Best HELOC Rates in Greenville SC 2026

Greenville homeowners have watched property values soar over the past decade as the Upstate South Carolina region transformed into one of the Southeast's hottest real estate markets. Whether you're renovating a downtown loft, consolidating debt, or funding a business in Greenville's thriving entrepreneurial ecosystem, a home equity line of credit (HELOC) offers flexible access to your home's equity.

This guide covers current HELOC rates in Greenville, the best local lenders, South Carolina's regulatory environment, and what Upstate homeowners need to know before tapping their equity.

Current HELOC Rates in Greenville (February 2026)

HELOC rates in the Greenville area currently range from 7.00% to 9.50% APR for borrowers with good to excellent credit. Your specific rate depends on your credit score, loan-to-value (LTV) ratio, income stability, and chosen lender.

Here's what Greenville-area lenders are offering:

• Local credit unions (best rates): 7.00% – 8.00% APR for borrowers with 740+ credit scores and LTV under 80%
• Regional banks: 7.50% – 8.75% APR with similar qualifications
• National banks: 8.25% – 9.50% APR, with occasional promotional introductory rates at 6.49% for 6–12 months
• Online lenders: 7.75% – 9.25% APR with fast approval

Most Greenville HELOCs feature variable rates tied to the prime rate (currently 8.50% as of February 2026). Lenders add or subtract a margin based on your credit profile. Strong borrowers might qualify for prime minus 1.50%, while higher-risk applicants could see prime plus 1.00%.

Fixed-Rate Lock Options

Several Greenville lenders now allow you to convert portions of your HELOC balance to a fixed rate, typically adding 0.50% – 0.75% to the variable rate. South Carolina Federal Credit Union and Greenville Federal Credit Union both offer this feature.

Best HELOC Lenders in Greenville

Local Credit Unions

South Carolina Federal Credit Union One of the largest credit unions in the Upstate with a strong Greenville presence. SC Federal offers competitive HELOC rates and deep knowledge of the local market.

• Typical rate: Prime minus 0.75% to prime minus 1.50%
• No closing costs on lines up to $250,000
• No annual fees
• Draw period: 10 years, repayment period: 20 years
• Membership: Anyone who lives, works, worships, or attends school in SC

Greenville Federal Credit Union Local credit union serving the Greenville metro area. Known for personalized service and competitive rates for members.

• Typical rate: Prime minus 0.50% to prime minus 1.00%
• No application fee
• Fixed-rate conversion option
• Free financial counseling for members

Georgia United Credit Union Based in Atlanta but serves Greenville area. Offers competitive rates and a strong digital banking platform.

• Typical rate: Prime minus 0.50% to prime + 0.00%
• No closing costs for lines under $200,000
• Online application with fast approval

Regional Banks

TD Bank Strong presence throughout Greenville with competitive HELOC offerings. TD offers relationship discounts and flexible terms.

• Standard rate: Prime + 0.00% to prime + 1.00%
• Relationship discount: 0.25% – 0.50% with checking account and direct deposit
• $75 annual fee (often waived)
• Fixed-rate lock option available

First Citizens Bank North Carolina-based regional bank with deep Upstate SC roots. First Citizens offers competitive rates and understands the Greenville market well.

• Standard rate: Prime + 0.25% to prime + 1.25%
• Local loan officers familiar with Greenville neighborhoods
• No annual fee for first two years

Synovus Bank Georgia-based regional bank with Greenville branches. Flexible underwriting helps borrowers with non-traditional income situations.

United Community Bank Regional bank serving the Carolinas and Georgia. Competitive rates and strong local presence.

National Banks

Bank of America / Wells Fargo / Truist All three have significant Greenville presence. Rates tend to be higher than local options, but they offer relationship discounts if you have other accounts with them.

Greenville Housing Market and Your Equity

Understanding Greenville's booming housing market helps you determine how much equity you can access.

Home Values

As of early 2026, the median home value in metro Greenville is approximately $345,000, according to local MLS data and Zillow. That represents extraordinary growth from the pre-pandemic median of about $210,000 in 2019 — roughly 64% appreciation.

Here's how values break down across popular Greenville areas:

Why Greenville Has Boomed

Economic Growth: Major employers like BMW Manufacturing, Michelin North America, GE, Prisma Health, and hundreds of growing tech companies have created strong job markets and wage growth.

Quality of Life: Downtown Greenville's transformation, Falls Park on the Reedy, excellent dining scene, proximity to the Blue Ridge Mountains, and mild climate attract transplants from across the country.

Business-Friendly Environment: Low taxes, right-to-work laws, and pro-business policies have attracted corporate relocations and expansions.

Remote Work Migration: The pandemic accelerated an existing trend of people moving from high-cost metros (NYC, Boston, California) to Greenville, driving demand and prices higher.

Furman, Clemson Proximity: Strong universities create talent pipelines and cultural amenities.

How Much Can You Borrow?

Most Greenville lenders allow a combined loan-to-value (CLTV) ratio of 80% to 90%. Here's a practical example:

Your home is worth $350,000 and you owe $210,000 on your mortgage. At 80% CLTV:

• $350,000 × 80% = $280,000
• $280,000 – $210,000 (mortgage) = $70,000 HELOC

At 90% CLTV (available from some lenders at a slightly higher rate):

• $350,000 × 90% = $315,000
• $315,000 – $210,000 = $105,000 HELOC

South Carolina HELOC Regulations

South Carolina has specific laws affecting HELOCs:

Homestead Exemption

South Carolina offers a homestead exemption that protects up to $72,425 of your home's equity from general creditors (as of 2026). However, this does not prevent foreclosure if you default on your mortgage or HELOC — those are secured debts.

No Prepayment Penalties

South Carolina does not prohibit prepayment penalties by law, but most lenders voluntarily offer HELOCs without prepayment penalties to remain competitive.

Required Disclosures

Lenders must provide federal Truth in Lending Act (TILA) disclosures explaining:

• How variable rates work
• Maximum rate caps
• Fees and closing costs
• Your three-day right to cancel after closing

Foreclosure Process

South Carolina is a judicial foreclosure state, meaning lenders must go through court to foreclose. This typically takes 6–12 months, giving borrowers more time to resolve issues compared to non-judicial states.

HELOC Qualification Requirements in Greenville

Greenville lenders typically require:

Credit Score

• 740+: Best rates and terms
• 680 – 739: Mid-tier rates, still competitive
• 620 – 679: Higher rates, additional documentation likely
• Below 620: Difficult to qualify; focus on credit improvement first

Debt-to-Income Ratio Most lenders want total monthly debt payments (including your projected HELOC payment, mortgage, car loans, credit cards) below 43% of your gross monthly income. Local credit unions sometimes allow up to 45% for borrowers with strong credit.

Equity Requirements You'll need at least 10% – 20% equity remaining after the HELOC is established.

Income Documentation

• W-2 employees: Recent pay stubs and two years of W-2s
• Self-employed: Two years of tax returns plus year-to-date profit and loss statement
• Business owners: Additional documentation may be required (business tax returns, balance sheets)
• Retirees: Social Security statements, pension documents, retirement account distributions

Property Appraisal Most lenders require a full appraisal for HELOCs over $100,000. Smaller lines may qualify for an automated valuation model (AVM) or desktop appraisal. Given Greenville's hot market and rapid price appreciation, lenders often require full appraisals to verify values.

What Greenville Homeowners Use HELOCs For

Home Improvements and Renovations The most common use. Greenville homeowners invest in kitchen and bathroom updates, outdoor living spaces, basement finishing, and energy-efficient upgrades (solar panels, new HVAC systems).

Debt Consolidation With credit card rates at 20% – 30%, using a 7% – 9% HELOC to consolidate high-interest debt saves thousands in interest and simplifies finances.

Business Investment Greenville has a thriving entrepreneurial ecosystem. Business owners use HELOCs to fund startup costs, equipment purchases, or expansion — though SBA loans may offer better terms for larger business needs.

Investment Property Down Payments Greenville's rental market is strong due to population growth and corporate relocations. Investors use HELOCs for down payments on rental properties.

Education Expenses Parents fund college costs for children attending Furman, Clemson, USC, or other universities.

Bridge Financing for Home Purchases In Greenville's competitive market, some buyers use HELOCs to make all-cash offers on new homes before selling their current property.

HELOC vs. Cash-Out Refinance in Greenville

If you have a low existing mortgage rate (many homeowners locked in 3% – 4% rates in 2020–2021), a HELOC usually makes more sense than a cash-out refinance:

HELOC Advantages:

• Keep your low first mortgage rate
• Only pay interest on what you actually borrow
• Minimal closing costs ($0 – $500)
• Faster approval (2–3 weeks)

Cash-Out Refinance Advantages:

• Single fixed payment (no variable rate risk)
• Potentially lower blended rate if your current mortgage rate is high
• Can borrow larger amounts

Example: You have a $250,000 mortgage at 3.5% and want to access $75,000. A cash-out refinance would create a new $325,000 mortgage at about 7.25%, increasing your payment from $1,123 to $2,217 — a $1,094 jump.

With a HELOC, you keep your $1,123 mortgage payment and add interest on $75,000 at 8.00% (roughly $500/month interest-only). Total: $1,623 — saving $594/month.

Greenville HELOC Application Timeline

Week 1: Application and Initial Review

• Submit application online or in-person
• Provide income documentation, property details, credit authorization
• Lender orders credit report and title search

Week 2: Appraisal and Underwriting

• Appraiser visits your property
• Underwriter reviews complete file
• May request additional documentation

Week 3: Approval and Closing

• Final approval issued
• Title work completed
• Closing scheduled (often at your home, a branch, or title company)
• HELOC funded 3 business days after closing (federal rescission period)

Total timeline: 2–4 weeks for most borrowers. Credit unions often move faster than large national banks.

Fees to Expect

Application Fee: $0 – $75 (most Greenville lenders charge nothing or minimal fees)

Appraisal: $400 – $600 (often waived for lines under $100,000 by credit unions)

Title Search and Insurance: $300 – $750 (frequently waived)

Recording Fees: $100 – $200 (county charges to record the lien)

Annual Fee: $0 – $75 (many credit unions waive this)

Early Closure Fee: Some lenders charge $300 – $500 if you close within 24–36 months

Tips for Getting the Best Rate in Greenville

Shop Multiple Lenders Rate differences of 1.00% – 1.50% are common. Check at least three lenders: a local credit union, a regional bank, and a national bank.

Join a Credit Union SC Federal and Greenville Federal consistently offer the lowest rates in the area. Membership is easy — typically just living or working in South Carolina.

Improve Your Credit Score Moving from 680 to 740 can save 0.50% – 1.00% on your rate. Pay down credit cards, dispute errors, avoid new credit applications for several months before applying.

Leverage Your Equity Wisely If you need $50,000 but qualify for $100,000, consider taking the smaller amount. Some lenders offer better rates on smaller HELOCs.

Ask About Relationship Discounts Banks like TD and First Citizens offer 0.25% – 0.50% discounts for direct deposit, maintaining minimum balances, or bundling services.

Time Your Application If possible, apply during periods when the Federal Reserve is holding rates steady or cutting, not immediately after rate hikes.

Negotiate If you have competing offers or excellent credit, ask your preferred lender to match or beat the best rate you've received.

Tax Implications

Under current federal tax law (as of 2026), HELOC interest is only tax-deductible if you use the funds to buy, build, or substantially improve your home. Interest on HELOCs used for debt consolidation, business purposes, or other non-home uses is not deductible.

Example: You borrow $80,000. You use $60,000 to renovate your kitchen and add a deck, and $20,000 to consolidate credit card debt. Only the interest on the $60,000 renovation portion is potentially tax-deductible.

South Carolina does not have additional state-level deductions for mortgage interest beyond federal law.

Consult a tax professional to understand how this applies to your specific situation.

Risks and Considerations

Variable Rate Risk Most HELOCs have variable rates. If the prime rate increases from 8.50% to 11.00%, your rate rises by 2.50%. On a $75,000 balance, that's an extra $156/month.

Foreclosure Risk Your HELOC is secured by your home. If you default, the lender can foreclose even if your first mortgage is current. South Carolina's judicial foreclosure process provides some time, but the risk is real.

Overspending Temptation Easy access to cash can lead to overspending. Use your HELOC strategically for value-adding improvements or debt consolidation — not lifestyle inflation.

Market Risk While Greenville has seen extraordinary growth, real estate markets can correct. If values decline after you've borrowed up to 90% CLTV, you could end up underwater (owing more than your home is worth).

Job Market Concentration Greenville's economy, while diversifying, still has significant concentration in manufacturing (BMW, Michelin, etc.). Economic downturns affecting automotive or industrial sectors could impact employment and property values.

Frequently Asked Questions

What credit score do I need for a HELOC in Greenville? Most lenders require a minimum of 620, but you'll need 740+ for the best rates. Local credit unions may be more flexible for members with established relationships.

How much equity do I need? You typically need to maintain 10% – 20% equity after your HELOC is established. If your home is worth $350,000, you'll need to keep $35,000 – $70,000 in equity.

Can I use a HELOC to start or grow a business? Yes, though be transparent with your lender about the intended use. For larger business needs, consider SBA loans or business lines of credit, which may offer better terms.

What's the difference between a HELOC and a home equity loan? A HELOC is a revolving line of credit with a variable rate — borrow as needed during the draw period. A home equity loan is a lump sum with a fixed rate and fixed payments. HELOCs offer flexibility; home equity loans offer payment certainty.

Can I pay off my HELOC early? Most Greenville lenders don't charge prepayment penalties, so you can pay down or pay off your balance anytime. Some charge an early closure fee if you close the account within 24–36 months — read your loan agreement.

What happens to my HELOC if I sell my home? You must pay off the HELOC at closing, just like your primary mortgage. The balance is deducted from your sale proceeds.

Are HELOC rates negotiable? Sometimes. If you have excellent credit, substantial equity, and competing offers from multiple lenders, you may be able to negotiate a lower rate or fee waivers.

What if I can't make my HELOC payments? Contact your lender immediately. Many credit unions and regional banks offer hardship programs, including temporary payment reduction or interest-only periods. Ignoring the problem can lead to foreclosure.

How does Greenville's hot housing market affect HELOC availability? Greenville's strong market generally makes HELOCs easier to obtain because lenders are confident in property values. However, rapid appreciation can sometimes lead to more conservative appraisals as lenders guard against potential corrections.

Can I get a HELOC if I recently moved to Greenville? Yes, as long as you've owned your home long enough to build equity and have stable income. Many lenders require you to have owned the property for at least 6–12 months, though some waive this for strong borrowers.

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Bottom Line: Greenville homeowners have excellent HELOC options in 2026, especially through local credit unions like SC Federal and Greenville Federal. The area's strong housing market and economic growth create favorable conditions for accessing home equity. Shop multiple lenders, understand the risks, and use your equity strategically. Whether you're renovating your home, consolidating debt, or funding a business venture, a HELOC can be a powerful financial tool when used wisely.

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• South Carolina HELOC Guide
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