Loans
Figure Home Equity Line review: how does it work and is it good?
If you're looking to borrow against the equity in your home, our Figure Home Equity Line review is just what you need. Enjoy fast funding! Read on!
Advertisement
Figure Home Equity Line: Get up to $400k
If you’re looking for a Home Equity Line of Credit to tap into your equity, don’t miss this Figure Home Equity Line review.
Apply for the Figure Home Equity Line
How to apply for the Figure Home Equity Line? Let us guide you through the process with our useful tips! Get up to $400K! Check it out!
To determine if Figure Home Equity Line fits your needs, we will look in-depth at its features and how it works. Keep reading to get more information!
- APR: See terms;
- Loan Purpose: Debt consolidation, home repairs, large purchases, and more;
- Loan Amounts: $15,000 to $400,000;
- Credit Needed: At least 640;
- Origination Fee: See terms;
- Late Fee: No late fees;
- Early Payoff Penalty: No payoff penalties.
What is the Figure Home Equity Line of Credit?
This Figure Home Equity Line review concerns this fixed-rate loan option offering $15,000- $400,000 in equity from your home.
The loan terms are 5, 10, 15, or 30 years and the process is fast and easy. So you won’t need to worry about complicated processes!
To qualify for the loan, an automated valuation model is used to appraise your home, eliminating any fees associated with traditional appraisals.
Once approved, you can receive funds within five days and get approval within five minutes.
In addition, Figure can pre-qualify you without impacting your credit score.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Fees
Figure charges an origination. In addition, depending on where you live, certain recording fees may be associated with obtaining this HELOC.
However, Figure Home Equity Line does not come with annual, late, or prepayment penalty fees.
Setting an autopay for discount
You can also lower your monthly payments by setting up autopay for a 0.25 rate discount.
Also, you can join one of their partner credit unions, such as Quorum Federal Credit Union or Teachers Federal Credit Union, for another 0.25% rate discount.
Primary or secondary residences are accepted
Numerous lenders mandate that you must occupy the property as your primary residence.
However, Figure grants more flexibility by permitting a HELOC for secondary properties.
Is the Figure Home Equity Line of Credit good?
If you are searching for a lender that offers low fees, attractive rates, and the promise of fast approval, Figure Home Equity Line is what you’re looking for.
Further, take a closer look at its advantages and drawbacks to determine if this is the right financial institution for you!
Pros
- Fast funding;
- Fixed interest rates;
- Online application;
- First and secondary properties qualify.
Cons
- Origination fee;
- Low loan amount.
Does Figure check credit scores?
Figure Home Equity Line performs a gentle credit examination. So, here are the possible amounts you’ll get depending on your credit score.
- 640 to 679: $125,00;
- 680 to 699: $200,000;
- 700 to 739: $250,000;
- 740 to 759: $275,000;
- 760 or higher: $400,000.
Want to apply for Figure HELOC? We will help you!
Are you interested in taking advantage of Figure Home Equity Loan incredible offerings? If so, read on, and we’ll show you how to apply!
Apply for the Figure Home Equity Line
How to apply for the Figure Home Equity Line? Let us guide you through the process with our useful tips! Get up to $400K! Check it out!
About the author / Suzana Brito
Trending Topics
Ally Platinum Mastercard® review: boost your credit fast!
Build your credit without breaking the bank. Learn about the features and benefits of the Ally Platinum Mastercard® in our review!
Keep Reading
Stimulus Check: Get the scoop about this government program
Are you wondering what a Stimulus check is? Read our article for all the information you need on this governmental program. Check it out!
Keep Reading
Choose the best flight deal for your next trip
Learn how to choose the best flight deal for your next trip. Save time and money with this travel guide! Check it out!
Keep ReadingYou may also like
6 types of savings accounts: opportunities for growing your money
Do you want to save your money? Learn about different types of savings accounts and how each could benefit you. Keep reading!
Keep Reading
Choose the right checking account for you
A checking account is necessary for your financial life. Learn about the different types of checking accounts and find the best one.
Keep Reading
Target App review: shop online and enjoy discounts
Check out the Target app review to learn how it can help you save money and access exclusive discounts. Keep reading to find out more!
Keep Reading