Figure Home Equity Line (HELOC; fixed-rate and variable-rate versions, 100% initial draw)
What Figure publishes: "Available initial APRs range from 6.95% to 14.40%, which includes the payment of a higher origination fee in exchange for a reduced interest rate, which is not available to all applicants or in all states. The lowest APRs are only available to the most qualified applicants, depending on credit profile and the state where the property is located, and those who also select ten year loan terms; APRs will be higher for other applicants and those who select longer loan terms."
Page renders 'Today's lowest HELOC rate: 6.95% APR' from build constants HELOC_MIN_RATE=6.95 / HELOC_MAX_RATE=14.40 embedded in the page today. Lowest APR requires top credit, a 10-year term, and paying a higher origination fee (rate buy-down). Discounts: 0.25% APR for Autopay; Credit Union Discount 0.15% APR (FAQ). Fixed Rate HELOC: initial draw fixed; additional draws priced at WSJ Prime + fixed margin at time of draw. Variable Rate HELOC: WSJ Prime + margin, adjusts monthly, subject to Rate Cap and Rate Floor (cap value not stated).
The rate you are offered is set by Figure after you apply on its site. It depends on your credit history, income, loan amount and term, and may be higher than the lowest rate shown here.
| Loan amount | $15,000 to $750,000 |
| Term | 60 to 360 months |
| Rate type | both |
| Funding speed | as stated: 'Get approved in 5 minutes, funding in as few as 5 days' (loans of $400k or less, remote online notary) |
| Origination fee | 0%-4.99% of initial draw ('The fee ranges from 0-4.99% of your initial draw, depending on your credit profile and the state where the property is located') |
| Prepayment penalty | No |
| Late fee | Not stated |
| Minimum credit score | 640 |
| States | Not stated |
| Membership | Not required |
"The minimum required credit score is 640 in most states, 680 for investment properties"
- Origination fee 0%-4.99% of initial draw ('The fee ranges from 0-4.99% of your initial draw, depending on your credit profile and the state where the property is located')
- Funding: as stated: 'Get approved in 5 minutes, funding in as few as 5 days' (loans of $400k or less, remote online notary)
- Borrow up to $750,000
- No prepayment penalty
| Legal name | Figure Lending LLC dba Figure (NMLS ID 1717824) |
| Type | Fintech |
| Website | https://www.figure.com |
Third-party lenders
Loan offers are provided by third-party lenders. Banrox is a technology company and is not a lender. Banrox does not take loan applications, make credit decisions or fund loans.
Compensation
Banrox may receive compensation from some lenders when you click or apply through links on this page. Compensation does not affect the rates shown, which are taken from each lender's public website as of the date displayed.
Rates and estimates
Rates, amounts, terms and fees are shown as published on the lender's website on the date marked above and may change without notice. The payment estimate uses the lowest APR the lender publishes and excludes origination and other fees; the lender's own disclosure governs. Nothing on this page is an offer, a rate quote or a commitment to lend.
