Only a handful of banks that offer a first lien HELOC actually say so on their own sites. The short list: Figure, Navy Federal Credit Union, FNBA’s FlexFirst HELOC, CMG Financial’s All In One Loan and University Lending Group. Each one wants something different from you, so the right pick depends on where you’re starting.
House paid off? Price Figure first. A rate check there is a soft pull, and it writes first lien HELOCs on homes with no mortgage at all. Still sitting on a low mortgage rate? Then the smart move usually isn’t a first lien HELOC. It’s keeping that mortgage and adding a regular HELOC behind it.
- Offers first and second lien HELOCs, including on paid-off homes
- APRs ran 7.35% to 14.85% as of October 2026
- Lines start at $15,000. A rate check is a soft credit pull
- Funding in as few as 5 days on loans under $400,000
- Not available in New York
Banks that offer a first lien HELOC, side by side
Five lenders whose own pages say they write one. Figure comes first because you can check a rate online in minutes without a hard pull.
| Lender | Who can get it | Line size | APR | How it works |
|---|---|---|---|---|
| Figure | Online. Not available in New York | Lines start at $15,000. Over $400,000 needs an appraisal | 7.35% to 14.85% as of October 2026 | Pays off your most junior lien at closing, mortgages included. Fixed rate option is fully drawn at closing |
| Navy Federal Credit Union | Members only: armed forces, DoD, veterans and their families. Not in Texas | $10,000 to $500,000 | Variable, from 7.25% for a 750 FICO with a 70% maximum HLTV | 20 year draw, then 20 year repayment. Navy Federal pays the closing costs |
| FNBA FlexFirst HELOC | Comes with an FNBA checking account | Not listed on its page | Variable, based on the 30 day average SOFR. No rate posted | Replaces your mortgage. Daily sweep from an FNBA checking account |
| CMG All In One Loan | Through mortgage brokers and loan officers in select markets | Up to $2 million | Not listed on its page | 30 year term with 30 year draw access. Built-in sweep checking |
| University Lending Group | A division of University Bank | Not listed | Not listed | Checks and a debit card. Optional sweep account |
Terms come from each lender’s own pages. Figure’s APRs are as of October 2026. Confirm current terms with the lender before you apply.
What makes a HELOC first lien
It’s about who gets paid first if the house is sold or foreclosed on. A regular HELOC sits behind your mortgage. A first lien HELOC is the only lien, or the first one in line.
You get there one of two ways. Own the home free and clear, and any HELOC you open is automatically in first position. Or let the HELOC pay off your mortgage at closing and take its spot.
Quick version: paid-off house, almost any HELOC lender works. Replacing a mortgage, you need one of the lenders below that is set up to pay it off.
More: First lien HELOC: how it works and when it makes sense
Figure is the fastest one to price
Figure is the online option, and it’s the easiest place to get a real number. Its FAQ says it writes both first liens and second liens, including on homes that are fully paid off. It can also pay off the most junior lien on your property at closing, mortgages included.
As of October 2026, initial APRs ran 7.35% to 14.85%. Lines start at $15,000, and anything over $400,000 needs an appraisal. On loans under $400,000, funding can happen in as few as 5 days.
Credit? The minimum score is set by state. Investment properties need 660 or higher. And you can’t get it in New York.
Know this first: Figure’s fixed rate option is fully drawn at closing, minus an origination fee of 0% to 4.99% of the draw. You redraw as you pay it down. So you pay interest on the whole line from day one.
More: Our full Figure HELOC review
See what Figure would offer on your house. It won’t touch your score.
Navy Federal Credit Union, if you can join
Navy Federal‘s HELOC can sit in first position, and its disclosures cover escrow for first lien HELOCs. The catch is membership. It’s open to the armed forces, the DoD, veterans and their families.
If you’re in, the terms are strong. The variable APR starts at 7.25% for a 750 FICO with a 70% maximum HLTV. Lines run $10,000 to $500,000, you get a 20 year draw period and a 20 year repayment period, and Navy Federal pays the closing costs.
Two things to plan around. Closing takes about 30 to 40 days, and it isn’t available in Texas. Navy Federal also warns that its interest-only option leads to a bigger payment once the draw period ends.
FNBA FlexFirst HELOC and its daily sweep
First National Bank of America’s FlexFirst HELOC replaces your mortgage outright. It links to an FNBA checking account, and whatever cash is left at the end of every day gets swept against the balance.
The rate is variable, based on the 30 day average SOFR. On a primary residence you get a 10 year draw period with interest-only and escrow payments, then a 20 year repayment period. FNBA’s page doesn’t post a rate, so you’ll have to ask.
Who’s it for? Someone with a big monthly surplus who wants paychecks working against the balance every single day.
CMG All In One Loan for bigger balances
CMG Financial’s All In One Loan is a first lien HELOC with a sweep checking account built in. You don’t apply with CMG directly. It’s offered through mortgage brokers and loan officers in select markets.
Loan amounts go up to $2 million. It’s a 30 year term with 30 year draw access, and you can use it to buy or refinance a primary home, a second home or a non-owner occupied home. That makes it the one to ask about if you’re buying, not just refinancing.
University Lending Group
University Lending Group, a division of University Bank, offers a 1st lien HELOC you tap with checks and a debit card. The sweep account is optional, so you can skip it if you’d rather just use the line.
Not on this list? Plenty of regional banks and credit unions write first lien HELOCs too, often only in their own area. If you already bank somewhere local, ask them directly before you shop anywhere else.
What these lenders charge
Almost all of them are variable, tied to the prime rate or SOFR. The lowest advertised APRs on the lenders’ own pages are 7.25% at Navy Federal (for a 750 FICO, a primary residence and a 70% maximum HLTV) and 7.35% at Figure. FNBA doesn’t list one.
Your number will depend on your credit, how much equity you keep, the line amount and whether it’s your primary home. Bottom line: get two quotes. Figure’s rate check is a soft pull, so the first one costs your credit nothing.
The catches with any first lien HELOC
Read this before you sign
- Your fixed mortgage rate is gone. The whole balance moves to the HELOC’s rate, which is usually variable.
- Escrow comes along. Navy Federal’s disclosures say the member pays prepaid interest and escrow on first lien HELOCs. FNBA’s draw period payments are interest plus escrow.
- The payment can jump. When an interest-only draw period ends, you start paying principal too.
- No bottom on the account. A line you can redraw is easy to treat like checking.
Where it’s a good deal
- Paid-off house. A line of credit that’s usually cheaper than a personal loan or a credit card.
- Small balance, higher rate. If you already owe a little at a rate close to HELOC pricing, you lose very little.
- Big monthly surplus. The sweep puts every leftover dollar against the balance.
Paid-off house? Get a number from Figure and put it next to your own bank’s.
Got a low mortgage rate? Keep it
Here’s where most sweep account pitches fall apart. If your mortgage is in the 3% to 5% range, moving it to a variable HELOC at today’s prices costs more than the sweep saves. Owe $300,000 at 3.5% and swap it for an example 7.5% line, and you’d pay around $11,000 more in interest in the first year, even after the sweep.
More: First lien HELOC vs. mortgage: the math
The smarter move is a regular second lien HELOC behind the mortgage you already have. Upstart Home Lending is worth a quote for that. A HELOC from Upstart Home Lending runs $26,000 to $250,000 with 10 and 15 year terms, at 6.52% to 18.00% APR1, with an easy, online application. Checking your APR is a soft pull.
The lowest APR is available only to borrowers who meet specific eligibility conditions.
Know this first: you take at least 80% of your Upstart Home Lending line at closing. Size it to what you’ll actually spend soon.
More: Read the Upstart Home Lending HELOC review
Keeping your mortgage? See whether Upstart Home Lending could approve you for a HELOC.
Retired, or income that is hard to document?
This one trips up a lot of people who own their home outright. Most HELOC lenders want income they can verify, and a retirement income can be tough to show on paper.
A home equity investment like Splitero works differently. There are no monthly payments and no income requirement, with terms from 10 to 30 years. The trade-off: you give up a share of your home’s value when you exit. If the home goes up in value, that usually costs more than a HELOC would.
More: Splitero review and HEI vs HELOC
Who should pick which
Figure fits if your home is paid off, or nearly so, and you want a real number fast without a hard inquiry.
Navy Federal fits if you’re eligible for membership and can wait 30 to 40 days in exchange for having your closing costs covered.
FNBA FlexFirst or CMG’s All In One Loan fits if you owe a small balance, bring in a lot more than you spend every month, and want the sweep doing the work.
University Lending Group fits if you want a first lien line you can spend from with checks and a debit card.
Upstart Home Lending fits if you’re keeping a low-rate mortgage and just need cash on top of it.
Splitero fits if you’re retired or your income is hard to document, and a monthly payment isn’t something you want.
And if a payment that floats would wreck your budget, skip the first lien HELOC entirely. It puts your whole housing debt on a moving rate.
Banks that offer a first lien HELOC: the bottom line
For a paid-off house, a first lien HELOC is a solid, cheap line of credit, and Figure is the quickest place to see your number. Compare it with your own bank or credit union before you sign.
For a 3% mortgage, it’s usually a bad trade. Keep the mortgage, add a regular HELOC if you need cash, and make extra principal payments if you want the house paid off faster.
Figure could make sense if your home is paid off, you want the cash soon, and you’d like a quote that won’t ding your credit.
First lien HELOC lenders FAQ
Figure, Navy Federal Credit Union, FNBA (its FlexFirst HELOC), CMG Financial (its All In One Loan) and University Lending Group all say on their own pages that they offer one. Some regional banks and credit unions do too, often only in their own area. For a paid-off home, Figure is the quickest to price, since checking your rate is a soft pull.
Yes. Navy Federal’s HELOC can sit in first position, and its disclosures cover escrow for first lien HELOCs. Membership is open to the armed forces, the DoD, veterans and their families. Lines run $10,000 to $500,000 with a 20 year draw period and a 20 year repayment period, and it isn’t available in Texas.
Some can. Figure says it can directly pay off the most junior lien on the property at closing, mortgages included. FNBA’s FlexFirst HELOC and CMG’s All In One Loan are built to replace your mortgage and pair it with a sweep checking account.
Usually variable, tied to the prime rate or SOFR. Figure also has a fixed rate option, but that line is fully drawn at closing, and you redraw as you pay it down.
Usually, yes. Once the HELOC is in first position, property taxes and insurance typically move into its payment. Navy Federal’s disclosures say the member pays prepaid interest and escrow on first lien HELOCs, and FNBA’s draw period payments are interest plus escrow.
Usually not. If your mortgage is in the 3% to 5% range, the HELOC’s higher, variable rate tends to cost more than the sweep saves. Keep the mortgage and add a regular second lien HELOC if you need cash. A HELOC from Upstart Home Lending runs $26,000 to $250,000 with 10 and 15 year terms, and you take at least 80% of the line at closing.
Most HELOC lenders want income they can verify. A home equity investment like Splitero has no monthly payments and no income requirement, with terms from 10 to 30 years. You give up a share of your home’s value when you exit.
Upstart Home Lending disclosures
Upstart Mortgage, LLC dba Upstart Home Lending. NMLS #2443873. Equal Housing Opportunity.
1 Terms shown here are subject to change without notice. APRs for initial advances range from 6.52% to 18.00% based on rates offered as of June 2026. The lowest rate is only available to consumers willing to become a member of a credit union and to those who meet a minimum FICO score of 780, CLTV under 70%, and DTI under 45%. Your actual rate will depend on many factors such as your credit history, combined loan-to-value ratio (CLTV), line amount, loan term, lien position, and property state. Origination fee to open an account is between 0% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.00%. Property insurance is required.
Take the next step.
Paid-off house, or keeping your mortgage? Two HELOCs to price first.
Lines start at $15,000. Soft credit pull to check your rate. Funding in as few as 5 days on loans under $400,000.
$26,000 to $250,000 with 10 and 15 year terms. You take at least 80% of the line at closing.
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