Today’s credit scores, by contrast, according to Amy Crews Cutts, chief economist for Equifax, are high: A median 770 Vantage score for HELOCs and 713 for home equity loans or second mortgages. But.

The minimum credit score for a home equity loan with most lenders is between 660 and 680, according to TD Bank manager Mike Kinane, speaking to Bankrate. Some lenders qualify borrowers with a FICO score as low as 620, however, depending on other aspects of their credit.

Your credit score plays a crucial role in your. a low FICO score on your payment for a HELOC and.

Having a good credit score is typically a requirement of getting a HELOC. Just like other loans, your credit score is one of the ways a lender.

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 · Home Equity Line of Credit 101. (Right now, rates are lower on HELOCs than home equity loans – a $30,000 HELOC is averaging 4.64% right now; the same amount in a home equity loan is 6.00%.) The takeaway here is that it pays to bring your credit score up before you apply.

A U.S. Bank Home Equity Line of Credit, or HELOC, lets the equity you’ve built in your home work harder for you. By borrowing funds against your home’s equity when you need it, a HELOC can be ideal whether you’re paying for a major expense or simply want to have quick access to emergency funds.

A home equity line of credit, or HELOC, is a type of home equity loan that works similar to a credit card. You’re preapproved for a certain amount, which is a revolving line of credit. You’re allowed to borrow as much as you need as long as you don’t go over your limit.

Lenders typically require a minimum credit score of 620 for a HELOC, but some may have higher minimums. A HELOC is split into two parts: the draw period and the repayment period.