View The Lower HELOCs

  • Fixed rate or variable rate: Variable Rate
  • How can I withdraw funds? Online transfer, or with a debit or check card
  • Origination Fee: 1% origination fees on HELOC transactions
  • Loan to-value ratio: up to 95%
  • Funding time: Uncertain

A home equity line credit (or HELOC) with low interest rates and competitive variable rates is available to borrowers for various financial purposes, including home renovations and debt consolidation.


  • You can preview possible rates by asking for soft credit
  • Up to 95% of your equity can be accessed
  • In the future, you may be eligible for discounted refinancing


  • In some states, not available
  • HELOC transaction origination fee

Three things you need to know about a Lower HELOC

These are the key points to remember before you borrow from Lower.

1. You can access up to 95% your home equity

You can get HELOCs at a lower rate of up to $350,000 and access to up to 95% your home equity. This is a better deal than other lenders. You may be able to access more of your equity to pay off higher-interest debts or do a bigger home improvement project.

However, it could also put your home at risk if your monthly HELOC payments are not affordable.

2. Origination fee — but not a refinance deal

You will pay a 1% origination charge on HELOC transactions if you have a Lower HELOC.

Lower may offer a low-cost refinance option if you are looking to refinance your home. Lower offers a “Free refi for life” promise, which waives origination, processing, and administrative fees.

Refinance costs for your home are typically between 3% to 6% of the mortgage amount.

3. HELOC rates competitive

The interest rate you pay to borrow money will affect how much you pay. It is important that your rates are competitive in order to keep your costs down.

Lower HELOCs have a variable rate which means that your rate can change over the time. Lower however claims it will stay between 4%-18%. Lower’s average HELOC APR was competitive as of October 2022.

For whom is a Lower HELOC useful?

A HELOC can be used by homeowners who are looking to renovate frequently.

A Lower HELOC is a good option if you plan to refinance your primary mortgage in future. For current clients, the fees for future refinances will be lower. This could save you thousands of dollars in future fees. The APRs of a Lower HELOC are also lower than other HELOCs available. It’s worth looking into if you are considering a consolidation loan to consolidate debt.

How do you apply for a lower HELOC

You can apply online for a Lower HELOC. Before deciding whether or not to proceed, you can view your potential rate online.

You must be a resident of a state that has a licensed lender and meet the minimum credit requirements to qualify for a Lower Home Equity Loan. A property appraisal can be required, which usually costs several hundred dollars.

Apply here

  • You will need to enter your personal information including your name and email address.
  • Once they receive your information, a loan specialist will contact you.
  • The loan advisor will submit your complete loan application. You will also receive a loan disclosure document that outlines the terms and rates.

Also, you will need to provide documentation that shows your monthly income, expenses, and assets (e.g. W-2s and 1040s, pay stubs, bank and loan statements, etc.).

Are you unsure if Lower is the right choice for you? These are some alternatives.

  • Alliant Credit Union This HELOC lender is worth looking into for borrowers who are looking for a lower-fee option.
  • Bank of America This nationally recognized bank allows you to convert your HELOC into a fixed rate.