Why Figure’s HELOC is a better choice than Bank of America’s HELOC:
- Enjoy a seamless, paperless application process.
- Apply for your fast HELOC without an in-person appraisal.
- Get rapid funding and forget the long bank timelines.* With Figure, you can apply in 5 minutes with funding in as few as 5 days.2navigates to bottom disclaimernavigates to bottom disclaimer
- Make the most of your property's value by tapping into your home equity for up to $400,000.5navigates to numbered disclaimer
- Say goodbye to unpredictable payments and lock in a competitive, fixed rate.1navigates to numbered disclaimer
Checking your rate won't impact your credit3navigates to numbered disclaimer
*experian.com/blogs/ask-experian/how-long-to-get-heloc
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The fastest bank loan alternative
Bank of America offers a traditional HELOC with variable interest rates while Figure's HELOC stands out for its fixed interest rate1navigates to numbered disclaimer, quick approvals, and fast funding timeline. Compare Figure and Bank of America HELOCs side-by-side to help you make an informed decision about tapping into your home's equity.
| Figure HELOC | Bank of America HELOC*navigates to table disclaimer | |
|---|---|---|
| Rate | Fixed Rates1navigates to numbered disclaimer | Variable Rates |
| Timelines | Approval in 5 minutes, funding in 5 days2navigates to numbered disclaimer | 5-7 weeks |
| Application Process | 100% online application | Online, but in person closing required |
| Discounts | Autopay and Credit Union discounts available for everyone | Available only to Preferred Rewards Members |
Figure’s HELOC is faster than a bank loan, cheaper than a personal loan4navigates to numbered disclaimer
Complete an application in as little as 5 minutes with a 100% online application, and you could have funding initiated in as few as 5 days.2navigates to numbered disclaimer
- Fixed rates1navigates to numbered disclaimer
- Borrow up to $400k5navigates to numbered disclaimer
- Redraw up to 100%
- Longer loan terms available
- Use your home’s equity without giving up your low mortgage rate
- No in-person appraisal needed
What can I use a home equity line of credit for?
A HELOC can be used for many different purposes such as:
Convenient loan, no hassle.
Convenient loan, no hassle. Needed money for tuition, bills, etc and in 5 days I got the money. Thank you so much. You are a big help financially to my problem.
Written by customer— Flordeliza M.
Simplified my finances in less than a week...
With the application 100% on line I was a little nervous, but I am now a believer in Figure. I've just spent the last 30 minutes paying off my high interest credit cards with the home equity line that I secured with Figure in a little less than a week.
Written by customer— Joanne
Enormously helpful throughout the process
I recently took a loan through Figure. They were enormously helpful throughout the process. Being a senior citizen businessman I appreciated their making my time count. I plan on using them again if possible to fund my future business needs.
Written by customer— Joe M.
3155 Excellent Reviews on trust pilot
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