Most banks want a credit score of 660 to 680 or higher for a HELOC. Bank of America wants 660+ and Citizens wants 680. If you’re sitting between 500 and 640, that math can feel shut.
It isn’t. A couple of HELOC lenders go lower, and under 600 there’s a different product that skips the monthly payment. Here’s who looks at which score, and what each route costs.
Quick answer
HELOCs from Upstart Home Lending are available for credit scores starting at 600. Rate checks are a soft inquiry.
Hometap looks for a credit score of 575 or higher and at least 25% equity in your home.
Under 575? Skip to Splitero, Point or Nada below. Each button checks your state first, so you could land on another lender if the one you pick doesn’t serve it.
HELOC credit score requirements: who wants what
A HELOC is a monthly payment secured by your home, so the lender wants proof you’ll keep up with it. Your score is the fastest shortcut they have. Here are the scores they list.
| Lender | Credit score | Worth knowing |
|---|---|---|
| Bank of America | 660+ | Also wants at least 15% equity |
| Citizens | 680 | Lines of $17,500 to $2,000,000 |
| Achieve | 600 | Closing fees of $750 to $10,304, depending on the line and your state |
| Upstart Home Lending | From 600 | Lines of $26K to $250K, with an APR of 6.52% to 18.00%1 |
| Figure | No minimum published | Rate check is a soft pull |
Score is only one input. Lenders also look at how much equity you have, your income and what your rate check shows.
One thing trips people up. The free score you see in an app is often not the score a lender pulls, so yours could come back lower than you expect. Get a rate check before you assume anything.
HELOC for bad credit: the options that go lower
Two HELOC lenders start at 600. Neither is built for deep credit trouble, but they’re the first stop if you’re in the low 600s.
Upstart Home Lending is the one to check first. It offers lines of $26K to $250K, and its HELOC is available for credit scores starting at 600. The APR runs 6.52% to 18.00%,1 and the application is online. Know the catch before you apply. You have to draw at least 80% of your limit at closing, so a $100,000 line means $80,000 on day one. Our Upstart HELOC review walks through the rest.
Achieve has a 600 minimum too, with lines of $15,000 to $700,000. The cost to open one varies a lot. Its page puts closing fees at $750 to $10,304 and says that may include an origination fee of up to 4.0%. Read the Achieve HELOC page for your state before you apply.
Figure is worth a look if you’re toward the top of this score range. It doesn’t publish a minimum score on its product page, so we won’t give you a number. Checking your rate is a soft pull, and the origination fee is up to 4.99% of your initial draw. You draw the full line at closing. Our Figure HELOC review has the details, and the best HELOC lenders list covers the rest.
Credit under 600? Skip the HELOC and look at a home equity investment
This is where the lower scores actually get approved. A home equity investment gives you cash today in exchange for a share of your home’s future value. There’s no monthly payment. You settle the investment when you sell, refinance or reach the end of the term.
The price is the share. With a HELOC you keep everything your home gains. With an investment, the company earns a share of your home’s future value, so a home that climbs a lot costs you more. Here’s who takes which score.
Hometap is the first one to price. Among other qualifying criteria, it looks for a credit score of 575 or higher and at least 25% equity in your home. If your home is located in an eligible state, a Hometap investment could give you $15,000 to $600,000 over a 10-year term. It covers 26 states and has an annual cap of 18.5% on what it earns. Because it’s a 10-year term, plan on settling the investment by then. Our Hometap review has the full breakdown.
Splitero goes lower. It takes credit scores from 500, asks for no income documents and needs at least 25% equity. It funds $50,000 to $600,000 in 17 states and has a written annual cap of 17.99%. See the Splitero review.
Point starts at about a 500 score and covers 30 states plus D.C., the widest of the group. It funds $30,000 to $600,000, with scores under 600 capped at $500,000. Point doesn’t publish its share or cap, so you won’t know the cost until you get an offer. More in our Point review.
Nada also starts at 500 and has a 19.99% annual cap, but it only serves about a dozen states. Check the Nada review before you spend time on it.
What a home equity investment really costs
The upfront fee is small next to the share you hand over at settlement. Here’s a real comparison from our home equity investment company roundup, which has the full cost table. On a $500,000 home with $50,000 in cash and 4% a year growth, settling after 5 years costs about $102,624 with Hometap and about $124,160 with Splitero, fees included. Splitero doesn’t publish its share, so that row assumes 20%.
Same home, same cash, a $21,536 gap.
So get at least two estimates, because the company that takes your score isn’t always the cheapest.
How to improve your odds
None of this needs a perfect score. So what can you actually change?
A few moves change what a lender sees.
- 1Lower your combined loan-to-value
Your first mortgage plus the new line, divided by your home’s value. The less you borrow against the house, the better a lender likes it. Asking for a smaller line is the easiest lever.
- 2Add a co-borrower
If someone with a stronger score and steady income owns the home with you, applying together could help. Ask each lender how it handles joint applications.
- 3Fix errors on your credit reports
Pull your reports and dispute anything that isn’t yours. A wrong late payment or an account you never opened can drag your score down.
- 4Pay down card balances first
Balances on revolving accounts weigh on your score. Paying them down before you apply is a move you control.
- 5Stick to soft-pull rate checks
Checking your rate with Upstart Home Lending or Figure is a soft inquiry. Compare there before you accept anything that triggers a hard one.
Side by side
| Option | Credit score | Monthly payment | Cost and states | See your number |
|---|---|---|---|---|
| Upstart Home Lending HELOC | From 600 | Yes | APR 6.52% to 18.00%1, origination 0% to 4.99% of the limit | Check My Rate |
| Hometap | From 575 | None | 18.5% annual cap, 26 states | Get My Hometap Estimate |
| Splitero | From 500 | None | 17.99% annual cap, 17 states | Get My Splitero Estimate |
| Point | About 500 | None | Cost not published, 30 states plus D.C. | Get My Point Offer |
| Nada | From 500 | None | 19.99% annual cap, about 12 states | Get My Nada Estimate |
The investment options also need equity. Hometap and Splitero each ask for at least 25%. Amounts, state lists and caps come from each company, and your own offer has the binding numbers.
Which one fits you
Go with Upstart Home Lending if you’re at 600 or above, you know how much you need and you can use at least 80% of the line right away.
Go with Hometap if you’re at 575 or higher and want no monthly payment. Check it first.
Go with Splitero, Point or Nada if you’re in the 500s. Splitero is first if you want a written annual cap of 17.99%, and Point covers the most states.
Skip all of them if you’re selling soon. The upfront cost needs time to earn out. And if your home is already heavily mortgaged, the 25% equity rule could rule you out of the investment route.
Get your numbers
Checking is free, and it’s the only way to see what you’d really be offered.
More to read: the Upstart HELOC review, the Figure HELOC review, the best HELOC lenders and our HELOC alternatives.
Upstart Mortgage, LLC dba Upstart Home Lending. NMLS #2443873. Equal Housing Opportunity.
1 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 2026. 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.
HELOC with bad credit FAQs
Not from most HELOC lenders. Lenders like Upstart Home Lending and Achieve start at 600. At 550, a home equity investment is the better fit. Splitero, Point and Nada start at about 500, and Hometap looks for 575 or higher.
It depends on the lender. Bank of America wants 660+ and Citizens wants 680. Upstart Home Lending HELOCs are available for credit scores starting at 600, and Achieve has a 600 minimum. Figure doesn’t publish a minimum on its product page.
It’s easier to qualify for, since there’s no monthly payment and scores can start around 500. But it costs a share of your home’s future value when you settle, which can add up if your home climbs. On a $500,000 home with $50,000 in cash, 5 years and 4% yearly growth, Hometap totals about $102,624 and Splitero about $124,160 at an assumed 20% share.
