HELOC with a 620 credit score: lender minimums, rates and limits

8 min read · LenderMatch Learn

Some lenders may approve a HELOC with a 620 credit score, but many publish higher minimums. One home equity lender advertises a 640 FICO minimum, a large national bank asks for 660, and a national online lender says its minimum may start at 600. A 620 falls in FICO's "fair" range (580 to 669), so you can expect fewer lenders to choose from, a higher rate and often a lower borrowing limit than a borrower at 740.

Your score is only one part of the decision. Lenders also look at how much equity you have, your debt-to-income ratio and your income, and a strong showing there can carry a fair score. Below are the published minimums, how 620 changes your rate and limit, a worked example, and steps that may improve your odds. Because every lender draws its credit line in a different place, comparing several lenders at once is the fastest way to find the ones that work at 620.

Can I get a HELOC with a 620 credit score?

Yes, it is possible, but it is not a sure thing. There is no law that sets a minimum credit score for a HELOC. Each lender sets its own, and a 620 sits below several of the minimums lenders publish. That means you will likely be choosing from a smaller group of lenders.

Meeting a lender's minimum also isn't approval. One national online lender, for example, says its minimum may start at 600 but that approval also depends on your equity, income and other factors.

What is the minimum credit score for a HELOC?

Here are minimums as published on the lenders' own pages. They change, so check the lender's site before you apply.

A national mortgage lender summarizes the market this way: "Most lenders require a credit score of at least 620, but some may set the bar higher, around 680 or 700." In practice, 620 is at or below the floor for many lenders, so the rest of your application matters more than it would with a higher score.

Is 620 a fair credit score?

Yes. FICO scores run from 300 to 850, and myFICO groups them like this: below 580 is "poor," 580 to 669 is "fair," 670 to 739 is "good," 740 to 799 is "very good," and 800 and above is "exceptional." A 620 is in the lower half of the fair range, about 50 points below "good."

The score a lender uses can differ from the one in your banking app, and some use the lowest score among co-borrowers (one lender's published matrix does). Ask each lender which score it uses.

What lenders weigh besides your credit score

• Equity and CLTV. Combined loan-to-value (CLTV) is every loan on the home divided by its value. That mortgage lender says you'll typically need 15% to 20% equity, and that lenders usually cap the loan-to-value at 80% to 90%. Our guide on how much equity you can borrow walks through the formula.
• Debt-to-income ratio (DTI). The CFPB defines DTI as all your monthly debt payments divided by your gross monthly income, and notes that different lenders and loan products have different limits. The same mortgage lender says most lenders look for 43% or lower, though some accept more.
• Income and payment history. Payment history is the largest part of a FICO score (35%, according to myFICO), and recent late payments weigh heavily at any score.
• The property. Limits are often lower for second homes and rentals. One lender's published HELOC matrix, for example, caps owner-occupied homes at up to 95% but investment properties at 70%.

How a 620 credit score changes your HELOC rate

Most HELOCs have a variable rate equal to an index, usually the prime rate, plus a margin the lender sets. Prime was 7.00% as of October 20, 2026 (Federal Reserve H.15). The margin is where your credit score shows up: lower scores typically get higher margins.

Lenders' advertised best rates assume strong credit. A large national bank says its lowest HELOC rate assumes a FICO score of 730 or higher and a 60% loan-to-value, and it reported HELOC APRs ranging from 6.20% to 11.10% as of September 17, 2026. A 620 borrower, if approved, may be priced toward the higher end of a range like that.

Here is what two example rates mean on a $50,000 balance during an interest-only draw period. These are illustrations, not quotes:

A two-point higher margin costs about $1,000 a year on $50,000. The HELOC payment calculator shows how the payment changes when the draw period ends and principal is added.

How a lower score can shrink your HELOC limit

Some lenders tie their CLTV limit to your score, so the same house supports a smaller line at 620 than at 760. One lender's published HELOC matrix for its 3-year-draw HELOC (release date June 11, 2024) shows the pattern: it allows up to 95% combined loan-to-value for owner-occupied homes at a 740+ FICO, 90% at 680 to 739, and 80% at 660 to 679. Lower tiers aren't listed on that matrix at all.

So at 620, plan around an 80% limit or less.

Worked example: a 620 score, a $400,000 home

Say your home is worth $400,000, you owe $260,000 on your mortgage, your gross income is $7,000 a month, and your current debt payments are $2,450 a month ($1,900 mortgage, $400 car, $150 in card minimums).

1. Borrowing room at 80% CLTV: $400,000 × 80% = $320,000, minus $260,000 owed = up to $60,000. At 90%, the same home would allow $100,000, but at 620 you may not see a 90% offer.
2. Your DTI today: $2,450 ÷ $7,000 = 35%.
3. DTI with a new $50,000 line: adding an interest-only payment of about $333 (at an example 8.00%) brings payments to $2,783, or about 40%. Some lenders qualify you on a higher, fully amortized payment, which would push the ratio up further.

At 40% you're under the 43% guideline that mortgage lender describes, with $10,000 of borrowing room left under 80% CLTV. That cushion on both measures is what can make a fair score work. Run your own numbers in the home equity calculator.

How to improve your odds of HELOC approval with fair credit

1. Check your credit reports for errors. The CFPB's HELOC booklet suggests checking your credit reports for errors that might have caused a downgrade in your credit. Correcting a real error can help your score without any new debt.
2. Pay down card balances. Amounts owed make up 30% of a FICO score (myFICO), and keeping balances low relative to your limits generally helps.
3. Keep every payment on time. Payment history is 35% of the score, the largest single part.
4. Ask for less. A smaller line lowers your CLTV and the payment that counts toward DTI.
5. Lower your DTI. Paying off a small installment loan, or adding a co-borrower's income, can bring the ratio down.
6. Compare several lenders in a short window. Minimums, margins and CLTV tiers vary by lender, so one decline doesn't mean every lender will say no. Our guide on whether rate shopping hurts your credit explains how inquiries are counted.

Home equity loan or cash-out refinance with a 620 credit score

A home equity loan gives you a lump sum at a fixed rate instead of a revolving line. Lenders look at the same things: your score, CLTV and DTI.

A cash-out refinance replaces your mortgage with a bigger one. Fannie Mae removed its 620 minimum score for loans run through its Desktop Underwriter system for casefiles created on or after November 16, 2025, though lenders can still set their own minimums. The catch: you give up your current mortgage rate. With the Freddie Mac 30-year average at 7.40% (week of October 15, 2026), that matters if your rate is lower. See cash-out refinance vs HELOC for the side-by-side math.

Minimum credit score for a HELOC in Texas

Texas does not set a credit score requirement. It sets a borrowing limit: under Article XVI, Section 50 of the Texas Constitution, all loans on your homestead combined cannot exceed 80% of its fair market value. The score minimum is up to each lender. Our Texas HELOC guide covers the 80% limit, the 12-day wait and the fee rules.

Frequently asked questions

Can I get a HELOC with a 620 credit score?

Possibly, but with fewer lenders to choose from. Several lenders publish minimums above 620 (640 at one lender, 660 at a large national bank), while a national online lender says its minimum may start at 600. Approval also depends on your equity, debt-to-income ratio and income, so a 620 with plenty of equity and low debt has better odds than a 620 with little of either.

What is the lowest credit score for a HELOC?

There is no single legal minimum. Each lender sets its own. Of the lenders we checked on October 21, 2026, the lowest published starting point was 600 (a national online lender). Many published minimums fall between 640 and 680.

Will a lower credit score raise my HELOC rate?

Usually, yes. Lenders advertise their lowest rates for strong scores and low loan-to-value ratios. A large national bank, for example, bases its lowest HELOC rate on a FICO score of 730 or higher and 60% loan-to-value, and its HELOC APRs ranged from 6.20% to 11.10% as of September 17, 2026.

Is a cash-out refinance easier to get with a 620 score?

It can be. Fannie Mae no longer sets a 620 minimum for loans run through its Desktop Underwriter system (for casefiles created on or after November 16, 2025), although each lender can still set its own minimum. A cash-out refinance replaces your whole mortgage, though, so compare it carefully if your current rate is low.

Does Texas have a minimum credit score for a HELOC?

Texas law sets borrowing limits, not a credit score. All loans on a Texas homestead combined cannot exceed 80% of its value. The credit score minimum is set by each lender.

Does LenderMatch check my credit?

No. LenderMatch never pulls your credit. A lender you choose may check it, with your permission, when you apply.

See which lenders could work with your score →