Figure HELOC Beats Navy Federal
Skip the 30-Day wait—Get a fixed-rate1: Navigates to numbered disclaimer HELOC in as few as 5 days!2: Navigates to numbered disclaimer
- Lock in a competitive, fixed rate1: Navigates to numbered disclaimer and say goodbye to unpredictable payments!
- 5 minute approval with our 100% online application. Funding in as few as 5 days2: Navigates to numbered disclaimer
- Borrow from just $15k (perfect for smaller projects) up to $750,0005: Navigates to numbered disclaimer. Redraw up to 100% as you repay
- Enjoy a seamless, paperless application process. Get your rate as of July 1, 2025. Checking your rate won’t impact your credit!3: Navigates to numbered disclaimer
The #1 non-bank home equity line
of credit in the U.S.*
Featured in
Compare a Figure HELOC vs. Navy Federal HELOC
Discover why Figure HELOC is a better choice for unlocking your home’s equity
| Figure HELOC | Navy Federal HELOC | |
|---|---|---|
| Who Can Apply? | Any qualified U.S. homeowner | Limited to current or former members of the armed forces, Department of Defense, or National Guard and their families* |
| Application Process | 5 minute, 100% online application process | Online start, but traditional processing & paperwork** |
| Rate Type | Fixed (predictable payments) | Variable |
| Appraisal Requirement | No in-person appraisal for loans under $400K | Yes, full appraisal often required** |
| Fund Disbursement | Funding in as few as 5 days2: Navigates to numbered disclaimer. Direct deposit to the account of your choice! | 30-40 days to close on average** |
| Bank Relationship Needed? | No required bank relationship—have funds deposited to any account you choose! | Yes, Navy Federal savings or checking account needed** |
- * nerdwallet.com/reviews/mortgages/navy-federal-credit-union-heloc-review
- ** navyfederal.org/loans-cards/equity/resources/how-to-apply.html
Get your cash in as few as 5 days2: Navigates to numbered disclaimer—up to 6x faster than Navy Federal.
Unlock Your Equity Online in Just 1-2-3 with a Figure HELOC
- 1
Complete our 100% online
applicationNo in-person appraisal needed for loans under $400K. Prequalification won’t affect your credit score3: Navigates to numbered disclaimer. You’ll
instantly see your HELOC options. - 2
Get approved in 5 minutes,
funding in as few as 5 days2: Navigates to numbered disclaimerBorrow from $15,000 to $750,0005: Navigates to numbered disclaimer with one-time
origination fee.6: Navigates to numbered disclaimer Easy online notary services in most locations
with expert support. - 3
Option to redraw up to 100%1: Navigates to numbered disclaimer
Take advantage of the option to take additional draws
as needed.
See Why Customers Across the U.S. Chose Figure:
We were looking into HELOC options even…
We were looking into HELOC options even with Navy Fed, its was a hassle. Figure from start to finish took about 9 days and they made it super easy. I do recommend. We paid off higher interest debt and lowered our DTI.
Written by customer— Jacob
Super easy and fast way to get a HELOC
Super easy and fast. Documents were generated quickly; online notary made signing a breeze. Even confirming salary via a link to my bank made things so much easier.
Written by customer— Kellie M.
My bank was not helpful...
My bank was not helpful. Figure honestly looked at my equity in my home and accepted my terms. It was amazing to me that I did not speak to a human being. Thank you.
Written by customer— Thomas P.
3285 Excellent Reviews on trust pilot
Trustpilot reviews Opens in a new window.Frequently asked questions
A home equity line of credit, or HELOC, is a revolving line of credit. Instead of receiving a one-time loan amount as you do with a traditional loan, a HELOC gives you a borrowing limit (or credit limit). As you repay the balance, you can withdraw money from the credit line as you would with a credit card when you need it.
There are lenders that offer both variable rate and fixed interest rate home equity lines of credit. Figure’s HELOC is a fixed-rate1: Navigates to numbered disclaimer line of credit. A fixed-interest rate HELOC can provide payment predictability and peace of mind for borrowers.
To qualify for a HELOC, you must have sufficient equity in your home, meaning the amount you owe must be less than the home's current value. Lenders typically allow borrowing up to 85% of the home's value minus what you owe. Besides equity, lenders consider factors like credit score, credit history, employment, income, debt payments, and debt-to-income ratio to determine approval, credit line amount, and interest rate. The qualification process is similar to applying for a mortgage, so it's important to research and ensure you meet specific lender requirements before applying.
You may be able to deduct interest paid on a home equity product if the loan is used for home improvement. You should consult a tax advisor regarding the deductibility of interest and charges.
Most applicants can complete the application in 5 minutes and you'll receive the results of your prequalification request immediately. However, final approval is subject to verification of income and employment, as well as the condition of the property.
A home equity loan provides a lump sum with fixed payments and interest, usually over 5 to 20 years, and is often used for major home repairs or debt consolidation. In contrast, a traditional HELOC offers a flexible credit line for ongoing expenses, allowing you to borrow as needed over a set period. Figure's HELOC gives you the full amount upfront with a fixed interest rate, but like a traditional HELOC, you can borrow again once part of the principal is repaid.