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.
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:
Best overall
Figure is the best overall choice for HELOCs in North Dakota, offering competitive fixed rates. The company uses blockchain technology to streamline the application process, often resulting in funding within five days.
This rapid turnaround, combined with clear and transparent terms, makes Figure an ideal option for homeowners needing quick access to their home equity.
Whether you’re planning renovations, consolidating debt, or funding significant expenses, Figure’s efficiency and excellent customer service set it apart.
| 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 home, second home, or investment property |
| Credit score | 640 |
Best credit union
Bethpage offers substantial HELOCs at a low fixed introductory rate for creditworthy borrowers.
This makes it an excellent option for North Dakota homeowners who need significant borrowing limits. Bethpage’s large credit lines are perfect for major home renovations or other substantial expenses.
With a straightforward application process, competitive rates, and a strong commitment to customer service, Bethpage provides the support and flexibility needed to access your home equity.
| 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 | 36 – 70 days, on average |
| Properties | Primary homes, second homes, or condos |
| Credit score | 670 |
Best marketplace
LendingTree is a top platform for comparison shopping. For North Dakota residents, LendingTree’s extensive network of lenders and easy-to-use interface make comparing multiple HELOC offers simple.
This allows homeowners to find the most competitive rates and terms tailored to their needs.
LendingTree’s comprehensive comparison tools ensure you can make an informed decision and secure the best possible deal for accessing your home equity.
| 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 | Varies |
| Credit score | Varies, 620 advisable |
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:
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
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