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Figure Mortgage: Review

  1,242 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   1,242 Reviews



12 June, 2021


Excellent work!

Excellent work!


12 June, 2021


Just days ago I was worried that I…

Just days ago I was worried that I might not get the money I was looking for. I never thought I would get as much as I did this fast they truly are amazing. This is where I'll be coming to from now on.


12 June, 2021


One of the best financial company I’ve…

One of the best financial company I’ve worked with. Very helpful customer service when needed. I’m not the best at technology but they were so helpful talking me through the process. Very quick turnaround Highly recommend


11 June, 2021


Glad to have a platform to say…

Glad to have a platform to say Thankyou. This was by far the easiest process I have been a part of. We had a few questions throughout the loan process and every time we called, whoever we spoke with was very pleasant and courteous. Thankyou for all your help and great attitude. I’m glad we took the time to check your organization out😁


11 June, 2021


Great experience

Very Happy people that I dealt with which makes a difference in the overall experience. Great online application process. Overall great experience.


11 June, 2021


Staff is very professional and…

Staff is very professional and courteous on the phone.


11 June, 2021


Great Service

I would like to thank you for the assisting me through the process. Thank you


11 June, 2021


Beware of incompetency

Lol, I signed closing docs 9 days ago, they say they will void the loan in 5 days if they do not get their PCRA (drive by appraisal) completed. Its their responsibility to get their vendor to do the job. Loan was supposed to be funded days ago. Customer service is opaque and will not answer questions. If you want to waste your time, Figure.


10 June, 2021


Amazing customer support

Amazing customer support! After attempting two other traditional cash out REFIs that were riddled with obstacles and delays, figure lived up to their promise of quick closing. Thank you.


10 June, 2021



It was great experience with Figure lending. Timely funded my loan and quickly. Thanks


10 June, 2021


Needed a person loan to pay off some…

Needed a person loan to pay off some debt this company save my life. If I need a loan in the future defently will use this company.


10 June, 2021


this was the easiest line of equity to…

this was the easiest line of equity to take out it only took 6 days


09 June, 2021


Super convenient!

Super convenient! I recently applied for a home equity loan through Figure. The whole process was online and super easy. I had trouble connecting with the e-notary, and representatives from Figure reached out immediately to help walk me through some things that would help. I like that they have an app and communicate status throughout the process. I don't think it could have been any easier to apply for a home equity loan and get funding.


08 June, 2021


Great service!

Great service!


08 June, 2021


This process was quick and people there…

This process was quick and people there were extremely nice and helpful. Thank you for all your help.


04 June, 2021


Fast and easy process

Fast and easy process! Thanks!


03 June, 2021



Wow! As someone that works in the real estate industry, this process was superb. Simple, quick, and efficient. Customer support was always there to help and things were completed exactly as promised. Highly recommend!


03 June, 2021


Amazing Loan Process

Very fast and efficient ! Boom - it’s done . I have my loan and terms were great.


02 June, 2021


Beware! Payments never go down!

Yes, this is the fastest processing you’ve ever seen. But beware. This is not like any HELOC we have ever had. If you draw an amount you want as a line of credit and pay back -say- 80%, your payment never goes down. You can prepay 120k and they will still take their monthly draw. It is fully amortized like a 1st mortgage. Any additional draws, on now available credit, only make your monthly payment go up. Don’t get this! They want to seize you home when you can’t make a monthly payment and owe almost nothing.


01 June, 2021


Figure was able to process and approve my second mortgage in record time

Figure was able to process and approve my second mortgage in record time. Its employees were professional and efficient, yet remained courteous and personable at all times. I work as a prosecutor who investigates, and takes legal action against, corporations that mistreat consumers. If all corporations operated like Figure does, I would be unemployed. I highly recommend this company. Best regards, Dan W. Taliaferro


30 May, 2021


Easy, no pressure, trustworthy

We needed a quick loan. The process of getting it was pretty painless, setting up auto payments was seamless. I am a few years in to paying it off and the reports and reminders are minimal (which I far prefer) but secure and understandable. I have never at any point felt like I was being scammed or pressured into something I didn't want. If I need another loan later, I will go with Figure again.


28 May, 2021


Customer Focused and Fast!

Very fast and secure application! Probably the best customer service I have ever had! I had a lot of questions and they were more than happy to answer.


28 May, 2021



the process was simple, easy, and convenient. I would consider doing all my financial loan through Figure.


27 May, 2021


Concept is fantastic… poor execution

Concept is fantastic: computer model …. Etc …..Sadly too many gaps or intentionally setup to undervalue properties!!!! Figure uses 3rd party Valuation and deed updates. Very simple example…. In NJ market is on fire. Valuation I was presented was based on comps of roughly 2 years old. Operationally support member use words very loosely. For example number of times I was told “you have to own your property for 90 days.” In the real world ownership begins from the day you close and you are handed over the keys. In Figures language that actually means…. The town/county has to have your paper work for deed updated over 90 days ago. So for example if town/county is delayed due to covid figures will have till county/town has info updated for 90 days. But wait!!! It gets worse!!!! Even if it’s been 90 days, it won’t matter because as mentioned in the beginning, Figures uses third party at unknown frequency to get updates for ownership of properties. Very unfortunate that logistically it’s setup for failure. Fantastic concept need better execution!!!! T


26 May, 2021


Excellent product and great company to…

Excellent product and great company to work with!


26 May, 2021



It's ALL GOOD. Really quick n easy.


25 May, 2021


Figure is just what the people need

Figure is just what the people need, a smooth online system of loan programs. great website and customer support. I have used them for several loans lately and the process is very quick and easy.


25 May, 2021


This was a very easy experience

This was a very easy experience. I called both banks and the credit union that I do business with and figure was so much easier and loaned us way more money!


22 May, 2021


Great customer service and good ARP…

Great customer service and good ARP RATES.. ( paying off my high credit cards APR) I’m impressed so far ..


21 May, 2021


Great service & turnaround !!

Great service & turnaround by all of the staff involved. Seamless process.


20 May, 2021


I wanted to really like Figure, maybe you will

I wanted to really like Figure. I think automated systems are the future and really wanted to experience the ease of using it for my HELOC. Unfortunately, they only look at your adjusted income from your taxes. This means income from a rental property won’t be taken into account, only the profit from a rental (not total income). This makes it extremely difficult to get a loan when your adjusted income only appears to be your profit margin and not the fact that the rentals mortgage is completely covered by a renter. I imagine with less difficult requests, this lender could be stellar. But in my case they didn’t offer much help since they won’t manually review documents.


20 May, 2021


Lighting fast application process…

Lighting fast application process requiring a fraction of the paperwork and friction that brick and mortar lenders require. Had an approval in like 10 minutes! Even though the electronic value assessment used for the subject property was very low, I’m extremely pleased with the service. Very innovative. Customer service folks were outstanding as well, wait times low and didn’t have to enter a ton of annoying prompts to speak with someone either. Nice service!


19 May, 2021


Quick and easy application process

Quick and easy application process. I was waiting weeks to hear back from my bank on my HELOC application. Figure took 1 day for approval. THANK YOU!


19 May, 2021



**Update June 1, 2021** As per Figure the payment was sent to Home Point and was applied to my loan 1 month and 2 days after the loan was transferred. Jerrod, Figure Supervisor, advised that they have no control over how Home Point applies payments and I would have to contact Home Point directly to resolve the posted payment date. Figure has taken no accountability for the mishandling and misappropriation of funds. I highly encourage anyone who is looking to refinance to stay clear of Figure! Figure accepted payment for my loan on April 2, 2021 then sold my Loan to Home Point and never sent the money to Home Point, and refuses to refund me the money directly. Was told on May 4, 2021 the funds would be sent to Home Point. To date, this has not happened. Figure Lending is withholding funds while I am accruing more interest than I should be with Home Point. Beware before you move forward with refinancing with Figure!


19 May, 2021


The processing of documents and the…

The processing of documents and the technology being used are great. Thank you for an excellent service. Juliana V. Erkins


18 May, 2021


So incredibly easy and quick

So incredibly easy and quick. All online. No incessant phone calls and spam.


18 May, 2021


This company is amazing

This company is amazing. Great communication and timely replies. My own bank wasn't helpful at all. Figure.com did everything my bank refused to do for us. My husband and I couldn't be happier. Thank you Figure.com!!!


18 May, 2021


After struggling with another bank for…

After struggling with another bank for months I turned to figure, I was thrilled that the loan was approved and I received the money in a week, very professional and easy to work with.


18 May, 2021


Quick and easy

I applied for a home equity loan after receiving an offer in the mail. Easiest process ever-total time from application to funds in my account was 10 days. Rates were competitive and everything was done online. My county required an in person signing with a notary and Figure set that up for me very quickly, I mean within a day! I had never heard of figure but am very impressed by them now!


18 May, 2021



Fast, easy great staff and overall the best loan company I've worked with.


17 May, 2021


Super super easy, great rates and extremely streamlined

Figure has made it so easy to do a heloc, the process couldn't be easier, it was so streamlined it was crazy, I had to submit just a few pieces of ID and that was about it, couldn't thank them enough for helping me out in paying off some bills


15 May, 2021


Quick painless easy process & they…

Quick painless easy process & they answered all of my questions. Excellent service!!!


14 May, 2021


I would just like to say that this was…

I would just like to say that this was the easiest process I've even dealt with. From the day we first applied to the funds being available was only 7 days. The payment is exactly what they said it was going to be. If I even need a loan in the future, this is where I will go. Cannot recommend Figure enough.


13 May, 2021


Fast approval and professional service…

Fast approval and professional service All the application processes was online Money was deposited to my bank as they told me at the beginning Beyond expectations service I really recommend everyone that need help with finances to use figure lending Thank you


12 May, 2021


Very quick process and no hassle with…

Very quick process and no hassle with appraisal at all. Everything done via online. Plus, they are working 7 days a week so there is a ton of time available for either a quick chat or a call. Employees are pleasant and helpful.


11 May, 2021


Fantastic Service

If you don’t mind paying a little for great service, this is the best loan experience I have ever had. The technology makes the loan application, verifications and signing super quick and easy. I wish all my loans could be this effortless. I’m a very satisfied customer.


09 May, 2021


Thoroughly impressed

Thoroughly impressed. I was considering a HELOC and had received a mailer from Figure. I decided to include them as a financial institution to consider. After discussing the terms with other banks/lenders, I decided to apply with Figure to see what they could offer. I was surprised how easy and detailed the entire process was. And amazed how everything could be done online in a short period of time. Including identity verification and income verification. Honestly didn't know this possible. I was able to get a great rate on a $35K HELOC for debt consolidation, and complete the entire process in a couple of hours on a Saturday afternoon. I know this sounds like a fake testimonial, but it's legit. I'm impressed and would recommend Figure to a friend or family member.


08 May, 2021


What an absolute horrible platform

What an absolute horrible platform. They state they figure income off 1 checking account, so if you're married and have separate accounts you're screwed there. Here's the worst part though....after you get past their identity screen there's no button to move you forward. None, so you're stuck. Also, I asked if I could email in our retirement savings. Nope, you can't do that either. I tried speaking with customer service and here's what they said "In order to build a fully automated system we require levels of security that does not work with anybody". Their platform was built by monkees.


08 May, 2021



Great job! It was a very easy process. I was surprised at how quickly it was funded. I highly recommend FIGURE!


08 May, 2021


great job thanks

great job thanks






Rate of 1.75%, Annual Percentage Rate (APR) of 1.808% and $0 fees are for a 15 year fixed refinance loan available through Better Mortgage Corporation (NMLS#330511) based on Excellent Credit Score, Single Family Home, Primary Residence, in the state of CO, with an anticipated mortgage balance of $540,000, and property value of $600,000 as of 04/23/2021.

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