Best HELOC Lenders in Kentucky (December 2024)

Truist Bank stands out as the best HELOC lender in Kentucky with a MoneyGeek score of 95 out of 100. It offers an average APR of 9.63% for both $50K and $100K line limits. The bank provides a 10-year draw period and a 20-year repayment period, which can benefit borrowers in Kentucky by offering flexibility in accessing and repaying funds over an extended timeframe.

Borrowers can benefit from its fixed-rate HELOC option and the ability to advance closing costs while waiving reimbursement. However, it's important to note the $50 annual fee and the limitation that the HELOC can only be secured with a primary or secondary home or condo.

Regions Bank is the runner-up for the best HELOC lender in Kentucky, with a MoneyGeek score of 94 out of 100. It offers an average HELOC APR of 9.13% for $50K and $100K line limits. The draw period of 10 years and repayment period of 20 years can benefit borrowers in Kentucky by providing flexibility in accessing and repaying funds.

Borrowers can benefit from a 6.99% introductory APR for the first six billing cycles and the option to convert variable rate balances to fixed rates. Be aware of potential overlimit fees of $29 and late fees ranging from $29 to $100.

PNC Bank is recognized as the best HELOC lender in Kentucky for affordability, earning a MoneyGeek score of 93 out of 100. With an average HELOC APR of 9.43%, it offers competitive rates that can help borrowers in Kentucky manage costs effectively. The repayment period of 5 to 30 years provides flexibility, allowing borrowers to choose terms that best fit their financial situation.

Borrowers can benefit from the ability to borrow up to $1 million and a 0.25% interest rate discount for automatic payments from a PNC Bank checking account. However, it's important to note that PNC Bank charges a $50 annual fee, which should be considered when evaluating overall affordability.

Fifth Third Bank is recognized as the best HELOC lender in Kentucky for service quality, earning a MoneyGeek score of 100 out of 100. It offers an average HELOC APR of 10.13% and a draw period of 10 years.

The bank provides multiple ways to get in touch with its customer service support. It also offers a 0.25% autopay discount, which can benefit borrowers prioritizing service quality. However, it charges a $65 annual fee and a $95 fixed rate lock fee, which borrowers should consider.