Due to the current impacts of COVID-19, including the closure of county recording offices, uncertainty regarding notary availability and other issues, we are suspending the offering of our HELOC product. We apologize for any inconvenience. You can, however, join our waiting list by providing your email and we will let you know when our HELOC is available.

Figure Home Equity Line

Homeowners could save an average of $6,225  navigates to the related disclosure by leveraging their home equity.

With Figure, homeowners could save thousands by using their home equity to consolidate debt and significantly lower their interest rate.

Pre-qualification does not affect your credit score.8  navigates to the related disclosure

A new study shows that secured borrowing options can save typical homeowners thousands.

Collectively, homeowners are paying $100 billion more in loan interest payments when lower-cost options are available. Our research shows that millions of homeowners are relying on personal loans and credit card debt even when they have sufficient home equity to cover their financing needs with a secured loan, which typically has much lower interest rates.

See how your state stacks up, and how much (on average) you could be saving.

A state-by-state view of the average debt

Hover over any state to view the average debt

*Figure does not currently provide HELOCs in these states

Approval in 5 minutes. Funding in 5 days.2  navigates to the related disclosure

100% digital application, no hassle

Our application is fast, easy, and all online. No in-person appraisal needed. Get approved in 5 minutes, all from the comfort of home.

Enjoy a low, fixed rate  navigates to the related disclosure

With rates starting at 4.75% APR1  navigates to the related disclosure, you can borrow up to $150,000 and only pay a one-time origination fee.7  navigates to the related disclosure

Online video notary and support

Online video notary sessions are available in some locations. Call us with questions Mon–Sat 6am–6pm PT at 888-819-6388.

Your home equity could earn you a great rate

Our home equity line allows you to consolidate debt at a lower rate compared to credit cards and personal loans.

Figure Logo
Figure Logo
Credit Card
Personal Loan
Traditional HELOC
15 - 20% (floating)
10 - 20%
5 - 10% (floating)
Same-day approval
Yes
Yes
Maybe
No
Yes
Yes
Maybe
No
Potentially Tax Deductible5  navigates to the related disclosure
Yes
No
No
Yes
Only an origination fee
Yes
No
No
Maybe
Fixed monthly payments
Yes
No
Yes
No

Is a HELOC right for you? Learn more

Is a HELOC right for you? Learn more

See what our members are saying

Don’t just take our word for it—read what our members have been saying about their experience with Figure.

Questions? We’re here to help.

No, checking your rate will not affect your credit score. However, if you decide to take a loan, we will need to conduct a hard credit pull which can drop your score temporarily by a few points.

Traditional HELOCs can take up to 30 to 45 days, which is normally the time it takes for loan underwriters to process the application. With Figure, you can get approved in 5 minutes and have your funding in as few as 5 days.

An origination fee is what we charge to give you a loan. It ranges from 0 to 4.99% of your initial draw, depending on the state in which your property is located. You may also be responsible for paying recording fees, which vary by county.

It varies by your other credit criteria, including your FICO score and your debt-to-income ratio. Figure requires that you retain at least 5% equity in your home following the HELOC funding, though depending on your overall profile that minimum requirement may be higher.

Figure offers lines of credit from $15,000 up to $150,000. You’ll need a minimum credit score of 620, and the maximum Combined Loan-to-Value ratio is 95%.

Unfortunately, you cannot write off interest if you use your loan for debt consolidation. You may be able to write the interest off if your loan is used for home improvements5  navigates to the related disclosure.

Will checking my credit hurt my credit score?

No, checking your rate will not affect your credit score. However, if you decide to take a loan, we will need to conduct a hard credit pull which can drop your score temporarily by a few points.

How long does it take to get a HELOC?

Traditional HELOCs can take up to 30 to 45 days, which is normally the time it takes for loan underwriters to process the application. With Figure, you can get approved in 5 minutes and have your funding in as few as 5 days.

What is an origination fee?

An origination fee is what we charge to give you a loan. It ranges from 0 to 4.99% of your initial draw, depending on the state in which your property is located. You may also be responsible for paying recording fees, which vary by county.

How much equity do you need for a HELOC?

It varies by your other credit criteria, including your FICO score and your debt-to-income ratio. Figure requires that you retain at least 5% equity in your home following the HELOC funding, though depending on your overall profile that minimum requirement may be higher.

What line of credit amounts does Figure offer?

Figure offers lines of credit from $15,000 up to $150,000. You’ll need a minimum credit score of 620, and the maximum Combined Loan-to-Value ratio is 95%.

Is HELOC interest tax-deductible?

Unfortunately, you cannot write off interest if you use your loan for debt consolidation. You may be able to write the interest off if your loan is used for home improvements5  navigates to the related disclosure.