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Figure Mortgage: Review

  1,146 Reviews on Trustpilot

Figure Mortgage Snapshot

Figure is an online lender founded in 2018 in San Francisco, California.

Figure Mortgage is a direct lending company offering two unique products: Figure Mortgage Refinance and Figure Home Equity Line.

The company also offers student loan refinancing. The platform is powered by advanced technology to streamline the loan application process. The entire process is 100% online.

The company prides itself on quick pre-qualification and closing times through efficient technology.

Figure Mortgage Spotlight

Best For
Anyone wanting to renovate or make a large purchase

Marketplace or Direct Lender
Direct lender

Loan Types
Home Refinance, Home Purchase

Loan Features
Home Equity, jumbo, HELOC

Repayment Terms
5, 10, 15, 30 years (varies by loan type)


Figure Mortgage is unique in that it has a speedy, completely digital online loan approval process. They’re also known for their dedication to transparency. Borrowers rave about their zero fee policy (besides the origination fee). Plus, they allow borrowers to make additional draws on loans.

In terms of refinancing, Figure allows customers to refinance their mortgage in order to grab hold of low interest rates. Plus, they can use these to cash-out, enabling them to refinance their home for better rates.

Loan Types

Figure offers a variety of loan types and loan features including:

  • Approval within 5 minutes
  • Funding in as little as 5 days
  • HELOC and Mortgage Refinance Loans
  • Eligibility on single-family residences and townhouses

Figure lets you borrow anywhere from $15,000 to $250,000 with a single origination fee. You can also get refinancing up to $500,000, although your maximum loan amount will vary based on your credit score and the value of your home.

With HELOC loans, Figure will get you the full value of your loan in a single lump sum once you’re approved for the loan (with the origination fee subtracted). Plus, once you’ve started paying off your loan, you’re able to make additional draws.

The additional draws can’t exceed 20% of your total loan amount. It must be at least $500 and made within 2-5 years of the loan term origination date.

Mortgage Loan Rates & Terms

Figure stands out from other mortgage lenders for their low fees. THey only charge a one time origination fee which can range from 0% to 4.99% of the initial amount drawn. There aren’t any other prepayment fees or hidden fees.

The fee structure is comparable to other lenders like Quicken Loans and Freedom Mortgage.

In terms of repayment, Figure Mortgage only offers fixed-rate loans. You can choose between terms of 5, 10, 15, or 30 year loans. They don’t offer variable rate loans.

Figure Mortgage Pros

  • Fully transparent lender
  • No prepayment fees
  • Fast and completely digital application
  • Excellent rating on TrustPilot

Figure Mortgage Cons

  • Only available in 42 states (32 for refinancing)
  • Making additional draws can only be down within 2-5 years
  • Application process can be a bit confusing
  • No variable rate loans

Figure Mortgage Application Process

Figure’s loan application and approval process can be done completely online. It generally takes about 5 minutes to complete the whole application. Plus, most applicants are pre-approved immediately. Then, it can take as little as five days to secure funding.

Here are the application steps:

1. Complete an initial online application for pre-qualification. You’ll be asked for your:

  • Name, email, address, date of birth
  • Address and type of property
  • Purpose of your loan
  • Household income (annual or monthly)

2. Figure will then run a soft-credit check

Your property value will be assessed using Figure’s advanced algorithm. You’ll then receive an email almost immediately to tell you if you’ve been pre-approved. They will also tell you how much you can borrow and estimated rates and terms.

3. Finish the full application process.

You’ll then be asked for:

  • Valid photo ID
  • Bank account information
  • Proof of income

4. Then, you’ll need to attend an online video session with Figure’s unique eNotary service.

You’ll be asked identity-verifying questions to complete your loan contract.

5. Then you’ll receive your funds in your bank account a few days later.

Customer Support

Figure offers a number of support options for borrowers and prospective borrowers.

You can get in touch with their support team by email at help@figure.com or loans@figure.com.

You can also access their Notary service and telephone support Monday to Saturday from 6 AM to 6 PM PT.

Final Thoughts on Figure Mortgage

So, should you use Figure Mortgage to access a home mortgage loan?

Overall, Figure is set apart for its fast, and completely digital online approval process. They’re also known for their customer support and dedication to transparency.

Since they charge zero fees (apart from a potential origination fee), it’s one of the best options for those looking to get an affordable mortgage loan.

While they offer a number of loans and features, they don’t offer variable rate mortgages, which is a downside for some.

However, they do offer great refinancing loans with low interest rates. This makes Figure a great option for those looking to refinance their mortgage. It’s also a great option for homeowners who want to access their equity as cash in a lump sum to pay for a large purchase, renovation, or even college fees.


How does Figure offer pre-qualifications so quickly?
Figure Mortgages uses advanced algorithms to assess borrowers’ applications quickly and accurately.
How can you check your APR rates?
After completing a short form, including your personal information, property details, and email address, Figure will send you a custom APR.
How high does your credit rating need to be to secure a loan with Figure?
Figure has a minimum credit score requirement of 640. However, the higher your credit rating is, the more you can borrow. Plus, you’ll likely be offered much better terms the higher your score is.

Figure Customer Testimonials

Excellent   1,146 Reviews



09 April, 2021


This was the easiest experience I have…

This was the easiest experience I have ever had going through the loan process.


09 April, 2021


I truly enjoyed their service.

I truly enjoyed their service.


08 April, 2021


Insufficient collateral

My application was declined b/c of insufficient collateral. My collateral was my home, valued at $580K, completely paid off. I just could not believe this. Now Figure has all my information (including my SSN) and I feel I've been duped. Then I went to Rocket Mortgage and got a loan right away. Thank goodness there are alternatives.


06 April, 2021


Easy Peasy!

We just put in a pool and spa. We needed some re-landscaping which we had budgeted for. However, our bid came in $20,000 over our cushion so we decided to try Figure and take out a HELOC. We were approved immediately and it was about 6 days (including the weekend) total until funds were deposited into our account. Every step was easy peasy. Even the signing - 3 signature pages total. Awesome rates as well! I have been a Realtor for 20 years so obviously have a stable of financial professionals. Nothing compares to this. I am really impressed and don’t have a single complaint. Will definitely revisit if there is a need in the future. Thank you Figure for making this such a positive, easy experience.


06 April, 2021


Been dealing with bank for three weeks

Been dealing with bank for three weeks. Tried this out, got it done in 3 hours. Took about 4 days to get funded. I’m cancelling the bank process. Awesome service


06 April, 2021


Figure is the most streamlined home process

Figure is the most streamlined home equity loan process we have ever experienced. It was all on-line, yet it also felt very secure and reliable. Everything is explained in language that is clear and easy to understand. The verification process took less than a day and we knew we were funded the next day. From beginning to end they were responsive to our inquiries without delay, the process was professional, efficient, and stress-free!


05 April, 2021


The process for a HELOC through Figure…

The process for a HELOC through Figure was incredibly easy and so fast! Whenever I had a question I was able to reach a friendly, helpful representative who gave me the information I needed. Would highly recommend!


02 April, 2021


Figure was awesome

Figure was awesome. Within a day or 2 I was approved and even did the final notary online on a saturday evening! They work weekends til 8pm central time, which is unheard of. My money was funded within 5 days. Good work.


02 April, 2021


The process for obtaining a home equity loan

The process for obtaining a home equity loan was very easy and fast. Highly knowledgeable and pleasant staff.


02 April, 2021


They were excellent and very patient…

They were excellent and very patient with me


02 April, 2021


I can’t believe how easy the process…

I can’t believe how easy the process was. Customer service and the e-notary were excellent. Thank you


02 April, 2021


Great company

Great company, easy to work with. Fast funding. Very simple application. Staff very helpful. Very good experience. Love it, try this company first, the best


01 April, 2021


First Time Home Equity Loan Applicant

This is my first time doing a Home Equity Loan and I will firstly say that from my first gaze on the FIGURE website, it was clear to me that this company knew what they were doing. It is in simple language for the consume like me that knows nothing about loans to understand. Even the chat box , I had professional and friendly team members explain the process and what was needed for applying. When it got to the notary part of the process, Tim was so helpful and made sure my Notary person was in their system for date and time of in person signing, and within 10 days I got my loan .I would highly recommend FIGURE to anyone that is in need of FIGURE's services. Truly James


31 March, 2021


Very professional and efficient work

Very professional and efficient work. I had a pleasant experience with Figure.


31 March, 2021


You’re truly unbelievable

You’re truly unbelievable. Since I started applying for loans I’ve never had experience like this. The application was simple, super fast as well as funding. First I was hesitant to apply for home equity loan from this company because I was not really sure if they can really do my loan so fast as advertised. I got funded in just like a week after my application was completed. It took only few minutes to complete my application. Thanks again to all their staff for being professional. So far I consider “Figure “ to be the best financing institution. It’s so modern.


30 March, 2021


Amazing how easy and fast

Amazing how easy and fast. Every step was user friendly and simple.


27 March, 2021


The best process I've ever had in…

The best process I've ever had in obtaining a loan!


26 March, 2021


Excellent Service

Quick, straightforward, good heloc rates, all online


26 March, 2021


I've been wanting to comment on FIGURE

I've been wanting to comment on FIGURE, because I so appreciate the courteous people with whom in this process I have spoken. Everyone has been supportive and the process was extremely easy to follow and complete. When I started with your company, I came across some negative reviews, but I decided I would see what your company was like, anyway, and I can tell you I have no idea why anyone would ever write a negative review - based on the experience I've had with your company. We had a death in our family and were not able to complete our application process. Your company graciously gave me more time to complete the application when I had run out of time to do so. FIGURE people, thank you so much for helping us with this loan. I cannot be more complimentary of your excellent company. Thank you...God bless...


23 March, 2021


Simple fast service

Simple, courteous and fast service. Best I have ever dealt with and I work at one of the top mortgage banks. Banks can’t compete with Figure.


20 March, 2021


Improve your life

Figure played an important role in improving my financial picture by allowing me to swap high interest debt with low interest debt. In a matter of just a few hours, my debt payments dropped by $4K per month. Figure made this so easy and I really appreciate their people and their process.


19 March, 2021



Simple, and quick I am impressed at how easy the process was Figure is a game changer


18 March, 2021


Simple/Easy Process

I have to say the customer service team is over the top Stellar!! Before I applied for a loan I called to ask questions. I wish I knew the young ladies name, because she took the time to explain exactly how the process works and gave me a little history on the company. To get a loan within 5 days just did Not seem realistic, however it is. Everyone I spoke with was super friendly and knowledgeable. There is one young lady in particular Sadie. Who was so patient, courteous and kind. I am not good with computers and she took the time to help me set up my camera and microphone on my computer, so I could do the e-notary. I am so shocked she did not get irritated with me as I was clueless and she walked me through it and maintained a calm demeanor. I got it done and then did my last step. I waited my 3 day period in case I wanted to change my mind. Next day my loan was deposited into my account. I do believe banks could take a lesson from Figure on how to get the job done.


18 March, 2021


Perfect from beginning to finish made…

Perfect from beginning to finish made each step easy and always had timely answers on everything Thank you you were a pleasure to work with Thanks Michael Woods


18 March, 2021


Rip Off

I still can't imagine how this company is operating as a serious financial institution in the US. 8 months ago I got a loan of $100K, received only $96K (minus fees etc). My monthly payment was about $760 or $6,000 in 8 months. Today I paid off the loan. Guess how much?? $99,300. Hence, I received $96K and paid back $105K after 8 months... looks like rip off in my opinion


17 March, 2021


FIGURE lock my rate

FIGURE lock my rate, everything was okay before they get all info. After that they just start to changing the numbers. In my opinion this is worse financing company. Who need inquiries on their credit report, just go with FIGURE, they will do everything to destroy you. I can show a proof what they do to me.


17 March, 2021


Absolutely THE Best lending…

Absolutely THE Best lending institution, in my opinion. The process was quick and easy and every customer service rep that I spoke with was helpful and accommodating.


17 March, 2021


Great customer service

Great customer service. Had a bit of trouble with internet service on notary but they were great. Over all things went smooth.


17 March, 2021


Very satisfied. Quick, Easy, Painless.

This was the easiest process of any loan I have ever applied for. It was an hour and a half from the beginning to being approved. Even the notary was online. Money is already in my account just a few days later. VERY SATISFIED and recommend them highly. Life changing for me. I am thrilled. My house is now working for me! Got rid of high interest credit cards and will be able to stay out of debt.


16 March, 2021


very easy fast process

very easy fast process


14 March, 2021


Easy pleasant experience

Easy pleasant experience. Great rates and customer service!!


13 March, 2021


Great HELOC Experience !!

If you are looking for a home equity line of credit I would highly recommend Figure Lending. The application process was fast and simple. Everything was completed on line. I uploaded a few documents and with the help of Figures customer service staff I was approved and funded very quickly.It was an absolute pleasure working with every one. It was truly the easiest loan process I have ever gone through. Thank you Figure Lending and all the wonderful people working for you. LG


12 March, 2021


This was a great process

This was a great process! The online application process was very easy and fast. The communication through email throughout was great. After we completed the eNotary session, we got our money deposited into our account just four days later!


12 March, 2021


Excellent customer service

Excellent customer service. Very positive attitude of representatives.


12 March, 2021


The customer service provided is AAA+

The customer service provided by your associates was top notch. I was pleasantly surprised and much appreciated their patience as they walked me thru some issues I had on my computer. All in all the process was not as cumbersome as mtge and heloc applications that I have experienced years ago.


11 March, 2021


Is this a joke? Are these reviews even real?

I literally only tried Figure due to all the great reviews/ ratings here. Well, within 45 seconds of using their website, and “after careful consideration” (those exact words), my application was declined due to “insufficient collateral” because, according to their phone agent, “the system couldn’t find the address” of my home. Therefore, a mortgage-free entirely paid-off $340K condo is “insufficient collateral.” And there is absolutely no way around this system; there is no way to manually apply with ample available documentation that the home does indeed exist. So now Figure has my name, SS#, address, phone number, and date of birth, and they did exactly ZERO for me except waste my time and energy reading all these blatantly (fake?) BS reviews in the first place. This is a scam. BEWARE. **Edited to respond to company’s reply: I did call Figure, as my review states. So now you want me to call back to give you more confidential information, in order to receive the same “details” about how this so-called “revolutionary” automated system cannot be manually bypassed? From your reply, I gather situations like mine happen often enough to “cause frustration,” so why are you collecting so much sensitive information in the first place when all you need initially is an address? Particularly since the automated system is so blatantly faulty, if not downright fraudulent/ predatory. I have since searched the history of Figure and have found enough information to warrant plenty of concern about Figure harvesting such data, and my warning stands.


11 March, 2021


Fast and efficient

Fast and efficient! Which is what everyone wants when getting a loan or line of credit.


11 March, 2021


Excellent customer service and…

Excellent customer service and execution. The only minor difficulty was connecting my wife as a separate co-signer.


10 March, 2021


Great service so far

Great service so far. We haven't gotten the deposit yet but so far so good. Very simple process.


09 March, 2021


Was skeptical about the speed and ease…

Was skeptical about the speed and ease of obtaining a HELOC but Figure was both fast and easy. Everything was done on line with minimum requirements for verification or additional information from me. Very impressive lending process.


09 March, 2021


Figure was there for me when I needed…

Figure was there for me when I needed them. The process was simple, easy, and fast. The rates were reasonable and competitive and the communication was excellent. I would recommend this organization to any and everyone. Thanks Figure!


09 March, 2021


Excellent experience.

Everyone I dealt with was efficient, professional, and pleasant. The entire process was much faster and easier than I expected.


08 March, 2021


I'm very impressed with how easy and…

I'm very impressed with how easy and convenient the process is and the amazing customer service at each touch point. I'm one happy customer!


08 March, 2021


three notary appointments later

I had a notary come to my house on 2-14-21. After I signed my paper a week later, I was notified that my notary didn't send everything that I needed for my loan. I received a email from figure saying that they booked another notary appointment but I didn't need it, and it was to extend the date on my loan paperwork. The next week, I was notified that I would need another notary appointment. After my third notary appointment my loan was finally processed. I ended up missing my deadline with the contractor I hired to perform the home improvements on my property, because I had no funds. The contractor was booked up for the rest of the month and I'm still awaiting a contractor. I was told after speaking with a figure representative, that they would send me a amazon gift card for my experience with their company. I plan on using Figure again in the future. I just didn't understand why my loan took so long.


08 March, 2021


This was the fastest and easiest…

This was the fastest and easiest process that I have ever done. The process was very simple to follow and the customer service is excellent.


07 March, 2021


The process was very easy and seamless

The process was very easy and seamless


06 March, 2021


Rate advertised isn’t what is applied

Rate advertised isn’t what is applied. I was not able to withdraw entire amount. Closing account.


05 March, 2021


Use Figure if you need to tap your home equity.

Figure provide a hassle-free way to tap into your home equity. The process was quick and painless and funding happened in 6 calendar days. Good explanation of what you're getting into the whole way and excellent options on how you want to repay your loan and competitive rates.


05 March, 2021


One of the easiest loan processes I…

One of the easiest loan processes I have ever done. Every one all the way down to doing the signing with Travis went exceptional. I would and will refer Figure over all my social media platforms as well as word of mouth.. Appreciate the help with getting my loan completed in such a professional manner.


04 March, 2021


Process was super easy and fast

Process was super easy and fast. Got the mailing and came in handy to fix up my home. People were great and very helpful.






Assurance (NMLS #1912050) is not a lender. The lenders determine whether you will be approved and the rate you will be offered. There is no guarantee that you will be approved for credit or that you will qualify for the advertised rates, fees or terms shown. The lenders’ credit decisions may vary based upon your loan request, your particular financial situation and other criteria determined by the lenders. All rates, fees and terms are not guaranteed and may change.

Annual Percentage Rate (APR) calculation and fees are as of 2021-04-11 based on information previously provided by you, the customer, including refinance period, credit score, state, mortgage balance, and property value.

The offers that appear on this site are from third party advertisers from which the operator of this site receives compensation. This compensation determines which offers appear on this site and the order in which they appear. The order is determined at our own discretion and should not be considered an endorsement of any specific offer. We strive to provide a wide array of offers, but the offers shown do not represent all financial services companies or products. The information and vendors which appear on this site are subject to change at any time.

The operator of this website, Assurance IQ, LLC, is a wholly owned subsidiary of Prudential Financial, Inc.

Rate of 1.875%, Annual Percentage Rate (APR) of 1.928% and $1295 fees are for a 15 year fixed refinance loan available through Farmers Bank & Trust (NMLS#613839) based on Excellent Credit Score, Townhouse, Primary Residence, in the state of TX, with an anticipated mortgage balance of $490,000, and property value of $600,000 as of 12/04/2020.

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