Editorial confidence (30%), cost (25%), value (25%), accessibility (20%) — scored consistently across every product, independent of compensation.
At a glance
Fixed APR: From ~7.99% (Variable by credit profile and LTV; verify at discover.com — rates change)
Loan amounts: $35K–$300K (Per Discover disclosure — subject to equity and credit approval)
Fees: No origination / appraisal / application fees (Per Discover Home Loans disclosure at discover.com — verify current terms)
Max CLTV: Up to 90% (Per Discover disclosure; may vary by state — verify at discover.com)
Who Discover Home Loans — Home Equity Loan is best for
Homeowners who want to avoid upfront and closing fees on a fixed-rate home equity loan.
Pros
No origination, appraisal, or application fees per Discover disclosure
Up to 90% CLTV on qualifying applications
Fixed-rate with predictable monthly payments
Backed by Discover Bank — established FDIC-member institution
Soft pull pre-qualification available
Cons
Loan amount cap ($300K) limits access for high-value properties with large equity needs
Minimum loan amount ($35K) may be too large for smaller needs
No in-person branches — online-only servicing
Discover Home Loans — Home Equity Loan requirements
Credit score: 680+ FICO typical for approval at competitive rates
Max CLTV: Up to 90% combined loan-to-value per Discover disclosure
Property type: Primary residence in most U.S. states
Primary residence in most US states
680+ FICO typical for approval at competitive rates
Maximum CLTV ~90% on qualifying applications
Discover Home Loans — Home Equity Loan rates & fees
Discover Home Loans' fixed APR starts from approximately 7.99%, varying by credit profile and LTV per Discover disclosure. Loan amounts range from $35,000 to $300,000 with up to 90% CLTV. No origination, appraisal, or application fees apply per Discover disclosure — verify the complete fee schedule at discover.com.
Discover Home Loans — Home Equity Loan alternatives
Discover Home Loans — Home Equity Loan — No origination, appraisal, or application fees on home equity loans. Best for: Homeowners who want to avoid upfront and closing fees on a fixed-rate home equity loan.. Compare it against alternatives before applying; the right fit depends on your situation, credit, and goals.
Questions about Discover Home Loans — Home Equity Loan
What does 'no fees' mean on a Discover home equity loan — are there any closing costs?
Discover discloses no origination fee, no application fee, and no appraisal fee on its home equity loans. In some states or situations, third-party closing costs (title, recording fees) may still apply — Discover's disclosure specifies when these apply. Verify the complete fee disclosure at discover.com before applying. Source: Discover Home Loans product disclosures at discover.com.
Is ClearValue Lending affiliated with Discover Bank?
No. This is an independent editorial review. ClearValue Lending is not affiliated with Discover Bank. All loan terms, fees, and eligibility are determined by Discover. Verify current APRs, terms, and fees at discover.com before applying.
How we rate
Every pick gets a 1–5 ClearValue Rating computed from four weighted factors: Editorial confidence (30%), Cost (25%), Value (25%), and Accessibility (20%).
Scored consistently across every product and independent of any compensation. Full methodology →
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