It can be hard to make the next big financial move once you reach that midlife rhythm in life. Steady job — check. Short-term savings — check. Life insurance — check. Home ownership — check.
If you feel like you’ve already tallied the musts of a responsible adult, take a look at your largest asset — your home. Leverage the investment of your home and make your money work for you with a home equity line of credit (HELOC) or refinance through Figure.
While you can get the same services through almost any financial institution, Figure can reduce your wait time to mere minutes. A refinance or HELOC can be a game-changer once you’re focused on the financial long-term, and Figure makes both easy to figure out.
Refinance or HELOC? That is the question.
A refinance and a HELOC offer you 2 totally different avenues.
A mortgage refinance means you get a new loan to replace your original mortgage. Most people choose a refinance because a lower interest rate or better terms are available. This all adds up to you paying less over the life of your mortgage. Now all that’s left to do is decide what you’ll do with the extra cash!
Figure also has a cash-out refinance option. A cash-out refinance replaces your existing mortgage with a new home loan for more than you owe on your house. You get the difference in cash.
A HELOC is a line of credit secured by your home. This is a revolving line of credit, so as you pay the balance, the amount of available credit is replenished. A HELOC often has a lower interest rate than other types of credit, and the interest may be tax deductible.
Take a look at a HELOC with Figure to:
- Fund a college education
- Begin home improvements
- Consolidate your debt
- Foot emergency expenses
- Set yourself up for additional long-term investments
Get Going With Figure
No matter which path you choose, here’s how you can make your move with Figure. Apply online and avoid an in-person appraisal required by traditional lenders. You can get approved in as little as 5 minutes.
Figure offers rates as low as 2.99% APR. There are no prepayment penalties. Figure has optional Autopay and Quorum membership discounts, and an origination option to lower your fixed interest rate and monthly payment (for those who qualify.)
The best part is Figure can get you cash in as little as 5 days. You can borrow up to $150,000 with a 1-time origination fee.
Count on Figure
Figure makes your next financial move easy with support to back you up. It offers online video notary and support. Its average response time is less than 45 seconds.
Make Your Move with Figure Today
A refinance or HELOC with Figure means you can leverage your home’s equity to make your money work for you. Slash your mortgage, consolidate your debt or fund your next big endeavor with the help of Figure.