North Dakota HELOC Rates and Lenders

Home equity lines of credit (HELOCs) let you use your equity like a high-limit credit card. You can borrow against your equity, pay down your balance, then borrow again. You want to find one with competitive rates and flexible draw requirements to maximize your HELOC. 

That’s where we come in. We’ve sought the best HELOC lenders so you don’t have to. Now, we’re bringing you the top choices for North Dakota homeowners. Keep reading for our recommendations.

Reviews of the best online HELOCs in North Dakota

Online lenders are the pinnacle of convenience. You can access your HELOC on any device, at any hour, from anywhere in the world. Some online HELOC lenders even offer virtual appraisals. If you’re looking for a tech-driven experience, check out these lenders:

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

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 solution for North Dakota homeowners looking to access their home equity through a HELOC. With fixed interest rates and a Lowest Rate Guarantee, you benefit from competitive and predictable monthly payments. Checking your rate doesn’t impact your credit score.

North Dakota residents can enjoy a fully digital application process, with approval often taking just 15 minutes and funding available within three days.

• 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

Best Credit Union 

4.7 _/5

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Why we picked it

FourLeaf offers HELOCs at a low fixed introductory rate for creditworthy borrowers. This makes it an excellent option for North Dakota homeowners. FourLeaf is perfect for those planning home renovations or who wish to cover other expenses due to its flexible loan amounts. 

With a straightforward application process, competitive rates, and a strong commitment to customer service, FourLeaf provides the support and flexibility needed to access your home equity.

• 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)	6.99% for 12 months, then variable starting at 6.75%ⓘ
Loan amounts	$10,000 – $1 million
Draw period	10 years
Repayment term	Up to 20 years

Local HELOCs in North Dakota

Despite the benefits of online HELOCs, local lenders have the upper hand in one key area: in-person support. You likely won’t compromise much in the way of technology, either. These North Dakota credit unions blend modern lending with the hometown trust borrowers crave:

Company	Starting rates (APR)	Location
Capital Credit Union	7.99%	Fargo area and Central ND
Town & Country Credit Union	8.25%	Fargo area and Northwest ND
Western Cooperative Credit Union	Undisclosed	Western ND
North Star Community Credit Union	Undisclosed	Central and Northeast ND

Looking through these lenders, you’re probably already taking note of which ones work with borrowers in your community and which don’t. In addition to geographic service area, you’ll also want to consider each lender’s:

• Membership criteria
• Draw period length
• Initial draw requirements
• Fixed-rate conversion options

You need to weigh each lender’s APR, as well. Along those lines, you might notice that only two of these lenders publish their starting APRs. In our research, we found that many North Dakota-based lenders don’t share their APRs publicly. 

That doesn’t necessarily mean that those options aren’t worth considering. However, if you’re torn between lenders and your potential APR is the deciding factor, it’s worth contacting those lenders directly for more information.

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

Compared to local HELOCs, online HELOCs lean more on technology. That could be a benefit or a drawback, depending on your preferences. However, this isn’t the only difference between each HELOC type. Here’s a closer look at each one:

	Online	Local
Applications	Online	Online, in-person
Appraisals	Digital or traditional	Traditional
Account mgmt. options	Website, app	Website, app, in-person
In-person customer support?	✖️	✔️
After-hours support?	Usually	Sometimes

Online lenders provide borrowers with multiple digital tools to access and manage their HELOCs. Because these tools don’t require a visit to a brick-and-mortar bank, online lenders aren’t bound by time or distance like local lenders.

That said, local lenders offer a level of customer service that online lenders can’t. With a community bank or credit union, you won’t have to talk to a chatbot before speaking to a human being.

Given these distinct features, you might be leaning toward one HELOC or the other. But if you’re on the fence, consider which HELOC is the best fit in the following situations: 

If you…	Then consider…
Want the ability to visit a branch	Local HELOCs
Don’t mind navigating new apps or websites	Online HELOCs
Don’t need digital account access	Local HELOCs
Would rather have a digital appraisal	Online HELOCs
Want to borrow where you bank	Local HELOCs
Live too far from a local lender	Online HELOCs

While some HELOCs are a clear winner in some scenarios, flexibility never hurts. Exploring your options—even the ones you think you may not pursue—could help you uncover better rates, benefits, and an overall better-fit HELOC.

How do North Dakota HELOC rates compare to other states?

Say you own property in both North and South Dakota. Will opening your HELOC in the Peace Garden State get you a lower rate than you’d find one state over? 

Truth be told, your location doesn’t have much influence on your HELOC rate. The variability in HELOC rates by state is most often due to differences in borrowers’ credit scores.

Our money management habits, earning potential, and discretionary income impact our scores. Since economic opportunity isn’t the same in every state, credit scores aren’t. Take a look at how North Dakota’s average VantageScore compares to its neighbors:

North Dakota, South Dakota, and Montana have similar average scores—and then there’s Minnesota. Because the average score in Minnesota is roughly 10 points higher, its average HELOC rates may be slightly lower. 

Keep in mind, though, that your personal credit score is what determines your HELOC rate. To that end, how you prepare your credit is far more important than where you live.

How to get the best HELOC rates in North Dakota

If you don’t need your HELOC for a time-sensitive expense, it’s worth improving your credit score before applying. Sure, this means waiting a little longer on your HELOC. But the effort you put in now can save you hundreds—maybe thousands—in interest.

Not sure where to start? Give these strategies a go:

• Lower your credit utilization to 30% or less of your total credit limit.
• Split up your monthly debt payments into biweekly installments.
• Avoid closing existing accounts, and don’t open any new ones.

These methods will help you reduce your debt-to-income ratio (DTI) and your interest expense. You’ll also preserve your average age of accounts in the process.

Working on your credit isn’t the only way to lock in a low rate, though. In fact, it’s only the first step. What’s next? Prequalifying with different lenders.

Prequalifying lets you check your rates without a hard credit pull. It’s a no-risk way to make an informed borrowing decision, particularly considering how widely rates vary between lenders. You can proceed with a full application once you find the most competitive HELOC offer.

Are there any North Dakota-specific requirements or regulations?

The North Dakota Century Code doesn’t appear to regulate HELOCs. The state does have usury laws, but state and federally regulated financial institutions are exempt from those rate caps.

While North Dakota doesn’t stipulate any borrower requirements, your lender might. For example, you may need to obtain homeowners insurance before qualifying for a HELOC.

Because such policies aren’t legally mandated, they may not be consistent from lender to lender. It’s a good idea to contact lenders before or during the prequalification phase to see what conditions you or your property must meet to qualify for a HELOC.

FAQ

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

Many lenders in North Dakota require a credit score of at least 620 to qualify for a HELOC. However, higher scores can unlock better interest rates and terms. Aiming for a score of 700 or above puts you in a stronger position and may result in more favorable conditions.

What are the typical fees for a North Dakota HELOC?

Fees for a North Dakota HELOC can vary but may include an application fee, origination fee, appraisal fee, and closing costs. These fees can range from $200 to $1,000 or more. Some lenders may offer no-cost or low-cost HELOCs, so shopping around and comparing is wise.

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

North Dakota offers special programs for HELOCs, which can include reduced interest rates for veterans and first-time homebuyers. Some financial institutions provide incentives, such as introductory rates or fee waivers. Check with local banks and credit unions to identify available programs.

How we chose the best North Dakota 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 North Dakota.

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 Dakota HELOC rates and lenders