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Figure mortgage refinance review

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You could get approved in only 10 minutes, and close on a loan in just a few days.

Figure seeks to make refinancing quick and easy. Its application is completely online, and it boasts turnaround times that can beat out other providers by more than 20 days. The catch? It’s not available in every state.


Loan types Refinance
Minimum credit 640
Other minimum credits 640
Available States AK, AL, AZ, CA, DE, FL, GA, IA, ID, IN, KS, KY, LA, MA, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, PA, SD, TN, WA, WI, WV


  • Quick close times
  • Completely online application
  • Chat support six days a week


  • Limited state availability
  • You have to use your bank login information
  • No specialized refinance
The Better Business Bureau (BBB) profile for Figure is relatively new, having only been opened in October of 2018. As of October 2019, because it’s such a new business and didn’t respond to two complaints, it received an F rating from the BBB. It averages two out of five stars from eight user reviews. The limited complaints revolve around advertisements and application rejections.

Figure's Trustpilot page paints a much better picture. It has a rating of 5 out of 5 stars from over 400 reviews, with only 4% of customer ratings falling below Great. And when it comes to praise, customers are generally satisfied with the speed of the application and approval process and professionalism of the representatives.

What can I expect when I refinance with Figure?

When you refinance with Figure, you’ll find some features that you’d expect to get with a regular bank and then some.

  • Prequalification. Apply for prequalification without a hard check on your credit. The process allows you to get a quote with the rates calculated based on the information you give about your credit, income, house and the loan you’re looking for. Once you select an offer and move forward with the application, there may be a hard pull on your credit to verify your creditworthiness.
  • Maximum refinance amount. The maximum Figure provides is $1.5 million, with a maximum of $500,000 in cash back, but this may be lower depending on your creditworthiness, income, debts and the property value, among other things.
  • Accepted loan-to-value ratios. You can borrow up to 80% of your home’s value, up to the maximum amount.
  • Flexible repayments. Figure allows you to pay off your loan at any time without a prepayment fee, but interest-only payments aren’t available.

Typical costs and fees

Fees for a refinance with Figure are fairly similar to those you encounter during the mortgage process. Your estimate will have a detailed list of the fees Figure charges, including:

  • Origination. Figure charges an origination fee that’s typically close to 2% of the loan amount.
  • Third party. Appraisal, recording and title fees are charged by third parties and are affected by the service provider and your location.
  • Escrow. There is an initial fee to set up your escrow account, and you’ll pay into it each month, in order to cover taxes and insurance throughout the year, once you start making mortgage payments.

Do I qualify for refinancing with Figure?

The one hard eligibility requirement that Figure gives is a minimum credit score of 640. If your credit score falls short, check out other providers.

Apply for prequalification on the Figure website. Prequalification doesn’t affect your credit, and is only a few steps.

How to apply

The refinance application is completely online, and a decision can be made in a few minutes.

  1. Go to the Figure website
  2. Under Products click Mortgage refinance
  3. Select Find my rate
  4. Fill out your address, information about the loan, your personal information including date of birth and income and select I agree
  5. Go over your rates and choose your offer
  6. Verify your identity
  7. Review documents
  8. Add any signers
  9. Detail your income, assets, declarations and liabilities
  10. Submit your application

Pros and cons

Weigh the good and the bad of using Figure to refinance your loan:


  • Quick close times. Figure claims that applicants can close in a matter of days, as opposed to a month or more that is often found with other lenders.
  • Completely online application. Apply online without ever leaving home.
  • Chat support six days a week. Get answers to any of your questions online, Monday through Saturday from 6 a.m. to 6 p.m. PT.


  • Limited state availability. Refinancing through Figure is not available in every state.
  • You have to use your bank login information. While Figure doesn’t store your bank account login information, it requires it to verify your assets.
  • No specialized refinance. If you’re looking for a VA mortgage refinance or FHA Streamline, you’re out of luck with Figure.

Compare other mortgage lenders

Name Product Loans offered State availability Min. credit score
Figure Refinance
Apply in minutes for a refinance quote, including cash-out options, that won't hurt your credit.
Axos Bank
Conventional, Refinance, Jumbo, Home Equity, Fixed, Adjustable, FHA, VA, USDA
Available in all states
Explore a full suite of home loan options with this direct online lender.
Rocket Mortgage
Conventional, Refinance, Jumbo, FHA, VA, USDA
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.

Compare up to 4 providers

Frequently asked questions

Expert review

Rhys Subitch

Review by

Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

The price of a speedy approval process and closing time is the potentially impersonal feeling of an automated application decision. And it requires you to extend your trust when you provide your bank account login details.

But if you can take that leap of faith, you live in one of the states it serves and you take advantage of its highly-rated customer service, you may find your experience with Figure to be a quick and personable one.

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