Figure HELOC Review: Fast and Fixed-Rate Equity Access

Figure's HELOC: Quick funding, fixed rates, up to $400K, even for second homes.

Figure HELOC Review: Fast and Fixed-Rate Equity Access


  • Maximum Loan Amount: Up to $400,000, catering to significant financial needs.
  • Loan-to-Value Ratio: Max LTV of 85%, allowing borrowers to tap into a substantial portion of their home equity.
  • Interest Rate: Fixed rates for all draws, ensuring payment stability throughout the loan term.
  • Speedy Closing: Potential for loan closing within just five days of application.


  • Quick Access to Funds: Ideal for borrowers needing immediate funding.
  • Fixed Interest Rates: Provides predictability in monthly payments, safeguarding against market fluctuations.
  • Flexibility for Second Homes: Unique in the HELOC market, offering options for secondary properties.
  • No Hidden Fees: Transparent costs with a focus on simplicity and efficiency.

Product Summary

Figure's Home Equity Line of Credit stands out in the financial product landscape for its rapid processing time, allowing borrowers to access funds within five days, and its application to second homes. With a borrowing cap of $400,000 and a minimum initial draw of $20,000, this HELOC solution is designed for those seeking substantial funding with fixed interest rates for both the initial balance and additional draws. While the draw period of two to five years is notably shorter than the industry standard, it ensures that borrowers can manage their finances with greater certainty over a shorter horizon. The origination fee is a consideration, but the trade-off comes with the benefit of fixed rates and the absence of hidden charges. Figure’s digital-first approach streamlines the application process, making it a compelling choice for homeowners who prioritize speed, simplicity, and the assurance of fixed repayment schedules.

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