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Figure Review

Reviews 2,356
Figure
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Figure
Figure
Excellent
Reviews 2,356
Michael Graw
Feb. 21, 2024
3 min read
Michael Graw
Figure Summary
Figure offers personal loans up to $50,000 with competitive interest rates and fast funding. The application process is entirely online and you can be approved and have cash in your account by the next business day. Figure requires relatively good credit, but borrowers can enjoy competitive interest rates.

Pros

  • Fully online application
  • Get money in as little as the next business day
  • Autopay discount available

Cons

  • Minimum 680 credit score
  • Up to 4.99% loan origination fee

Figure at a glance

8.4
Editorial score

Variety of loan types

Offers all loan types
10.0

Online experience

Good online resources, but no access to rates
8.0

Customer services and support

Multiple ways of reaching lender, wide range of hours
8.0

Loan amount range

Loan amount up to $50K
8.0

Repayment flexibility

Loan terms up to 60 months
8.0

Figure Figure View Rates

Suitable For?

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.

Loan Features 

Figure offers unsecured personal loans, home equity lines of credit, and mortgage refinancing.

Highlights:

  • Apply entirely online
  • Customer support available 6 days a week
  • Personal loans available with APRs ranging from 8.50% - 16.70% (with autopay)

The Application Process

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.

Loan Terms 

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.

Privacy & Security

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.

Help & Support

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

How Figure Compares


figure
sofi
APR
8.50% - 16.70% (with autopay)
8.99% - 29.99% (with all discounts)
Minimum credit scoreFair +
Good +
Loan amount$5,000-$50,000$5,000-$100,000
Loan term60-360 months
24-84 months
Suitable forFully online applicationLarge 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. 

FAQs

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.

Summary

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.

Physical Address

Figure

650 California Street, Suite 2700

San Francisco, CA 94108

Figure Figure View Rates

Disclaimers

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.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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Trustpilot reviews
See what some customers are saying about Figure
Excellent • Reviews 2,356
on
Excellent
87%
Great
3%
Average
1%
Poor
1%
Bad
8%
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
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AO
Aaron Osborne
3 days ago
Everything was very easy to do online…
Everything was very easy to do online they walk you through step by step and closed quickly and received are funds fast highly recommend
NS
N Sharma
3 days ago
Finally a better way for a HELOC! Be done with the banks!
If you value your time, use Figure. If you value a crisp and clean process built with modern day technology, use Figure. The whole effort to obtain a HELOC for me was under two hours. 15 minutes to answer a series of questions from my phone and one hour in total to upload documents and use my webcam to attest the note agreement with an online notary. How progressive!! When I asked my current HELOC bank to update my unused line of credit they said I have to go through a whole new process from scratch. Two weeks later and a barrage of more questions and evidence they eventually burned through my patience. Long live Figure.com. I pray no bank buys them out. I will eventually cancel my current stodgy bank and have Figure replace them when I get chance.
SC
Scott Casella
3 days ago
Very easy
Very easy, fast.
AH
Alan Hart
4 days ago
The loan process was easy
The loan process was easy, and the waiting period was as predicted.
JS
Jonathan Swanson
4 days ago
I was in debt after the pandemic and…
I was in debt after the pandemic and never fully recovered. Figure helped me so much and I very grateful.
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