Upstart HELOC 2026: Clear Fees, Fixed Rates, But Short Draw Period

4.0 _/5

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HELOC

• No hidden fees
• Fixed-rate draws
• Quick closing with no appraisal

• High minimum initial draw
• Short draw period

Rates (APR)	3.99% – 18.00%ⓘ
Loan amounts	$26,000 – $250,000
Repayment terms	Draw: 3 years / Repayment: 10 or 15 years
Min. credit score	600

Terms shown here are subject to change without notice. APRs for initial advances range from 6.52% to 18.00% based on rates offered as of September 2025. The lowest rate is only available to consumers willing to become a member of a credit union and to those who meet a minimum FICO score of 780, CLTV under 70%, and DTI under 45%. Your actual rate will depend on many factors such as your credit history, combined loan-to-value ratio (CLTV), line amount, loan term, lien position, and property state. Origination fee to open an account is between 0% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.00%. Property insurance is required.

Upstart is a solid online HELOC lender with a quick closing timeline, no appraisal requirement, and fixed-rate draws. It’s a strong option for borrowers who need money fast and plan to borrow at least 80% of the loan during the draw period. Plus, customer service representatives are available five days a week and answer on the first ring, which isn’t usually true with online lenders. 

But the draw period is short—three years. So unless you know exactly how much you need to borrow, you might be better off with a different lender. Here’s how to figure out whether Upstart is the right pick for you.

About Upstart home equity line of credit 

Home equity lines of credit (HELOCs) can help finance home repairs and other large expenses. But it’s important to find the right lender. Upstart is transparent about its fees and has fewer charges than most lenders. You only need to pay a one-time origination fee of 1.00% – 4.99%. Plus, rates are fixed once you draw, making it easier to budget.

The biggest issue with Upstart is its lack of flexibility compared to similar lenders.  During the first draw, you must borrow at least 80% of your maximum credit limit. Some lenders, like Figure, have higher minimum draws, but Upstart’s is higher than most. (Several lenders, including TD Bank, don’t require a minimum draw at all.)

The company also has a shorter-than-average draw period—the time during which you can draw from your credit line. While most lenders, including Aven, have at least a five-year draw, with Upstart, you have three years to borrow from your credit line before your repayment period begins. You also only have a choice of two repayment terms compared to other lenders with at least five different terms. 

We’ve broken down Upstart’s HELOC terms in the table below.

Upstart HELOC requirements

Upstart’s HELOC eligibility requirements are hard to find. You must call the company for answers about minimum credit score, income, and debt-to-income ratio. But we found that once you call, the representatives are helpful and forthcoming about exact numbers.

The lending requirements are similar to those of other lenders. You need a solid credit score to get a competitive rate. Upstart’s maximum allowed combined loan-to-value ratio (CLTV) is higher than average, at up to 95%. 

You can get a HELOC for almost any type of property, including single-family homes, condos, and townhomes, making it accessible to nearly every homeowner. However, depending on where you live, you might not qualify because of your location. Upstart HELOCs are available in 41 states (and Washington, D.C.) as of February 2026. 

How long does it take to get a HELOC from Upstart? 

It can take as little as two days to close the loan and eight days to get the funds in your bank account.^ⓘ However, according to Upstart, only 10% of its HELOCs achieved such a short timeline, so it’s likely you won’t get your funds as fast. 

Let’s take a look at how the funding process works. 

1. Complete the questionnaire: Click “Check Your Rate” on the Upstart Mortgage website. Answer the questions about your address, loan amount, and purpose. 

2. Create an account: After you provide your address, you must create an account with your email address. You can’t view your rate until you complete this step.
3. Review your rate: Upstart completes a soft credit check, which doesn’t affect your credit, and provides a sample rate based on the information. The rate is variable until you complete a draw, which can’t happen until you close the loan—it might increase or decrease before then.
4. Verify your information: The next step is an identity verification process. The company verifies your name, address, and other personal information to confirm it’s true. You might need to provide education transcripts and proof of income. 
5. Complete the closing: If you live in a county that allows a Remote Online Notary (RON), you can sign your closing documents online. If you don’t, Upstart helps you schedule a mobile notary who can meet at your chosen location. 
6. Finish the waiting period: Federal law requires lenders to wait three days before finalizing a HELOC. During that time, you can cancel the loan without penalty as long it’s for your primary residence.    
7. Receive your funds: After the waiting period ends, you’ll get your funds. The company deposits the money in your personal bank account. 

Upstart home equity customer reviews 

Upstart has generally positive customer reviews across major platforms, with especially strong ratings on Trustpilot and solid feedback on Google. Reviews often highlight the platform’s speed, ease of use, and fully online experience, which many customers prefer over more traditional, paperwork-heavy lenders.

While not all reviews are specific to Upstart’s home equity products, overall sentiment toward the company is favorable, particularly when it comes to the application experience and funding speed.

Upstart HELOC pros and cons 

Upstart offers solid loans with minimal fees and fast funding, but the draw period is short and requires a high minimum draw. Here’s what to consider. 

Upstart alternatives 

The best HELOC lenders offer competitive rates, flexible draw periods, and minimal fees. Although Upstart meets some of these criteria, it falls short in others. 

For example, if you need a draw period longer than three years, Figure offers five years, and FourLeaf provides a 10-year draw. If you want to avoid an origination fee, FourLeaf charges zero fees. On the other hand, Aven stands out with its Lowest Rate Guarantee and an optional protection program through Securian.

With LendingTree, you can shop around and see your prequalified rates and terms with several lenders.

The following companies stand out as the best HELOC lenders, according to our research. 

Company	Best for…	Rating (0-5)
4.9 View Rates	Best Overall	4.9 View Rates
4.8 View Rates	Best Customer Reviews	4.8 View Rates
4.7 View Rates	Best Credit Union	4.7 View Rates
4.5 View Rates	Best Marketplace	4.5 View Rates

FAQ 

Is it hard to get a HELOC from Upstart?

Upstart has standard eligibility requirements for HELOCs. You must have a credit score of 600 and a maximum debt-to-income ratio of 57%. These requirements are comparable to those of other top HELOC lenders, such as FourLeaf, Aven, and Figure.  

How much equity do I need to qualify for an Upstart HELOC?

To qualify for a HELOC, borrowers will typically need 15% equity in your home. However, Upstart allows for a maximum CLTV of 95%, meaning some homeowners with a smaller amount of equity could qualify. See how to calculate your equity. 

Does Upstart offer fixed-rate options for HELOCs?

Upstart has fixed-rate HELOCs—sort of. Before you draw from the loan, the rate is variable. But as soon as you draw, the rate is fixed. If you make another draw, your fixed rate might change.

How we rated Upstart

We designed LendEDU’s editorial rating system to help readers find companies that offer the best home equity products. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Upstart to several home equity lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating, recapped below.