Figure HELOC review 2026
Figure offers a variable-rate HELOC with a starting APR of ~6.55%–15.54% APR (fixed for the draw); varies by term, credit, and origination fee — refresh monthly. It's best for fast, fully-online fixed-rate helocs with funding in days, typically wants a credit score of 640 (720 in OK) or higher, and lends up to $750,000 (min initial draw $15,000; higher in TX/AR) at a maximum combined loan-to-value of Up to 85% CLTV. Compare it against at least two other lenders before deciding — checking your rate through King of HELOC won't affect your credit.
Figure HELOC at a glance
| Starting APR | ~6.55%–15.54% APR (fixed for the draw); varies by term, credit, and origination fee — refresh monthly |
|---|---|
| Min. credit score | 640 (720 in OK) |
| Max. loan | $750,000 (min initial draw $15,000; higher in TX/AR) |
| Max. CLTV | Up to 85% CLTV |
| States | 49 states + D.C. (not available in HI); variable-rate option excluded in several states |
| Best for | Fast, fully-online fixed-rate HELOCs with funding in days |
Figure HELOC pros and cons
Pros
- Fully online application with funding in as few as five days
- Fixed rate on the initial balance and each draw; autopay rate discount
Cons
- Must draw 100% of the line at closing; short redraw period (3–5 years)
- Origination fee up to 4.99% of the loan amount
Who a Figure HELOC is best for
A Figure HELOC is best for fast, fully-online fixed-rate helocs with funding in days. To qualify you'll generally need a credit score around 640 (720 in OK), a debt-to-income ratio of 43% or less, and enough equity to keep your combined loan-to-value at or below Up to 85% CLTV. Strengthen any one of those before applying and you'll unlock better pricing — see our HELOC requirements guide and how to get the best HELOC rate.
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How this review was made (methodology)
Details above are compiled from public sources, including Figure's own published disclosures and third-party reviewers, and were accurate as of 2026-06-28. Rates are variable and change frequently. Ratings shown are third-party scores, attributed to their source — they are not King of HELOC's own ratings, and we don't publish invented ratings, rates, or customer reviews. Always confirm current terms on the lender's site before applying.
How we make money. King of HELOC is a marketing and lead-generation service, not a lender, and is not affiliated with or endorsed by Figure. We may be compensated by lending partners when you're matched with them, which can affect placement but never our editorial standards or the data on this page. All lines are subject to credit approval, income verification, and property valuation.
Compare other HELOC lenders
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Frequently asked questions
Is Figure a good HELOC lender?
Figure is best for fast, fully-online fixed-rate helocs with funding in days. Independent reviewers rate it 4.5/5 (NerdWallet). As with any HELOC, whether it's the best choice depends on your credit, equity, and state — compare it against at least two other lenders before deciding.
What credit score do you need for a Figure HELOC?
Figure typically looks for a credit score of 640 (720 in OK) or higher. The lowest HELOC rates generally go to borrowers with 740+ credit, a low debt-to-income ratio, and a combined loan-to-value at or below Up to 85% CLTV.
How much can you borrow with a Figure HELOC?
Figure lends up to $750,000 (min initial draw $15,000; higher in TX/AR) on a HELOC, subject to a maximum combined loan-to-value of Up to 85% CLTV of your home's value minus what you still owe on your mortgage.
What states does Figure offer HELOCs in?
49 states + D.C. (not available in HI); variable-rate option excluded in several states Availability and terms can change, so confirm on Figure's site before applying.