Why a home equity line of credit is better than a personal loan

Learn why Figure's HELOC could be the better choice:

• Faster and easier

  With Figure, you could get approved in as little as 5 minutes with funding in as few as 5 days,^{2navigates to numbered disclosure} all with a 100% online application. Personal loans often require more documentation and can take longer to process.^{4navigates to numbered disclosure} No need to jump through hoops or waste time with lengthy in-person appointments.

• Borrow more for less

  HELOCs typically offer lower interest rates than personal loans, which could help you save money over time. Plus, with Figure, you could borrow up to $400k^{4navigates to numbered disclosure} and enjoy longer loan terms up to 30 years. And with the ability to redraw funds as needed, you have the flexibility to manage unexpected expenses or ongoing needs.

• Trusted with billions

  At Figure, we've helped thousands of people achieve their financial goals through our innovative and convenient lending solutions. Figure has funded over $9 billion in HELOCs, making us a trusted and experienced lender in the industry. Our innovative technology and customer-centric approach make us the best choice for your financing needs.

• Interest rates

  A Figure HELOC typically has lower interest rates than personal loans.^{4navigates to numbered disclosure} While traditional HELOCs usually have variable interest rates that can change over time, our HELOC provides fixed rates^{1navigates to numbered disclosure} for added stability and predictability in your payments.

• Potential tax breaks

  Depending on how you us the loan, interest payments may be tax deductible which isn't the case for a personal loan. Be sure to consult a tax advisor.