Figure is transforming the lending experience for consumers through the power of blockchain. Through its proprietary blockchain, Provenance, Figure takes loans from application to funding in days, not the typical weeks-long process. Figure products eliminate time consuming appraisals and inspections and require zero paperwork, resulting in a truly digital experience. Figure’s flagship product, Figure Home Equity Line, is a fixed-rate line of credit that provides approval in as little as five minutes and funding in five days — all online. It allows consumers to borrow against the equity in their homes without the paperwork-intensive, 45-day process traditional lenders require.
- In just two years, Figure has become the fourth largest HELOC originator in the United States and homeowners can now borrow up to $150,000 with a fixed rate.
- Originated approximately $1 billion in loans so far and have garnered significant interest from partners and customers like Jefferies, Franklin Templeton, Experian, Caliber Home Loans, and many others.
- Figure began offering student loan refinance and mortgage refinance products, and since then, has originated a total of over $700 million in loans for customers in 2019.