Figure
Digital HELOC. Fixed rate on the draw. Built for speed.
Home equity
Figure is a non-bank HELOC lender. The process is online, often uses an automated valuation instead of a full appraisal, and is marketed around funding in days rather than weeks. The initial draw is typically fixed-rate and fully advanced. Combined LTV is commonly capped around 85%. Origination fees can apply even when lender calls the product “no closing costs.”
Mortgage refinance
Figure is not a cash-out refinance lender. It does not replace the first mortgage. The first lien stays. The HELOC is a second lien.
Home equity investment
Figure does not offer its own home equity investment. Point’s HELOC is originated through Figure; that is a partnership, not a Figure HEI.
- Draw period is shorter than a typical bank HELOC — often about five years.
- Speed is the product. The rate is still a function of credit, CLTV, and state.
- Recording fees and state taxes can still show up at closing.
Outbound link carries a tapthe.house UTM tag. Terms on their site control. This page is not an offer.