The Upstart HELOC is a home equity line of credit from Upstart Home Lending, with an APR of 6.52% to 18.00%.1 It’s a good fit if you already know how much you need, it’s between $26K and $250K, and you want each draw’s APR fixed the day you take it.2
Before you apply, know the one rule that trips people up. You have to draw at least 80% of your limit when you open the line, so on a $100,000 line that’s $80,000 on day one.
At a glanceGood fit if you know the amount you need, it’s between $26K and $250K, and you could use at least 80% of it right away.
Look elsewhere if you want to borrow in small pieces, a variable APR makes you nervous, or you need more than $250K.
Checking your rate is a soft inquiry. Accepting your rate and moving ahead triggers a hard inquiry. If you are in a state Upstart Home Lending does not serve, this link takes you to Figure.
What the 80% draw rule means in dollars
How much do you actually borrow on day one? The 80% rule decides that, so here it is in dollars.
| Line you’re approved for | Minimum first draw (80%) | Origination at 0% | Origination at 4.99% |
|---|---|---|---|
| $26,000 | $20,800 | $0 | $1,297 |
| $50,000 | $40,000 | $0 | $2,495 |
| $100,000 | $80,000 | $0 | $4,990 |
| $250,000 | $200,000 | $0 | $12,475 |
Our arithmetic from Upstart Home Lending’s stated terms, rounded to the dollar. Minimum first draw = 80% of the line. Origination = 0% to 4.99% of the line.
You’re borrowing at least 80% of the line from day one, so the APR applies to that amount right away. If the limit in your offer is bigger than what you need, check that number before you accept, because the minimum draw grows with the line.
How the Upstart HELOC works, step by step
- 1Check your rate
Fill out the online application and see your APR. It’s a soft inquiry and takes as little as 10 minutes.
- 2Verify and get approved
Upstart Home Lending checks what you told it, so send your documents promptly. Nearly all applicants skip the appraisal.
- 3Sign and wait 3 business days
After you sign, federal law adds 3 business days, called the rescission period, before any money goes out.
- 4Get your funds
Your first draw, at least 80% of the line, is sent by ACH the business day after the rescission period ends. It goes to a personal bank account in your name.
What it costs
Opening the line costs one origination fee, and the APR does the rest.
| APR range | 6.52% to 18.00%, based on rates offered as of June 2026.1 It’s variable, set from the Prime Rate plus a margin, and it can’t go below 3.99% or above 18.00%. Each draw’s APR is fixed on the day you take it.2 |
| Lowest APR | Only for people who join a credit union and have a FICO of 780 or higher, a combined loan-to-value under 70% and a debt-to-income ratio under 45%. |
| Origination | 0% to 4.99% of your approved limit |
| Terms | 10 and 15 year terms, with a draw period that’s currently three years |
| Annual fee | None |
| Prepayment | No penalty |
| Redraw | No fee to redraw |
| Appraisal | Not needed for nearly all applicants |
| Property insurance | Required |
On a $100,000 limit, 4.99% origination is $4,990. Unless you check all four boxes for the lowest APR, plan on a number above the bottom of the range. Your own APR depends on your credit history, your combined loan-to-value, the line amount, the loan term, your lien position and your property’s state.
There’s no monthly payment example here, because Upstart Home Lending’s HELOC pages don’t say how payments work during the draw period, which is currently three years. Your rate check shows your own APR before you commit.
Can you qualify?
Upstart Home Lending HELOCs are available for credit scores starting at 600.
Your score isn’t the only input. The lender also looks at your education, work experience and credit history when it sets your rate.
Your home is the collateral, and property insurance is required. Funds go to a personal bank account in your name, and business accounts aren’t accepted.
The application is online, and nearly all applicants skip the appraisal.
States aren’t published. Upstart Home Lending doesn’t list them on its HELOC page, and some states have their own minimum loan amounts. If you’re in a state it doesn’t serve, the button on this page takes you to Figure instead.
How fast it funds
A rate check takes as little as 10 minutes, but approval isn’t the finish line. After you’re approved, federal law adds 3 business days, and the funds go out by ACH the business day after that. The company’s own speed number is narrower: in Q2 2026, 15% of funded HELOCs closed in 2 days or less and funded in 7 days or less,3 which leaves most borrowers taking longer.
Upstart HELOC pros and cons
What works
Soft inquiry to check your APR
No annual fee, prepayment penalty or fee to redraw
No appraisal for nearly all applicants
Credit scores starting at 600
Each draw is fixed on the day you take it
What to know first
You must draw at least 80% of the limit when you open it
The APR is variable, 6.52% to 18.00%
Origination up to 4.99% of the limit
The lowest APR needs credit union membership and a 780 FICO
Lines stop at $250K
States aren’t published
Upstart Home Lending vs Figure
If you’re pricing HELOCs, check Figure next. Its rate check is a soft pull too, and the two APRs you’re quoted tell you more together than either does alone.
| Feature | Upstart Home Lending | Figure |
|---|---|---|
| APR | 6.52% to 18.00%,1 variable, each draw fixed2 | 7.35% to 14.85%, fixed or variable options |
| Line amount | $26K to $250K | $15,000 to $750,000 (Oct. 6) |
| Terms | 10 and 15 years | 10, 15, 20 or 30 years (Oct. 6) |
| Origination | 0% to 4.99% of the limit | Up to 4.99% of the initial draw (Oct. 6) |
| Draw rules | At least 80% of the limit when you open it, 3 year draw period | Full amount drawn at closing, option to redraw |
| Funding | 3 business days after approval | As few as 5 days on loans of $400K or less |
| Rate check | Soft inquiry | Soft pull |
Figure figures were read October 13, 2026 unless a date is shown. Upstart Home Lending’s APR range is as of June 2026.
Prefer to start with Upstart Home Lending? Check your rate with Upstart Home Lending
More to read: our Figure HELOC review, the best HELOC lenders and the best home equity investment companies if a monthly payment is the problem.
Upstart HELOC FAQs
Yes. The HELOC comes from Upstart Mortgage, LLC, which does business as Upstart Home Lending (NMLS #2443873). It is a secured line of credit, so your home is the collateral.
No. Checking your rate is a soft inquiry. If you accept your rate and move ahead, Upstart Home Lending makes a hard inquiry, which may affect your score.
Upstart Home Lending HELOCs are available for credit scores starting at 600. The lowest APR is reserved for credit union members with a FICO of 780 or higher, a combined loan-to-value under 70% and a debt-to-income ratio under 45%.
At least 80% of your offered credit limit when you open the line. On a $100,000 line, that is $80,000 on day one. Each draw’s APR is fixed on the date you take it.
A rate check takes as little as 10 minutes. After approval, federal law adds 3 business days before the money goes out. In Q2 2026, 15% of funded HELOCs closed in 2 days or less and funded in 7 days or less, so many borrowers take longer.
Yes. There is no prepayment penalty, no annual fee and no fee to redraw. The origination fee of 0% to 4.99% of your approved credit limit is charged to open the line.
Sources (6)
We use primary sources: each company’s own product pages and legal terms.
- Upstart Home Lending. Apply for HELOC in minutes. heloc.upstartmortgage.com. Accessed October 13, 2026.
- Upstart Home Lending. Am I required to make a minimum draw?. helochelp.upstartmortgage.com. Accessed October 13, 2026.
- Upstart Home Lending. What is a HELOC?. helochelp.upstartmortgage.com. Accessed October 13, 2026.
- Upstart Home Lending. What is the range of interest rates offered on HELOCs?. helochelp.upstartmortgage.com. Accessed October 13, 2026.
- Upstart Home Lending. When and how do I receive funds from my draw?. helochelp.upstartmortgage.com. Accessed October 13, 2026.
- Figure. Home Equity Line of Credit (HELOC). figure.com. Accessed October 13, 2026.
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.
2 A Home Equity Line of Credit has a variable rate. The APR may change, but the APR that will apply to each draw will be fixed on the date the draw is made. Your APR will be the Prime Rate at the time of draw plus a margin fixed for the life of the HELOC.
3 In Q2 2026, 15% of funded HELOCs achieved a closing timeline of 2 days or less and a funding timeline of 7 days or less. This timeline assumes consumers close with our remote online notary, provide supporting documentation promptly, and ensure the information provided is accurate and consistent with our verification process. Delays, discrepancies, and other unforeseen factors may impact the closing timeline.
