Bank of America HELOC vs. Upgrade Home Improvement Loan
Side-by-side comparison · Updated 2026 · Independently reviewed
Bank of America HELOC
Bank of America
4.1
No closing costs, no annual fee HELOC with Preferred Rewards discounts for existing BofA customers.
Full review →
Upgrade Home Improvement Loan
Upgrade
4.2
APR 8.49–35.99%. $1K–$50K. Accepts lower credit.
Full review →WealthSpott Verdict
Bank of America HELOC and Upgrade Home Improvement Loan are closely matched. The right choice depends on your credit profile, desired loan amount, and how quickly you need funding.
Feature
Bank of America
Upgrade Home Improvement
APR Range
8.60% – 14.40%
8.49% – 35.99% Best
Loan Amount
$25,000 – $1,000,000 Best
$1,000 – $50,000
Term Length
120–240 months
24–84 months
Origination Fee
No closing costs; no annual fee Best
1.85–9.99%
Min Credit Score
680+
560+ Best
Funding Speed
2–4 weeks
1 business day
Bank of America HELOC
Upgrade Home Improvement Loan
Pros
- Accepts lower credit scores
- Accepts lower credit scores
- Fast approval
- Fast approval
- Direct contractor payments
- Direct contractor payments
Cons
- Higher origination fee
- Higher origination fee
- APR can be high
- APR can be high
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