Power your home with lower payments using your home equity
Are you ready to take your home to the next level with solar panels? With our Home Equity Line of Credit, you can make the switch to clean, renewable energy and increase the value of your home while saving on your energy bills.
Checking your rate will not impact your credit.3: Navigates to numbered disclaimer
3,573 Excellent Reviews on Trustpilot rating: 4.8 out of 5 stars Opens in a new window. Opens in a new window.
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Why you should use Figure to finance your solar panels:
Savings
A Figure HELOC offers a lower rate and longer terms than personal loan and solar loan financing, resulting in a lower monthly payment.4: Navigates to numbered disclaimer
Transparency
Figure’s payment schedule and fees are clear and your interest rate for each draw will remain the same for the life of the loan. No surprises or hidden fees6: Navigates to numbered disclaimer, and you know what you are approved for in advance.
Simplicity
Solar financing can be confusing without clear rates and costs. With Figure, you can get approval in 5 minutes and enjoy predictable monthly payments at a competitive rate.6: Navigates to numbered disclaimer
Flexibility
Choose the amount and payment terms to suit your needs, with no prepayment penalty. You may also be eligible for an investment tax credit (ITC) Opens in a new window. to help cover the cost of your panels7: Navigates to numbered disclaimer.
How Figure stacks up to other kinds of solar financing
Figure offers transparent and easy to understand payment options, and no hidden fees6: Navigates to numbered disclaimer.
| Figure HELOC | Solar Loan | Personal Loan*: Navigates to table disclaimer | |
|---|---|---|---|
| Rates | Lower | Lower | Higher |
| Loan Amount | Up to $750k5: Navigates to numbered disclaimer | Up to $150k | Up to $100k |
| Funding Timeline | Get funding in as few as 5 days on loans of $400K or less2: Navigates to numbered disclaimer | At project completion | Average 3-5 days |
| Approval Timing | As little as 5 minutes | Less than 5 minutes | Less than 5 minutes |
| Dealer Fees | None | Up to 50%**: Navigates to table disclaimer | None |
| Tax Deductible | Yes (be sure to consult a tax professional) | No | No |
| Can be used for anything (Installation, maintenance, etc) | Yes | Solar Installation Only | Yes |
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
A perfect match for what we needed!
I am so impressed that the process was truly all digital! Other HELOC lenders wanted 20+ documents submitted, and the process could take weeks. The rate and fee options are very competitive and the chat support was always available when I had a question.
We are using the loan to add a new roof and solar to our house, and I was happy to learn they will reamortize the loan after making a payment of more than 10% of the balance. This will be perfect when we apply solar tax credit money next year. The E-Notary process was easy and the timing of the steps was very reasonable. We got funds in a little over a week ..even with the 3-day cancel period.
— David F
