Figure Review

ByMichael GrawFeb. 09, 2021

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In a Nutshell

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 within 2 business days. Figure requires relatively good credit, but borrowers can enjoy competitive interest rates.

pros

  • Fully online application
  • Get money in as little as 2 business days
  • Autopay discount available

cons

  • Minimum 680 credit score
  • Up to 5% loan origination fee

Figure at a Glance

Direct lender or marketplace?Direct lender
Loan typesPersonal loans
Loan amount$5,000 to $50,000
Repayment terms36-60 months
APR5.99% - 15.00%
Suitable forBorrowers with strong credit

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 5.99% - 15.00% 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 5.99% - 15.00%

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 1-2 business days.

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 36-60 months and an interest rate between 5.99% - 15.00% 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 5% 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
5.99% - 15.00%
5.99% - 18.85% (with AutoPay)
Minimum credit scoreGood +
Good +
Loan amount$5,000-$50,000$5,000-$100,000
Loan term36-60 mo.
24-84 mo.
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 36-60 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 5%, 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 lender allows you to apply for a loan entirely online and puts funds in your account in as little as 1-2 days. 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

Figure customer testimonials

ExcellentReviews 1,088
TrustPilot is the world’s most powerful review platform, free and open to all.
Excellent
90%
Great
3%
Average
1%
Poor
1%
Bad
5%
  • author
    Donna Simmonds
    17 hours ago
    The Second time around

    This is the second time we are using Figure to complete some home projects. The first time we applied the process was supposed easy and quick, outstanding customer service, we thought maybe it was just a one time experience. We paid the loan off early with no prepayment penalties. We decided to take a smaller one this time thinking ok this time will be somewhat harder due to rates so low and Covid. Again the process was quick and easy and customer service again was outstanding. I can't say enough good things about this company and will recommend Figure to all our friends and family!

    ...

  • author
    Michael Roberts
    17 hours ago
    From Start to finish The process has…

    From Start to finish The process has been very straight forward. I was able to easily read and understand their terms. If i had a question it was not hard to locate the answer to it. I would recommend to others whom are looking for a heloc. I also love the fact if i was unable to find an answer to my question. They have a toll free number i can call to get any answers i need.

    ...

  • author
    Jodi Murphy
    20 hours ago
    We have had a wonderful experience with…

    We have had a wonderful experience with Figure! Everyone has been extremely helpful and the process of applying to receiving funding was less than a week. Would definitely recommend to anyone looking for heloc options!

    ...

  • author
    customer
    2 days ago
    Lending for the Future

    Fast, efficient and secure service.

    ...

  • author
    Analani
    2 days ago
    Quick

    Quick, Convenient & Secure! Thank You!

    ...