New Hampshire HELOC Rates and Lenders

If you’re a homeowner in New Hampshire with significant equity in your house, you can tap into that equity by applying for a home equity line of credit (HELOC)—a revolving line of credit you can use when you need it, and your home is the collateral. 

You can use New Hampshire HELOCs for many purposes, including paying for home renovations, going back to school, and consolidating debt. We’ll provide reviews of the best HELOCs in the state, including online and local lenders. We’ll also explain how to get the lowest HELOC rates possible.

Reviews of the best online HELOCs in New Hampshire

If you need quick access to cash, using an online lender for your New Hampshire HELOC might be the best option. Online lenders tend to have faster processing times than local lenders, but it depends on which one you use and how fast you provide documentation.

Sometimes, online lenders offer more competitive interest rates than local lenders, but it depends on your credit history. If you have excellent credit, you’re more likely to qualify for the best interest rates. Here are four of the top online lenders to consider.

Figure

Best Overall

4.9 _/5

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Why we picked it

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

Fixed Rates (APR)	6.55% – 15.54%
Loan amounts	$20,000 – $750,000
Draw period	2 – 5 years
Repayment term	10, 15, 20 or 30 years
Funding time	As few as 5 days
Properties	Primary home, second home, or investment property
Minimum Credit score	640

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.

Aven

Best Customer Reviews

4.8 _/5

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Why we picked it

Aven offers a convenient HELOC solution for New Hampshire homeowners looking to tap into their home equity. Aven’s Lowest Rate Guarantee ensures competitive pricing, and checking your rate won’t impact your credit score, making the process simple and stress-free.

For New Hampshire residents, the fully digital application process allows for quick approval in just 15 minutes, with funding available in as little as three days. Aven also provides an optional debt protection plan through Securian, which covers up to six months of payments in case of job loss.

• Fixed interest rates
• Lowest Rate Guarantee
• Optional debt protection through Securian
• Fully digital application process
• 3,600 5-star reviews on Trustpilot (as of September 2024)
• 3-day funding after signing

Loan details

Rates (APR)	6.99% – 15.49%
Loan amounts	$5,000 – $250,000
Draw period	5 years
Repayment terms	5, 10, 15, or 30 years
Funding time	3 days from signing
Properties	All types
Min. credit score	640

FourLeaf FCU

Best credit union

4.7 _/5

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Why we picked it

FourLeaf offers HELOCs with a low fixed introductory rate for creditworthy borrowers. This lender is an excellent option for homeowners needing lines of credit due to its lack of upfront fees and wide range of borrowing amounts. It provides the financial leverage required for home renovations or other major expenses. 

FourLeaf’s commitment to customer service and flexible loan terms make it an excellent choice for those looking to maximize their home equity. The straightforward application process and competitive rates further enhance its appeal, ensuring borrowers can access the necessary funds.

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

Loan details

Rates (APR)	6.99% for 12 months, then variable starting at 6.75%ⓘ
Loan amounts	$10,000 – $1 million
Repayment terms	Up to 20 years
Funding time	6 to 10 weeks on average
Properties	Primary homes, second homes, or condos
Credit score	670

Local HELOCs in New Hampshire

If you’re not comfortable with online lending options, New Hampshire residents can apply for a HELOC at several local banks and credit unions. The benefit of a local option is getting more personalized service and visiting a branch to ask questions. 

Sometimes, local credit unions have promotional offers for members, such as low introductory rates or no payments for the first 90 days. If you’re interested in local options for your HELOC, here are three lenders to consider.

Company	Rates (APR)	Location
Service Credit Union	Starting at 6.49%	Various locations in NH, ND, & abroad
St. Mary’s Bank	Starting at 7.331%	Various locations in NH
Union Bank	Starting at 7.50%	VT & NH

When comparing local lenders, first find one with a location near you. Then compare rates to other local lenders and online lenders to see whether your bank offers competitive interest rates. If your bank has excellent customer service with low rates, it could be a terrific option for your HELOC. 

However, if online lenders have much lower rates, consider the above options to save on interest costs over time.

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

When deciding between online and local HELOCs, it comes down to personal preference and interest rates. If you’re wary about online lenders and prefer to use a bank with a name you know and trust, a local lender might be best for you. 

However, if you’re tech-savvy and focused on getting the lowest rates possible, online lenders tend to offer better rates due to having lower overhead costs. Online lenders can also offer faster loan disbursement times compared to traditional lenders.

It’s wise to compare rates and terms from three to five lenders to ensure you’re getting the best possible HELOC. Even a 0.25% difference in interest rate can save significant money over the course of your HELOC term, so it’s worth taking the time to get quotes from online and local banks.

How do New Hampshire HELOC rates compare to other states? 

According to the Wall Street Journal, the average HELOC rate nationwide was 8.61% as of May 2024. New Hampshire’s online and local lenders offer rates starting at 6.24% and 6.49%, respectively, which is competitive compared to national averages.

To get the best rates in New Hampshire, you’ll need excellent credit, and your eligibility will vary depending on the lender. Average rates don’t fluctuate much between states, but some states have more lending options than others.

In New Hampshire, you have access to several online lenders, including Figure and Hitch, which gives you more options to compare when finding the best HELOC. Data from Zillow shows that the average New Hampshire home value is up 8.9% over the past year, which translates to potential significant equity growth for many homeowners.

What consumers need to know

Additionally, data shows that New Hampshire’s average credit limit for HELOCs is $125,536 higher than the national average, which was $117,598 in 2023. This is likely due to the higher average home price in New Hampshire, which is $479,363, according to Zillow.

How to get the best HELOC rates in New Hampshire

To get the best HELOC rates, make sure you meet the following qualifications.

• You have equity in your home. Most lenders require you to own at least 15% of your home.
• You have good credit. To qualify for a HELOC, lenders prefer FICO credit scores above 650, but those with great credit above 700 may qualify for the best rates.
• Shop around. Prequalify for a HELOC with three to five lenders so you have several offers to compare.
• Pay down debt: Lenders calculate your debt-to-income ratio when determining whether to approve you for a HELOC. If you can pay down debt to improve this ratio, you could qualify for lower rates.

Are there any New Hampshire-specific requirements or regulations?

New Hampshire has many consumer protection laws that prevent lenders from taking advantage or being unnecessarily aggressive when collecting debt. For example, New Hampshire law RSA 358 expands the federal definition of a debt collector and prevents them from being unfair or deceptive when trying to collect a debt.

However, New Hampshire also allows high-interest loans for amounts of $10,000 or less. Loans are considered high-interest if the APR is over 10%. For this reason, many payday loan and title loan companies operate in New Hampshire.

It might be tempting to use a payday loan in New Hampshire, but the sky-high interest rates aren’t worth it. It’s far better to apply for a traditional HELOC with a reputable lender.

Use a reputable lender

You can find a reputable lender for a HELOC by ensuring its licenses are clearly listed on its website. You can also look up the lender on Trustpilot to verify and read online reviews.

In 2023, the New Hampshire Department of Banking identified an unlicensed person using an online platform to assist consumers in getting loans. Because they didn’t have a license to conduct a lending business, the Department of Banking instituted a $39,000 fine. It’s always smart to verify lenders before sharing your personal information.

The lenders on this list are verified and reputable and are an excellent starting point when researching HELOCS.

FAQ

What credit score do you need for a New Hampshire HELOC? 

To qualify for a HELOC in New Hampshire, most lenders require a minimum credit score of around 620. However, a higher credit score (above 700) can help you secure better interest rates and more favorable terms.

What are the typical fees for a New Hampshire HELOC? 

Typical fees for a New Hampshire HELOC can include application fees, appraisal fees, annual fees, and closing costs. These fees can range from a few hundred to several thousand dollars. Some lenders may waive certain fees or offer promotional incentives, so reviewing the fee structure with each lender you consider is important.

Are there any special programs or incentives for New Hampshire HELOCs? 

Yes, some lenders offer special programs or incentives for New Hampshire HELOCs. These can include introductory interest rate discounts, fee waivers, or cashback offers. Credit unions and local banks may have specific programs tailored to New Hampshire residents. It’s beneficial to inquire with various lenders about any available special programs or incentives.

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

If you move to another state with a HELOC originated in New Hampshire, the terms of your HELOC typically remain the same. You will continue to make payments to your lender as agreed upon in the original terms. However, it’s important to notify your lender of your new address and any changes to your contact information to ensure you continue to receive important communications regarding your HELOC.

How we chose the best HELOCs in New Hampshire

Since 2018, LendEDU has evaluated home equity companies to help readers find the best home equity loans and HELOCs. Our latest analysis reviewed 850 data points from 34 lenders and financial institutions, with 25 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.

These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Recap of New Hampshire HELOC rates and lenders