Best HELOC Lenders in Raleigh, NC (2026)

The Research Triangle has become one of America's most compelling real estate markets. Raleigh — anchored by North Carolina State University, a booming tech sector, and strong healthcare employment — has seen home values rise dramatically over the past decade. The median [home value](/blog/appraisal-process-explained) in the greater Raleigh-Durham area now sits near $420,000, and homeowners who purchased before 2020 have accumulated significant equity.

North Carolina's lending environment is straightforward, competitive, and friendly to HELOC borrowers. Whether you're renovating a craftsman in Boylan Heights, funding a rental in Durham, or consolidating debt in Cary, here's who offers the best HELOC terms in the Triangle.

HELOC Rates in Raleigh (February 2026)

Raleigh HELOC rates are competitive with national averages, with local credit unions offering the sharpest pricing:

North Carolina follows federal HELOC guidelines without additional state restrictions. Rates track the prime rate (8.50% as of February 2026) plus lender margin.

Best HELOC Lenders in Raleigh

1. State Employees' Credit Union (SECU) ⭐ Best Overall

SECU is North Carolina's dominant credit union — one of the largest in the entire country — and its HELOC product is a benchmark for the state.

• Rates: As low as 7.00% APR for members with excellent credit (some of the lowest in the state)
• Draw period: 5 years (shorter than most — plan accordingly)
• Repayment period: 10 years after draw
• Max CLTV: 90%
• Closing costs: Typically very low (SECU absorbs most fees)
• Annual fee: None
• Membership: Open to NC state and local government employees and their families (also open to many other NC residents through various eligibility pathways)
• Best for: Any Raleigh homeowner who qualifies for SECU membership — the rates are exceptional

Important SECU note: SECU's draw period (5 years) is shorter than the standard 10 years at most lenders. If you need a longer draw window, compare carefully.

2. Local Government Federal Credit Union (LGFCU) ⭐ Best for Government Workers

LGFCU is the sister credit union to SECU, serving North Carolina local government employees with similarly competitive products.

• Rates: Comparable to SECU — 7.00%–7.50% APR range
• Draw period: 5 years
• Max CLTV: 90%
• Membership: NC local government employees and their families
• Best for: Raleigh, Wake County, or Durham city/county employees

3. Coastal Federal Credit Union ⭐ Best Rates (Non-Government)

Coastal Federal Credit Union serves a broad NC membership base and offers rates that compete with SECU for non-government workers.

• Rates: 7.25% – 8.00% APR for qualifying members
• Draw period: 10 years (longer than SECU)
• Repayment period: 15 years
• Max CLTV: 90%
• Best for: Raleigh homeowners who don't qualify for SECU and want the next-best rate

4. First Bancorp / First Bank NC ⭐ Best Community Bank

First Bank is one of North Carolina's leading community banks with strong Triangle area presence and flexible underwriting.

• Rates: 7.75% – 8.75% APR
• Draw period: 10 years
• Manual underwriting available
• Best for: Self-employed Raleigh homeowners, real estate investors, or borrowers with complex income situations

5. Bank of America ⭐ Best National Bank (Charlotte HQ Advantage)

Bank of America is headquartered in Charlotte, NC — meaning its North Carolina [HELOC underwriting](/blog/heloc-application-mistakes) is unusually experienced for a national bank.

• Rates: 7.99% – 9.25% APR
• No closing costs: BofA covers title, appraisal, and origination fees
• Preferred Rewards discount: Up to 0.625% off for qualifying customers
• Max CLTV: 85%
• Best for: Existing BofA customers with substantial assets seeking no-cost HELOC with rate discount

6. Truist ⭐ Best Mid-Size Bank

Truist (BB&T + SunTrust merger) has deep North Carolina roots and competes effectively against national banks in the Triangle market.

• Rates: 8.00% – 9.00% APR
• Relationship pricing available
• Draw period: 10 years
• Best for: Existing Truist customers or borrowers who want a large bank with North Carolina heritage

7. Figure ⭐ Best Online Lender

Figure's digital HELOC is available in North Carolina and offers closing speeds traditional lenders can't match.

• Rates: 7.25% – 10.99% APR
• Max CLTV: 95%
• Closes in 5 business days
• Origination fee: 0% – 4.99%
• Best for: Time-constrained Raleigh borrowers who prefer a digital experience

8. Third Federal ⭐ Best Fixed Rate

Third Federal's fixed-rate HELOC eliminates variable-rate risk — appealing in today's uncertain rate environment.

• Rate: Fixed, approximately 7.49% APR
• No closing costs
• No annual fee
• Best for: Raleigh homeowners who want rate certainty and plan to draw a large sum at once

Research Triangle Market Dynamics

Why Raleigh Equity Has Grown

Raleigh's equity growth story is tied to its economic fundamentals: RTP (Research Triangle Park) anchors one of the most diversified tech and life sciences employment bases in the country. Apple, Google, Cisco, Lenovo, and hundreds of biotech firms employ a large professional class that drives housing demand. Combined with strong in-migration from the Northeast and California, Raleigh's population — and home values — have climbed steadily.

The Tech Worker Concentration

Like Seattle and Austin, Raleigh has a high concentration of tech workers with RSU compensation, signing bonuses, and variable income. Lenders handle this differently — some count only base salary; others will credit a portion of documented RSU vesting. If variable compensation is significant, ask lenders specifically how they handle it.

Raleigh Neighborhoods: Value Variation

Raleigh's inner neighborhoods (Five Points, Oakwood, Mordecai, North Hills) command significant premiums. Cary, Apex, and Wake Forest have appreciated strongly. If your appraisal comes in below expectations, request a full appraisal with manually reviewed comps rather than accepting an AVM.

Triangle Investment Property Market

Durham, Chapel Hill, and outer Raleigh suburbs have strong rental markets due to student demand and healthcare employment. HELOC funds are commonly used to finance investment property down payments — see DSCR Loans in Raleigh-Durham for the next step after accessing your equity.

Qualifying for a Raleigh HELOC

Standard requirements:

• Credit score: 680 minimum (720+ for best rates; 740+ for SECU-level pricing)
• CLTV: ≤90%
• DTI: ≤43%
• 2 years tax returns or W-2 documentation
• Homeowner's insurance confirmation

Self-employed borrowers: North Carolina lenders are generally reasonable about documenting self-employment income, particularly at community banks and credit unions. Expect to provide 2 years of complete business and personal returns.

How Much HELOC Can I Get in Raleigh?

Typical Raleigh calculation:

• Home value: $420,000
• Current mortgage: $230,000
• Max CLTV (90%): $378,000
• Available HELOC credit: $148,000

For a newer Cary or Apex home:

• Home value: $550,000
• Current mortgage: $300,000
• Max CLTV (90%): $495,000
• Available HELOC credit: $195,000

Raleigh HELOC vs. [Cash-Out Refinance](/blog/cash-out-refinance-guide)

With so many Triangle homeowners holding 2020–2022 mortgages at 3%–5%, cash-out refinancing at today's 7.00%+ rates is financially painful. A HELOC preserves your existing first mortgage rate while giving you a separate equity credit line.

The only exception: if you need a very large sum (e.g., $300,000+ for a major addition) and your current rate is close to today's market. Even then, model the blended cost carefully before refinancing.

See: HELOC vs. Cash-Out Refinance 2026

Common Uses for Raleigh HELOCs

• Whole-home renovations: Kitchen, bath, and primary suite upgrades have strong resale ROI in the competitive Triangle resale market
• ADU/in-law suite construction: Raleigh's [housing shortage](/blog/housing-inventory-crisis) and rental demand make ADUs highly viable
• Investment property funding: Triangle's rental market is tight; HELOC-funded down payments for DSCR loans are common
• College funding: With UNC, Duke, and NC State in the region, many Triangle parents use home equity for tuition

Frequently Asked Questions

Is SECU the best HELOC in North Carolina? For those who qualify, SECU's rates are unmatched in the state. The tradeoff is the shorter 5-year draw period. If you need 10 years of draw flexibility, Coastal Federal or a community bank may be better.

Can I get a HELOC on a Raleigh investment property? Yes. Expect higher rates and lower max CLTV (typically 70%–75%). First Bank and community banks are the most flexible for investment property HELOCs.

Does North Carolina have any special HELOC rules? No. North Carolina follows standard federal HELOC regulations without additional state restrictions.

Related Articles

• HELOC Rates in Raleigh, NC (2026)
• [North Carolina HELOC Guide](/blog/north-carolina-heloc-guide)
• DSCR Loans in Raleigh-Durham
• HELOC vs. Cash-Out Refinance 2026
• [[[Best HELOC Rates](/blog/heloc-rate-negotiation-guide) 2026](/blog/best-heloc-rates-2026)](/blog/best-heloc-rates-2026)
• [[HELOC for Investment Property](/blog/dscr-vs-heloc-for-investment-property)](/blog/heloc-for-investment-property)
• [How Much HELOC Can I Borrow?](/blog/how-much-heloc-can-i-borrow)