Before You Apply

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Figure offers loans on single family residences, condos, and townhouses. The following properties are not eligible: co-ops, commercially zoned real estate, planned urban developments (PUDs), multifamily (5+) real estate, manufactured housing, earth or dome homes, timeshares, log homes, houseboats, or mixed use properties.

The property may be the applicant's primary or secondary residence

Figure lends to individuals whose subject properties are held solely or jointly with others, or by revocable trusts. In order to obtain a loan from Figure, your name must appear in the county records as the owner of the property.

The property may be the applicant's primary or secondary residence. The minimum required credit score is 680 for investment properties.

Figure requires hazard insurance for all properties and flood insurance for properties located in flood zone A or V. You may be required to provide proof of insurance after your loan is closed.

Home equity line of credit can be used for purposes such as debt consolidation, home improvement or major purchases.

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.

Yes, Figure offers both first and subordinate liens.

For a copy of our Privacy Policy, please visit https://figure.com/privacy/.

Keeping your data safe and private is our top priority. We use a range of security and encryption techniques to keep your data secure. For more details on our Privacy Policy, please visit https://figure.com/privacy/.

Figure provides you a magic link via email to access your account. To log in to your dashboard, enter your email address when prompted at www.figure.com. You’ll receive an email with a link to authenticate. Once authenticated, return to the browser or application you logged in from to access your account.

Checking your pre-qualified offers from Figure won’t impact your credit score. It generates what is called a soft inquiry. You may see a soft inquiry on your credit report, but it’s only visible to you, not to other creditors or users of your credit report. However, submitting your application will result in a hard inquiry and may affect your credit score.

Most applicants can complete the application in 5 minutes and will receive approval immediately.

All applicants are subject to verification of employment and we do not lend to unemployed borrowers.

We offer discounts of up to 0.75% APR rate reduction. We give a discount of 0.25% to customers that opt in to Autopay. Autopay allows your monthly payment to be automatically deducted from your payment account. Another way to get a discount is to opt-in for a Quorum membership which will give you a 0.50% APR rate reduction. Members will receive a new agreement in the document signing stage for opting in. Applicants can get up to a 0.75% reduction for opting in to both.

Figure partners with Quorum Federal Credit Union  Opens a new window., Valley Strong Credit Union  Opens a new window., and Teachers Federal Credit Union  Opens a new window. to offer you Figure’s lowest rates. You’ll receive a 0.50% APR discount on your loan if you consent to becoming a member. This means the Partner Credit Union may open a basic savings account in your name, pre-loaded with the account minimum, to establish your membership - at no cost to you. Read the Terms  Opens a new window..

After you agree to become a member at Quorum Federal Credit Union  Opens a new window., Valley Strong Credit Union  Opens a new window., and Teachers Federal Credit Union  Opens a new window., you will receive a welcome letter with the terms and conditions of your savings account along with Truth-In-Savings and other disclosures. This will include information about ending your membership. There is no cost to maintain membership, as your savings account will be funded with the minimum value required.

You can log in to your Figure account directly from the “Log in” option on the top right of the Figure website, or through our mobile app. Primary applicants will log in using their email address, and additional signers will use the “Have an access code” feature from the same log in page. Once you log in you will be able to find details on your application and/or loan, including your documents, statements, and tax forms.

Payments and due dates vary depending on when your loan closed. You can find your next payment due date and amount by logging into your Figure account or refer to your periodic statement. If you have additional questions, please contact us at loans@figure.com  Opens a new window. or 1-888-819-6388  Opens a new window. (Not for use by New York borrowers).

Figure only accepts Automatic Clearing House (ACH) payments. Customers can submit one-time payments or participate in Autopay. You can manage your payments by logging in to your Figure account on our website or through our mobile app.

Your dashboard has all of your billing documents. Simply log in to your account to see your dashboard.

You can log in to your Figure account on our website or through our mobile app to update your account information and set up the new account for Autopay.

Figure or one of our approved sub-servicers will service your loan. For servicing related questions, please contact us at loans@figure.com  Opens a new window. or 1-888-819-6388  Opens a new window. (Not for use by New York borrowers).

Click here to view Figure's Servicing Fee Schedule  Opens a new window..

For payment-related questions, please contact us at loans@figure.com  Opens a new window. or 1-888-819-6388   Opens a new window.(Not for use by New York borrowers).

To change your account information, please contact us at loans@figure.com  Opens a new window. or 1-888-819-6388   Opens a new window.(Not for use by New York borrowers).

If you are signed up for Autopay, your payment will show up on your account on the payment due date after 10 AM PT. If you made a one-time payment on a business day before 9PM PT through your Figure account, you should see the payment immediately. If your one-time payment was made after 9PM PT or on a holiday then you should see your payment at 10AM PT on the next business day. For payment-related questions, please contact us at loans@figure.com  Opens a new window. or 1-888-819-6388   Opens a new window.(Not for use by New York borrowers).

Application

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Figure uses an Automated Valuation Model (AVM) to assess the value of your property. This model takes into account metrics such as recent sales of similar properties, public data records, and historical price trends in the housing market to reach an assessment of your property’s worth.

Yes. However, the aggregate amount of the loans is subject to a limit of $250,000 per borrower and $250,000 per property depending on your credit score. (The minimum required credit score is 620 in most states, and 720 in Oklahoma.) Please contact us at 888-819-6388  Opens a new window. if you have any questions regarding required CLTV or property criteria.

Equity is calculated by subtracting the total outstanding debts secured by your home from its current market value.

At the time of funding, your initial draw will be equal to your credit limit, minus the origination fee. As you repay the initial draw, you can make additional draws up to 100% of your total loan amount, or credit limit. Additional draws must be at least $500 and may be up to 100% of the total loan amount or the available capacity on your line.

If you received a loan from us before September 21, 2020, your additional draw limit will likely be less than the full 100%. Please review the terms of your HELOC Agreement signed at the time of closing for the exact amount of your additional draw limit.

The term for additional draws will be from the date of the additional draw to the end of your original term.

Payments are applied in the following order

To the outstanding Periodic Finance Charge; To any amount that is in excess of your Credit Limit; To any charges you incur, other than a Draw or FINANCE CHARGE; and To the principal balance of each Draw and the origination fee.

An origination fee is the cost for us to provide you with a loan. Some members may qualify for an option at a 3% or 4.99% origination fee of the initial draw amount based on their credit profile and the state where their property is located. In the case you are eligible for one or more of the origination fee options, you may be able to reduce your fixed APR and monthly payment offers. The origination fee is amortized (included) in the loan payment schedule. Depending on your credit score and state where you live, you may or may not be eligible to choose your origination fee. If you live in a state with a capped origination fee, you will receive the 3% option and/or applicable origination fee for your location.

Our Figure eNotary will connect with you via an audio enabled video session. The eNotary will confirm your identity via the ID you provided during the application process and ask you a set of knowledge based authentication questions. Once you have authenticated, you will be able to review your mortgage document and electronically sign the document during the session. Once you sign, the eNotary will electronically notarize your document.

We designed a simple and efficient process for you to complete our eNotary session. The entire session can be completed in minutes.

Our eNotaries are available Monday-Saturday from 6am - 6pm Pacific Time. If you apply after hours, you can resume your session during business hours.

Autopay allows your monthly payment to be automatically deducted from your payment account. We give a discount of 0.25% to customers that opt in to Autopay.

We use connected accounts to verify your income and set up your loan for disbursement. At minimum, you need to connect at least one checking account. If you opt in to Autopay, the same account will be used for your monthly payment.

You should connect all accounts in which you receive or maintain your income. Once you connect your first account, you will be given the option to add additional institutions.

Connecting an account may take up to a minute. We will alert you once it is complete.

Figure accepts Retirement, 401k, IRA, Roth, Savings, Brokerage, Money Market and CD accounts.

We analyze inflow in your connected accounts to verify your stated income. We can perform this analysis through connected bank accounts, qualified asset accounts, tax returns and/or paystubs. All sources must be connected during the application process.

An additional signer is anyone, such as a spouse in certain states, additional person on title, or additional trustee, whose signature is required on the mortgage or deed of trust.

Figure only allows one owner to apply and sign for the loan; however, additional owners on title will be required to sign the mortgage document.

Most applicants can complete the application in 5 minutes. Once the full loan process is complete, the loan is typically funded within 5 days.

All steps in our loan process must be completed in 14 days. Otherwise, you will be required to restart your application.

Rate and Cost

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For most states, Figure offers lines of credit starting at $15,000 up to $250,000. If your property is located in Alaska and Wisconsin, the minimum loan amount is $25,001.00. (The minimum required credit score is 620 in most states, and 720 in Oklahoma.) Please contact us at 888-819-6388  Opens a new window. if you have any questions regarding required CLTV or property criteria.

For 5,10, and 30 Year Terms, the Loan Limits are as follows:

  • FICO Score of 620-850, minimum loan of $15,000
  • FICO Score of 620-679, maximum loan of $75,000
  • FICO Score of 680-759, maximum loan of $150,000
  • FICO Score of 760+, maximum loan of $250,000
  • 70% CLTV cap for Non-Owner-Occupied Property, and FICO Score of 680-850
  • 70% CLTV cap for Owner-Occupied Property, Figure Third Lien Position, and FICO Score of 620-850
  • 75% CLTV cap for Owner-Occupied Property, Figure First and Second Lien Position, and FICO Score of 620-659
  • 85% CLTV cap for Owner-Occupied Property, Figure First and Second Lien Position, and FICO Score of 660-699
  • 90% CLTV cap for Owner-Occupied Property, Figure First and SEcond Lien Position, and FICO Score of 700-759
  • 95% CLTV cap for Owner-Occupied Property, Figure First and Second Lien Position, and FICO Score of 760-850

Figure offers loan terms of 5, 10, 15 and 30 years.

Figure offers fixed rate  navigates to the related disclosure loans. In other words, the rate that applies to each draw is fixed at the time of the draw and won’t change over time.

Unlike other lenders, Figure doesn’t charge account opening fees, maintenance fees, or prepayment penalties. Figure only charges an origination fee, which is the cost for us to provide you with a loan. Some members may qualify for an option at a 3% or 4.99% origination fee of the initial draw amount based on their credit profile and the state where the property is located. In the case you are eligible for one or more of the origination fee options, you may be able to reduce your fixed APR and monthly payment offers. The origination fee is amortized (included) in the loan payment schedule. You may also be responsible for paying recording fees depending on the county where you live, as well as a subordination fee if you ever ask Figure to change its lien position.

Yes, you may pay back your loan at any time. There are no prepayment fees.

Additional draws will be available for 2-5 years from your origination date depending on your loan term.

Troubleshooting

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You will enter information about your additional signers during the loan process. They will each be sent an email with details on how to log in to complete their own eNotary session.

Signing mortgage documents with an eNotary is new to the lending industry. Although many counties accept eNotary and electronically signed mortgage documents, some counties may still require documents to be signed with an in-person Notary. You will be alerted by one of our team members if you need to schedule an appointment for an in-person Notary session.

If you believe Figure has provided inaccurate information to consumer reporting agencies, please complete our Credit Reporting Dispute Form  Opens a new window. and email or mail it to the following address:

compliance@figure.com  Opens a new window. or

Figure Lending LLC Attn: Credit Disputes PO Box 40534 Reno, NV 84504

Figure will generally respond to your credit bureau within 30 days. The dispute process may be delayed if the information received is insufficient to identify your account or the information being disputed.

Once the information provided in your dispute is reviewed and deemed accurate, the decision is considered final. However, you may resubmit the dispute to the address below and provide any missing and/or new documentation that wasn’t submitted at the time of the original dispute.

Figure Lending LLC Attn: Credit Disputes PO Box 40534 Reno, NV 84504

Your resubmitted dispute will be processed using the same process as your original dispute.

You are required to have a camera in order to complete the video session with a Figure eNotary. If you do not have a camera on your desktop or laptop computer, you may need to use your mobile device to complete the loan process.

Unfortunately, you cannot modify application information once you’ve submitted your application. If you believe you have provided incorrect information, please contact us at 1-888-819-6388 (Not for use by New York borrowers) or loans@figure.com  Opens a new window.

If we identify a variance in your verified income compared to the stated income, a Figure team member will reach out to let you know. You will have the option to provide additional documentation (e.g. pay stubs and tax returns), or select a lower loan amount based on your verified income. In some cases, we may decline your application if your verified income does not qualify for the loan.

In order to complete your application, you are required to have an unexpired ID. We accept US Driver’s License, US State IDs and US Passports.

If you want to cancel your loan application, please contact us at 1-888-819-6388 (Not for use by New York borrowers) or loans@figure.com  Opens a new window. as soon as possible.

Figure evaluates your application based on a number of factors, including credit and property data. If you are declined, you did not meet one or more of our requirements. For the specific decline reasons, please refer to your Adverse Action Notice.

When you apply after receiving an offer in the mail, we request updated credit and property information. Figure will use this information to evaluate your application based on our criteria. If new data is available, you may not qualify for the same offer you received in the mail.

Yes, your credit history and property value may change over time. If you were declined, you are welcome to apply again.

Yes, we evaluate each application based on the applicant and property selected for financing. You are welcome to reapply with an eligible property type.

Yes, we evaluate each application based on the applicant and property selected for financing. Another owner of your property is welcome to apply.