topic Re: Figure HELOC in Mortgage Loans

Figure HELOC

yam1rts — Thu, 14 Aug 2025 05:48:03 GMT

After a 3-4 week search for an option to tap into my home equity, I finally decided to accept the lowest rate offered and that was by Figure Lending. They offered me a rate in the form of APR. other lenders were offering a Note Rate, others presented both, APR and Note Rate in their offers.

I applied yesterday the 12th, verified income through PLAID, verified Identity by uploading ID document, signed all paperwork and now just waiting for the eNotary to wrap things up. If they really take 5 business day to fund, then that means I should get the deposit this Monday.

Pros: all electronically, application, verifications and approval done under 10 minutes. the rate is LOCKED!

Cons: the initial draw is 100% of the approved CL.

Re: Figure HELOC

yam1rts — Fri, 22 Aug 2025 08:00:57 GMT

Sooo, Monday came and no dice for the money. They kept asking for more info, but yesterday they finally sent me to eNotary and we're now in rescission (3 day cool-off period). Right now, I'm at the 9th business day of the application process. Hopefully, next week I'll finally get the funds.

Re: Figure HELOC

Peterparkyr — Sat, 06 Sep 2025 17:58:22 GMT

@yam1rts

Curious how this has worked out for you? Any updates?

Re: Figure HELOC

yam1rts — Sun, 07 Sep 2025 09:14:51 GMT

@Peterparkyr wrote:
@yam1rts
Curious how this has worked out for you? Any updates?

Right, I got the funds right after the cool off period. So, to sum it up, I applied on 8/12 and was funded on 8/26. That’s 10 business days. It worked out very very well for me.