Add news
March 2010 April 2010 May 2010 June 2010 July 2010
August 2010
September 2010 October 2010
November 2010
December 2010
January 2011
February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 January 2015 February 2015 March 2015 April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 August 2016 September 2016 October 2016 November 2016 December 2016 January 2017 February 2017 March 2017 April 2017 May 2017 June 2017 July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019 July 2019 August 2019 September 2019 October 2019 November 2019 December 2019 January 2020 February 2020 March 2020 April 2020 May 2020 June 2020 July 2020 August 2020 September 2020 October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 November 2023 December 2023 January 2024 February 2024 March 2024 April 2024 May 2024 June 2024 July 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
News Every Day |

Connecticut HELOC Rates and Lenders

If you’re looking for a home equity line of credit (HELOC) in the Constitution State, you might need funds for a home renovation, debt consolidation, or a major purchase. 

The LendEDU team has spent hours researching the best HELOC rates in Connecticut to help you save time and money. Explore your options below to find the best HELOC for your needs.

CompanyRates (APR)LendEDU rating (out of 5)
Figure8.80%17.45%4.9
Hitch8.25%13.00%4.4
Bethpage FCUStarting at 8.50%4.5
LendingTreeStarting at 6.99%4.7

Reviews of the best HELOC lenders in Connecticut

Exploring multiple vendors is crucial when considering a HELOC to ensure you get the best terms suited to your needs. Here’s a look at four top-rated HELOC providers serving Connecticut residents.

Figure

Best online lender

4.9 /5
LendEDU Rating

Why we picked it

Figure is known for its efficiency and customer-friendly approach, making it an excellent choice for those who value speed and simplicity. With competitive rates and a digital process, you can manage your loan from the comfort of your home. 

The online application is straightforward and can be completed in minutes, reducing the time and effort often associated with traditional loan processes. Figure offers flexible loan terms you can customize to fit your financial situation. Whether you need a short-term solution or a longer repayment plan, Figure provides options that cater to diverse needs. 

Its transparent approach ensures you understand all aspects of your loan, helping you avoid unexpected surprises.

  • Fast application process entirely online
  • Flexible loan terms
  • Competitive interest rates

Hitch

Best for accessing up to 95% of equity

4.3 /5
LendEDU Rating

Why we picked it

Hitch specializes in maximizing your ability to tap into your home equity. Its standout feature is the high LTV ratio, ideal for homeowners with less equity who need access to cash. This makes Hitch a practical option for those looking to leverage their home’s value.

The approval process at Hitch is fast, ensuring that you get access to your funds without unnecessary delays. Its transparent fees and terms provide you with a clear understanding of what to expect. 

This straightforward approach helps borrowers build trust and confidence, ensuring they can make informed financial decisions.

  • High maximum loan-to-value ratio of 95%
  • Quick approval and funding process
  • Transparent fee structure

Bethpage FCU

Best credit union

4.7 /5
LendEDU Rating

Why we picked it

Bethpage is a top choice for those who prefer credit union benefits. It offers competitive rates, tailored customer service, and excellent terms, making it a reliable option for Connecticut homeowners. 

As a member-focused institution, Bethpage provides personalized services and financial products that cater to its members’ unique needs. A significant advantage of Bethpage is its attractive interest rates, which can result in considerable savings over the life of your loan. 

Its flexible repayment terms allow you to structure your loan to align with your financial goals. The availability of substantial loan amounts also ensures you can access the funds you need for large projects or expenses.

  • Attractive interest rates
  • Flexible repayment terms
  • Significant loan amounts available

LendingTree

Best marketplace

4.5 /5
LendEDU Rating

Why we picked it

LendingTree allows you to compare various HELOC options from different lenders. This tool can save you time and help you make an informed decision by comparing rates, terms, and other critical factors side by side. The platform’s user-friendly interface makes it simple to input your information and receive multiple offers tailored to your specific needs.

One benefit of using LendingTree is the variety of available financial products, allowing you to explore multiple avenues to secure the best possible terms. LendingTree does not charge direct fees for its service, meaning you can compare offers without incurring extra costs. This transparency and ease of use make LendingTree a valuable resource for anyone looking to find the best HELOC in Connecticut.

  • Easy to compare multiple lenders
  • Offers a variety of financial products
  • No direct fees for using the service

Local Connecticut HELOC lenders

In addition to these national lenders, several local lenders have some of the best HELOC rates in Connecticut. All the local institutions we found have introductory HELOC rates you can lock in for the first six to 12 months. 

LenderRates (APR)Location
Liberty Bank8.00% – 18% (5.99% intro APR for 12 months)Middletown
Union Savings Bank8.50% – 18% (5.49% intro APR for 6 months)Danbury
*Rates in May 2024

About HELOC rates in Connecticut

HELOC rates in Connecticut aren’t too different from HELOCs in other states. No special rules or regulations make getting a HELOC in Connecticut particularly challenging. 

Local lenders appear to have rates similar to national lenders. But some local institutions—and Bethpage, our top credit union, offer special introductory APR offers for the first six or 12 months. If you qualify for an intro rate, it could lower your borrowing costs.

The main factors that influence your HELOC rates are your credit score, debt-to-income ratio, and the amount of equity you have in your home. Depending on where you live in Connecticut, you may have more equity to access than others. 

For instance, according to Zillow, Connecticut’s average home value is above the national average ($399,242 vs. $358,734). But in some wealthy towns, such as Darien, the average home value is $2,007,032. If you have 20% equity in your property, that’s almost $80,000 with Connecticut’s average home value—but $400,000 on a house in Darien. Usually, the higher the percentage of equity you own in your home, the lower your HELOC rates may be.

How your HELOC rate affects your overall loan cost

Getting the best HELOC rate in Connecticut should be a priority. Even shaving one percentage point off your rate can help you save thousands throughout your loan. In the example below, qualifying for an 8.50% rate versus 9.50% saves you $10,000. 

HELOC termsHELOC AHELOC B
Loan size$50,000$50,000
Interest rate9.25%8.50%
Total interest paid$95,000$85,000
Total cost of loan$145,000$135,000

As you can see, APR has a massive impact on the cost of your loan. But you should look beyond the number itself to note whether your rates are variable or fixed and what the repayment terms will be. 

Most HELOCs have variable interest rates that fluctuate with the Wall Street Prime Rate. This means your monthly payments can change at any time, which can make it harder to predict your total borrowing costs.

Some HELOC lenders let you convert a portion or all of your balance to a fixed rate. Looking for a lender with this perk can be smart if you’re worried about interest rate increases making your loan more expensive.

Repayment terms also play a significant role in your overall loan costs. HELOCs have two phases: a draw phase and a repayment phase. 

  • During the draw phase, some lenders allow you to make interest-only payments, which can keep your initial payments lower. 
  • But during the repayment phase, you begin making full payments. If you haven’t been paying down your principal balance all along, you may end up paying more interest overall.

How to get the lowest HELOC rates in Connecticut

Here’s how to get the lowest HELOC rates in Connecticut. 

  • Boost your credit score. Lenders typically offer the best rates to borrowers with good to excellent credit scores. The closer your FICO score is to 720 or higher, the better. It’s OK to hold off on getting a HELOC to improve your credit first.
  • Evaluate your equity. Lenders generally allow you to borrow up to 85% of your home’s value minus your outstanding mortgage balance. Not sure what this means for you? Subtract your current mortgage balance from your home’s value to calculate your equity percentage. 
  • Get multiple offers. You may find the best HELOC rates in Connecticut at any of the national lenders mentioned above or at local institutions.
  • Look for introductory rates. Remember to consider the introductory rates and how they might change over time. But also look at your rate once the introductory period ends and how that will influence your costs.

How to apply for a HELOC in Connecticut

Applying for a HELOC in Connecticut is similar to getting a HELOC anywhere else in the U.S. After you’ve shopped around and found the best offer for your financial situation, you’ll want to submit a formal application. 

Follow these steps to do that: 

  1. Find out how to apply. Most lenders let you apply online through their website. But for local institutions, you may need to visit a local branch. Find out this information first, so you can prepare. 
  2. Gather up your documents. You’ll usually need a copy of your current mortgage and most recent billing statement, income verification documents (pay stubs, W-2s, and tax returns), and all your personal information, including your Social Security number and government-issued photo ID. 
  3. Submit your application. The lender will then review everything and order an appraisal to determine your home’s current value. 
  4. Wait for a decision. If you’re approved, you’ll review your agreement and ask any questions if something is unclear. Then you’ll sign everything. 
  5. Start using your HELOC. Once the loan is approved, the lender will set up your HELOC account. You can then start drawing from your account with checks or a card.

FAQ

What credit score do you need for a Connecticut HELOC?

For a HELOC in Connecticut, lenders typically look for a good to excellent credit score. The closer your FICO score is to 720 or higher, the better your chances of securing a favorable rate. 

What are the typical fees for a Connecticut HELOC?

When applying for a HELOC in Connecticut, you can expect a variety of fees, including appraisal fees, application fees, and closing costs. These fees can vary depending on the lender. It’s essential to review each lender’s fee structure to understand the loan’s total cost. 

Are there any special programs or incentives for Connecticut HELOCs?

Local lenders like Liberty Bank and Union Savings Bank offer introductory APR rates for the first six to twelve months, which can significantly lower initial borrowing costs.

How we chose the best HELOCs in Connecticut

LendEDU evaluates HELOC lenders to help readers find the best student loans. Accessibility is important to this evaluation, so our editorial ratings system primarily focuses on companies available in most U.S. states. That’s why the lenders we selected in the online section have editorial ratings. They’ve gone through an extensive review process and were determined to offer superior products compared to other lenders. We’ve also independently verified that these companies are available in Connecticut.

Since most local lenders aren’t available outside state lines, they haven’t gone through the same review process as the online lenders. Instead, we found them through separate research and determined that each offered solutions worthy of consideration by readers.

Recap of the best online HELOCs in Connecticut

CompanyRates (APR)LendEDU rating (out of 5)
Figure8.80%17.45%4.9
Hitch8.25%13.00%4.4
Bethpage FCUStarting at 8.50%4.5
LendingTreeStarting at 6.99%4.7

The post Connecticut HELOC Rates and Lenders appeared first on LendEDU.

Москва

Пока в Москве и Санкт-Петербурге ремонтировали убежища, в Орске их пытались сдать в аренду

The Truth About Female Sexual Desire

The Faculty of International Journalism and Mass Communications of the Eurasian International University conducts an additional set of applicants!

England legend’s glamorous daughter dazzles in bikini on France holiday and sends fans into meltdown

A school for African diplomats has opened in Moscow

Ria.city






Read also

Oba Olakulehin crowned as 43rd Olubadan

Sparks bear down for 87-81 road win over Wings

Shoppers Say Their ‘Face Is Completely Tight’ After Using This Cream That’s Over 30% off on Amazon Today

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

The Faculty of International Journalism and Mass Communications of the Eurasian International University conducts an additional set of applicants!

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

The Faculty of International Journalism and Mass Communications of the Eurasian International University conducts an additional set of applicants!



Sports today


Новости тенниса
Даниил Медведев

«Самый сложный противник, с которым я встречался». Медведев – об Алькарасе



Спорт в России и мире
Москва

Крупный фитнес-центр "Кимберли" закрылся в Москве, кинув клиентов на 180 млн рублей



All sports news today





Sports in Russia today

Москва

«Сирано с изящным носом» // В Москве простились с предпринимателем Вадимом Тумановым


Новости России

Game News

AMD представила технологию NTBC, которая уменьшит объём игр на 70 % — Call of Duty уместится в 45 Гбайт


Russian.city


Здоровье

Стали обращаться чаще: Областная наркологическая больница представила итоги работы в первом полугодии


Губернаторы России
Галина Янко

Галина Янко: как фаза Луны влияет на характер человека


В Москве стартует Восьмая межрегиональная выставка «КРАСНЫЕ ВОРОТА/ПРОТИВ ТЕЧЕНИЯ»

Покушение на Дональда Трампа в США. Могут проверить "Секретные службы".

Якутское собрание цирковых менеджеров, продюсеров, и профессиональных артистов - Театр и Концерт, Россия и Дети, Культура:

Как не стать жертвой маркетинговых уловок при распродажах: советы экспертов


Евгений Маргулис возьмет 1,5 млн рублей за одно выступление на липецком фестивале

Солистка ВИА Самоцветы Преснякова: внук Пугачевой скучает по РФ, но не вернется

Волочкова подала в суд на пенсионный фонд из-за потери стажа

Фестивалю «Изборская крепость» хотят присвоить имя поэта Александра Дольского


Второй год подряд: Медведев взял сет у Алькараса, но вновь проиграл в полуфинале Уимблдона

Крейчикова выиграла второй турнир «Большого шлема» и вернется в топ-10

Express: Медведеву дали предупреждение за ругань с судьей в полуфинале Уимблдона

Рыбакина сделала заявление после сенсационного поражения в полуфинале Уимблдона-2024



Сергачев о матче звезд КХЛ и НХЛ: «Когда обратился к Панарину и Овечкину, понимал, что интерес будет хороший, но такого ажиотажа представить не мог. Болельщики соскучились по играм такого масштаба»

Последний отпуск. На прогулке на катере по Амуру погибли сестры из Москвы

Екатеринбуржца пересадили из «бизнеса» в эконом-класс «Уральские авиалинии»

Популярные направления доставки грузов из Костромы


Для Titan Slayer: Idle RPG проходит предрегистрация в Google Play

"Атомайз" представил на ИННОПРОМ новую книгу о ЦФА

Собянин: беспилотник сбили в Ступине в Московской области

Псковская область вошла в топ-3 по доле первички в ипотечных сделках Сбера среди регионов, подпадающих под расширенные условия «Семейной ипотеки»


На месте крушения самолета в Подмосковье нашли фрагменты тел членов экипажа

Популярные направления доставки грузов из Стерлитамака

Популярные направления доставки грузов из Костромы

Воздушные суда из Москвы и Благовещенска 14 июля прилетают во Владивосток с опережением графика



Путин в России и мире






Персональные новости Russian.city
Андрей Макаревич

«Предатель, иного слова нет»: Рязанова прокомментировала поведение Макаревича*



News Every Day

The Truth About Female Sexual Desire




Friends of Today24

Музыкальные новости

Персональные новости