Finding the best HELOC rates in Oklahoma means you’ll pay less interest on your loan and save more money over time. The LendEDU team has found that Figure, Bethpage, and LendingTree are three of the best online lenders for Oklahoma HELOCs. We’ll also share several local lenders so you can compare options.
Below, we’ll explore current Oklahoma HELOC rates and the factors that affect them. We’ll also provide tips to help you find the most competitive offers. Keep reading to learn how to make the most of your home equity and save money in the process.
Going with an online Oklahoma HELOC lender versus a local one offers several benefits. You can compare rates and terms from multiple providers without leaving your home. These online lenders often have faster application times, and you may have an easier time getting approved with less-than-perfect credit.
Best overall
Figure stands out as the best option for HELOCs in Oklahoma due to its innovative online platform, which simplifies the application process. With competitive interest rates and quick access to funds, Figure offers a streamlined experience that’s perfect for homeowners looking for convenience and efficiency.
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 and secondary homes |
Credit score | 640 |
Best for large HELOCs
Bethpage is ideal for Oklahomans seeking a large HELOC thanks to its generous loan limits and flexible terms. As a reputable credit union, Bethpage provides personalized customer service and competitive rates, making it a top choice for those with significant equity in their homes.
Rates (APR) | 6.99% for 12 months, then variable |
Loan amounts | $10,000 – $1 million |
Draw period | 10 years |
Repayment term | 5, 10, or 20 years |
Funding time | 39 days, on average |
Properties | Primary homes |
Credit score | 670 |
Best marketplace
LendingTree is the best marketplace for HELOCs in Oklahoma due to its extensive network of lenders. This platform allows homeowners to compare multiple offers and empowers borrowers to find the best rates and terms tailored to their specific financial needs.
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 by lender |
Credit score | 620 |
Online lenders tend to focus on speed and convenience, but local Oklahoma lenders have stronger ties to your community and may better understand the local market.
Company | Rates (APR) | Location |
Bank of Oklahoma | 8.62% – 18.00% | Oklahoma City |
Tinker Federal Credit Union | 7.45% – 12.95% | Oklahoma City |
WEOKIE Federal Credit Union | 7.25% – 18.00% (fixed) | Oklahoma City |
Oklahoma’s Credit Union | 8.50% – 18.00% | Oklahoma City |
Many of the best local Oklahoma HELOC lenders are credit unions. One major benefit of choosing a credit union is that they’re subject to National Credit Union Administration (NCUA) regulations, which cap the maximum interest rate for loans at 18%. Some non-credit-union lenders have higher maximum rates.
Some local HELOC lenders, such as WEOKIE FCU, offer fixed-rate HELOCs for borrowers who want to avoid a variable-rate loan. Many credit unions also give back to their local communities through various initiatives and programs.
As you shop for a HELOC in Oklahoma, you can choose between an online or local lender. Neither is better than the other—it all boils down to personal preference. So what’s the difference?
Online lenders, such as Figure, Bethpage, and LendingTree, prioritize convenience and speed. Figure prides itself on lightning-fast online applications, Bethpage is ideal for large HELOCs up to $2 million, and LendingTree allows you to compare offers from many lenders all at once.
Local Oklahoma HELOC lenders, including Bank of Oklahoma, Tinker FCU, WEOKIE FCU, and Oklahoma’s Credit Union, are in your community. They have a strong understanding of the local market. And if your lender is from a credit union, you’ll also find competitive rates capped at 18% (due to NCUA regulations).
Oklahoma HELOC rates are generally in line with the national average. As of June 2024, the national average HELOC rate is 9.18%. In Oklahoma, rates range from 7.25% to 18.00%, which are consistent with what you’ll find across the country.
HELOC rates are primarily influenced by the federal funds rate or prime rate, not your specific location. So, regardless of what state you live in, you can expect interest rates to be similar.
Living in Oklahoma may affect your HELOC due to the state’s lower-than-average home values. According to Zillow’s Housing Report, the average Oklahoma home value is $207,178, compared to the national average of $360,681.
This means homeowners may have less equity in terms of dollar amounts compared to those in states with higher home values. This could limit the amount you can borrow through a HELOC. Compare HELOC rates in other states to see how Oklahoma stacks up.
Your individual financial situation plays the biggest role in determining your HELOC rates. You can get the lowest rates by exceeding lender eligibility requirements and shopping around.
Focus on these factors if you can:
Oklahoma does not have any state-specific requirements or regulations that have a significant impact on HELOC rates or terms. However, these are general laws and regulations to be aware of:
Thinking of applying for a HELOC in Oklahoma? Before you sign any paperwork, read the terms and conditions, know your rights and responsibilities as a borrower, and get offers from several lenders to find the best one for your specific needs.
Most lenders in Oklahoma require a minimum credit score of 680 to qualify for a HELOC. However, higher credit scores can mean better interest rates and terms. Some lenders might approve HELOCs for credit scores as low as 620, but these often come with higher rates.
Typical fees for a HELOC in Oklahoma can include:
Some lenders in Oklahoma may offer special programs or incentives, such as discounted rates for current customers, no closing costs, or reduced fees for HELOCs with larger credit limits. Inquire with lenders about their current promotions or incentives.
If you move to another state with a HELOC in Oklahoma, the loan remains tied to your property in Oklahoma. You are still responsible for making the payments according to the terms of your agreement. If you sell your home, the HELOC must typically be paid off from the proceeds of the sale. Some lenders may allow you to transfer the HELOC to a new property, but this varies by lender and is not guaranteed.
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.
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