Figure HELOC - 10 Year
Figure
NMLS #1717824
4.2
Copiafy Score
APR
6.40%
Fixed Rate
Loan Range
$15,000
to
$400,000
Term
10
years
Min Credit
640
score
Expert Take
Figure is a great choice if you want a fast loan process with no in-person meetings. The best thing about Figure is speed - you can pre-qualify in five minutes and get your money in as little as five business days. Figure rates are lower than average, and you can save more by setting up automatic payments or joining certain credit unions. However, you will pay a big origination fee, and the HELOC works more like a regular home equity loan with a fixed rate and one large withdrawal.
Pros & Cons
Pros
- Money available in five business days
- Uses a computer system to value your home so you do not need an in-person appraisal for most properties
- Get rate discounts for automatic payments and being a member of eligible credit unions
Cons
- Origination fee up to 4.99%
- You must take all of your approved credit line at once, whether you need it all or not
- Maximum loan is $400,000, which is lower than many other lenders
- Interest rates can be as high as 15.90%
Product Details
Customer Reviews
2.7
31 reviews
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Figure HELOC - 30 Year
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APR
6.65%
Fixed
Loan Range
$15,000 - $750,000
Term
—
Figure is a great choice if you want a fast loan process with no in-person meetings. The best thing about Figure is speed - you can pre-qualify in five minutes and get your money in as little as five business days. Figure rates are lower than average, and you can save more by setting up automatic payments or joining certain credit unions. However, you will pay a big origination fee, and the HELOC works more like a regular home equity loan with a fixed rate and one large withdrawal.
No Annual Fee
Fast Funding
Online Only
Min Credit Score: 640+
Customer Rating:
2.7 (31)
Copiafy Score:
4.2