Get Cash from Your Paid-Off Home—Unlock Your Equity with a Fast HELOC
Even if your mortgage is fully paid off, you can still tap into your home’s equity—no new mortgage required.
- Access $15k–$750k.5: Navigates to numbered disclaimer No in-person appraisal needed for loans under $400K.
- Fully disbursed loan. Get approval in 5 minutes and funding in as few as 5 days on loans under $400K.2: Navigates to numbered disclaimer Take additional draws as needed during the draw period.
- Lower fees and faster processing than a traditional cash-out refinance, which can take weeks to complete.*
Checking your rate will not impact your credit.3: Navigates to numbered disclaimer
*nerdwallet.com/article/mortgages/refinance-cash-out
Featured in
Mortgage-Free and Need Cash? 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.
Approval in 5 minutes, funding in as few as 5 days2: Navigates to numbered disclaimer
100% online application
Streamlined digital process. Get approved in 5 minutes with no impact on your credit score!3: Navigates to numbered disclaimer
Fixed rate options1: Navigates to numbered disclaimer
You can lock in a fixed rate so you always know how much your payment is.
Flexible access to funds
Borrow $15,000 to $750,000 with a one-time origination fee.5: Navigates to numbered disclaimer As you repay the balance, you can withdraw money from the credit line, during the draw period, as you would with a credit card when you need it.
Lower closing costs
Figure’s fast HELOC eliminates many manual steps—like in-person appraisals—making it a smarter, more cost-effective way to access your home equity.
Compare your options
Discover why Figure’s HELOC is a better choice for paid-off homeowners needing funds faster and with flexible terms.
| Feature | Figure HELOC | Cash-Out Refinance |
|---|---|---|
| Paid-Off Home Friendly? | Yes – no existing mortgage required. Easily tap into equity you already own. | Yes, but you’ll be creating a brand-new mortgage losing the advantage of being mortgage-free. |
| Rate | Fixed1: Navigates to numbered disclaimer or variable8: Navigates to numbered disclaimer | Fixed |
| Access to Funds | Flexible - Access funds as needed during the draw period | Receive a lump sum at closing, with no flexibility to access additional funds later. No redraws allowed |
| Closing Costs | Generally lower than cash-out refinances* | Typically higher |
| Competitive Fees | Up to 4.99% origination fee with no hidden charges6: Navigates to numbered disclaimer | Up to 6%, often including title, appraisal, and closing costs* |
| Approval Time | Faster - Get approved online in 5 minutes! | Longer, involving a full mortgage application process |
| Fund Disbursement | Quickly - Often in as few as 5 days2: Navigates to numbered disclaimer | Usually 30-60 days** |
Use our HELOC calculator to see how much you could qualify to borrow
The amount you can borrow with a HELOC will vary based on certain factors such as the appraised value of your home and what percentage of that value the lender will allow you to borrow.
To determine how much you can borrow with a HELOC, you need to first calculate the maximum amount of equity that could be borrowed. Figure’s loan amounts range from a minimum of $15,000 to a maximum of $750,000.5: Navigates to numbered disclaimer
Checking your rate today won’t impact your credit!
Adjust the chart below to create the custom amount that relates to you.
$800,000
Current Home Value
$550,000
Remaining Mortgage Amount
In this scenario, you could qualify to borrow up to
$90,000
Check Out Your Rate*Based on borrowing 80% of your current home value
By far the BEST user experience
By far the BEST user experience out of all of the places I️ applied for! It was all over in 7 business days, I️ was FUNDED and little did I️ know, I️ would have a water pipe break the next week with damages in the thousands! I️ had the funds already! Thank you Figure! I️ recommend Figure over any other company for a HELOC or refinance!
Written by customer— Ty W.
The application process was relatively easy
Customer service was readily available to answer my many questions. I learned a few new things through the notary process, technologically advanced approach to closing...Overall it's been an interesting an innovative way to access the equity in my home without going through a Refi.
Written by customer— Ms. Murphy
Figure is GREAT!!
I applied for a refi with cash out [and a HELOC] with my bank. It took three weeks, to only be turned down. The process was slow, unreliable and frustrating. [With Figure], we knew within minutes. And within a few short days, the entire deal was done. Seriously, we could not believe it. It all happened so fast. It was a wonderful experience!! We will do our next loan with Figure.
Written by customer— Susan P.
Outstanding value
Outstanding value compared to the hidden cost of cash out refi. They wanted me to increase my mortgage balance by 110k to pull out 70k. 40k in fees??? Figure.com was fast, straight to the point, and fair for the HELOC. Thank you!
Written by customer— David D.
3638 Excellent Reviews on trust pilot
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