2021 Personal Loan Review Figure • Pros, Cons & More • Benzinga

Personal loans

Figure allows you to access up to $ 50,000 in personal loans. Complete the online application in minutes and wait for funding in just over 2 business days. You can start the loan application process by checking your rate, which does not affect your credit score. Just provide a few details about yourself and you will get your prequalification rate for the most suitable Figure loans for your situation.

Figure’s automated app lets you connect all of your accounts to speed up the whole process and receive your funds without any hassle. Personal loans come with several fixed-term options that allow you to schedule your payments and know exactly when you will cancel your loan.

Figure will reward you with a $ 150 gift card for spreading the word to your friends, and they will also receive a $ 150 gift card when their personal loan is funded.

Customer service is available at 888-243-1099 Monday through Saturday, 6 a.m. to 6 p.m. PT.

Home Equity Line of Credit (HELOC)

Homeowners can access Figure’s HELOC facilities on their condos, single-family homes and townhouses. With a quick, easy, and 100% online application, you’ll be approved in 5 minutes – no in-person assessment required. And you will receive your financing in 5 days2.

The figure allows you to lock in a rate as low as 2.88% APR1 with the possibility of refreshing up to 100%. You can take advantage of 0 prepayment penalties with optional discounts and original opportunities to reduce your payments, if you qualify based on your credit profile and the state you live in.

Announced figure rate of 2.88% APR1 includes a combined APR rate reduction of 0.75%. You will receive a 0.25% discount for the option in Autopay, which allows your monthly payment to be automatically deducted from your payment account.

You will also benefit from an APR rate reduction of 0.50% for joining a credit union. This rate also includes the payment of an origination commission of 4.99% in exchange for a reduced APR.

For most states, Figure offers lines of credit ranging from $ 15,000 to $ 250,000, except in Alaska and Wisconsin where the minimum loan amount is $ 25,001. You will also be eligible for a line of credit with a credit score of 620. But keep in mind that in Oklahoma your score must be 720.

For terms of 5, 10 and 30 years, Figure’s loan limits are as follows:

  • FICO score of 630 to 850, minimum loan is $ 15,000
  • FICO score of 620 to 679, maximum loan is $ 75,000
  • FICO score from 680 to 759, maximum loan is $ 150,000
  • FICO score of 760+, maximum loan is $ 250,000

HELOC candidates will benefit from excellent customer support with an average response time of less than 45 seconds. Phone support is available Monday through Saturday, 6:00 a.m. to 6:00 p.m. PT. Online video notary sessions are also available in some locations.

Mortgage refinancing

The figure offers prices. It creates indirect demand to generate your pre-qualified rate, which will not impact your credit score. Only single family homes and townhouses are eligible for 15 and 30 year mortgage refinancing, with loans supported for primary residences only.

Most applicants can complete their mortgage refinance application in about 10-20 minutes, and you will have to wait about 20 days for a decision. The figure allows up to 30 days to complete your request once you have selected your initial terms. Compliant loan and jumbo loan refinancing is available.

Figure 15 and 30 Year Fixed Rate Mortgage Refinance options are available in the following options:

  • A 15-year compliant loan has a refinance loan range of $ 100,000 to $ 822,375, subject to county limits and including an opt-out option.
  • A 30-year compliant loan has a refinance loan range of $ 100,000 to $ 822,375, subject to county limits and including the opt-out option.
  • For a 30-year jumbo loan, Figure allows you to borrow up to 75% of the value of your home (maximum of $ 1,000,000) for cash refinancing and up to 80% of the value of your home ( maximum of $ 1,500,000) for interest rate refinancing.
  • As of this writing, jumbo does not offer 15-year jumbo loans.
  • Figure accepts a minimum FICO score of 620 for compliant loans and at least 700 for jumbo loans.

Numbers loans are not subject to prepayment charges – you can pay off your loan at any time. You can also apply for multiple loans as long as you meet the minimum requirements for each loan.

Figure loans come with a convenient and transparent fee, as follows.

  • Personal loan: Figure’s only fees on their personal loan product are a standard setup fee ranging from 0% to 3% depending on your local and state laws. You will see the origination fee on the loan offer page when you choose a loan term. There is no prepayment charge if you prepay your loan.
  • Home equity line: If you are looking to apply for a Home Equity Line of Credit, Figure will not charge you an account opening fee, an account maintenance fee, or a prepayment penalty. The only costs you will incur are origination costs. You may be eligible for a home equity line at a start-up charge of 3% or 4.99% of the original drawdown amount depending on your credit profile and location.

In the event that you are eligible for multiple set-up fee options, you may be able to reduce your monthly payment and fixed APR offers. You can also pay a registration fee depending on your country of residence, as well as a subordination fee if you ask Figure to change its privilege position.

  • Mortgage refinancing: Mortgage refinance fees include fees that are often associated with a typical mortgage application, such as appraisal fees, title, settlement, registration fees, and points of discount. These costs will only represent 2% of your total loan amount.

The Figure mobile app is available on the App Store and Google Play. The features of the application provide an experience as fluid as accessing the platform via the web.

Log in to the app to see what you owe on your Figure loans, view your payment history, make additional payments, and view important documents. Unfortunately, users are still not satisfied with its eNotary video feature.

Figure enjoys excellent customer support, with all of its loan products having a dedicated customer support line.

  • Phone support for the Home Equity Line and Personal Loan Applications is available at 888-819-6388 Monday through Saturday, 6 a.m. to 6 p.m. Pacific Time, excluding all major holidays in the United States. United States.
  • Mortgage Refinance Application Support is available at 888-697-1506.
  • Active loan support is available at 888-819-6388 Monday to Friday 6 a.m. to 6 p.m.
  • General support is available via email [email protected]
  • Notices, complaints and inquiries can be sent by post to: PO Box 40534, Reno, NV 89504

Figure is a solid online lender whose product deals are a good deal for most people. Its fully online application process takes care of the paperwork and the fees for its products are incredibly affordable.

Each of Figure’s products has a dedicated customer support line available Monday through Saturday. Despite this, Figure still has to work on its mobile app, which has received several malfunction complaints.

Start your loan application today to see what rates you qualify for. You can quickly get financing for your Figure loans and get additional service if needed.

Figure Lending LLC dba Figure | NMLS # 1717824 – NMLSCONSUMERACCESS.ORG

Figure Home Equity Line is available in AK, AL, AR, AZ, CA, CO, CT, DC, FL, GA, IA, ID, IL, IN, KS, LA, MA, ME, MI, MN, MO, MS , MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SD, TN, VA, VT, WA, WI, WY with more states to come.

Figure Mortgage Refinance is available in AK, AL, AR, AZ, CA, DE, FL, GA, IA, ID, IN, KS, LA, MA, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, SD, TN, WA, WI, WV with more to come.

The Figure personal loan is available in all 50 states.

1 For Figure Home Equity Line, APRs can be as low as 2.88% for the most qualified applicants and will be higher for other applicants, depending on the credit profile and the state of the property. For example, for a borrower with a 45% CLTV and 800 credit score who is eligible and chooses to pay an origination fee of 4.99% in exchange for a reduced APR, a net worth line of five years with an initial drawdown amount of $ 50,000 would have a Fixed Annual Percentage Rate (APR) of 2.88%. The total loan amount would be $ 52,495. Your actual rate will depend on many factors such as your credit, combined loan-to-value ratio, loan term, occupancy status, and whether you are eligible and choose to pay a set-up fee in exchange for a lower rate. Payment of origination fees in exchange for a reduced APR is not available in all states. In addition to paying the original fee in exchange for a reduced rate, the advertised rates include a combined 0.50% discount for Credit Union Membership (0.25%) and payment registration. automatic (0.25%). Home Equity Lines of Credit APRs do not include charges other than interest. Property insurance is required as a condition of the loan, and flood insurance may be required if your property is located in a flood-prone area.

2 For the Figure Home Equity line, approval can be granted in five minutes but is ultimately subject to income and employment verification. The financing period of five working days assumes the closing of the loan with our remote online notary. Funding times may be longer for loans secured by properties in counties that do not allow electronic signature recording or that otherwise require in-person closing.


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