Debt Consolidation made easy with Figure
Transform your finances and simplify your credit card debt with Figure's flexible Home Equity Line of Credit. Homeowners can tap equity for cash to consolidate debt into one easy payment AND lower overall interest payments.
100% online application
No in-person appraisal needed. Get approved in 5 minutes.
Option to redraw up to 100%
Lock in a lower rate with the option to redraw up to 100%.
Funding in as few as 5 days2navigates to numbered disclaimer
Borrow up to $400,0005navigates to numbered disclaimer with a one-time origination fee.6navigates to numbered disclaimer
Online video notary & support
Benefit from easy online notary services available in most locations, and expert support. We've got you covered.
Figure HELOC vs. Credit Cards
Using a HELOC to consolidate credit card debt allows you to consolidate payments into one monthly payment. PLUS, chances are a HELOC will offer a lower APR than your credit cards, which reduces interest costs and makes your payments more manageable.4navigates to numbered disclaimer
| Figure HELOC | Credit Cards*navigates to table disclaimer | |
|---|---|---|
| Average Rate | Lower | Higher |
| Term & Rate Type | 5, 10, 15, 30-year loan terms6navigates to numbered disclaimer | Variable |
| Max Amount | Up to $400,000 | Varies |
| Payments | One per month | Multiple per month |
When done right, debt consolidation can save you money and help you pay off your debt faster.
How much could I borrow with a HELOC?
Figure offers lines of credit up to $400k5navigates to numbered disclaimer
You'll need to have a good credit score, have a reliable payment history, have a low enough debt-to-income ratio (DTI), and have enough available equity in your home to qualify.
Adjust the chart below to create the custom amount that relates to you.
$800,000
Current Home Value
$550,000
Remaining Mortgage Amount
In this scenario, you could qualify to borrow up to
$90,000
Find my rate*Based on borrowing 80% of your current home value