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Figure HELOC

Online HELOC from $15,000 to $750,000 with a fixed-rate first draw and funding in as few as 5 days

Lender terms checked October 14, 2026
HELOC and Home Equity Lenders
See lender site

The Bottom Line

Max line
$750,000 (verified Oct 14, 2026). All rates and fees

Key facts

  • Fees: Up to 4.99% origination

Pros

  • Large lines, from $15,000 up to $750,000, with 10, 15, 20 or 30-year terms
  • No prepayment penalty
  • Funding in as few as 5 days on loans under $400,000, using remote online notarization
  • An option to redraw up to 100% of the line as you repay

Cons

  • Origination fee of up to 4.99% of the first draw, taken out of the line at closing
  • The full line is drawn at closing, so you pay interest on all of it from day one
  • The lowest APR (7.35%) goes to the most qualified applicants with a ten-year term; the range runs to 14.85%
  • Not available in a long list of states, including TX and NY

At a glance

Lender terms checked October 14, 2026
Product
HELOC (fixed-rate first draw, with a variable-rate option)
Lender type
Online lender
Credit line
$15,000 to $750,000
Term details
Terms of 10, 15, 20 or 30 years. The full line is drawn at closing, with an option to redraw up to 100% as you repay. No in-person appraisal for loans under $400,000. The minimum line is higher in some states.
Rate type
Fixed on the initial draw, with a variable-rate option
Index and margin
Variable rate and later draws: the Wall Street Journal Prime Rate for the prior month plus a margin (margin not published)
Rate floor and cap
Subject to a rate cap and a rate floor; the values are not published
Fixed-rate option
The initial draw is fixed. Additional draws are priced at Prime plus a margin and may cost more.
Origination fee
Up to 4.99% of the initial draw, depending on state and credit profile. A higher fee buys a lower APR.
Appraisal and closing costs
A $180 valuation fee if an automated value is not available; an appraisal of $500 to $2,000 on loans over $400,000; a $350 manual notary if the county does not allow eNotary; recording fees of $0 to $315 and recording taxes of $0 to $1,400 per $100,000 borrowed
Early closure fee
No prepayment penalty
Other costs and rules
Property insurance is required, and flood insurance may be.
Funding time (lender's claim)
As few as 5 days for loans under $400,000, assuming remote online notarization
States served
Not available in every state. The lender's page says the product is not available in: MA, VA, MS, IL, WI, VT, DC, OK, TX, NY, CO, WY, WV, SC. Confirm your state with the lender.
Online application
Yes
NMLS ID
1717824

Sources: figure.com/home-equity-line, figure.com/home-equity-line/heloc-calculator, read October 14, 2026

Sample pricing the lender publishes

Last verified October 14, 2026

This is the lender's own example, not a quote for you. Stated as of October 14, 2026. Its assumptions: Figure's headline 'lowest HELOC rate'. Its footnote says initial APRs range from 7.35% to 14.85% and include paying a higher origination fee for a lower rate, and that the lowest APRs are for the most qualified applicants and ten-year terms. No loan amount, loan-to-value or credit score is stated.

Sample pricing the lender publishes as read on the provider's page, with the date of the reading shown above
ItemValueDetail
Lowest published APR7.35% APRBest case: top qualification, ten-year term
Initial APR range7.35% to 14.85% APRIncludes the higher-fee option for a lower rate

Things to know before you apply

  • The origination fee is up to 4.99% of your initial draw, depending on state and credit profile, and it comes out of the amount you borrow.
  • A lower APR is available in exchange for a higher origination fee. The lowest APRs are for the most qualified applicants and ten-year terms only.
  • The full line amount (minus the fee) is drawn at closing, so interest accrues on the whole amount from the start.
  • Appraisal, notary and recording costs can add more: an appraisal for loans over $400,000, a manual notary if your county does not allow eNotary, and recording fees and taxes.
  • Credit score and loan-to-value limits, and the draw and repayment periods, are not published on the page we read.

Regulatory record

We found no CFPB enforcement action about home equity lending by this lender on consumerfinance.gov. Searched the CFPB enforcement actions list on October 14, 2026 for Figure Lending and Figure Technology. That is not a clean bill of health: other regulators, courts and state agencies also act on lenders.

Where these numbers come from

Everything in the table above was read from the lender's own pages, listed here with the day we read them.

NMLS ID 1717824, as the lender prints it on its own site. Confirm its licenses in your state on NMLS Consumer Access (that site blocks automated checks, so we have not confirmed the lookup ourselves).

What is Figure HELOC?

Sources read on the date shown
Figure HELOC is a home equity line of credit (HELOC) from Figure Lending LLC (doing business as Figure). It is an online lender. Product notes: HELOC (fixed-rate first draw, with a variable-rate option). Limits and terms as the lender publishes them: Credit line: $15,000 to $750,000. Rate type: fixed on the initial draw, with a variable-rate option. Fees, as published: Origination: Up to 4.99% of the initial draw, depending on state and credit profile. A higher fee buys a lower APR. Closing costs: A $180 valuation fee if an automated value is not available; an appraisal of $500 to $2,000 on loans over $400,000; a $350 manual notary if the county does not allow eNotary; recording fees of $0 to $315 and recording taxes of $0 to $1,400 per $100,000 borrowed. Early closure: No prepayment penalty. Figure HELOC publishes an example rate with its assumptions (shown on this page, dated October 14, 2026). It is the lender's illustration, not a quote for you. HELOC rates are usually variable, so the rate you pay can change after you open the line. Your home is the collateral for a HELOC, so falling behind on payments could put it at risk. We read these figures from the lender's own pages on October 14, 2026; the pages are listed under 'Where these numbers come from'.
Sourcefigure.com ↗

Key details

Lines from $15,000 to $750,000Fixed-rate first draw, 10 to 30-year termsFunding in as few as 5 days under $400,000No prepayment penaltyNMLS ID 1717824

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Figure HELOC FAQ

How much can you borrow with Figure HELOC?

Figure HELOC publishes credit lines from $15,000 to $750,000. Your own limit depends on your home's value, what you owe and your credit.

Is the Figure HELOC rate fixed or variable?

Rate type: Fixed on the initial draw, with a variable-rate option. Rate basis: Variable rate and later draws: the Wall Street Journal Prime Rate for the prior month plus a margin (margin not published). Floor and cap: Subject to a rate cap and a rate floor; the values are not published. A variable rate can change over the life of the line.

What fees does Figure HELOC charge?

Origination: Up to 4.99% of the initial draw, depending on state and credit profile. A higher fee buys a lower APR. Closing costs: A $180 valuation fee if an automated value is not available; an appraisal of $500 to $2,000 on loans over $400,000; a $350 manual notary if the county does not allow eNotary; recording fees of $0 to $315 and recording taxes of $0 to $1,400 per $100,000 borrowed. Early closure: No prepayment penalty.

How fast can you get funds from Figure HELOC?

The lender's own claim: As few as 5 days for loans under $400,000, assuming remote online notarization. Your timeline depends on your home, documents and state, and a 3-business-day cancellation period usually applies on a primary residence.

Will Figure HELOC quote my rate here?

No. Financeradar is not a lender and we do not quote personal rates. We show what the lender publishes, with the date we checked it. Your own rate comes from an official offer from the lender.

Source: figure.com