Can I get a HELOC at 670 FICO?

Yes at several lenders. Spring EQ, Achieve, Figure, Aven, and some regional credit unions accept HELOC applications down to 640 to 660. Expect APRs in the 10.50 to 13.50 percent range and tighter CLTV limits (typically 80 percent or below). Major national banks often cut off HELOC underwriting at 680 to 700.

Is a HEL easier to get than a HELOC at lower credit?

Sometimes, particularly at credit unions and some regional lenders. The fixed-term, fully-disbursed nature of a HEL is structurally simpler for underwriting; some lenders price HELs more aggressively at 660 to 700 than HELOCs. This varies meaningfully by lender; always check both quotes.

How much does 680 FICO cost vs 740?

Typically 150 to 350 basis points of rate on a HELOC and 100 to 250 basis points on a HEL. On a 60,000 dollar drawn balance, a 200 basis point gap is 1,200 dollars per year of additional interest, or 12,000 dollars over a 10-year HELOC life.

Should I use a co-signer at 680?

A co-borrower with higher credit can help with both approval and pricing if the lender uses both middle scores. A pure co-signer (non-occupant guarantor) helps with approval edge cases but does not always materially improve pricing. The legal commitment is identical for both; both are fully liable for the debt.

CREDIT TIER · 660-699 FICO · MAY 2026

Below 700: Where You Can Still Get a HELOC or HEL

FICO 660 to 699 sits in the band that lender risk models call near-prime or non-prime. Many national banks cut off HELOC underwriting at 680 or 700. Some regional banks, most credit unions, and several digital and specialist lenders continue to lend in this band, but with tighter terms: higher rates (typically 200 to 400 basis points above prime-tier pricing), lower maximum CLTV (usually 80 percent and sometimes lower), more documentation, and slower funding. This page documents which lenders are actually accessible in the 660-699 band in May 2026, what the cost is relative to higher tiers, and the practical sequencing question of whether to wait and rebuild or apply now.

The Lender Map at 660-699

Among national banks, the major HELOC underwriters (Bank of America, Chase, Wells Fargo, Citi) typically have published minimums of 660 to 680 but underwriting standards in practice often cluster around 700. US Bank similarly tends toward 680 as a soft floor. PNC and TD Bank can go to 660 or 670 with stronger compensating factors (low DTI, very low CLTV, large reserves).

Among digital lenders, Figure accepts files down to 640. Aven similarly. These are the most accessible national channels in the 660-680 sub-band. Spring EQ and Achieve are specialist near-prime HELOC and HEL lenders that work down to 600+ scores with adapted underwriting and pricing.

Credit unions are often the best channel here. PenFed (open membership), Navy Federal (military), Alliant, regional credit unions, and local CUSO-affiliated lenders frequently treat 660-699 borrowers with substantially more flexibility than major banks. The pricing advantage of credit unions at this tier can be 75 to 150 basis points relative to comparable bank pricing. Many credit unions also consider non-FICO factors (length of share-and-loan relationship, on-time payment history at the credit union, alternative documentation of income) that national banks do not.

Rate Cost in This Tier

With prime at 7.25 percent in May 2026 per Fed H.15, typical HELOC margins for 660-699 borrowers run prime plus 2.50 to 4.75 percent, translating to APRs of 9.75 to 12.00 percent at mainstream channels. Specialist lenders (Spring EQ, Achieve) at the bottom of this band can price up to 14.00 percent on weaker files. HEL fixed rates for 660-699 typically 9.50 to 12.50 percent, occasionally pushing into the 13-14 percent range at the lower end of the tier.

The cost of being in this tier vs the 740+ tier is meaningful. On a 50,000 dollar drawn HELOC balance, an APR difference from 9.00 (740+ band) to 11.00 (660-699 band) is 1,000 dollars per year of additional interest. Over a 10-year HELOC life, depending on amortisation pattern, this typically compounds to 7,500 to 10,000 dollars of additional total interest paid.

Whether the rate difference justifies waiting depends on the urgency of the cash need and the path to higher credit. For a borrower who can plausibly move from 670 to 720 in six months through utilisation reduction and on-time payment history, the wait may save 5,000 dollars or more in interest. For a borrower whose 670 reflects deeper credit-history issues (recent bankruptcy, multiple collections, charge-offs in recent years), the rebuild path is longer and applying now at the available rate is often the practical choice.

HEL vs HELOC at This Credit Tier

HEL underwriting at 660-699 is sometimes easier than HELOC underwriting. The reason: a HEL is a fully-disbursed fixed-term loan, which is structurally simpler from a risk-and-recovery perspective. The lender knows the full balance at funding and the amortisation schedule. A HELOC's revolving structure creates uncertainty about future drawn balance and lender behaviour over the draw period.

For borrowers at 670 to 690 considering both products, the HEL approval probability is often higher and the rate is sometimes lower than HELOC pricing at the same credit. Discover at 680 and above prices HELs aggressively. SoFi at 680+ similarly. Credit unions often have strong HEL programs for the near-prime band.

The trade-off: the HEL commits the borrower to interest on the full balance from day one, which is structurally wrong for borrowers who do not need all the funds immediately. If the borrower's actual need is staged (phased renovation, contingent investment), the HEL's higher carrying cost erodes the rate-and-approval advantage.

Compensating Factors That Help

Lenders look at the full file, not just the credit score. Several compensating factors can help a 660-699 borrower qualify and get better pricing.

Low CLTV: a 50 to 60 percent CLTV file at 670 FICO often prices better than an 85 percent CLTV file at 720 FICO. The collateral cushion partially offsets the credit risk. Borrowers with substantial home equity should size the HELOC or HEL to need rather than maximum availability.

Strong DTI: total debt-to-income below 36 percent (front-end housing plus all monthly debt obligations divided by gross monthly income) is meaningfully better than 43 to 45 percent (the lender ceiling). A low DTI borrower at 670 FICO will see better pricing than a high-DTI borrower at the same score.

Reserves: 6 to 12 months of total mortgage and HELOC payments held in liquid accounts at application. Documented through bank statements. This shows the lender that even in a job-loss scenario, the borrower can sustain payments.

Stable employment: 2+ years at current employer is often a small positive factor. Stronger when combined with W2 income (rather than self-employed). For self-employed borrowers in this tier, expect tighter underwriting documentation (two years of tax returns plus year-to-date P&L plus business bank statements).

Co-Borrower and Co-Signer Dynamics

Adding a co-borrower with higher credit (typically a spouse or family member) often helps both approval and pricing. Lenders generally use the lower of the two middle scores for pricing; a 670 FICO borrower with a 760 FICO co-borrower may price at the 670 level if both are on the loan. Some lenders use a weighted blend or the higher score in specific programs; this varies and should be confirmed at application.

A pure co-signer (non-occupant guarantor not on title) helps with approval-edge scenarios where the primary applicant is on the bubble. The co-signer takes on full personal liability for the debt without ownership stake in the property. Co-signing is a meaningful legal commitment; both parties should consult an attorney before signing.

Credit Rebuild Path

For borrowers willing to delay 6 to 12 months, a focused credit-rebuild plan can move the FICO 30 to 60 points or more. The most reliable levers: bring revolving utilisation to below 10 percent of credit limits on each card, dispute any inaccurate derogatories through the CFPB credit reporting framework, pay down any installment-loan balances proportionally to reduce active-account utilisation, and continue 100 percent on-time payment history across all accounts.

For borrowers with collections or charge-offs in recent history (2 to 4 years), the impact of those derogatories fades over time and scores improve as they age. Six to twelve months of strong on-time history during this period can move scores meaningfully. For borrowers with derogatories older than seven years, the items should fall off the credit report under FCRA aging rules; verifying their removal is worth doing before HELOC application.

Frequently Asked Questions

Will I get approved at 680 FICO?

Probably yes at the right lender. Figure, Aven, Spring EQ, Achieve, most credit unions, and several regional banks regularly approve 680 files with strong compensating factors. National banks (BoA, Chase) may decline 680 files unless the rest of the package is very strong.

Is there a special FHA HELOC program for lower credit?

FHA does not offer a HELOC product; FHA programs are for primary mortgages. The closest FHA-backed alternative is the Title I property improvement loan, which is unsecured up to 7,500 dollars or secured up to 25,000 dollars for single-family homes. For larger amounts secured by home equity, you need a conventional HELOC or HEL.

Can I get a HELOC after Chapter 7 bankruptcy?

Most lenders require 4 years from Chapter 7 discharge for HELOC eligibility. Some specialist lenders go to 2 years post-discharge with significant compensating factors. Chapter 13 has different timing depending on whether the case was completed.

Will paying off old collections improve my FICO?

Paying off old collections does not always improve FICO 8 or 9 scores meaningfully; the collection-paid notation removes some weight but the underlying derogatory mark remains until it ages off. For mortgage purposes, paid collections may improve the underwriter's judgement even if the score does not move. Speak to a credit counselor before paying off old collections; in some cases requesting pay-for-delete agreements (the collector removes the item entirely in exchange for payment) is more valuable than just paying.

What's the cheapest way to borrow at 680 FICO for renovations?

Personal loan at 9 to 14 percent fixed, depending on lender and credit. HELOC at 10 to 12 percent variable. HEL at 9.5 to 12 percent fixed. Cash-out refi at 8 to 9 percent if your existing mortgage is at 6+ percent. Compare on all-in cost (rate plus closing) against the actual project amount and timeline.

Keep Reading

Sub-660: very limited lender options Tier 700-739: the middle band Tier 740+: prime tier Figure: accepts 640+ files Credit unions flexibility vs cash-out refinance

Not credit, mortgage, or financial advice. Borrowing against home equity at near-prime credit is a meaningful commitment that carries foreclosure risk. Consult a HUD-approved housing counselor or a fee-only financial planner before borrowing. Rates current May 2026.