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Home Equity Line

All digital home equity line of credit
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Quickly refinance your home loan
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Easily refinance and get the cash you need

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San Francisco, CA 94108

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Reno, NV 89501

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Education About Figure Newsroom Contact Us Careers FAQs Site Map

Products

Home Equity Line Mortgage Refinance Cash-Out Refinance Loan Marketplace

Legal

Terms of Use Licenses Privacy Policy HELOC Servicing
Fee Schedule

These articles and resources are not intended to be financial advice. They are for educational purposes only, and financial decisions should be based on specific financial needs, goals and risk appetite.

Figure Lending LLC | NMLS #1717824 - NMLSCONSUMERACCESS.ORG

Figure Home Equity Line is available in with more states to come.

Figure Mortgage Refinance is available in with more states to come.

lending icon 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.

1 The Figure Home Equity Line is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.

2 Our APRs start at 3.49% for the most qualified applicants and are higher for other applicants. For example, for a borrower with a CLTV of 45% and a credit score of 800, a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 3.49% and a 4.99% origination fee. Your total loan amount would be $52,495. 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. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term and occupancy status. The advertised rate of 3.49% includes a combined discount of 0.75% for opting into a Quorum Membership (0.50%) and enrolling in autopay (0.25%). APRs start at 4.24% for customers that do not opt in to autopay or apply to become a Quorum member. 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.

3 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.

4 Refinancing at a longer repayment term may lower your monthly loan payments, but may also increase the total interest paid over the life of the loan. Depending on your cashout amount, your monthly payments may increase, even with a lower APR.

5 To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, 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.

*You should consult a tax advisor regarding the deductibility of interest and charges to your Figure Home Equity Line.

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