Figure's crypto-backed loan allows you to put up crypto as collateral to access cash, while continuing to HODL. You can borrow up to 75% of the value of your crypto at a fixed interest rates of 8.91% (9.999% APR) at 50%^{2: Navigates to numbered disclaimer}. Your rate will be determined by your collateral and LTV. Your collateral is held in decentralized MPC custody and will never be rehypothecated. You can make monthly interest-only payments over the course of your loan term, or opt to defer interest for a fee.^{1: Navigates to numbered disclaimer} Your remaining balance and any deferred interest is due in full at maturity. Once your loan is paid, any excess collateral and/or fiat will be returned to you.

Many customers use their liquidity for large purchases like a house, car, or vacation, while others may invest in mining equipment or additional crypto assets. Figure does not provide financial advice and we recommend you contact your financial advisor about how the proceeds can be best used.

Figure's Crypto-Backed Loan is available to residents of every state except Idaho, Illinois, Kentucky, Maryland, Mississippi, South Dakota, Texas, Vermont, Virginia, and the District of Columbia, and we are working to expand to these locations. It is available internationally through our partner, Figure Markets Credit LLC  Opens in a new window., with the exception of certain jurisdictions.

We allow an initial loan-to-value ratio (LTV) of up to 75%. You may choose to deposit more collateral initially to lower your initial LTV, borrow at a lower interest rate, and reduce the chance of being margin called over the life of your loan.

Margin calls are notices to restore your loan's initial LTV when the value of your crypto collateral falls and is no longer sufficient to secure your loan. Based on the severity of the LTV increase, you will need to cure your loan in the required amount of time or your crypto will be liquidated with a 2% fee charged. You can restore your initial LTV by adding collateral or making a payment on your loan.

When you repay your loan, your unliquidated crypto collateral will be returned to you, along with any excess fiat remaining. This crypto will be returned to a wallet address you specify. If you pay off your loan via ACH, we will hold your crypto back 3 weeks to ensure the payment is processed. If you pay your balance using a wire transfer, you will receive your crypto collateral back within 3 days.