loanDepot HELOC review: fixed or adjustable, fully online
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Our take
loanDepot's HELOC is a digital application with fixed or adjustable rates and lines up to $750,000. It accepts a wide range of property types and can pay off other debts directly at closing.
May fit you if
- Homeowners with second homes or small rental properties (outside Texas and New York for those)
- People consolidating credit cards or auto loans at closing
- Borrowers who want a choice of 10- to 30-year terms
Look elsewhere if
- You want a small line under $25,000
- You want to see a minimum credit score or maximum loan-to-value before applying (loanDepot doesn't publish them)
- You want to avoid an origination fee
We don't give star ratings yet. We'll publish our rating method first.
Key facts
loanDepot.com, LLC · NMLS #174457 · Look up licensing
- Products
- Fixed-rate and adjustable-rate HELOCs Source
- Line amounts
- $25,000 to $750,000 Source
- Terms
- 10, 15, 20 or 30-year repayment; the draw period depends on the term Source
- Property types
- Single-family, townhomes, condos, PUDs and 2-4 unit homes; first or second lien Source
- Property use
- Primary, second and investment properties; second homes and investment properties not available in Texas or New York Source
- Rate check
- Soft inquiry at the offer stage; hard pull if you apply Source
- Availability
- Not available in all states (no list published) Source
How it works
You get a rate quote online with a soft inquiry, then apply digitally; income is verified electronically.
The line is fully drawn at closing, minus the origination fee, and you can redraw as you pay it down.
You can choose to pay off credit cards, auto loans and other debts directly at closing. Closing can be done with a remote online notary.
Costs and fees
- Origination fee
- 1.50% to 4.99%, rolled into the loan amount; varies with the rate you choose Source
We don't list rates because they change daily. Your rate and costs depend on your credit, home value, location and the amount you borrow.
What loanDepot says
These are the company's own claims. We haven't verified them.
- Speed
- Cash in as little as 5 days, depending on verification and remote notary closing Source
Things to check before you apply
- Choosing a lower rate can mean a higher origination fee, so compare the total cost, not just the rate.
- The fee is added to your loan, so you pay interest on it.
- Ask for the rate cap on the adjustable option in writing before you sign.
Sources and method
Every fact on this page comes from loanDepot's own published pages, checked on October 19, 2026. Terms change, so confirm them with the company. Licensing can be checked on NMLS Consumer Access. Spot an error? Tell us. See our editorial standards.