Figure HELOC vs. Wells Fargo Loans
No More Wells Fargo Home Equity Loans? Try a Fast Figure HELOC Today
- Lock in a competitive, fixed rate1: Navigates to numbered disclaimer
- 5 minute approval with our 100% online application. Funding in as few as 5 days2: Navigates to numbered disclaimer
- Borrow from just $15k up to $750,0005: Navigates to numbered disclaimer. Redraw up to 100% as you repay1: Navigates to numbered disclaimer
- Get your rate as of July 15, 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. Wells Fargo Loans
Discover why Figure HELOC is a better choice for unlocking your home’s equity.
| Figure HELOC | Wells Fargo Refi | Wells Fargo Personal Loan | |
|---|---|---|---|
| Application Process | 5 minutes, 100% online application process | You'll need to speak with a mortgage consultant to complete the process* | Online application |
| Appraisal Requirement | No in-person appraisal for loans under $400K | Yes, typically requires a full appraisal* | No appraisal required |
| Mortgage Impact | Keep your existing first mortgage intact! | Replaces current mortgage with a larger one—restart the 15-/30-yr clock | No lien on home |
| Minimum Borrowing Requirement | Lines start at just $15,000 - Ideal for smaller projects, up to $750,0005: Navigates to numbered disclaimer | Must refinance entire mortgage; no small-dollar option | $3,000 - $100,000 limit** |
| Rate Type | Fixed Rates1: Navigates to numbered disclaimer - Available APRs range from 6.60% to 15.00%6: Navigates to numbered disclaimer | 15- or 30-yr mortgage, resets amortization schedule* | Fixed, but higher APR up to 23.99%** |
- * wellsfargo.com/mortgage/mortgage-refinance/
- ** wellsfargo.com/jump/personal-loans/paid-search/
Get cash up to 18× faster than a Wells Fargo cash-out refi—and potentially access 4× more funds than a Wells Fargo personal loan with a Figure HELOC.
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:
Figure is the future!
My wife and I tried to get a HELOC from Wells Fargo and a local independent mortgage broker, but due to very high-bar metrics for LOC approval; both lenders said no, but they would be happy to do a re-finance of our first-complete with over $5,000 of closing costs added to our principal. We found FIGURE! Their application process and closing was the fastest and smoothest we've ever experienced. Figure is the future! THANK YOU!
Written by customer— Dean L.
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.
Easy does it
I believe it took 7 or 8 days to have the funds in my bank account. Fees were compatible to other online lenders. The interest loan was a little less than Avian. I did apply with Discover because they have no fees. I gave up on the application because they ask for way to many docs and take 6 - 8 weeks to fund the loan. Plus Discover kept asking to resubmit paperwork. Figure ask for minimal paperwork. Once I'm done repaying this loan. I'll be seeking a big loan to help me build my beach house.
Written by customer— Ruben E.
3330 Excellent Reviews on trust pilot
Trustpilot reviews Opens in a new window.Don’t wait—unlock your equity in as few as 5 days2: Navigates to numbered disclaimer. Start your Figure HELOC application now!
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.