PenFed Home Equity Line of Credit vs. Bank of America HELOC
Side-by-side comparison · Updated 2026 · Independently reviewed
PenFed Home Equity Line of Credit
PenFed
4.3
Credit union HELOC with no closing costs, no annual fee, and competitive variable rates for members.
Full review →
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 →WealthSpott Verdict
PenFed Home Equity Line of Credit wins on more measurable categories — particularly on rate and cost. Bank of America HELOC may still be the right fit depending on your loan amount and term needs.
Feature
PenFed Home Equity
Bank of America
APR Range
8.00% – 18.00% Best
8.60% – 14.40%
Loan Amount
$25,000 – $500,000
$25,000 – $1,000,000 Best
Term Length
120–240 months
120–240 months
Origination Fee
No closing costs; no annual fee
No closing costs; no annual fee
Min Credit Score
660+ Best
680+
Funding Speed
2–4 weeks
2–4 weeks
PenFed Home Equity Line of Credit
Bank of America HELOC
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