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Figure offers low-interest personal loans to borrowers with a 680 credit score or better. Qualified borrowers can get rates ranging from 8.50% - 16.70% (with autopay) APR, which makes Figure a good option for borrowers seeking an unsecured personal loan. Figure also appeals to borrowers who want to apply for a loan entirely online.
Figure offers unsecured personal loans, home equity lines of credit, and mortgage refinancing.
Highlights:
Figure’s personal loan application process is entirely online. To get started, just enter basic information about yourself and how much you want to borrow. Figure will run a soft credit check, which doesn’t impact your credit score, and give you a pre-approved loan offer.
If you want to accept your loan offer, you can submit all of your documentation online. The whole application takes around 15 minutes to complete and you can receive funds in your account in as little as the next business day.
There are several requirements to qualify for a loan with Figure. All applicants must have a 680 credit score or higher, and a debt-to-income ratio under 40%. You must also have at least $1,000 in monthly cash flow to qualify for a 3-year term or at least $1,500 in cash flow to qualify for a 5-year term.
Figure offers personal loans ranging from $5,000 to $50,000. Depending on your credit score, income, and loan size, you’ll be offered a loan term from 60-360 months and an interest rate between 8.50% - 16.70% (with autopay) APR. If you set up automatic loan repayments from your bank account, Figure offers a 0.25% interest rate discount.
Note that Figure also charges a loan origination fee up to 4.99% depending on the size of your loan and your state regulations.
Figure secures your loan application and personal information with 256-bit AES encryption. The company also offers a privacy policy that details how your information is used.
Figure offers customer support by phone, email, and live chat from 6am-6pm Pacific Time, Monday to Saturday.
Phone: 1-(888)-819-6388
Email: loans@figure.com
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APR | 8.50% - 16.70% (with autopay) | 8.99% - 29.99% (with all discounts) |
| Minimum credit score | Fair + | Good + |
| Loan amount | $5,000-$50,000 | $5,000-$100,000 |
| Loan term | 60-360 months | 24-84 months |
| Suitable for | Fully online application | Large personal loans |
Figure competes closely with personal loan lenders like SoFi. Both lenders offer a low minimum interest rate and a low minimum loan size. Figure stands out as the only lender that offers an entirely online application.
Q. Can I choose my loan term?
A. Figure lets you choose a 60-360 months loan term in most cases and shows the interest rate for each term.
Q. Can I get help applying for a loan with Figure?
A. You can call Figure or use live chat 6 days a week to get help applying for a loan.
Q. Does Figure charge an origination fee?
A. Figure charges an origination fee of up to 4.99%, depending on the size of your loan and your state.
Q. Can I pay off my loan with Figure early?
A. Yes, you can pay off your Figure loan early with no prepayment penalty.
Figure offers personal loans with competitive interest rates and flexible term options. The application is entirely online and once approved, funds are put in your account in as little as the next day for a personal loan. If you need help with your loan, Figure’s customer support team is available 6 days a week.
Figure
650 California Street, Suite 2700
San Francisco, CA 94108
Available APRs range from 8.50% to 16.70%. The advertised APR includes a 0.25% discount for enrolling in autopay as well as the payment of a higher origination fee in exchange for a reduced interest rate, which is not available to all applicants or in all states. The lowest APRs are only available to the most qualified applicants, depending on credit profile and the state where the property is located, and those who also select five year loan terms; APRs will be higher for other applicants and those who select longer loan terms. As representative example, for a borrower with a 60% CLTV and a 740 credit score who is eligible for and chooses to pay a 4.99% origination fee in exchange for a reduced APR on a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 9.80%. The total loan amount would be $54,900. Alternatively, a borrower with the same credit profile who pays a 3.99% origination fee would have an APR of 10.1% and a total loan amount of $55,050. Your actual rate will depend on many factors such as your credit, combined loan-to-value ratio, loan term, occupancy status, and whether you are eligible for and choose to pay a higher origination fee in exchange for a lower rate. Rates change frequently so your exact APR will depend on the date you apply. APRs for home equity lines of credit do not include costs other than interest. Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone.
