Follow us:

View Rates

  1. Home
  2. Mortgages



About Figure

With Figure, you can refinance to potentially lower your mortgage rate or cash in on your home equity. Personal loans and asset management services are also available in most states. The company also provides cap table management and digital fund services for institutions. It does not offer home loans for purchasing a property at this time.


  • Short closing time for HELOC
  • Quick approvals
  • Online application


  • Not all properties are eligible
  • Not available in all states

Bottom Line

Figure offers a streamlined HELOC approval process that lets you get funding in as few as five days1. Availability may be limited by geography and home type, but it could be a good fit if you prefer online lending services.

What is Figure?

Figure is an online lender that specializes in mortgage refinancing and home equity lines of credit. Unlike traditional HELOC lenders, Figure uses blockchain technology — the company states this helps improve financial transactions behind the scenes to make them more efficient and secure while lowering costs. Its application process requires minimal borrower input; the company collects W-2 forms, bank statements and pay stocks online. Because the application is online and it collects many important forms itself, it can approve HELOC applications within minutes.

Figure lending services

Figure works by providing mortgage refinance loans and home equity lines to individual and joint borrowers (mortgage refinancing only). Refinancing is exclusively for single-family homes and townhouses borrowers maintain as primary residences. It also offers its HELOC as a first or subordinate lien, meaning you can still get a HELOC even if your home is already paid off.

You can apply for more than one HELOC, but the total loan amount is limited to $250,000 per borrower and $250,000 per property. Figure offers the following financial products:

  • Home equity line: Up to $250,000 with the option to redraw up to 100%. Select from five-, 10-, 15- and 30-year fixed term options.
  • Cash-out refinance: Up to $500,000 with custom rates and payment options.
  • Jumbo refinance: Up to $2,000,000 (The maximum loan-to-value ratio is 80% for both rate and cash-out refinances).

Figure HELOC requirements

In most states, Figure requires a minimum credit score of 620 (720 in Oklahoma) to qualify for a home equity line of credit. Applicants also need a higher credit score of at least 680 for investment properties. Eligible applicants must also have a verifiable employment history.

Its application and processing are fully streamlined. This lets Figure approve home equity lines of credit within a few minutes and initiate funding in as few as five days1. In most areas, the company also provides video notary services.

For people with a credit score between 620 and 850, minimum lines of credit start at $15,000 in most states ($25,001 in Alaska). Depending on your credit score, the loan limits for terms over five, 10 and 30 years are as follows.

FICO scoreLoan limit
620 to 679$75,000
680 to 759$150,000*
*Customers may qualify for a higher loan limit if they have a maximum combined loan-to-value ratio of 80%.

Figure mortgage refinancing requirements

To refinance a conforming loan, Figure requires applicants to have a minimum FICO score of 620. A score of 620 is also required for jumbo loans. For a cash-out refinance or rate refinance, you can borrow up to 80% of your home’s value ($2,000,000 maximum).

You can fill out the quick application to see your estimated refinancing rates. If you decide to borrow from Figure, you’ll have to fill out a more comprehensive form that requires a credit check. You will likely also need a home appraisal.

The refinancing application takes longer to process than the HELOC application. Though the application process is entirely online, you will be required to attend an in-person closing. Other terms and conditions may apply.

How much is Figure?

As of publishing, APRs can be as low as 2.88%2 for home equity lines (includes autopay and credit union membership discounts, as well as payment of an origination fee in exchange for a reduced APR). However, your credit, combined loan-to-value ratio, loan term, occupancy status and other factors affect the actual rate you qualify for. You should fill out an online application for the most accurate rate estimates.

We like that Figure doesn’t charge maintenance fees or prepayment penalties for either mortgage product. Like most lenders, Figure charges origination fees and appraisal, title and settlement fees for mortgage refinance, which vary based on terms and location.

In some states, you can pay a higher origination fee in exchange for a lower APR for HELOC. Figure also offers discounts to reduce your APR rate. You can get a 0.25% rate reduction for enrolling in autopay and a 0.50% APR rate reduction for opting into a credit union membership.

Figure FAQ

Are Figure’s services available online only?
Figure’s applications are exclusively online. However, most states require in-person closing for mortgage refinancing. For HELOC closings, online video notary sessions are available in most locations.
Does Figure do mortgage refinancing in every state?
Figure offers both rate and cash-out refinancing in the following states: Alaska, Alabama, Arkansas, Arizona, California, Delaware, Florida, Georgia, Iowa, Idaho, Indiana, Kansas, Louisiana, Massachusetts, Michigan, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Dakota, Tennessee, Washington, Wisconsin and West Virginia.
Where does Figure offer home equity lines of credit?
Figure offers home equity lines in Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Iowa, Idaho, Indiana, Illinois, Kansas, Louisiana, Massachusetts, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Virginia, Vermont, Washington, Wisconsin, Wyoming and Washington, D.C.

Is Figure a good loan company?

We like that the fully online services allow for seamless loan approvals and closing times. Figure is a good loan company for homeowners with single-family homes or townhouses who want to refinance their mortgage or access a line of credit. It's not a good choice for those who own multifamily properties, investment properties, second homes or homes as part of an LLC or trust. If you need to reduce your mortgage rate or pull cash from your home, Figure might be a good fit.

Sort: Recent
Filter by: Any

Currently there are no customer reviews.

Select stars to rate your experience
Very dissatisfied with the experienceDissatisfied with the experienceSatisfied with the experienceHappy with the experienceWould recommend to a friend

A link has directed you to this review. Its location on this page may change next time you visit.

Loading more reviews...

Figure Home Equity Line is available in AK, AL, AR, AZ, CA, CO, CT, DC, FL, GA, IA, ID, IL, IN, KS, LA, MA, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SD, TN, VA, VT, WA, WI, WY with more states to come.

Figure Mortgage Refinance is available in AK, AL, AR, AZ, CA, DE, FL, GA, IA, ID, IN, KS, LA, MA, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, SD, TN, WA, WI, WV with more states to come.

Figure Lending LLC dba Figure. 15720 Brixham Hill Avenue, Suite 300, Charlotte, NC 28277. (888) 819-6388. NMLS ID 1717824. For licensing information go to Equal Housing Opportunity. Licensed in Alabama 22533, Alaska AK1717824, Arizona 0948458 and 1015091, Arkansas 114692, California: Loans are made and arranged pursuant to a Finance Lenders Law License, Licensed by the California Department of Financial Protection and Innovation under the California Finance Lenders Law (License 60DBO81967), Colorado 1717824, Connecticut ML-1717824, District of Columbia MLB1717824, Delaware 026994, Florida MLD1636, Georgia Residential Mortgage Licensee 61229, Idaho MBL-9625, Illinois MB.6761349, Indiana 39933, Iowa 88893478 and 2018-0048, Kansas MC.0025537 and SL.0026703, Louisiana 1717824, Maine 1717824, Massachusetts Mortgage Lender License ML1717824, Michigan FL0021494, Minnesota MN-MO-1717824, Mississippi 1717824, Missouri 19-2421, Montana 1717824, Nebraska 1717824, Nevada 4823, New Hampshire 22423-MB, Licensed by the N.J. Department of Banking and Insurance, New Mexico 1717824, North Carolina L-180811, North Dakota MB103310, Ohio RM.804317.000, Oklahoma ML011894, Oregon ML-5698, Pennsylvania 66882, Rhode Island 20183626LL, South Dakota ML.05202, Tennessee 151185, Virginia MC-6844, Vermont 7310, Washington CL-1717824, West Virginia ML-36248, Wisconsin 1717824BA, Wyoming 3217

1 For the Figure Home Equity line, approval may be granted in five minutes but is ultimately subject to verification of income and employment. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing.

2 For Figure Home Equity Line, APRs can be as low as 3.00% for the most qualified applicants and will be higher for other applicants, depending on credit profile and the state where the property is located. For example, for a borrower with a CLTV of 45% and a credit score of 800 who is eligible for and chooses to pay a 4.99% origination fee in exchange for a reduced APR, a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 3.00%. The total loan amount would be $52,495. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term, occupancy status, and whether you are eligible for and choose to pay an origination fee in exchange for a lower rate. Payment of origination fees in exchange for a reduced APR is not available in all states. In addition to paying the origination fee in exchange for a reduced rate, the advertised rates include a combined discount of 0.50% for opting into Credit Union Membership (0.25%) and enrolling in autopay (0.25%). APRs for home equity lines of credit do not include costs other than interest. Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone.

Figure Company Information

Company Name: