Offer your customers a way to finance their purchase with a HELOC
Partner Program
Figure works with a variety of business types to help them provide their customers a fast and easy way to unlock cash with lower rates compared to personal loans and credit cards.4navigates to numbered disclaimer
Merchant Partnership
Contractors and other merchants can offer their customers an incredible HELOC product, with long terms and high loan amounts, without paying dealer fees.
How it works
- Merchant markets Figure's product as financing option for the project
- Figure disburses funds directly to the borrower
- Borrower can work directly with the merchant to set payment schedule
- In accordance with RESPA, no referral fee will be paid to Merchant.
| Figure | Partner | |
|---|---|---|
| Customer Acquisition | ||
| Technology | ||
| Underwriting / Pricing | ||
| Fulfillment | ||
| Sales to Investors | ||
| Originator | ||
| Servicing |
Provide customers with a lower-cost alternative to unsecured personal loans and credit cards
Improve the customer experience and drive more business by helping customers get fast access to cash
Retain customers who are looking to make additional purchases with your business, and gain visibility into their funding status
Figure's HELOC vs Personal Loan4navigates to numbered disclaimer
Homeowners have the ability to draw more cash at a potentially lower fixed rate using their home equity. The HELOC offers speed, ease, and simplicity, with up to 30-year terms, providing lower monthly payments on a longer duration loan.
| HELOC | Personal Loan | |
|---|---|---|
| Application | 100% online, see your rate instantly | Varies by lender |
| Fixed rate3navigates to numbered disclaimer | ||
| Interest rates | Likely lower | Likely higher |
| Terms | Up to 30 years | Up to 7 years |
| Overall monthly payment | May be lower | May be higher |
| Amount | Up to $400k1navigates to numbered disclaimer | Up to $100k |
| Prepayment penalty | None | Possible |
| Tax deductible | For home improvement | Not tax deductible |
Benefits for your customers
Get up to $400k1navigates to numbered disclaimer, with terms of 5, 10, 15, or 30 years, plus funding in as few as 5 days
Lower rates, compared to alternatives such as personal loans and credit cards4navigates to numbered disclaimer
100% online application, no appraisal/title, with e-Notary available in many locations
Start offering HELOCs to your customer base within weeks
We offer other partnership opportunities beyond Private Label for both licensed and non-licensed entities. Submit the form below to chat today!