Apply for Figure Loans Online in Minutes

How the Figure Loans application works

The lender application process is designed to be completed online from start to finish. Here is the step-by-step sequence a typical borrower follows:

1. Pre-qualify with a soft credit pull

   Enter basic information including your estimated home value, remaining mortgage balance, and credit score range. The lender pre-qualification uses a soft credit inquiry that does not affect your credit score. You see your estimated rate and maximum HELOC amount in minutes.

2. Complete the full Figure Loans application

   If the pre-qualified the lender terms work for you, proceed to the full application. This stage triggers a hard credit pull. You will be asked to verify identity, income, and property details.

3. Submit verification documents

   The lender typically requests pay stubs or tax returns for income verification, a government-issued ID, and homeowner's insurance declarations. Documents upload directly inside the service applicant portal.

4. Automated valuation and underwriting

   For most loans under $400,000, an automated valuation model determines your home's value — no in-person appraiser visit needed. The product underwriting typically returns a decision within a few business days.

5. Sign closing documents with eNotary

   In supported states, loans close with a remote online notarization session. The entire closing can take 15 to 30 minutes from your laptop or mobile device.

6. Receive your Figure Loans funds

   After the rescission period required by federal law, it disburse the full approved loan amount to your bank account by ACH. Many borrowers receive funds in as few as five business days from application start.

What you need before you apply for Figure Loans

Having these documents and details ready speeds up the it application:

• Valid government-issued photo ID (driver's license, state ID, or passport)
• Social Security number for credit verification
• Most recent two pay stubs or last two years of tax returns if self-employed
• Property address and estimated home value
• Current mortgage statement showing remaining balance
• Homeowner's insurance declaration page
• Bank account information for loan disbursement

Figure Loans eligibility checklist

Confirm you meet the baseline eligibility before starting the application:

• Minimum credit score of 600
• Debt-to-income ratio below 50%
• Primary, secondary, or investment residential property (not commercial, not manufactured, not co-op)
• Sufficient home equity to meet the 85% maximum combined loan-to-value
• Property located in one of the 49 eligible states or DC
• Minimum loan amount of $15,000

What happens after you submit your Figure Loans application

After submission, the company sends an automated confirmation email with your application reference number. Within one to two business days, the lender underwriting team completes an initial review. You may be contacted for additional documentation or clarification. Once underwriting is complete, you receive a conditional approval and are scheduled for closing.

The service provides a dedicated customer service line and secure messaging inside the applicant portal for status checks throughout the process.

Common reasons applications are delayed or declined

• Not enough equity. Your mortgage plus the new line cannot exceed 85% of your home's value.
• High debt-to-income. Total monthly debt payments, including the new HELOC, must stay under about 50% of gross income.
• Ineligible property. Manufactured homes, co-ops, multi-unit properties, and Hawaii properties are not eligible.
• Income that is hard to verify. Self-employed applicants should have two years of tax returns ready.
• Title issues. Unreleased liens or a name mismatch on the deed slow down closing.

Tips to improve your chances

• Pay down credit card balances before applying to lower your utilization and DTI.
• Request only the amount you need. A smaller line is easier to approve.
• Have documents ready as PDFs before you start.
• Add a qualified co-borrower who is on title if your income alone is borderline.

Check the full Figure Loans requirements and estimate your amount with the HELOC calculator before applying.

After closing: what to expect

1. Right to cancel. For a primary residence, federal law gives you three business days after signing to cancel. Funds are released after this period.
2. Funding. The full approved amount, minus the origination fee, is deposited to your bank account.
3. First payment. Your first statement shows the due date, usually about a month after funding. Enrolling in autopay may qualify you for a rate discount.
4. Redraws. As you repay principal, that amount can be borrowed again during the first five years. See how the full draw and redraw work.

Application FAQs