Figure Overview
Figure is a fintech company that has reinvented the HELOC (Home Equity Line of Credit) using blockchain technology. Unlike traditional banks that take 30-60 days to process a HELOC application, Figure can approve and fund HELOCs in as little as 5 days — a speed advantage that makes them one of the fastest equity access solutions available to real estate investors.
Figure's 100% online application process eliminates the paperwork, branch visits, and lengthy processing times associated with traditional HELOCs. Their blockchain-powered platform handles appraisal, title, and closing digitally, compressing what used to be a multi-week process into a matter of days. For investors who need to access equity quickly to fund new acquisitions, cover renovation costs, or seize time-sensitive opportunities, Figure provides capital velocity that traditional banks cannot match.
Importantly for real estate investors, Figure offers HELOCs on both primary residences and investment properties. Many traditional HELOC lenders only serve primary residences, leaving investors without access to the equity built up in their rental properties. Figure fills this gap, making them a valuable tool for portfolio investors looking to recycle capital without doing a full cash-out refinance.
Loan Products Offered
- HELOC on primary residences — access equity in your home for investment capital
- HELOC on investment properties — tap equity in rental properties (limited to select programs)
- Home equity loans — lump-sum access to property equity
- HELOC for debt consolidation, renovations, and investment purposes
Rates and Terms
Figure offers competitive HELOC rates that are variable and tied to the prime rate. Rates depend on credit score, LTV, and property type. Figure's rates are generally competitive with major banks and credit unions, with the added benefit of dramatically faster closing times.
HELOC lines range from $15,000 to $400,000, with combined LTV maximums of 85-95% depending on the program. The initial draw period is typically 5 years, followed by a repayment period. There are no annual fees, and the application and origination process is handled entirely online.
The blockchain technology underlying Figure's platform is not a gimmick — it actually enables faster title verification, automated lien processing, and near-instant funding once the HELOC is approved. This is the practical benefit of their technology stack for borrowers.
Requirements
- Minimum credit score: 640-680 depending on the program
- Minimum equity: At least 15-20% equity in the property
- Property types: Primary residences (all states), investment properties (limited availability)
- LTV: Combined LTV up to 85-95% depending on property type and credit
- Income: Standard income verification required (W-2, tax returns, or bank statements)
- Application: 100% online — no branch visits or paper documents
Pros
- Closing in as few as 5 days — dramatically faster than traditional HELOC lenders
- 100% online process — no branch visits, no paper applications
- Available for investment properties, not just primary residences
- Blockchain-powered platform for faster title and lien processing
- No annual fees on HELOC lines
- Competitive rates comparable to major banks
Cons
- Variable rates tied to prime — costs increase when interest rates rise
- Investment property HELOC availability may be limited by state and program
- Line amounts capped at $400,000 — not suitable for tapping large equity positions
- Not available in a small number of states
- Standard income verification required — not a no-doc product
Who Is Figure Best For?
Figure is best for real estate investors who want fast access to equity in their existing properties without going through a traditional cash-out refinance. If you have a rental property with built-up equity and want to pull that equity out to fund a down payment on your next acquisition, Figure can have the funds in your account in 5 days. Compare that to the 45-60 days a typical cash-out refinance takes, and the time value is clear.
Figure is also valuable for investors who want to keep their existing mortgage in place. A HELOC sits in second position behind your first mortgage, so you do not need to refinance out of a low-rate first mortgage just to access equity. This is particularly relevant for investors who locked in rates during the 2020-2021 low-rate environment and do not want to give up those terms.
How to Apply
Figure's entire application process happens online at figure.com. You will enter your property details, personal information, and financial data. Figure will pull a soft credit check for pre-qualification and then guide you through the full application process, including automated property valuation and title verification.
The approval process is fast — many applicants receive a decision within 24-48 hours. If approved, closing and funding can happen within 5 days. Have your property information, income documentation, and a general sense of how much equity you want to access ready before starting the application.