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FIGURE Refi Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
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FIGURE is an online lender that offers home equity lines of credit, cash-out mortgage refinances and student loan refinancing. The company was founded in 2018 and was based in San Francisco, California. It prides itself on its efficiency and its fast pre-qualification and closing times.
 
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How is FIGURE rated?

Breakdown

4.5/5
Lender Types
4.4/5
Available Mortgage Types
5.0/5
Customer Experience
4.5/5
Reputation & Transparency

Overall Rating: 4.5 / 5 (Excellent)

FIGURE offers cash-out refinances with the option to borrow up to $500,000. Its website is pretty sparse on information, but it offers a quote tool to help you get pre-qualified so you can decide if it's right for you. Its pre-qualification and closing times are much faster than most of the rest of the industry, so it's definitely worth considering if you want your money quickly.

FIGURE Loan Specifics

Available Mortgage Types - 4.4 / 5

FIGURE's cash-out refinance option enables you to borrow up to 80% of your home's value and receive up to $500,000 in cash back. You can get pre-qualified online without hurting your credit and this is a good first step if you want to learn more about the company's offerings because it doesn't share any information about its fees on its website. This is not unusual for a mortgage lender, but it does make comparing your options a little more challenging.

FIGURE Customer Experience

Customer Experience - 5 / 5

FIGURE aims to streamline the process of securing a cash-out refinance and it does so pretty successfully. It only takes a few minutes to get pre-qualified and you can close in as little as 10 days. This is much faster than traditional mortgage lenders, so it's a good choice for those who want their money in a hurry.

Online Features

Online Application
Yes
Online Quote
Yes
Additional Tools and Resources
Help Articles
SSN Required for Quote
No

Loan Closing Time

As little as 10 days

Decision and Closing Times

Minutes

FIGURE Qualification Requirements

Qualification Requirements - 4.9 / 5

FIGURE doesn't publish information about its qualification requirements on its website, which is typical of most mortgage lenders. In order to decide if it's a good fit for you, you'll have to fill out its quote tool online to see if you can get pre-qualified. This will not affect your credit score.

FIGURE Lender Reputation

Reputation & Transparency - 4.5 / 5

It's difficult to get a read on FIGURE's customer service because its reviews are so mixed. It has an F rating with the Better Business Bureau, yet it received a 4.8 out of 5 stars from several hundred customers on TrustPilot. The Nationwide Mortgage Regulatory System doesn't have any records of regulatory actions against the company, yet there's a few Consumer Financial Protection Bureau complaints. None of this means you're going to run into problems if you choose to work with FIGURE, but it is something to keep in mind.

Key Facts

Lender Type
Direct Lender
Year Founded
2018
BBB Rating
NR
BBB Positive Reviews
2
BBB Negative Reviews
6
Trustpilot Rating
4.8 out of 5
Collection Date
2019-11-18

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
1717824
The Nationwide Mortgage Regulatory Actions
0
Consumer Financial Protection Bureau Complaints
9

Company Profile

Full Name
FIGURE Refi
Company Website
https://www.figure.com/
Headquarters
15720 Brixham Hill Ave, Suite 300, Charlotte, NC, 28277

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