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Figure Reviews


bestfor-icon Prequalify Online In Minutes to Get Fast Rates

Written by Lauren Le-Hair

About Figure | Read More


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  • help@figure.com
  • (888) 819-6388
  • Headquarters: 15720 Brixham Hill Avenue, Suite 300, Charlotte, NC 28277
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Figure Mortgages Review

Headquartered in San Francisco, CA, Figure is dedicated to helping people leverage their home equity quickly – without ever needing to leave home. They offer competitive home equity lines of credit (HELOCs) loans throughout the USA and have, in fact, helped customers unlock over $4 billion in equity. Most HELOCs can take several months to finalize, but Figure can approve theirs within a couple of weeks – or less.

Figure Mortgages Highlight


Min Credit Score


Mortgage Amount

15-30 years

Repayment terms


Soft Credit Pull


Lender Type


Underwriting Fee


Other Fees


Origination Fee


Prepayment Fee

5 Days

Funding Time



Mortgage Refinance


Mortgage Amount

Home Equity


APR. Fixed Rate


Mortgage Amount

Pros & Cons

  • con-icon Low fixed rates
  • con-icon Secured online application and quick funding time
  • con-icon Excellent TrustPilot rating
  • con-icon An origination fee

Mortgage Type

  • Mortgage Refinance
  • Home Equity Line of Credit
  • Jumbo

Figure Mortgages Terms & Requirements

To qualify for either a HELOC or refinancing, you’ll need good credit history, no active or major delinquencies, and verifiable income. You’ll also need to own an eligible property – such as a single-family home, condo, or townhome – and use it as your primary residence. Your creditworthiness determines the interest rate, terms, and borrowing amount, as does the amount of home equity available.

Overall, Figure’s terms are competitive in the industry. There are very few fees, other than an origination fee for HELOCs.

How to Apply

The entire process is online, starting from the initial application to getting the appropriate notarization and signatures. To begin, go to Figure’s main page and click “Find my rate.” You’ll need to provide some basic information, such as:

  • Full name
  • Address
  • Social Security number
  • Citizenship status
  • Date of birth
  • Annual income (estimated)
  • Contact information (ex. email)
  • Property and occupancy type
  • Reason for borrowing
  • Proof of insurance (when refinancing)

Upon submitting the above information, Figure will perform a soft credit inquiry. This won’t affect your credit score but will let you see a rate offer.

If everything looks good, you can apply. This involves connecting a checking account to your application and letting Figure verify your income. You’ll also need to provide a government-issued ID (ex. state ID or driver’s license).

At this point, Figure will run a hard credit check. If approved, you’ll need to complete a video call with an e-notary. The e-notary will verify your identity and other information. You can review and sign the loan document online before they notarize it. If you reside in a region where remote notarization is not allowed, Figure will set you up with an in-person notary instead.

Qualification Requirements

  • Own single-family residence, planned urban development, condo, or townhome
  • Primary residences only (sole or joint)
  • Hazard insurance for all properties
  • Employed, self-employed, or retired (with verifiable income)
  • 700 credit score for Jumbo loans
  • 50% maximum DTI (or 43% for Jumbo loans)
  • 2+ years of solid credit history with no active or major delinquencies

Home Equity specific requirements:

  • Must be a homeowner
  • FICO min is 640 (720 for OK); 680 for investment investment properties
    • FICO Score of 640-850, minimum loan of $20,000
    • FICO Score of 640-679, maximum loan of $125,000
    • FICO Score of 680-699, maximum loan of $200,000
    • FICO Score of 700-739, maximum loan of $250,000
    • FICO Score of 740-759, maximum loan of $275,000
    • FICO Score of 760+, maximum loan of $400,000
  • Origination Fee ranging between 1.5% and 4.99% (where allowed)
  • CLTV eligibility: Max CLTV (combined-loan-to-value) is 85%
  • APR range: 7.45% – 16.15% (The advertised APR includes a combined 0.60% discount for opting into a credit union membership (0.35%) and enrolling in autopay (0.25%) as well as payment of higher origination fee in exchange for a reduced rate, which is not available to all applicants or in all states.)
  • Primary and secondary residences
  • Credit limits: $15,000 up to $400,000 (AK & WI: minimum loan amount is $25,001.00)
  • Cannot have more than 2 existing Mortgages/liens on the property
  • Debt-to-Income ratio must be less than 50%, and in many cases, under 43%.
  • Min 2 years credit file
  • No delinquencies on current mortgage in the last 6 months
  • No foreclosure in the past 5 years
  • No collections
  • No bankruptcy in 7 years
  • No undischarged bankruptcies

Additional requirements:

  • All applicants are subject to Verification of Employment (Figure does not lend to unemployed borrowers at this time)
  • Eligible properties: Figure offers loans on single family residences, townhouses, planned urban developments (PUDs), and most condos. The following properties are not eligible: co-ops, commercially zoned real estate, multifamily (2+) real estate, manufactured housing, earth or dome homes, timeshares, log homes, houseboats, or mixed use properties. The property may be the applicant’s primary or secondary residence.
  • Ineligible properties: Co-ops, commercially zoned real estate, multifamily (5+) real estate, manufactured housing, earth or dome homes, timeshares, log homes, houseboats, or mixed use properties.

Required Information

Figure has a prequalification process that doesn’t impact your credit. Everything is done online, from prequalification to the official application to signing and notarizing documents. You’ll need some standard information, such as:

  • Proof of identity (ex. SSN, photo ID, date of birth)
  • Contact information
  • Bank account information
  • Proof of income and/or employment
  • Proof of hazard insurance (for refinancing)
  • Credit check (soft inquiry with prequalification, hard inquiry with the official application)

If you have any questions during the process, you can contact a representative.

Application Steps & Time Frames

  • Begin with a simple prequalification process to get your rate offer. This takes a few minutes.
  • Funding may be available within 5 days, or within a few weeks.
  • The overall process is straightforward and can be done digitally.

State Availability

Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Washington, Wisconsin, Wyoming

Not Available - Hawaii, New York, Utah, Virginia, West Virginia

Written by Lauren Le-Hair linkedin-icon

As an experienced content writer, Lauren's passion for the finance sector is only exceeded by her love of writing. With years of experience writing for financial websites, she has honed her expertise and developed a deep understanding of the industry. Lauren specializes in delivering top-quality, specialized content with an expert tone of voice and a unique flair, leveraging her extensive knowledge and expertise. In addition, she holds a First Class Bachelor's degree from Staffordshire University.



Does my credit score need to be good to get a Figure personal loan?

Yes, your credit score must be 680 or higher, with a debt-to-income ratio lower than 40%.

How long does it take to receive money if I am approved for a figure personal loan?

In most cases, money will be in your account within 1-2 business days after loan approval.

What can I do with a home equity line of credit?

Home equity line of credit can be used for purposes such as debt consolidation, home improvement or major purchases.

Customer Support

With ample customer support options, prospective borrowers can quickly get in touch with a representative from Figure via phone, email, and even live chat. The latter is particularly helpful if you have any urgent questions or need help navigating the loan process. Similarly, when reaching out to Figure’s customer support services through live chat, the agents were quick to respond, friendly, and helpful.

Moreover, Figure offers visitors a robust blog page under its “Education” tab, which boasts a wealth of articles on various topics, like home improvement, renovation ideas, and borrowing.

Privacy & Security

The company may use any personal data and information you provide for business-related services and communications, as well as to market and promote products to you. Figure may also share this data with affiliate third parties without notifying you first. Yet, Figure will never sell your private data.

Furthermore, the online lending company utilizes industry-standard user information and data security precautions, all of which comply with federal law.

In Conclusion

Ultimately, if you have a good enough credit score to qualify for a personal loan from Figure, you will find a simple process to follow to obtain a loan with reasonable APR rates. There are no restrictions on what you can use the loan for. You’ll also find a discount in place for making monthly payments via autopay.

Brand Disclaimer

Figure Disclaimer: 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 www.nmlsconsumeraccess.org. Equal Opportunity Lender. Equal Housing Opportunity. This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

As representative example, an eligible borrower obtained a loan amount of $15,000 with a 5% origination fee at an interest rate of 9.65% for 36 months. That would include an origination fee of $750.00 for an APR of 13.204%. They would receive $14,250.00 and make 36 monthly payments of $481.55. Loan amounts range from $5,000 to $50,000; loan term lengths are 36 months or 60 months.

California loans are made and arranged according to a Finance Lenders Law License. Licensed by the Department of Financial Protection and Innovation under the California Finance Lenders Law (License 60DBO81967). To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. Yet, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Figure’s Personal Loan APRs range from 5.75% to 31.44%, inclusive of a 0.25% discount for enrolling in autopay. The lowest APRs are for the most qualified applicants based on factors such as credit score, debt-to-income ratio, credit utilization, and credit inquiries; rates will be higher for other applicants. The advertised APR is only available for applicants who are eligible for and select 3-year loan terms; longer terms have higher rates. Rates frequently change, so your exact rate will depend on the date you apply.

You will be responsible for an origination fee of up to 5.00% of your loan amount, depending on your credit profile and the state where you reside. Loan terms and prices are also subject to change. Figure’s Personal Loan amounts range from a minimum of $5,000 to a maximum of $50,000. You may not be eligible for our maximum amount, as the minimum and maximum loan amounts vary depending on the state in which you reside and your credit profile.

Figure’s Personal Loan Referral Program is unavailable for borrowers or applicants in Kentucky, Ohio, or Rhode Island and does not apply to any of Figure’s other loan products. For either party to be eligible to receive the $150 gift card, they must fund the referred loan. Once complete, it may take up to 5 business days to fulfill the gift card orders, which will be delivered electronically to the email addresses associated with each account.

Next Day Funding requires the application to be approved and documents signed before 4 p.m. PST or 7 p.m. EST. Please check with your institution to ensure funds availability before attempting to access the funds. Limit one $100 bonus per customer. The bonus will be deposited in the Figure Pay account within 30 days of the second consecutive deposit, satisfying the requirements for the bonus.

HELOC:* Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your property is in at least average condition with a property condition report. 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.

*Available APRs range from 7.45% – 16.15%*, 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 advertised APR includes a combined 0.60% discount for opting into a credit union membership (0.35%) and enrolling in autopay (0.25%) as well as payment of higher origination fee in exchange for a reduced 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 five year loan terms; APRs will be higher for other applicants and those who select longer loan terms. As representative example, for a borrower with a 60% CLTV and a 740 credit score who is eligible for and chooses to pay a 4.99% origination fee in exchange for a reduced APR on a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 9.85%. The total loan amount would be $54,925. Alternatively, a borrower with the same credit profile who pays a 3.99% origination fee would have an APR of 10.15% and a total loan amount of $55,075. 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 a higher origination fee in exchange for a lower rate. Rates change frequently so your exact APR will depend on the date you apply. APRs for home equity lines of credit do not include costs other than interest. You will be responsible for an origination fee of up to 4.99% of your initial draw, depending on the state in which your property is located and your credit profile. You may also be responsible for paying the costs of valuation if an AVM is not available for your property ($180), manual notarization if your county doesn’t permit eNotary ($380), and recording fees ($0 – $315) and recording taxes, which vary by state and county ($0-$1,400 per one hundred thousand dollars borrowed). 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.