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.2: Navigates to bottom disclaimer: Navigates to bottom disclaimer
- Make the most of your property's value by tapping into your home equity for up to $400,000.5: Navigates to numbered disclaimer
- Say goodbye to unpredictable payments and lock in a competitive, fixed rate.1: Navigates to numbered disclaimer
Checking your rate won't impact your credit3: Navigates 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 rate1: Navigates 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 Rates1: Navigates to numbered disclaimer | Variable Rates |
| Timelines | Approval in 5 minutes, funding in 5 days2: Navigates 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 loan4: Navigates 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.2: Navigates to numbered disclaimer
- Fixed rates1: Navigates to numbered disclaimer
- Borrow up to $400k5: Navigates 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.
3236 Excellent Reviews on trust pilot
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