At Achieve, we're committed to providing you with the most accurate, relevant and helpful financial information. While some of our content may include references to products or services we offer, our editorial integrity ensures that our experts’ opinions aren’t influenced by compensation.
Home Equity Loans
How loanDepot’s home equity loan compares to Achieve Loans
Sep 30, 2026
Written by
Reviewed by
Key takeaways:
loanDepot offers a fixed-rate home equity loan as well as a hybrid home equity line of credit (HELOC). Achieve Loans offers a fixed-rate HELOC.
loanDepot's current home equity process is entirely digital for most borrowers. You typically close using a remote online notary, although an in-person closing might be required in certain locations.
Achieve Loans sends a notary, who will visit the borrower at their home or work location to sign closing documents.
Both loanDepot and Achieve Loans offer a soft-credit check prequalification. Achieve Loans says its home equity line of credit process could go from application to funding in as fast as five days.
If a home equity loan is on your radar, comparing lenders side by side is a smart way to find the fit that works for you.
A loanDepot home equity loan and anAchieve Loans home equity line of credit (HELOC) are both tools you could use to borrow against the equity in your home without replacing your existing mortgage.
A home equity loan works by providing a one-time loan that you repay over a set term. A HELOC works differently: It's a revolving line of credit that lets you borrow, repay, and borrow again up to your credit limit during the draw period.
The differences between home equity offerings from loanDepot and Achieve Loans are most noticeable in the loan structure, application process, funding timeline, and servicing.
Achieve Loans HELOC
Achieve Loans has a true fixed-rate home equity line of credit. Unlike with hybrid products, the rate you get on your Achieve Loans HELOC never changes for the life of your loan.
You could get a credit line of up to $700,000, with the potential to borrow up to 90% of your home's value if eligible. Loan terms include 10, 15, 20 or 30 years, with a draw period of five years for any term length.
In addition to a streamlined, online application process, Achieve Loans also offers you the opportunity to work with a licensed Mortgage Advisor to choose the right loan for your needs. With Achieve Loans, you might be able to get a loan decision in minutes, and once approved funding could happen in as little as 5 days.
loanDepot home equity loan and HELOC
loanDepot offers both a home equity line of credit and a standard home equity loan, which they refer to as a HELoan. loanDepot's HELOC and the HELoan are labelled as equityFREEDOM products.
loanDepot home equity loan rates are fixed. For HELOCs, your rate depends on the specific product you get: a variable-rate HELOC or a hybrid HELOC. The variable-rate HELOC has a rate that changes with the WSJ Prime Rate. The hybrid HELOC has a rate that can vary with the market, but each draw gets a fixed rate set at the time of withdrawal.
You can borrow up to $750,000 with loanDepot, depending on the product, state, and your qualifications. Loan terms range from 10 to 30 years, and the HELOCs have a draw period from 3 to 5 years depending on your term.
Achieve Loans vs loanDepot: Credit and eligibility
loanDepot home equity loan requirements don't include a specific credit-score cutoff. Instead, loanDepot says its home equity loans are subject to credit and property approval, with other limitations depending on the property and state. The best way to find out if you might qualify is to get a quote, which loanDepot says uses a soft credit inquiry that won't hurt your credit score.
Achieve Loans is more transparent on its HELOC requirements, with terms that lay out a clear 600 minimum credit score requirement. You may also need a combined loan-to-value (CLTV) ratio of 75% to 90% depending on your qualifications. You can also prequalify with a soft credit check to get your estimated rate through Achieve Loans.
Achieve Loans vs loanDepot: Funding and repayment
Both Achieve Loans and loanDepot have very similar stats in this category. Each advertises that your funding could happen in as few as five days, though your actual timeline could vary. Another similarity is that HELOCs from both places require an initial 100% draw, which you can then pay down and reuse during your draw period.
Each HELOC also includes fully amortized payments from the start. This means you're always making progress on any principal balance with your monthly payments instead of just paying interest while your principal balance sits untouched.
Which lender is right for you?
Achieve Loans could be the right fit if you're searching for a true fixed-rate home equity line of credit with a rate that stays the same for the life of your loan. loanDepot might make sense if you want a one-time home equity loan instead of a line of credit.
Your borrowing amount, home equity, credit history, income, property, and other factors could affect the terms available to you with either lender.
When reading loanDepot home equity loan reviews or Achieve Loans home equity line of credit reviews, use them as background information. Then research current loan terms, fees, eligibility requirements, and disclosures when deciding between specific offers.
Prequalify through Achieve Loans
Prequalification for an Achieve Loans home equity line of credit uses a soft credit check, so you can get an initial estimate without affecting your credit score. A hard credit inquiry applies only if you move forward with a full application.
Find out if you're eligible and learn your potential rate. There’s no commitment required.
Author Information
Written by
Richard Barrington is a contributing writer for Bills.
Reviewed by
Kimberly is Achieve’s senior editor. She is a financial counselor accredited by the Association for Financial Counseling & Planning Education®, and a mortgage expert for The Motley Fool. She owns and manages a 350-writer content agency.
Frequently asked questions about loanDepot vs. Achieve Loans
loanDepot offers both a home equity loan and a HELOC. The home equity loan is a one-time lump-sum loan, while the HELOC is a revolving line of credit that you can borrow against, repay, and borrow from again during the draw period.
loanDepot says its equityFREEDOM products could provide funds in as few as five days, the same as advertised for an Achieve Loans fixed-rate HELOC. That said, your actual timing varies based on factors such as income verification, employment, property condition, and property valuation.
loanDepot operates its own loan-servicing platform but also transfers servicing functions on some loans it sells.
Related Articles
A home equity loan lets you borrow against your home's value at a fixed rate with predictable monthly payments. Find out how it works and if it's right for you.
A home equity loan lets you borrow a lump sum against your home's value at a fixed rate. Learn how rates, terms, and repayment options work before applying.
A fixed-rate HELOC provides stable interest that helps with predictable monthly payments. Learn how they work and whether one is right for you.
A home equity loan lets you borrow against your home's value at a fixed rate with predictable monthly payments. Find out how it works and if it's right for you.
A home equity loan lets you borrow a lump sum against your home's value at a fixed rate. Learn how rates, terms, and repayment options work before applying.
A fixed-rate HELOC provides stable interest that helps with predictable monthly payments. Learn how they work and whether one is right for you.