My Perfect Mortgage Compiles List Of 100% LTV HELOC Lenders In Nearly Every State

MyPerfectMortgage.com, an industry-leading mortgage and real estate resource, published a list of lenders in nearly every state that offer home equity lines of credit (HELOCs) up to 100% of the home's value.

The list is published at a time when it's particularly valuable to homeowners. Interest rates have risen so dramatically in the past three years that homeowners can't or don't want to tap into their home equity with a cash-out refinance.

"Home values have risen 29% since 2020 according to the U.S. Census Bureau," said Tim Lucas, Senior Editor at MyPerfectMortgage.com. "This has given homeowners massive equity in their homes. But they could experience a $1000-per-month increase in their mortgage payment if they used a standard cash-out refinance to tap that equity, based on Freddie Mac rate averages."

Unfortunately, finding generous loan-to-value (LTV) lending isn't easy.

"Interestingly, most high-LTV HELOC lenders are quiet about their offerings," said Lucas. "Our research involved intensive searching online, calling lenders, and scouring fine print. It's almost as if these institutions fear being overwhelmed with demand for these programs."

Findings show that credit unions are major players when it comes to high-LTV HELOC lending. In fact, only one bank appears on the list, with credit unions taking the other 49 spots.

Evidently, most nationwide banks, and even regional ones, aren't comfortable lending on 100% of a home's value.

"There's a real gap in the market, and honestly, a huge opportunity," said Lucas. "A nationwide lender could dominate today's white-hot HELOC market by offering a single, high-LTV product in every state."

One-hundred percent LTV home equity lenders were found in 48 out of 50 states, with exceptions being Alaska and Texas, where lenders' maximum was 80%.