My Perfect Mortgage
Understanding the Benefits of a 100 LTV HELOC
8 minute read
September 14, 2023

Can you borrow 100% of your home equity?

Many homeowners assume that 100% mortgage loans disappeared in the late 2000s. 

While many options vanished, there are still ways to tap into all your home equity and use the cash for whatever you want.

The best part: you don't have to refinance your existing first mortgage.

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What’s in this article?

Where to find the best 100% LTV lenders
List of 100 LTV lenders in every state
Pros & cons of a 100% HELOC
90 & 85 LTV HELOC
HELOC vs home equity loan
100 LTV HELOC alternatives
Estimating max HELOC amount
Check you HELOC eligibility

Where to find the best 100% LTV HELOC lenders

A 100% LTV HELOC (home equity line of credit) is a separate mortgage that goes on top of your existing first mortgage. With it, you can access more of your home’s equity. 

One challenge to getting a 100% loan-to-value (LTV) HELOC is finding a lender that offers them.

The best place is typically a local credit union that operates in your state or area. Keep in mind that you’ll have to qualify as a credit union member to access programs. 

Often, the only requirement for membership is being a resident of the state. Other credit unions require you to be an employee of a certain company or member of an organization. 

To make things easier on you, we’ve compiled a list of 100% HELOC lenders in each state at the time of this writing. Check with the lender on their guidelines and if you qualify for membership (if it’s a credit union) and for the loan itself.

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  • Approval in 5 minutes. Funding in as few as 5 days
  • Borrow $20K-$400K
  • Consolidate debt or finance home projects
  • 640+ credit
  • 85% max loan-to-value (LTV)
  • *We may be compensated if you use this partner’s services through this link

List of the best 100% LTV lenders

We found one 100% LTV HELOC lender that lends nationwide except Alaska, Hawaii, and Puerto Rico: Signature Federal CU. On its website, it states it will sign you up for a membership with a participating organization for free, which qualifies you for membership to the credit union. Where we included Signature, we also included a local credit union that offers a lower LTV.

In all, we found 100% LTV lenders in 48 out of 50 states. Alaska and Texas are the outliers: we found lenders that offer LTVs only up to 80%.

If a listed lender can’t help you, we can try to connect you with a 100% LTV HELOC lender here.

We'll connect you with a HELOC lender here.

Alabama - Signature Federal CU, Redstone Federal CU (95% LTV),

Alaska - Matanuska Valley CU (80% LTV)

Arizona - Arizona Central CU

Arkansas - Signature Federal CU, Arkansas Federal CU (75% LTV),

California - Mission Fed CU

Colorado - CU of Denver

Connecticut - American Eagle Financial CU

Delaware - Dover FCU

District of Columbia - CommonWealth One

Florida - Florida CU

Georgia - Powerco FCU

Hawaii - HFS FCU

Idaho - America First CU

Illinois - U of I Community CU

Indiana - Elements Financial

Iowa - GreenState CU

Kansas - Mazuma

Kentucky - Commonwealth CU

Louisiana - La Capitol FCU, EFCU Financial

Maine - Infinity CU

Maryland - Tower FCU

Massachusetts - Freedom CU

  • Approval in 5 minutes. Funding in as few as 5 days
  • Borrow $20K-$400K
  • Consolidate debt or finance home projects
  • 640+ credit
  • 85% max loan-to-value (LTV)
  • *We may be compensated if you use this partner’s services through this link

Michigan - Consumers CU

Minnesota - Spire CU

Mississippi - Powerco FCU

Missouri - First Community CU

Montana - Signature Federal CU, Whitefish CU (90% LTV),

Nebraska - Centris FCU

Nevada - Great Basin FCU

New Hampshire - Triangle CU

New Jersey - Greater Alliance FCU

New Mexico - America First CU

New York - Greater Alliance FCU

North Carolina - Coastal CU

North Dakota - Signature Federal CU, Capital CU (90% LTV),

Ohio - Glass City CU

Oklahoma - Tinker FCU

Oregon - OnPoint Community CU

Pennsylvania - AmeriChoice FCU

Rhode Island - Rhode Island CU

South Carolina - Signature Federal CU, SC FCU (90% LTV)

South Dakota - Signature Federal CU, Black Hills FCU (above 90% LTV available)

Tennessee - Signature Federal CU, Old Hickory CU (80% LTV)

Texas - Greater Texas CU (80% LTV)

Utah - America First CU

Vermont - Vermont FCU

Virginia - Signature Federal CU

Washington State - Evergreen Direct CU

Washington, D.C. - Commonwealth CU

West Virginia - Signature Federal CU, Citizens Bank of WV (90% LTV)

Wisconsin - UW CU

Wyoming - WyHy FCU

There you have it. The ultimate state list of 100% loan-to-value home equity line lenders.

High LTV HELOC pros

You don’t lose your first mortgage rate: Most people refinanced their primary mortgage at 2-3% in 2020 and 2021. Now, rates are closer to 7.5%. To get a cash-out refinance, you have to replace your existing mortgage and lose your ultra-low rate.

Lower or no closing costs: HELOCs come with much lower closing costs than refinances. Some lenders offer zero closing cost HELOCs, while refinances cost thousands of dollars to complete.

Higher LTV maximums: Most cash-out refinance loans have a maximum of 80% LTV. As shown in the above list, most many HELOC and home equity loan (HEL) lenders offer high LTV HELOCs, as high as 100% of your home's current value.

HELOCs are “open-ended”: A HELOC gives you an available limit from which to borrow. You can borrow and pay down the balance as needed over a set period of time. 

Pay interest only on what you borrow: If you have a $100,000 home equity line, but you only borrow $50,000, you only pay interest on $50,000. 

Fast closing: Some HELOC lenders can close your loan in days, not weeks like it often takes for a traditional refinance.

Great for emergencies. Once you need emergency cash, you can no longer qualify for it. That’s why it’s smart to open a HELOC while you don’t need it. If you don’t draw anything from it, you don’t pay interest. That way you have it for an unexpected job loss or another unforeseen event.

Cons of a 100% LTV home equity line

Makes selling more difficult: If you have no equity in the house, you will have to pay money at closing to sell the home. Selling a home costs about 9-10% of the sales price for agent fees and third-party fees like title and escrow.

Harder to refinance the first mortgage. You’ll have to obtain a subordination agreement from the HELOC lender if you ever refinance the primary mortgage. That’s a document allowing the title company to put the HELOC back in 2nd position behind the new primary loan.

Variable rate: HELOCs come with a variable rate that’s based on the prime rate, which could rise or fall based on Federal Reserve actions.

  • Approval in 5 minutes. Funding in as few as 5 days
  • Borrow $20K-$400K
  • Consolidate debt or finance home projects
  • 640+ credit
  • 85% max loan-to-value (LTV)
  • *We may be compensated if you use this partner’s services through this link

HELOC vs home equity loan (HEL)

A HELOC is like a credit card. You have an available limit. You charge and pay off the balance as needed, and only pay interest on what’s currently borrowed.

A HEL gives you a lump sum upfront, and you start paying interest on the full amount immediately.

The typical advantage to a HEL is that it can come with a fixed rate, and eliminates the risk of the variable HELOC rate. 

Check your HEL or HELOC eligibility.

100% LTV home equity line alternatives

It’s not always the best choice to take out a home equity line or loan. Here are alternatives. 

VA cash out: Military veterans may have access to a 100% cash-out refinance. This replaces your current first mortgage with a bigger loan, issuing you the difference at closing.

Reverse mortgage: For those 62 and older, a reverse mortgage pays off existing loans and gives you a lump sum or monthly payment, or simply eliminates your monthly mortgage payment.

Personal loan: These loans are not attached to any hard asset, so they may come with higher rates. Still, it’s a viable solution for those who don’t need a large balance and do not want to encumber their property with more loans. Related: HELOC vs Personal Loan.

Hard-money loan: You can receive a hard money loan quickly without all the hoops of traditional financing. These are best for situations in which you’ll pay the loan back quickly.


While 100% LTV HELOCs are hard to find, a 90 LTV HELOC is quite common. Chances are that your local bank or credit union offers them.

A 90 LTV HELOC is when you leave 10% of the equity in your home. For example, a home worth $300,000 with a $200,000 existing loan balance could receive a 90% LTV HELOC of $70,000, assuming no closing costs.

$300,000 (value) - $200,000 (existing loan) - $30,000 (10% equity) = $70,000

A 90% line of credit could still allow you to make repairs or pay off other debt, plus leave you with some equity in the home in case you have to sell in the next few years (it costs about 9-10% of your home's value to sell).


An 85 LTV HELOC is even more common than a 90. Approval is easier than a 90-100% HELOC, and you may not need an appraisal.

Get approved for an 85 LTV HELOC in 5 minutes here (affiliate link).

HELOC rates

HELOC rates are based on the current prime rate, which rises and falls based on the federal fund rate set by the Federal Reserve. For instance, your HELOC rate could be prime + 0.25% or prime -0.25%. Your rate spread depends on your credit score and other loan factors. At the time of this writing, prime is 8.5%, so your rate could be 8.75% if you have a HELOC of prime + 0.25%.

Rates for 100% HELOCs could be higher than ones for 80-90% HELOCs.

Estimating your maximum loan amount

It’s fairly easy to calculate the amount of money you might get from a 100% HELOC.

Formula for 100% HELOC loan amount:

Home value - Existing loan - Closing costs = HELOC amount

For example:

Home value$500,000
Existing loan balance$350,000
HELOC closing costs$500
HELOC loan amount$149,500

Keep in mind that the home value will be determined by the lender, either via an appraisal or an automated valuation model (AVM) used by the lender. Also, you must qualify for the full payment to be eligible for the full amount.


Are 100% LTV HELOCs available in my state?

Most states have at least one credit union that offers 100% LTV HELOCs. See our list of 100% HELOC lenders in every state u003ca href=u0022

Is it hard to qualify for a 100% LTV HELOC?
How much cash can I get from a 100% LTV HELOC?
What credit score is needed for a 100% LTV HELOC?
What are current HELOC LTV limits?

Check your 100% HELOC eligibility

If this loan program sounds right for your situation, move to the next step and check your eligibility.

Check your home equity line or loan eligibility.

Our advise is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.