Navigating the world of home equity loans can be challenging, especially when seeking options that do not require a traditional in-person appraisal. No-appraisal home equity loans are designed to simplify the borrowing process, reduce upfront costs, and expedite funding. Below, we present the top four lenders offering reliable, no-appraisal options for homeowners in October 2025, with a focus on loan amounts, interest rates, terms, and eligibility.
1. Connexus Credit Union – Best Overall No-Appraisal Home Equity Loan
Connexus Credit Union stands out as the premier choice for borrowers seeking flexible terms and competitive rates. They offer both home equity loans and HELOCs without requiring a traditional appraisal. Borrowers can access up to 90% loan-to-value (LTV) ratios, with flexible term options including 5, 10, and 15-year fixed-rate home equity loans, and a 15-year draw period for HELOCs. Interest rates are highly competitive, starting at 5.99% APR for variable HELOCs and 7.31% APR for fixed-rate home equity loans. A credit score minimum of 640 is required. This lender allows single-family homes, two- to four-unit condominiums, townhouses, and owner-occupied duplexes. While membership is required and closing costs range from $175 to $2,000, the combination of high LTV limits and flexible terms makes Connexus a top-tier option.
2. Figure Lending – Best No-Appraisal HELOC
Figure Lending specializes in HELOCs without appraisals, making it an ideal choice for borrowers seeking rapid funding. With maximum loan amounts of $400,000 and LTV ratios up to 85%, Figure provides fast approvals in as little as five days. Borrowers benefit from low, fixed interest rates and multiple term options. This lender also supports second homes, offering flexibility for diverse property types. Borrowers should note a 4.99% origination fee, and that availability is limited in Hawaii, New York, and West Virginia.
3. Rate – Best for Low Interest Rates on Home Equity Loans
Rate provides competitive rates for both home equity loans and HELOCs, focusing on affordability and straightforward application processes. While specific terms vary, Rate emphasizes efficient processing and attractive fixed-rate options, appealing to borrowers who prioritize cost-effective long-term financing.
4. PenFed Credit Union – Best for Smaller Loan Amounts
PenFed Credit Union offers home equity loans and HELOCs that cater to borrowers seeking smaller loan amounts. This option is ideal for homeowners who require modest funding without the hassle of a full appraisal. While detailed terms are limited, PenFed’s credit union membership benefits and accessible loan structure make it a reliable alternative for qualifying applicants.
Understanding No-Appraisal Home Equity Loans
No-appraisal loans eliminate the need for traditional, costly in-person appraisals. Lenders use automated valuation models (AVMs) or comparable data to estimate home value. This reduces upfront costs, often saving $300 to $400, and speeds up loan processing. Borrowers gain faster access to funds, lower fees, and less paperwork, making these loans an efficient solution for urgent financial needs.
For borrowers seeking convenient, cost-effective, and reliable home equity financing, these four lenders offer trusted no-appraisal solutions. By carefully comparing interest rates, terms, fees, and eligibility, homeowners can secure the best option for their financial goals.
Explore these no-appraisal home equity loan options today and take advantage of the fastest, most flexible funding available.