TD Bank’s HELOC is a pretty good deal if you already bank at TD. The APR is tied to the Prime Rate and can’t go above 18%, and the fees are small: $99 to open and $50 a year after the first year. The catch is that the advertised rate assumes you have a TD personal checking account, and the lowest one needs a line of at least $200,000.
Before you apply, check your rate with Figure. It’s a soft pull, and funding can happen in as few as five days. Then get a second quote on a HELOC from Upstart Home Lending, where you could qualify with credit scores starting at 600.
TD Bank HELOC vs. Figure and Upstart Home Lending
Here’s how the three compare on the stuff that actually decides it: how you get the money, how much you can borrow, the credit bar and the APR.
| Lender | How you draw | Amount | Min. credit | APR | Next step |
|---|---|---|---|---|---|
 FigureFunds in as few as 5 days | Full draw at closing | $15K to $750K | Varies by state | 7.35% to 14.85%as of October 2026 | Check My RateSoft pull, no credit impact |
 Upstart Home LendingCredit scores from 600 | At least 80% at closing | $26K to $250K | Starting at 600 | 6.52% to 18.00%1 | See If You Could QualifySoft pull to check your APR |
 TD Bank | As needed for 10 years | Offer terms up to $500K | Not published | Prime-based, 18% max | See the catches |
How the TD Bank HELOC works
A HELOC is a line of credit backed by your house. TD’s version gives you a 10-year draw period, and during those 10 years you only have to pay the interest. Paying down principal is optional.
Whatever you still owe after year 10 gets paid back over another 20 years, with interest.
The APR is variable and based on the Wall Street Journal Prime Rate, so it moves when Prime moves.
TD caps it at 18%. TD posts its current rates on its own site, so check TD’s home equity page for today’s numbers.
How much of your equity you can tap (the maximum combined loan-to-value) depends on your credit, the type of property, whether you live in it, the lien position and the amount. There’s no single number for everyone.
What it costs
This is where TD looks good. There’s a $99 origination fee at closing, then a $50 annual fee starting after the first anniversary.
Closing costs apply on lines over $500,000, and on all co-ops and investment properties. Under $500,000 on a regular home, the $99 and the $50 are the main fees you’ll see while the line is open.
Two more fees show up on the way out. Pay off and close the line within 24 months of opening it and TD charges 2% of the outstanding balance, up to $450. And when you close it, there’s a third-party recording fee to discharge the lien, anywhere from $0 to $600 or higher.
The $400 in that example sits under TD’s $450 cap. The recording fee comes on top in both cases once you actually close the line.
Not a big deal. Just don’t open a TD line you plan to shut down in a year.
The catches with a TD HELOC
The advertised rate needs TD checking
TD’s advertised HELOC rate includes a discount, and you only get it with a TD Bank personal checking account. No TD checking, no discount.
If you already bank there, that’s free.
If you don’t, you’re opening an account just to keep the rate, so factor in whatever it takes to keep that account in good standing.
The lowest rate needs $200,000 or more
The lowest Prime-based rate TD advertises requires a line of at least $200,000. Need $40,000 for a kitchen?
You won’t be getting the rate in the ad, so compare what TD quotes you against a couple of other lenders before you sign.
The rate moves, and so does the payment
Prime goes up, your APR goes up. The 18% cap keeps it from running away completely, but that’s a ceiling, not a promise.
The interest-only draw period is the other thing to watch. Ten years of small payments feel great, then year 11 shows up and you’re paying principal too, over 20 years.
No published credit minimum
TD doesn’t post a minimum credit score for its HELOC. You find out where you stand when you apply.
That’s one place the online lenders do better.
With Figure, the rate check is a soft pull and your score isn’t affected. You only take a hard pull when you go ahead with the full application. Upstart Home Lending HELOCs are available for credit scores starting at 600.
Compare TD against a Figure quote
Checking your Figure rate is a soft pull, so you can line it up next to TD’s offer at no cost to your score.
Check My Figure Rate →Soft pull, no impact on your credit scoreTD’s fixed-rate home equity loan
TD also sells a home equity loan, and it’s a different animal. You get one lump sum at a fixed rate that stays the same for the life of the loan, with terms from 5 to 30 years and the same $99 origination fee.
TD’s advertised APR example for it is based on a loan of $100,000 to $499,999 on a 120-month term as a second lien. So if your loan looks different, your quote may not match it.
If you want a payment that never changes, that’s the one to look at. If you want to pull money only when you need it, stick with the HELOC.
TD Bank vs. Figure and Upstart Home Lending
To be fair to TD, its HELOC does something the other two don’t. You can draw what you need, when you need it, over 10 years. Figure gives you the full line at closing, and Upstart Home Lending requires you to draw at least 80% when the line opens.
So if you want a standby line for projects that’ll trickle in over a few years, and you already have TD checking, TD is hard to beat on fees.
Why check the other two, then? Speed, a soft-pull rate check before any hard pull, no TD checking account required and, with Upstart Home Lending, a credit bar starting at 600. If you need the money now for one big bill, a full draw at closing isn’t a downside anyway.
TD fits if
- You already have TD personal checking
- You want to draw as you go over 10 years
- You’ll keep the line open past 24 months
- You need $200,000 or more for the best rate
Look elsewhere if
- You don’t bank at TD
- You want to see a rate with a soft pull first
- You need the money fast for one big bill
- You might pay it off and close it within two years
Figure is the fast one. You see your rate with a soft pull, and the money can land in as few as five days.
Lines go from about $15,000 to $750,000 ($35,000 minimum in Texas), and you get the whole amount at closing. Watch the origination fee, which can run up to 4.99%. Figure doesn’t lend in Hawaii or New York. Check your Figure rate here.
Upstart Home Lending is worth a look if your credit isn’t perfect, since you could qualify with credit scores starting at 600.
A HELOC from Upstart Home Lending comes in amounts from $26,000 to $250,000, with 10 and 15 year terms and APRs of 6.52% to 18.00%1. The application is easy and online. You’ll need to draw at least 80% of the line at closing, so size it to what you need.
Credit in the 600s? See if you could qualify for a HELOC from Upstart Home Lending.
Check My APR →The bottom line
Bottom line: the TD Bank HELOC is cheap and flexible if you already have TD checking, want to draw over time and plan to keep the line open for more than two years.
If you don’t bank at TD, need a smaller line or want to see a rate before a hard pull, check Figure first, then get a second quote from Upstart Home Lending. Take whichever offer costs you less on the amount you really need.
More reading: our Figure HELOC review, the Upstart Home Lending HELOC review and our ranking of the best HELOC lenders. Comparing banks? Our Rocket Mortgage home equity loan review covers a lender with no HELOC at all.
TD Bank HELOC FAQs
Yes. The TD Bank HELOC has a variable APR based on the Wall Street Journal Prime Rate that won’t go above 18%. For the first 10 years you only have to pay interest, and anything you still owe after that is repaid over another 20 years.
TD’s HELOC APR is variable, based on the Wall Street Journal Prime Rate, and capped at 18%. TD shows its current rates on TD’s home equity page. The advertised rate includes a discount for having a TD Bank personal checking account, and the lowest rate needs a line of at least $200,000. To compare, Figure lets you check your rate with a soft pull.
A $99 origination fee at closing and a $50 annual fee after the first anniversary. If you pay off and close the line within 24 months, there’s an early termination fee of 2% of the balance, up to $450. Closing the line also comes with a third-party recording fee of $0 to $600 or higher, and closing costs apply on lines over $500,000 and on co-ops and investment properties.
Not to apply, but the advertised rate includes a discount that requires a TD Bank personal checking account. Without one, expect a higher rate than the one TD advertises.
Yes. TD’s home equity loan has a fixed rate for the life of the loan, terms from 5 to 30 years and a $99 origination fee. You get the money as one lump sum instead of a line you draw from.
Figure if you want speed: the rate check is a soft pull and funding can happen in as few as five days. For a second quote, check a HELOC from Upstart Home Lending, with APRs of 6.52% to 18.00%1, lines from $26,000 to $250,000 and credit scores starting at 600. You’ll have to draw at least 80% of the line at closing.
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 June 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.
