.
3. To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
4. A Figure HELOC is secured with your home as collateral, whereas personal loans and credit cards are not.
5. Our loan amounts range from a minimum of $15,000 to a maximum of $750,000. For properties located in AK, the minimum loan amount is $25,001 and for properties located in TX, the minimum loan amount is $35,000. Your maximum loan amount may be lower than $750,000, and will ultimately depend on your home value, lien position, credit profile, verified income amount, and equity available at the time of application. We determine home value and resulting equity through independent data sources and automated valuation models or appraisal. Loan amounts above $400,000 are subject to appraisal.
6. Available initial APRs range from 6.65% to 15.25%, which includes the payment of a higher origination fee in exchange for a reduced interest rate, which is not available to all applicants or in all states. The lowest APRs are only available to the most qualified applicants, depending on credit profile and the state where the property is located, and those who also select ten year loan terms; APRs will be higher for other applicants and those who select longer loan terms. Your actual rate will depend on many factors such as your credit, combined loan-to-value ratio, loan term, occupancy status, and whether you are eligible for and choose to pay a higher origination fee in exchange for a lower rate. Rates change frequently so your exact APR will depend on the date you apply. Additionally, for the variable rate HELOC, the APR is based on an interest rate index and the credit agreement margin, and an increase or decrease of the index value will cause a corresponding increase or decrease in the variable APR after account opening subject to a rate floor and rate cap, and your monthly payments may increase or decrease as the APR changes. APRs for home equity lines of credit do not include costs other than interest. You will be responsible for an origination fee of up to 4.99% of your initial draw, depending on the state in which your property is located and your credit profile. You may also be responsible for paying the costs of valuation if an AVM is not available for your property ($180), or an appraisal if your loan amount exceeds $400,000 ($500-$2,000, depending on property type, property value, and state), manual notarization if your county doesn’t permit eNotary ($350), and recording fees ($0 – $315) and recording taxes, which vary by state and county ($0-$1,400 per one hundred thousand dollars borrowed). Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone.
7. You should consult a tax advisor regarding the deductibility of interest and charges to your Figure Home Equity Line.
8. The Figure Variable Rate Home Equity Line is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on the selected rate at application and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the initial draw, plus a stated margin; however, the rate and payment will adjust monthly based on the market and the fluctuation of the Index subject to a Rate Cap and Rate Floor. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. The index can change at any time and the unpaid balance of all draws are subject to the monthly variable rate. Accordingly, variable rates are based on the market and may change after account opening. This product is not available in: MA, VA, MS, IL, WI, VT, DC, OK, TX, NY, CO, WY, WV, SC.

FourLeaf FCU

Best Credit Union

4.7 _/5

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Why it’s one of the best for Virginia residents

While FourLeaf may not be the fastest lender, its HELOC can be an excellent option for Virginia homeowners looking to save on fees.

As a credit union, FourLeaf is member-focused, meaning it offers benefits that can be hard to find with traditional banks. For instance, credit unions may provide lower interest rates and more flexible terms, and FourLeaf is no exception.

FourLeaf’s commitment to its members ensures a personalized experience that can benefit borrowers seeking flexibility and cost savings.

• Appraisals are generally only required for HELOCs above $400,000 or combined loan-to-value ratios above 75%
• 12-month fixed introductory rate for qualified borrowersⓘ
• $0 application, origination, and appraisal fees
• $0 closing costs
• Convert some or all of your HELOC into a fixed-rate loan at no cost

• Must join the credit union by depositing $5 in a savings account if approved for a HELOC
• Typical funding speeds of 6 – 10 weeks on average 

Rates (APR)	6.99% for 12 months for qualified borrowers, then variable starting at 6.75%ⓘ
HELOC amounts	$10,000 – $1 million
Repayment terms	10-year draw; 20-year repayment

LendingTree

Best Marketplace

4.5 _/5

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Why it’s one of the best for Virginia residents

LendingTree isn’t a direct lender but a valuable comparison tool for Virginia homeowners seeking the best HELOC or home equity loan. By partnering with a wide network of lenders, LendingTree allows Virginians to quickly compare multiple offers with a single online application.

This feature is especially useful in a diverse housing market such as Virginia’s, where options and rates can vary significantly between urban areas, including Alexandria, and rural regions. For those considering both HELOCs and home equity loans, LendingTree makes it easy to find the best terms that suit your specific financing needs.

• Compare multiple lenders
• See offers without affecting your credit
• Borrow up to $2 million

Rates (APR)	Starting at 6.99%
HELOC amounts	$10,000 – $2 million
Repayment terms	5 – 30 years

How your HELOC rate affects your overall loan cost

Most HELOCs have variable rates, which means your borrowing costs can fluctuate over time. While it’s impossible to predict exactly where HELOC rates will go, let’s look at how interest rates can affect your payments and total loan cost. HELOC rates may start anywhere between 6.30% and 15.70%, and we’ll use these figures to show two possible scenarios.

If you borrow $25,000 with a 10-year draw period and a 10-year repayment period, here’s how your payments and total interest costs could differ based on the interest rate environment:

These figures show how much interest rates can affect your HELOC payments and total costs. Keep in mind that with a variable-rate HELOC, your rates (and therefore your payments) will fluctuate over time, so these amounts could change.

If you secure a HELOC while rates are high, you may initially benefit from lower interest-only payments during the draw period. However, if rates decrease during the repayment period, you could end up paying less overall than someone who locked in a high fixed rate with a home equity loan.

How to get the lowest HELOC rates in Virginia

Lenders tend to look at the same factors when you apply for a HELOC in Virginia as anywhere else in the country. 

Three of the most important factors include:

• Credit score: 720 or higher
• Home equity: 80% to 90% combined loan-to-value ratio (CLTV)
• Debt-to-income ratio: 43% or less

The better you score in each category, the better your odds of finding the lowest rates. For example, if your credit score is 800, and 10% of your monthly income goes toward debt, you may get better HELOC offers than someone with a lower credit score struggling to make their debt payments each month. 

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Tip

It’s important to shop around for rates before you commit to a particular lender. Every HELOC’s pricing and options will be unique, and the lender can provide you with an exact quote before you sign on the dotted line. 

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Virginia residents benefit from a higher average credit score than the rest of the country (721 vs. 714), as well as home equity values that have risen steadily. 

Erin Kinkade, CFP®, generally advises against borrowing money in a high-rate environment but acknowledges it could work for certain borrowers:

Borrowing money during a high-interest-rate environment isn’t ideal, but when home prices are rising, it could make sense for some individuals. For example, those who want to sell their home and move to a similar area with the same housing costs could find it difficult to sell their home due to the high interest rates we are currently experiencing. 

Instead of selling, the decision to apply for a HELOC to make improvements or changes to their current home could be a viable option to meet the goal of having the features they were planning to look for in a new home. In addition, if the borrower has a steady income and excellent credit, they may be able to obtain the most favorable interest rate. And if analysts think interest rates will decline at some point in the near future, it may be wise to select a variable-rate HELOC so you benefit from the lower-rate environment.

Erin Kinkade, CFP®

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How to apply for a HELOC in Virginia

Applying for a HELOC takes a longer than most other loan types because you’re using your home as collateral. That takes more time to sort out. You can expect the process to take two to six weeks with most lenders. 

Virginia homeowners can help speed things up throughout the HELOC application process:

1. Prepare your application: Obtain a copy of your credit report from each bureau and check it for errors. (Dispute errors with the credit bureau reporting them.) Check your credit score so you know whether you’re eligible for a HELOC with each lender. Finally, gather the documents you’ll need to qualify for a HELOC. 
2. Gather quotes: Prequalify with at least three lenders offering HELOCs in Virginia. This usually involves a soft credit pull, which won’t affect your credit score. The final hard credit inquiry—which can cause temporary credit score damage—will come later. 
3. Apply with the best lender: Choose the best HELOC offer from the lenders you checked with, and complete a full HELOC application. You’ll need to submit your documents and any other details the lender requests during the underwriting period.
4. Sign the HELOC agreement: If you’re approved, your lender will send you a final HELOC contract to sign at a scheduled closing. Be sure you read through everything; HELOCs can vary, so you should understand all the terms. 

FAQ

What is the lowest HELOC rate in Virginia?

Figure offers the lowest HELOC rates in Virginia from among our featured lenders. Depending on your qualifications, you could pay rates as low as 6.10%—far below the HELOC rates in Virginia that most other lenders charge. 

What is the current average HELOC rate in Virginia?

The top lenders on our list charge HELOC rates from 6.10% to 8.75% for qualified applicants. Nationwide, the average HELOC rates are 8.40% at credit unions and 8.55% at banks (as of October 2024). 

Will my Virginia HELOC have insurance requirements?

Yes. You will typically need to carry homeowners insurance and flood insurance, if applicable, to be eligible for a HELOC. Lenders require this because you’re using your home as collateral for the HELOC, so they want to know their investment is protected if a hurricane or tornado blows in. 

Recap of the best HELOC lenders in Virginia