Loans

Figure Home Equity Line of Credit: how to apply now!

Applying for the Figure Home Equity Line of Credit is quick and easy, and you can complete the process entirely online. Check out!

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Extra cash to fund a big project or investment in a few steps

Figure Home Equity Line of Credit
Figure Home Equity Line of Credit: how to apply now! Source: Stealth Capitalist

Are you considering to apply for a Figure Home Equity Line of Credit? Then this flexible borrowing option can be a great way to finance your home improvement projects!

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Borrow up to $400,000 fast! Simple and fast application!

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Thus, in this article, we’ll explain how to apply for a Figure Home Equity Line of Credit and compare it to a popular alternative, the SoFi Personal Loan. So, keep reading!

Apply online

To get started, all you need to do is visit our website and click on the “Find My Rate” button.

Further, you’ll be asked to complete a simple form with some basic information about yourself and your property.

Firstly, you’ll need to know the address of the property for which you are seeking a home equity line of credit.

Next, they’ll ask you to specify the type of property – whether it is your primary residence, a second home, or an investment property.

Also, this information will help them determine the terms of your home equity line of credit, as each type of property may have different eligibility requirements.

Requirements

To apply for a Figure Home Equity Line, there are a few requirements that you will need to meet. Firstly, you must be at least 18 years old and a legal resident of the United States.

You must also have a minimum credit score of 600, and your property must be located in one of the eligible states where Figure offers its services.

Apply on the app

Young happy woman employee or student sitting at desk using laptop.
Apply on the app. Source: Adobe Stock

While Figure doesn’t currently have a dedicated app for applying for a home equity line of credit, you can still easily apply on your mobile device through the web browser.

After all, this website is optimized for mobile so that you can complete the application process from anywhere at any time.

Figure Home Equity Line of Credit vs. SoFi Personal Loan: which one is the best for you?

If you’re considering a loan to fund a home improvement project or consolidate debt, consider the Figure Home Equity Line of Credit or a SoFi Personal Loan.

Both options have their advantages and disadvantages, and the choice ultimately depends on your specific financial situation.

Thus, one key difference between the two loans is their interest rates.

So if you have a good credit score, you may be able to qualify for a lower interest rate. Further, check out the comparison.

Figure Home Equity Line of CreditSoFi Personal Loan
APRNot disclosed;8.99 – 23.43% Variable;
Loan PurposeHome improvements, Fund a small business, Debt consolidation, Pay for college tuition, and more;Credit card consolidation, Home improvements, Relocation assistance, and Medical procedures;
Loan Amounts$15,000 to $400,000;$5,000 – $100,000;
Credit Needed 640 minimum;650 minimum;
Terms 5, 10, 15, or 30 years;2 to 7 years;
Origination Fee 4.99%; None;
Late Fee N/A; None;
Early Payoff Penalty N/A. None.

If you’re interested in learning more about how to apply for a SoFi personal loan, so be sure to check out their website for more information.

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SoFi Personal Loan: how to apply now!

Learn how to apply for the SoFi personal loan. No hidden fees. Borrow up to $100k and use it for multiple purposes. Read on to learn more.

About the author  /  Sabrina Paes

Content Writer, Copywriter, and Ghostwriter. Content marketing professional with 5 years of experience. Specialist in investment, finance, and technology niche. MBA in Marketing at the University of São Paulo, Brazil. Content Writer by Rock Content, and University of California (UCDAVIS).

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