Louisiana HELOC Rates and Lenders

If you’re looking for a home equity line of credit (HELOC) in Louisiana, comparing rates from multiple lenders can help you save significant money. While online lenders tend to offer competitive rates, some local lenders offer introductory rates below the national average HELOC rate.

To help you find the best HELOC option in Louisiana, we created a list of the top online and local lenders based on rates, fees, and loan amounts.

Best online HELOCs in Louisiana 

Choosing an online HELOC lender in Louisiana offers several benefits over local options. Online lenders often provide more competitive rates, streamlined application processes, and faster funding times. 

They leverage technology to simplify the borrowing experience, making it easier to compare multiple offers and find the best fit for your financial needs. Many online lenders have lower overhead costs, allowing them to pass on savings to customers through lower fees and better rates.

Figure

Best Overall

4.9 _/5

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Why we picked it

Figure stands out as the best overall online HELOC lender in Louisiana due to its efficient application process and competitive rates. 

The company leverages technology to streamline the entire borrowing experience, offering a digital application you can complete in minutes. This efficiency extends to its funding times, with many borrowers getting funds in as few as five days—much faster than traditional banks.

Figure’s transparent pricing and lack of hidden fees make it an attractive option for Louisiana residents looking for clarity and fairness in their loan terms. The flexibility in draw periods and repayment terms allows borrowers to tailor their HELOC to their specific financial situation, whether they need a short-term loan or a longer repayment period.

• Get funds in as few as five days, much faster than many competitors.
• User-friendly digital platform simplifies the application process, making it accessible and easy to navigate.
• Clear pricing with no hidden costs offers peace of mind to borrowers.
• Multiple draw periods and repayment options to suit different financial needs

Loan details

Rates (APR)	6.55% – 15.54%
Loan amounts	$15,000 – $400,000
Draw period	5 years
Repayment term	5, 10, 15, or 30 years
Funding time	As few as 5 days
Properties	Primary home, second home, or investment property
Credit score	640

Aven

Best Customer Reviews

4.8 _/5

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Why we picked it

We picked Aven for Louisiana homeowners because its AvenCash HELOC blends cutting-edge technology with flexible, borrower-friendly terms. With home values steadily rising in Louisiana, Aven makes it easy to tap into your equity with a fully digital process that requires no in-person appraisal.

AvenCash offers competitive fixed interest rates from the start, giving you stability and predictability for your monthly payments, which is essential for homeowners looking for long-term financial planning.

AvenCash also stands out for its quick funding—some Louisiana borrowers can get approved in as little as 15 minutes and receive funds just three days after signing. The ability to redraw up to 100% of your funds during the 5-year draw period provides flexibility for Louisiana homeowners managing ongoing projects or large expenses.

• Fixed interest rates throughout the loanApproval in as little as 15 minutes
• No in-person appraisal needed with automated appraisals
• Lowest rate guarantee
• Option to redraw 100% of your funds during the 5-year draw period
• Optional debt protection program through Securian

Loan details

Rates (APR)	6.99% – 15.49%
Loan amounts	$5,000 – $400,000
Draw period	5 years
Repayment terms	5, 10, 15, or 30 years
Funding time	As little as 3 days after signing
Properties	All types
Credit score	640

Bethpage FCU

Best Credit Union 

4.7 _/5

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Why we picked it

Bethpage Federal Credit Union is an excellent choice for Louisiana residents who prefer working with a credit union. Known for its member-focused approach, Bethpage offers competitive rates and personalized service that can be hard to find with larger financial institutions. 

The credit union’s commitment to its members ensures that borrowers get attentive and tailored support throughout the HELOC process.

Bethpage also offers flexible terms and higher loan amounts, which can benefit homeowners with significant equity. The credit union’s reputation for stability and trustworthiness further enhances its appeal, making it a reliable option for those seeking a HELOC in Louisiana.

• Member-focused, personalized support and attention ensures a smooth borrowing experience.
• Attractive introductory rates with reasonable adjustments provide long-term savings.
• High loan limits accommodate various financial needs.
• Strong reputation for reliability and customer satisfaction.

Loan details

Rates (APR)	7.24% for 12 months, then variable starting at 8.50%
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 is the best marketplace for HELOCs in Louisiana, offering a platform that connects borrowers with multiple lenders. This competitive environment ensures users can find the best possible rates and terms for their specific needs. By filling out a single application, borrowers can review offers from various lenders, simplifying the comparison process and saving time.

The flexibility in loan amounts, draw periods, and repayment terms available through LendingTree’s network of lenders makes it a versatile choice for Louisiana homeowners. 

LendingTree’s educational resources and tools help borrowers make informed decisions, further enhancing its value as a comprehensive marketplace.

• Access to various lenders and loan products increases the chances of finding the best deal
• Single application yields multiple quotes, streamlining the decision-making process.
• Tools and guides to help borrowers understand their options and make informed choices.
• Wide range of loan amounts, terms, and conditions to fit different financial situations.

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	Vary
Credit score	Varies, 620 advisable

Local HELOCs in Louisiana 

One potential advantage of choosing a local lender over an online lender is the possibility of applying in person. If you prefer speaking with a loan specialist face to face, choosing a lender with a physical location in your area could be the perfect solution.

Plus, if you already have a relationship with the lender, you may qualify for a relationship discount. Here are three of the best HELOC lenders in Louisiana.

Company	Rates (APR)	Locations
Home Bank	Starting at 8.125%	Founded in Lafayette, with 35 locations in the state
La Capitol Federal Credit Union	8.75% – 14.50%	Harvey, Metairie, Jefferson, Kenner, Westwego, New Orleans, Marrero, Gretna, Boutte, Luling, Belle Chasse, Norco, Chalmette, LaPlace, Killona
Baton Rouge Telco Federal Credit Union	Starting from 8.50%	Baton Rouge, Hammond, Denham Springs

When shopping for HELOCs with lenders in your area, compare rates, fees, and funding times to find the option that best matches your budget and goals.

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

Online lenders provide convenience; you can apply from anywhere. Plus, some online marketplaces, such as LendingTree, allow you to compare multiple lenders simultaneously, saving you time.

The local lenders we researched offer HELOC rates comparable to those of online lenders. For example, Home Bank offers below-average introductory rates.  Compare rates from local and online lenders to see which offers you the best deal. 

If you prefer speaking to a loan officer face to face, the best option is likely a local lender that allows you to apply in person.

How do Louisiana HELOC rates compare to other states? 

The average HELOC rate across America is 8.54% for banks and 8.46% for credit unions as of March 2024. Rates in Louisiana aren’t much different from other states. 

When you apply for a HELOC, other factors, including your debt load and the equity in your home, play a much larger role in determining your rate.

How to get the best HELOC rates in Louisiana 

You can take these steps to find the best HELOC rate for your unique circumstances in Louisiana:

• Shop around. Heloc rates and fees vary by lender, so shopping around is critical. Some lenders allow you to prequalify for a HELOC, which allows you to preview rates you might be eligible for after submitting a complete application.
• Boost your credit score. Most lenders require excellent credit to qualify for their lowest rates. So if your credit needs work, take steps to improve your score, such as paying down debt, especially your credit cards.
• Relationship discount. Consider applying with a lender you already bank with if it offers a rate discount.

Are there any Louisiana-specific requirements or regulations?

When we researched the HELOC requirements, we found no specific legislation in the state that could affect your rate and terms. 

To qualify, you must meet certain requirements that are generally the same across state lines, including having a certain amount of equity in your home and meeting the lender’s minimum credit requirements.

When you apply for a HELOC, you must provide proof of sufficient homeowner’s insurance. A lender may require proof of flood insurance if you live in a flood zone.

FAQ  

What credit score do you need for a Louisiana HELOC?

Most lenders require a minimum credit score of 620 to 640 to qualify for a HELOC in Louisiana. However, a higher credit score—700 or above—can help you secure better rates and terms. Lenders have unique requirements, so it’s beneficial to check with multiple lenders to understand their criteria.

What are the typical fees for a Louisiana HELOC?

HELOC fees may include an application fee ranging from $0 to $500, an appraisal fee of $300 to $700, and an annual fee of $50 to $75. Closing costs can add up to 2% to 5% of the loan amount. An early termination fee may apply if you close the HELOC early, often within two to five years. These fees can vary based on the lender and the terms of your HELOC agreement.

Are there any special programs or incentives for Louisiana HELOCs?

Louisiana may offer special programs or incentives for HELOCs through state or local housing agencies. These can include reduced rates, fee waivers, or grants for specific groups such as first-time homebuyers, low-income families, or those in designated areas. We recommend checking with local housing authorities or financial institutions for the most current programs.

What happens if I move to another state with a HELOC in Louisiana?

If you move to another state with a HELOC on a property in Louisiana, the HELOC remains tied to the Louisiana property. You will continue making payments on the HELOC per the agreed terms. It’s crucial to inform your lender about the move to ensure all communication and documentation are properly managed. If you sell the property, the HELOC will typically need to be paid off from the sale proceeds.

How we selected the best Louisiana HELOCs

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 Louisiana.

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 Louisiana online HELOC rates and lenders