Can You Get a HELOC With a 640 Credit Score?
Possibly. A 640 score meets the published minimum at some lenders and misses it at others, and many lenders publish no number at all. What usually decides the outcome at 640 is the rest of the file: how much equity you keep after the line, your debt-to-income ratio, and whether your credit report shows recent late payments. This page lists the score floors lenders publish, shows how equity and DTI can offset a fair score, and sets out a 60-day plan before you apply. A HELOC is secured by your home; the CFPB warns that "if you fall behind or can't repay the loan on schedule, you could lose your home."
Partner disclosure. Loans Generator may be paid through an affiliate network when you click or submit a request; this does not change what we report.
Key takeaways
- Freedom Mortgage and Figure both publish a 640 minimum for their HELOCs. U.S. Bank requires a FICO score of 660 or higher, so 640 falls short there.
- Freedom Mortgage's own guide says you will "likely need a credit score of at least 620" for a HELOC at lenders generally.
- At 640, a lower combined loan-to-value ratio and a lower DTI give a lender more reasons to say yes.
- Card balances are the fastest lever. FICO says amounts owed make up 30% of its score.
- If no lender will open a line, a smaller line, a co-borrower or an unsecured option may fit better than stretching for approval.
This page is part of our guide to home equity loans, HELOCs and refinancing.
Which lenders publish a HELOC minimum near 640?
| Lender or source | What it publishes about credit scores | Checked |
|---|---|---|
| Freedom Mortgage | "Freedom Mortgage requires a minimum credit score of 640 for a HELOC"; of lenders generally: "You'll likely need a credit score of at least 620 to qualify for a HELOC, but some lenders may prefer 720 or more" | Page updated May 1, 2026; read October 26, 2026 |
| Figure | Its comparison pages list a minimum credit score of 640, and its FAQ sets a 680 minimum for some multi-unit homes, such as duplexes. Its rate tool's lowest credit band is 640 to 659. | October 26, 2026 |
| U.S. Bank | "To qualify for a HELOC, you'll need a FICO score of 660 or higher" | October 26, 2026 |
| Navy Federal Credit Union | No minimum published; rates are "based on credit history" and loan-to-value, among other factors | October 26, 2026 |
| Rate (industry overview) | "Many lenders look for a minimum credit score of 600 as part of the HELOC approval process" | Published August 17, 2026; read October 26, 2026 |
Three lenders in this table publish an actual minimum: Freedom Mortgage (640), Figure (640, or a 680 minimum for some multi-unit homes, such as duplexes) and U.S. Bank (660). Rate's 600 and Freedom Mortgage's "at least 620" describe lenders in general. Navy Federal publishes no number. A floor is a minimum, not an approval: a lender that accepts 640 can still decline you for equity, DTI or recent late payments.
How can equity and DTI offset a 640 score?
Lenders price and approve on the whole file. Navy Federal, for example, names credit history alongside "loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy." In practice, a fair score paired with a large equity cushion and a modest DTI is a smaller risk to a lender than the same score with a line that takes the home to its limit.
Worked example: asking for less
Hypothetical inputs: home value $350,000, mortgage balance $210,000, score 640.
| Line requested | Mortgage plus line | CLTV | Equity left unborrowed |
|---|---|---|---|
| $87,500 | $297,500 | 85.00% | $52,500 |
| $70,000 | $280,000 | 80.00% | $70,000 |
| $52,500 | $262,500 | 75.00% | $87,500 |
CLTV is the mortgage plus the line, divided by the home's value: $297,500 ÷ $350,000 = 85.00%, $280,000 ÷ $350,000 = 80.00%, $262,500 ÷ $350,000 = 75.00%. Dropping the request from $87,500 to $52,500 leaves $35,000 more equity in the home. No lender promises that a lower CLTV will get a 640 file approved, but it removes one reason to decline. The HELOC requirements page covers the equity and DTI rules in full.
What should you fix in the 60 days before you apply?
- Pull all three reports. The CFPB says you can request a free report from each of Equifax, Experian and TransUnion at AnnualCreditReport.com. Dispute errors such as a late payment that was on time or a debt that is not yours.
- Lower card balances. FICO says its score is built from payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%). Card balances fall under amounts owed, and they change as soon as a lower balance is reported.
- Time the payment. Pay cards down before the statement closing date, so the lower balance is the one the issuer reports.
- Stop new applications. New credit is 10% of a FICO score. Hold off on new cards or loans until the HELOC is open.
- Keep every payment on time. Payment history is the largest category. One new late payment can outweigh everything above.
Worked example: utilization
Hypothetical inputs: $6,000 of card balances on $10,000 of limits.
- Utilization today = $6,000 ÷ $10,000 = 60%.
- Pay down $3,500: $2,500 ÷ $10,000 = 25%.
- Pay down $5,000: $1,000 ÷ $10,000 = 10%.
How many points this adds depends on the rest of your report, so treat it as a direction, not a forecast. Our guide to raising your credit score before a loan covers the steps in more detail.
Do not use the HELOC to fix the score. Drawing on a new line to pay off the cards that lowered your score can work, but it moves card debt onto your home. If the cards fill up again, you owe both, and the HELOC is secured by the house. Read using a HELOC to pay off credit cards before you plan it that way.
Comparing lenders when your score is near a floor. The service below shows HELOC options from several lenders, which matters when floors vary this much. Loans Generator may be paid through an affiliate network when you click or submit a request; this does not change what we report. A HELOC is secured by your home: if you cannot repay it, you could lose your home. No lender has to approve you, and no rate or line amount is promised. If the home is your principal dwelling, you generally have three business days after the line opens to cancel it under Regulation Z, and the lender must return the fees you paid to open it.
The comparison service is reviewed in our SuperMoney HELOC review.
What if no lender will open a line at 640?
- Wait and rebuild. Lower card balances count once the lower balance is reported, and each on-time payment adds to your history. Recheck your score before you reapply.
- Add a co-borrower with stronger credit and documented income, if the lender allows it and the person understands they share liability for a loan secured by the home.
- Look at a home equity investment. These shared-equity products have no monthly payment but take a share of your home's future value. Our home equity investment vs HELOC page compares the cost.
- Use an unsecured option for a small need. It keeps your home out of the deal. See home improvement loan vs HELOC.
Common questions
Is 640 a good enough credit score for a HELOC?
At some lenders, yes. Freedom Mortgage and Figure both publish a 640 minimum (Figure's FAQ sets a 680 minimum for some multi-unit homes, such as duplexes). At U.S. Bank, which requires 660, it is not. Many lenders publish no minimum.
Can I get a HELOC with a 620 credit score?
Possibly, at fewer lenders. Freedom Mortgage's guide says you will "likely need a credit score of at least 620" for a HELOC, and Rate says many lenders look for a minimum of 600. Freedom Mortgage's own minimum is 640, so it would not be one of them. Expect stricter equity and DTI requirements.
Will applying for a HELOC hurt my credit score?
A hard inquiry is new credit, which FICO weights at 10% of the score. Ask each lender whether its first step is a soft or hard pull before you apply.
Does a lower CLTV help with a fair credit score?
It can. Lenders such as Navy Federal name the loan-to-value ratio as a factor alongside credit history. A smaller line means more equity stays in the home.
Can I lose my home with a HELOC?
Yes. The CFPB warns that if you fall behind or cannot repay on schedule, you could lose your home.
Sources
- Consumer Financial Protection Bureau, "What is a home equity line of credit (HELOC)?", last reviewed August 28, 2026, accessed October 26, 2026.
- Consumer Financial Protection Bureau, "How do I get a free copy of my credit reports?", accessed October 26, 2026.
- Freedom Mortgage, "HELOC Requirements: How To Qualify", updated May 1, 2026, accessed October 26, 2026.
- U.S. Bank, "Home Equity Line of Credit (HELOC)", accessed October 26, 2026.
- Figure, "Home Equity Line of Credit (HELOC)" (rate tool credit bands), accessed October 26, 2026.
- Figure, comparison pages "Get Cash Faster with a Figure HELOC" (vs. Rocket Mortgage), "Compare a Figure HELOC vs. SoFi HELOC" and "Figure HELOC vs. Discover: Unlock your home equity faster" (credit score requirement rows), accessed October 26, 2026.
- Figure, "Home Equity Line of Credit (HELOC) FAQs", accessed October 26, 2026.
- Rate, "HELOC Approval Requirements: Credit Score, DTI, Income and More", published August 17, 2026, accessed October 26, 2026.
- Navy Federal Credit Union, "Home Equity Line of Credit (HELOC)", accessed October 26, 2026.
- myFICO, "How are FICO Scores Calculated?", accessed October 26, 2026.
- Freedom Mortgage, “HELOC Requirements: How To Qualify (updated May 1, 2026)”
- Figure, “Compare a Figure HELOC vs. SoFi HELOC”
- Figure, “Figure HELOC vs. Discover: Unlock your home equity faster”
- Rate (Guaranteed Rate), “HELOC Approval Requirements: Credit Score, DTI, Income and More (published August 17, 2026)”
Loans Generator is not a lender or mortgage broker and does not make credit decisions. Links on this page may lead to third-party comparison or matching services. A request on a comparison or matching site may be shared with several lenders, who may contact you and may check your credit. If you continue with a lender, you are applying for credit. We cannot guarantee approval, a line amount, a rate or any terms. A HELOC is secured by your home; if you cannot repay it, you could lose your home. Lender rules quoted here were checked on October 26, 2026 and change without notice. Availability and terms vary by lender and by state. This page is general information, not legal, tax or financial advice.