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Figure Personal Loans Review: Expert Analysis & Insights for 2023
Figure is an online provider of home equity loans, personal loans, and crypto-backed loans. Using blockchain technology, Figure has streamlined the loan application, approval, and disbursement process, making it virtually seamless from start to finish. Their rates are highly competitive, especially for well-qualified borrowers.
Min. Credit Score 600+
Loan Amount Up to $50K
Loan Repayment 3-5 years
Written by:Christi Gorbett
Figure offers personal loans up to $50,000 or home equity loans up to $300,000. These funds can be used for practically anything, including home improvements, educational expenses, large purchases, debt consolidation, and travel. Figure is best suited to borrowers with a high credit score and low debt-to-income ratio, which are needed to qualify for low APRs. Want to know if Figure’s loan products are right for you? Then read our detailed Figure review provided below.
Summarized Rating
Loan Features3
Interest Rates and Fees3.3
Qualification Leniency5
Application Process4
Customer Support5
User Reviews4.7
Perks Bonus5
This parameter considers loan term lengths, loan minimums and maximums, and the extent of loan use limitations. Each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.
Figure gets a subpar 3.0 for Loan Features. This reflects the lender’s standard term lengths and somewhat restrictive loan limits. The absence of any loan use limitations provides a boost to the score.
Figure Personal Loans Pros and Cons
Figure Pros
Figure Cons
At the top of the page, you’ll see there’s information about a referral bonus. If a current Figure customer has referred you to the site, you both can earn a $150 gift card if your loan is approved. All you have to do is provide the member’s email address during the application process to be eligible for the bonus.
About the Author
Christi Gorbett
Freelance Content Marketing Writer specializing in finance, personal development, education, marketing, web development, food & beverage manufacturing, pet, and contracting/home improvement niches.
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