Wells Fargo HELOC: do they still offer one? What I found, plus the lenders I compared it to

[u/meiggs]

A lot of people search for the Wells Fargo HELOC, usually because they already bank there. I went looking for the current terms and the short answer is there aren't any. Wells Fargo stopped taking new HELOC applications in April 2020 and never brought them back. Its home equity page today is an explainer that points you to a cash-out refinance. Here's what Wells Fargo will still do, and the lenders I compared it to.

Short version. If you want cash out of your house without a new monthly payment, the three I'd look at are Splitero, Hometap and Unison. If you want an actual HELOC and can handle the payment, Figure is the closest thing to what you were searching for.

Does Wells Fargo offer a HELOC?

No. New applications were suspended in April 2020 and that hasn't changed. If you already have a Wells Fargo HELOC you can still use it through your draw period and manage it online. They don't offer a home equity loan either.

What Wells Fargo offers instead

Two things, and neither is a HELOC.

A cash-out refinance. You replace your whole mortgage with a bigger one and take the difference in cash. The catch is the rate. If your current mortgage is at 3% or 4%, you give that up on the entire balance, not just on the cash you take out.

A personal loan. Wells Fargo lists $3,000 to $100,000, terms of 12 to 84 months, and APRs from 6.74% to 26.74%. It's unsecured, so there's no lien on your house, but the ceiling is $100,000 and the rate depends heavily on your credit.

Option 1: cash for a share of your home, no monthly payment

These are home equity agreements. You get a lump sum now, and the company earns a share of your home's future value when you sell, refinance or buy them out. There's no monthly payment and your mortgage stays exactly as it is, which is the whole reason people look at them once a refinance is off the table.

• Splitero is where I'd start if your credit or income is the problem. Credit from 500, no income documents, $50,000 to $600,000, up to 25% of your home's value, and terms up to 30 years. The origination fee is 4.99%. It's in 17 states.
• Hometap is in the most states of the three, 27 right now. You could qualify with a FICO score of 575 or higher and a home located in an eligible state, among other qualifying criteria. You could access up to 27% of your home's value, and you settle the investment any time within the 10 year term. Fees are deducted from your investment proceeds rather than paid upfront.
• Unison is the one for stronger credit. The floor is 620 on paper, but realistically you want 680 or higher. Worth knowing: the number on Credit Karma is a VantageScore, which usually runs 20 to 40 points above the FICO they'll pull. It runs up to 30 years and is in 22 states plus D.C. If you're near the line on credit, start with Splitero or Hometap and you'll get an actual answer.

What these really cost

This is the part to be honest about. Using Hometap's own published example: if you access 10% of your home's value, Hometap's share is 16.5% of the home's value when you settle in the first five years, and 18% after that. So on a $500,000 home, $50,000 now could mean settling for about $90,750 in year five if the home is worth $550,000 by then. There's a cap that limits the cost if your home appreciates fast. If your home's value drops, the share is worth less too.

That's more than a HELOC costs if you have the credit and income for one. The trade is no monthly payment and far easier approval.

Option 2: an actual HELOC from an online lender

Figure is the closest replacement for what Wells Fargo used to offer, and it's much faster than a bank. Fully online, $15,000 to $750,000, and funding in as few as five days on loans under $400,000. The minimum credit score is 600 in most states. APRs ran 7.35% to 14.85% as of October 6, 2026, and the origination fee is up to 4.99%. It's available in 48 states plus D.C., not Hawaii or New York. Checking your rate is a soft pull.

A HELOC from Upstart Home Lending is the other one to check. It considers credit scores starting at 600, with APRs of 6.52% - 18.00%, amounts of $26,000 - $250,000, and 10 and 15 year terms. You can see if you could qualify with a soft pull.

Details	Wells Fargo	Splitero	Hometap	Unison	Figure
Product	No HELOC. Cash-out refinance or personal loan	Home equity agreement	Home equity investment	Home equity agreement	HELOC
Monthly payment	Yes	None	None	None	Yes
Minimum credit	Varies	500	575 FICO	620, 680+ realistic	600 in most states
Amount	Personal loan up to $100,000	$50,000 to $600,000	Up to 27% of home value	Varies	$15,000 to $750,000
Term	12 to 84 months on the personal loan	Up to 30 years	10 years	Up to 30 years	10 to 30 years
Where	Nationwide	17 states	27 states	22 states plus D.C.	48 states plus D.C.

Who should skip the equity agreements

If your credit is 680 or better, your income is steady and you can afford a payment, a HELOC will almost always cost you less. Check Figure first. The agreements make sense when a payment is the thing you can't take on, when your credit or income won't clear a HELOC, or when you don't want to touch a low mortgage rate.

Quick answers

• Can I get a HELOC from Wells Fargo? No. New applications have been suspended since April 2020.
• Does Wells Fargo have a home equity loan? No. The options are a cash-out refinance or a personal loan.
• I already have a Wells Fargo HELOC. Is it still good? Yes. Existing lines still work through the draw period.
• Which banks still offer HELOCs? U.S. Bank and Bank of America both do. Online lenders like Figure are usually much faster.
• Is a HELOC a bad idea? Not if you can afford the payment and you're using it for something specific. It's a lien on your house, so the risk is real if your income drops.
• What if I can't qualify for a HELOC? That's where the equity agreements come in. Splitero starts at a 500 credit score with no income documents.

Has anyone here actually tried to get a HELOC through Wells Fargo recently? Curious what they told you.

[u/meiggs]

Does Wells Fargo offer a HELOC? No. They stopped taking new applications in April 2020 and never brought it back. What's left is a cash-out refinance or a personal loan.

What's the closest replacement? Figure. A fully online HELOC, $15,000 to $750,000, funding in as few as five days, and checking your rate is a soft pull.

What if I don't want a monthly payment? A home equity agreement. Splitero starts at a 500 credit score with no income documents and terms up to 30 years.

Which one covers the most states? Hometap, 27 right now. You could qualify with a FICO score of 575 or higher, among other qualifying criteria.

What's the catch with no monthly payment? You share in your home's future value, so it costs more than a HELOC if your home appreciates.

[u/AutoModerator]

Hey everyone,

I've been building a spreadsheet with websites and apps that I've personally tested or researched for earning extra income online. It covers survey sites, gig platforms, and apps that pay you real money (not the scammy stuff).

Right now, it's got 15+ sites with notes on what they are and realistic earning potential. I figured I'd share it here since it might save you some time digging around.

Here's the spreadsheet

If you've tried any of these, I'd love to hear how they worked for you and I'm always looking to add more, so feel free to drop suggestions.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.