Figure Personal Loans Review (2024)

What is Figure.com?

Figure.com is a financial technology company that offers personal loans through a fully online platform. The company was founded in 2015 and is based in San Francisco, California. Figure.com's mission is to "transform financial services through blockchain, bringing speed, efficiency and savings to both consumers and institutions."

Figure.com Rates and Fees

	4/5 Find Your Rate
APR:	Varies depending on borrower
Loan term:	3 or 5 years
Loan amounts:	$5,000-$50,000
Hidden fees:	Origination fees
Minimum credit score required	680
Extra perks:	Financial education, mobile app
Fund availability	Typically within one to two business days

What type of personal loans does Figure.com offer?

Figure.com offers personal loans to borrowers with good to excellent credit. The loans can be used for a variety of purposes, including debt consolidation, home improvement, and medical expenses. The loans range in size from $5,000 to $50,000 and have repayment terms of 3 or 5 years.

What are the pros and cons of using Figure.com?

Pros:

• Fast and easy application process: The entire application process can be completed online in minutes.
• No credit check required to prequalify: You can see what loans you might qualify for without affecting your credit score.
• Discounts for autopay: You can save money on your loan by setting up automatic payments.
• Refinancing options: You can use Figure.com to refinance existing loans.
• Seamless online experience: The entire loan process can be managed online, from application to repayment.

Cons:

• High origination fees: Figure.com charges origination fees of up to 6%, which can be high compared to other lenders.
• Limited repayment term options: You can only choose between a 3-year or 5-year repayment term.
• No flexibility on payment date: You cannot choose your own payment date.
• No co-signed, joint, or secured loan options: Figure.com does not offer these types of loans.

Who should use Figure.com?

Figure.com is a good option for borrowers with good to excellent credit who are looking for a fast and easy online loan. The company is also a good option for borrowers who are looking to refinance existing loans. However, the high origination fees and limited repayment term options may make Figure.com a less attractive option for some borrowers.

How to apply for a Figure.com personal loan?

To apply for a Figure.com personal loan, you can visit the company's website and complete an online application. You will need to provide some basic information about yourself, including your name, address, income, and debt. You will also need to provide your Social Security number and a copy of your driver's license.

Once you have submitted your application, Figure.com will review your information and let you know if you are approved. If you are approved, you will be able to fund your loan within 24 hours.

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Is Figure.com legit and trustworthy?

Yes, Figure.com is a legitimate and trustworthy lender. The company is regulated by the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). Figure.com also uses industry-standard security measures to protect your personal information.

Conclusion

Figure.com is a good option for borrowers who are looking for a fast and easy online loan. The company offers competitive interest rates and has a simple application process. However, the high origination fees and limited repayment term options may make Figure.com a less attractive option for some borrowers.

Overall, Figure.com is a reputable and trustworthy lender that offers a variety of personal loan options. However, it is important to compare rates and fees from other lenders before you apply.