Yes, you can get a HELOC without an appraisal. Some lenders skip the in-person visit and run your address through an automated valuation model (AVM) instead, which is a software estimate of what your home is worth.
The fastest place to see if you qualify is Figure. It doesn’t require an in-person appraisal on loans under $400,000, the whole thing is online and funding can happen in as few as 5 days. The catch is the fee, covered below.
HELOC lenders that skip the appraisal
Two lenders worth checking first, plus how the banks compare.
| Lender | Appraisal | Line | APR | Next step |
|---|---|---|---|---|
 FigureFastest, fully online | None under $400K | $15K to $750K | 7.15% to 14.85%as of November 2026 | Check My RateSoft pull, no credit impact |
 Upstart Home LendingCredit from 600 | Most applicants skip it | $26K to $250K | 6.52% to 18.00%1 | See If You Could QualifySoft pull to check your APR |
| Navy Federal | Navy Federal pays for it | $10K to $500K | From 7.25% variable | Members only |
| PenFed | Required over $400K, you pay | Up to $500K total equity debt | Variable | Members only |
How a HELOC works without an appraisal
An AVM is software. It looks at public records, recent sales near you and the details of your house, then spits out a value. No one walks through your kitchen.
The lender still wants to know your home’s condition, though. Figure says approval depends on verifying your income and employment plus a property condition report, so you may still be asked to confirm a few things about the house.
Then there’s the rest of the speed. That 5 day timeline assumes a remote online notary and no appraisal, and it applies to loans under $400,000.
Figure: the quick one with a fee
Figure’s lines run $15,000 to $750,000. As of November 5, 2026, its available initial APRs range from 7.15% to 14.85%, and the lowest APRs go with a ten-year term and the higher origination fee option, which isn’t available to everyone or in every state.
The origination fee is up to 4.99% of your initial draw, depending on your state and credit profile. It comes out of the money you get, and the full line is drawn at closing.
Here’s what that looks like on a $50,000 line at the 4.99% cap. The fee is $2,495, so you get $47,505 and owe interest on all $50,000 from day one.
Over $400,000, Figure wants an appraisal, and it costs $500 to $2,000 on you. Skip that range if the whole point is avoiding one.
Smaller costs can show up too. There’s a $350 manual notary fee if your county doesn’t allow an e-notary, and recording fees of $0 to $315, plus recording taxes that vary by state and county. It isn’t available in Hawaii or New York. Our full Figure HELOC review goes through the rest.
See your Figure rate in a couple of minutes
Checking your rate is a soft pull, so it costs your credit score nothing to look.
Check My Figure Rate →Soft pull, no impact on your credit scoreUpstart Home Lending: skip the appraisal with a lower credit score
A HELOC from Upstart Home Lending comes in amounts from $26K to $250K, with 10 and 15 year terms and APRs of 6.52% to 18.00%1. Most applicants skip the in-person appraisal, and you could qualify with credit scores starting at 600.
The rule that trips people up is the draw. You have to take at least 80% of your approved line at closing, so a $50,000 line means $40,000 on day one. Origination is 0% to 4.99% of the limit, which tops out at $2,495 on $50,000.
The lowest APR is available only to borrowers who meet specific eligibility conditions. There’s no annual fee, no prepayment penalty and no fee to redraw. The Upstart Home Lending HELOC review has the full breakdown.
Want to see if you could qualify for a HELOC from Upstart Home Lending?
Check My APR →What banks and credit unions do
Banks are where you find $0 upfront. They’re also where you find appraisals and long waits, so it’s a real trade.
Navy Federal says it will pay all closing costs on HELOC applications, including property valuations and appraisals. There’s no application, origination, annual or inactivity fee. But closing takes 30 to 40 calendar days, and you need to be a member.
PenFed pays most closing costs, but if an appraisal is required, you pay for it. It’s required on lines over $400,000 and PenFed puts the average at $550 to $850.
Bank of America advertises no application fees, no closing costs on lines up to $1,000,000 and no annual fee. Its published terms don’t say whether it appraises or how long it takes, so ask before you assume.
Huntington says an acceptable property appraisal and title search are required, so that one’s a no.
Achieve uses an automated valuation system, and in most cases a full in-person inspection isn’t necessary. It lists closing fees of $750 to $10,304, depending on the line amount and state, so look hard at what you’d pay. Here’s our Achieve HELOC review. Our PenFed HELOC review covers its fees.
Does skipping the appraisal cost more?
Not the missing appraisal, no. If anything, Figure’s appraisal over $400,000 is a $500 to $2,000 cost on you.
Where it costs more is the lender. Figure and Upstart Home Lending both charge up to 4.99%, and that’s more than the $0 you’d pay at Navy Federal or Bank of America.
Bottom line: you’re paying for speed and convenience. If you need the money in a couple of weeks, the fee can be worth it. If you can wait a month or two, a bank or credit union will usually cost less.
Who should skip a no-appraisal HELOC
It fits if
- You want funds in days, not weeks
- Your line is under $400,000
- You’d rather do it all online
- You’re fine with a fee coming out of the draw
Skip it if
- You need more than $400,000 and an appraisal is coming anyway
- You want the lowest fees and can wait
- You want a small standby line, since Figure draws the full amount and Upstart Home Lending at least 80%
- You live in Hawaii or New York (Figure)
Not sure a HELOC is the right fit? See the best HELOC alternatives.
The bottom line
Bottom line: to skip the appraisal and move fast, price Figure first, and look at Upstart Home Lending if your credit is closer to 600. Then compare the fee to a quote from your own credit union.
If the fee bothers you, there’s a good chance a bank is cheaper. For more options, see the best HELOC lenders ranking.
HELOC Without an Appraisal FAQs
Yes. Some lenders use an automated valuation model instead of an in-person appraisal. Figure doesn’t require an in-person appraisal on loans under $400,000, and most applicants at Upstart Home Lending skip it too.
They use an automated valuation model, which estimates your home’s value from public records and recent sales nearby. Figure’s approval also depends on a property condition report.
It can be close, but it’s still an estimate. It works from records and sales data instead of what’s inside the house, so it can miss things like recent upgrades or damage. That’s why lenders may ask you to confirm details about the property.
Usually, yes, but because of the lender and not the missing appraisal. Figure charges an origination fee of up to 4.99% of your initial draw, and Upstart Home Lending charges 0% to 4.99% of your limit. Navy Federal and Bank of America advertise no closing costs, but they take longer.
Not for loans under $400,000. Above that, an appraisal costs $500 to $2,000 and you pay for it.
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.
