Figure HELOC offers a flexible financing option for homeowners seeking to fund major projects like solar installations. Its digital-first process simplifies applications and provides competitive interest rates alongside high approval rates. These features make it a valuable alternative to traditional loans.
One standout benefit is the Combined Loan-to-Value (CLTV) ratio of up to 85%, higher than the industry standard of 70–80%. This feature gives homeowners with large mortgages better access to equity. Fixed interest rates between 6.25% and 15% ensure predictable monthly payments, while borrowers pay only an origination fee upfront. By eliminating extra fees, Figure helps homeowners start projects without unexpected costs.
The application process prioritizes speed and ease. Through a partnership with Plaid, Figure enables direct income verification, often approving applications in just a few days. For those who prefer manual methods, submitting W-2s offers an alternative. Once approved, homeowners usually receive funds within five days, ensuring quick access to financing.
Figure HELOC also caters to solar installations. Its planned contractor portal and upcoming solar loan refinancing features highlight its commitment to supporting clean energy projects. While specialized solar loans may include more targeted incentives, Figure provides unmatched speed, flexibility, and accessibility.
Borrowers gain additional advantages, such as the freedom to make early payments or adjust repayment terms without penalties. Selling a home with a Figure HELOC is straightforward; homeowners can clear the loan balance using sale proceeds, simplifying transitions.
Figure HELOC proves ideal for homeowners who value transparency, fast processing, and practical loan options. Whether you’re considering solar installations or other home improvements, this financing solution offers clear benefits.
To explore how Figure HELOC can support your next project, read the full article here: https://aesrenew.com/is-figure-heloc-the-right-choice-for-homeowners/
