Best HELOC Rates in Columbus, Ohio 2026

Columbus has emerged as one of the Midwest's strongest housing markets, combining steady appreciation, a diversified economy, and affordable home values around $290,000. The city's growth—fueled by tech expansion, Ohio State University, and major corporate headquarters—has created substantial equity for homeowners who bought in the past 5-10 years.

This guide examines the best HELOC rates available to Columbus homeowners in 2026, covering local credit unions, Ohio-based regional banks, and national lenders serving central Ohio.

Current HELOC Rates in Columbus

HELOC rates in Columbus currently range from 7.60% to 10.00% APR depending on credit profile, combined loan-to-value ratio, and lender. Ohio's competitive banking market and Columbus's economic strength create favorable conditions for borrowers.

Columbus-area lenders include:

Local Credit Unions: Directions Credit Union, Ohio Health Credit Union, and Columbus Metro Federal Credit Union offer competitive rates with local decision-making.

Regional Banks: Huntington Bank (headquartered in Columbus) and Fifth Third Bank provide regional expertise with competitive pricing.

National Banks: Chase, PNC, and KeyBank maintain significant Columbus presence with standardized products.

Online Lenders: Figure, LendingClub, and other digital-first lenders serve Columbus borrowers with streamlined processes.

Top HELOC Lenders in Columbus

Huntington Bank

Headquartered in Columbus, Huntington offers HELOCs with deep local market knowledge. Current rates start around 7.60% APR.

Highlights:

• Columbus headquarters means strong local commitment
• Relationship discounts available (checking, savings accounts)
• Up to 89.99% CLTV
• Borrow up to $500,000
• Extensive branch network throughout central Ohio
• No closing costs for HELOCs up to $250,000

Huntington's Columbus roots and understanding of neighborhoods from German Village to Dublin to New Albany make them a natural choice for local borrowers.

Directions Credit Union

Directions Credit Union serves central Ohio with competitive HELOC rates starting around 7.65% APR.

Highlights:

• No closing costs on many HELOCs
• Up to 90% CLTV
• Membership broadly available to Ohio residents
• Local underwriting and decision-making
• Understanding of Columbus neighborhoods
• Competitive rates for members

Fifth Third Bank

Fifth Third, with major Columbus operations, offers HELOCs with rates starting around 7.75% APR.

Highlights:

• Relationship pricing discounts
• Up to 85% CLTV
• Borrow up to $500,000
• Fixed-rate conversion option
• Strong Ohio presence
• Local branch network

Figure

Figure's digital platform serves Columbus homeowners entirely online with rates starting around 7.95% APR.

Highlights:

• Fully online application and approval
• Funding in as few as 5 days
• Borrow $15,000 to $400,000
• Up to 95% CLTV (property dependent)
• No prepayment penalties
• Blockchain-secured process

For Columbus's tech-savvy professionals (many working in the city's growing tech sector), Figure offers speed and convenience.

PNC Bank

PNC maintains significant Columbus presence with HELOCs starting around 8.00% APR.

Highlights:

• Up to 89.99% CLTV
• Relationship discounts available
• Borrow up to $500,000
• Extensive branch network
• Mobile and online banking
• Fixed-rate advance option

Columbus Market Characteristics

Steady Appreciation

Unlike boom-and-bust markets, Columbus has experienced consistent, sustainable appreciation:

• 5-7% annual appreciation over the past decade
• Limited volatility during economic downturns
• Median home values around $290,000 in 2026
• Strong fundamentals supporting continued growth

This steady appreciation means homeowners who purchased 5-10 years ago typically have substantial equity available.

Economic Diversification

Columbus's economy is remarkably diversified, creating stability:

Major Employers:

• Ohio State University (largest employer)
• State government
• JPMorgan Chase technology operations
• Nationwide Insurance headquarters
• Cardinal Health headquarters
• Major retail (L Brands/Bath & Body Works)
• Growing tech sector (Facebook, Google, Amazon)

This diversification provides employment stability that supports home values and lender confidence.

Neighborhood Variations

Columbus's diverse neighborhoods offer different characteristics:

German Village/Brewery District: Historic brick homes, strong appreciation, high values

Short North: Urban development, condos and townhomes, young professionals

Clintonville: Established single-family homes, strong community, stable values

Dublin/New Albany: Suburban, newer construction, high-income professionals

Hilliard/Grove City: Affordable suburbs, families, good schools

Lenders familiar with Columbus understand these neighborhood dynamics and their impact on property values.

Ohio State University Impact

OSU's presence affects Columbus housing in multiple ways:

• Student rental market near campus
• Faculty and staff homeownership demand
• Research park development
• Athletic event weekends boost local economy
• University employment stability

How Much Can You Borrow?

Columbus homeowners can typically borrow based on these parameters:

Combined Loan-to-Value (CLTV): Most lenders allow 85-90% CLTV.

Example: If your Columbus home is worth $300,000 and you owe $180,000 on your mortgage:

• At 85% CLTV: You could borrow up to $75,000 ($255,000 - $180,000)
• At 90% CLTV: You could borrow up to $90,000 ($270,000 - $180,000)

Credit Score Requirements: Most competitive rates require FICO scores of 700+, though some lenders approve borrowers with scores as low as 640 (at higher rates).

Debt-to-Income Ratios: Lenders typically require DTI below 43%, though some allow up to 50% with strong credit and reserves.

Common HELOC Uses in Columbus

Columbus homeowners typically use HELOCs for:

Home Improvements: Basement finishing (common in Ohio homes), kitchen/bathroom remodels, roof replacements, HVAC upgrades

Education Expenses: Funding Ohio State or other college costs for children

Debt Consolidation: Paying off high-interest credit cards or auto loans

Investment Properties: Down payments on rental properties (Columbus has strong rental demand)

Business Capital: Funding small businesses or startups in Columbus's growing entrepreneurial ecosystem

Emergency Reserves: Backup funds for unexpected expenses

Draw Period vs. Repayment Period

Understanding HELOC phases:

Draw Period (typically 10 years): Borrow and repay repeatedly up to your credit limit. Payments often cover interest only, though you can pay principal.

Repayment Period (typically 15-20 years): You can no longer borrow. Your balance is amortized over the remaining term with principal and interest payments.

Planning for the transition between these periods prevents payment shock. Many Columbus borrowers pay more than the interest-only minimum during the draw period to reduce repayment period burden.

Fixed-Rate Options

Several lenders offer fixed-rate conversion features:

Fifth Third: Fixed-rate option allows locking portions of your variable balance at fixed rates

PNC: Fixed-rate advance feature lets you convert outstanding balances to fixed terms

Huntington: Offers rate lock capabilities on portions of HELOC balance

These features provide protection against rising rates while maintaining HELOC flexibility.

Qualifying for Best Rates

To access the lowest Columbus HELOC rates:

1. Credit score 720+: Most competitive rates require excellent credit
2. Conservative CLTV: Borrowing at 80% rather than 90% CLTV often reduces rates by 0.25-0.50%
3. Existing banking relationship: Huntington, Fifth Third, and PNC offer relationship discounts
4. Stable employment: Two+ years with current employer strengthens applications
5. Low debt-to-income: Keeping DTI below 40% improves approval odds
6. Strong income documentation: Clear documentation of salary, bonuses, etc.
7. Shop multiple lenders: Rates can vary significantly for identical profiles

Application Process and Timeline

Typical Columbus HELOC application:

1. Pre-qualification (1-2 days): Soft credit pull, initial rate quote
2. Full application (3-5 days): Hard credit pull, documentation submission
3. Appraisal (1-2 weeks): Required by most lenders; costs $350-500 in Columbus
4. Underwriting (1-2 weeks): Income verification, title search, document review
5. Closing (3-5 days): Sign documents, three-day rescission period
6. Funding: Access to funds after rescission

Total timeline: 4-6 weeks for traditional lenders, 10-14 days for online lenders like Figure.

Ohio-Specific Considerations

Property Taxes

Ohio property taxes vary by school district and municipality:

• Typical Columbus-area rates: 1.5-2.5% of assessed value
• Some suburbs (Dublin, New Albany) have higher rates but strong schools
• Others (Hilliard, Grove City) offer lower taxes
• Property taxes affect overall housing affordability and borrowing capacity

Weather and Maintenance

Ohio's four-season climate creates specific home maintenance needs:

• Roof replacement typically needed every 15-20 years
• HVAC systems work year-round (heating and cooling)
• Foundation and basement issues from freeze-thaw cycles
• Many homeowners use HELOCs for major maintenance

Historic Homes

German Village, Victorian Village, and other historic neighborhoods have unique characteristics:

• Some properties have historic designation restrictions
• Renovation work may require approval
• Specialized lenders (like local credit unions) often better understand these properties
• Home values supported by historic character

Tax Considerations

HELOC interest may be tax-deductible if funds are used to "buy, build, or substantially improve" your home. Ohio has state income tax (ranging from 0% to 3.75% depending on income), so state tax deductibility also applies.

However, tax situations vary. Consult a tax professional familiar with Ohio tax law, especially if you itemize deductions.

HELOC Alternatives

Cash-Out Refinance: If current mortgage rates are competitive with your existing rate, cash-out refinancing might provide better overall terms than a HELOC.

Home Equity Loan: Fixed rates and predictable payments make sense when you need a lump sum and want payment certainty.

Personal Loan: For smaller amounts ($15,000-$40,000), personal loans avoid putting your home at risk, though rates are typically higher.

State/Local Programs: Columbus and Ohio offer various grant and loan programs for energy efficiency upgrades, historic preservation, and first-time buyer assistance (though most require primary financing).

Red Flags to Avoid

Excessive Fees: While reasonable closing costs are normal, avoid lenders charging:

• Application fees over $100
• Origination fees over 2% of credit line
• Annual fees over $100
• Prepayment penalties

Pressure Tactics: Reputable lenders give you time to review terms. High-pressure sales tactics are warning signs.

Too-Good-to-Be-True Rates: Rates significantly below market often hide fees, adjustable features, or balloon payments. Read the fine print.

Unlicensed Lenders: Verify lenders are properly licensed in Ohio. Check the Ohio Department of Commerce, Division of Financial Institutions.

Bottom Line

Columbus homeowners have excellent HELOC options in 2026, with rates starting around 7.60% for well-qualified borrowers. Huntington Bank's Columbus headquarters and deep local knowledge make them a top choice, while Directions Credit Union and Fifth Third offer competitive rates with strong regional presence.

The best HELOC for you depends on your priorities:

• Best rates: Huntington, Directions Credit Union
• Relationship banking: Fifth Third, PNC, Huntington
• Fastest funding: Figure, online lenders
• Local expertise: Directions CU, Huntington

Columbus's steady appreciation, diversified economy, and affordable home values create a sustainable foundation for home equity borrowing. The city's stable market means lower volatility risk compared to boom-and-bust metros.

Shop at least three lenders, compare total costs beyond just rates, and ensure your HELOC strategy aligns with your financial goals. Columbus's housing market fundamentals are strong, but responsible borrowing and maintaining adequate equity cushion remain essential for long-term financial health.

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