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Bottom Line: Figure competes in the Home Equity HELOC market by offering fastest funding in the industry (5 minutes approval, 5 days funding). Not for everyone, but a strong contender for its target audience.
Overview
Figure is the largest non-bank HELOC lender in the US, offering the fastest way to turn home equity into cash with approval in 5 minutes and funding in as few as 5 days.
Figure is known for providing services in fast funding, helocs, debt consolidation, home improvement, with loans ranging from $15,000 – $400,000, accepting credit scores from 620 and up.
On the plus side: fastest funding in the industry (5 minutes approval, 5 days funding), largest non-bank heloc lender in the us, entirely online application process. The trade-offs? must draw entire balance at closing (minimum $15,000), shorter draw period (5 years vs. 10 years for traditional helocs).
Key Features
- Largest non-bank HELOC lender in the US
- Fastest way to turn home equity into cash
- Approval in 5 minutes. Funding in as few as 5 days
- Use to consolidate debt or finance your next home project
Rates & Fees
Here’s how the numbers break down.
- APR range: 6.20%
- Loan amounts: $15,000 – $400,000
- Fees: Up to 4.99%
Your actual rate depends on credit score, loan amount, and term length. These numbers reflect advertised ranges — your offer may differ.
Who Is This For?
Figure is geared toward those looking for fast funding. A minimum credit score of 620 makes this accessible to borrowers with fair credit or better. Particularly strong for anyone in the market for fast funding, helocs, debt consolidation, home improvement.
This might not be the best fit if must draw entire balance at closing (minimum $15,000) is a dealbreaker for you.
Application Process
Quick online application — about five minutes to complete. Decisions come back fast, often the same day.
How Figure Compares
Within the home equity heloc space, Figure occupies a solid mid-tier position — competitive enough on rates, strong enough on features.
With a rating of 9.4/10, it ranks among the stronger options available.
Best For: Fast funding
Response Time: 5 minutes
Related reading
Figure lends as a HELOC. If you are still choosing between borrowing and selling equity:
