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  Figure Mortgage Refinance

Figure Mortgage Refinance

in Mortgage Refinance from Figure Lending LLC · NMLS ID #1717824

Unaffiliated

Figure Mortgage Refinance

Unaffiliated

in Mortgage Refinance from Figure Lending LLC · NMLS ID #1717824

SuperMoney Net Recommendation Score +20%

SUPERMONEY NET RECOMMENDATION SCORE

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2 users don't recommend
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Highlights
Highlights
Community Rating Mostly recommended
Loan Amount $100,000 - $1,500,000
Loan Term (Years) 30 years
Number of Reviews 5

Figure Mortgage Refinance Review

Figure Mortgage Refinance is offered by Figure Lending LLC (NMLS #1717824), a direct lender founded in 2018 and based in Reno, NV. Figure Mortgage Refinance is available in 31 states across the USA.

Key Takeaways
  • Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
  • Mortgage programs available. Figure Mortgage Refinance only refinances conventional mortgages.
  • Interest Rate Types. Figure Mortgage Refinance only offers fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for refinancing. However, Figure Mortgage Refinance does offer refinancing for primary and secondary homes (e.g. vacation properties).
  • Fast process. In some cases you can refinance your mortgage loan within 4 business days.
  • No-closing-cost mortgages available. This option allows you to include the closing costs into the new loan, so you don't pay for these expenses upfront.
  • Origination fee of 2%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
  • Maximum LTV. Figure Mortgage Refinance has a maximum loan to value ratio of 75%.
  • Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Figure Mortgage Refinance.
  • Maximum DTI ratio. Figure Mortgage Refinance has a maximum debt-to-income ratio of 43%. Your DTI is calculated by dividing your monthly debts (including your proposed mortgage payment) by you monthly income and multiplying by 100.
Figure Mortgage Refinance Pros & Cons
Pros Cons
  • Fast access to customer service (average response time of 15 seconds).
  • Online notary available in some locations.
  • Option to cash-out with refinance.
  • $0 prepayment fee.
  • Considers applicants with poor credit.
  • Available in 31 states.
  • Charges an origination fee of up to 2% of the loan amount.
  • No co-sign option.
Figure Mortgage Refinance FAQ

What range of mortgage balances will Figure Mortgage Refinance refinance?

Mortgage refinancing loans start at $100,000 and go up to $1,500,000

What is the maximum loan term for a mortgage refinance via Figure Mortgage Refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Figure Mortgage Refinance offers 30-year mortgage refinancing loans.

What is the estimated funding time for a mortgage refinance with Figure Mortgage Refinance?

Figure Mortgage Refinance will typically fund mortgage refinances within 4 days of approval.

Does Figure Mortgage Refinance charge a mortgage origination fee?

Yes, Figure Mortgage Refinance will charge a loan origination fee of 2% of the loan amount.

Does Figure Mortgage Refinance charge prepayment fees?

No, Figure Mortgage Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs does Figure Mortgage Refinance offer?

Figure Mortgage Refinance offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.

What property usage types does Figure Mortgage Refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Figure Mortgage Refinance allows the following property usage types: 

  • Primary home
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   100 West Liberty Street
    Suite 600
    Reno, NV 89501

Hours of Operation

  • Sunday Closed
  • Monday 6:00am - 6:00pm
  • Tuesday 6:00am - 6:00pm
  • Wednesday 6:00am - 6:00pm
  • Thursday 6:00am - 6:00pm
  • Friday 6:00am - 6:00pm
  • Saturday 6:00am - 6:00pm

Other Services by Figure Lending LLC

Message From Figure Lending LLC

Figure Technologies is transforming the lending experience for consumers through the power of automation technology. Figure can take loans from application to funding in weeks, not the months-long process offered traditionally. Their products eliminate time consuming appraisals appraisals and inspections, requires zero paperwork and offers five star customer service. Currently Figure offers HELOC and Mortgage Refinancing and plans to continuously expand its portfolio of loan products. The company was founded by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar business under his leadership as CEO.

Availability

  Available in 31 states
  • Alabama
  • Alaska
  • Arizona
  • California
  • Delaware
  • Florida
  • Georgia
  • Idaho
  • Indiana
  • Iowa
  • Kansas
  • Louisiana
  • Massachusetts
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Pennsylvania
  • South Dakota
  • Tennessee
  • Washington
  • West Virginia
  • Wisconsin

Feature Breakdown

No Prepayment Fee  
Late Fee After 15 days
Origination Fee (%) 2%
Credit Score Range 620 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use Primary Home
Maximum LTV 75%
Property Type
  • Single Family Home
  • Townhome
Funding Time Range 4 days
Mortgage Features
  • Cash-Out Refinance
  • No-Closing-Costs Option
  • Instant Online Preapproval
Loan Term 30 years
Loan Amount $100,000 - $1,500,000
Interest Rate Types Offered Fixed-Rate Mortgage
Mortgage Programs Conventional Mortgages

Figure Mortgage Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+20%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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