The Process
How Our Fast Approval Process Works
From application to funding — a friction-free, high-velocity path to your home's untapped value. Three simple steps stand between you and your equity.
3-Minute Online Application
Complete a simple, secure online application in about three minutes. Answer a few questions about your home and finances — no paperwork, no office visits, no hassle.
Automated Instant Approval
We run a soft credit check that never impacts your score and evaluate your home equity instantly. Get pre-qualified with transparent, fixed-rate offers in real time.
Access Your Funds Fast
Close remotely with our online notary and access your funds in as few as 5 days on a primary residence (due to the right of rescission), or as soon as the day after signing on a second home or investment property. Draw on your line of credit whenever you need it — for renovations, debt payoff, or anything else.
Qualification
HELOC Requirements & Qualification Criteria
Understanding the basics of HELOC qualification helps you prepare and improves your odds of approval. Here's what lenders typically look for.
Credit Score Standards
A minimum credit score of 600 is required for our flagship Figure HELOC, while the NFTY digital platform requires 640 and the HELOC Card requires 620. Higher scores unlock the most competitive fixed rates. We start with a soft credit pull, so checking your eligibility never affects your score.
Home Equity Percentage
You generally need at least 15%–20% equity remaining in your home after accounting for your current mortgage balance. For a primary residence, you can borrow up to 90% combined loan-to-value (CLTV); second homes and investment properties cap at 70% CLTV. Maximum credit lines reach $750,000.
Income Verification
Lenders verify that you have sufficient, stable income to repay what you borrow. We accept W-2 employment, self-employment income, and other verifiable sources. Documentation is collected digitally after you accept an offer — no upfront paperwork to get pre-qualified.
Debt-to-Income (DTI) Ratio
Most HELOC programs look for a debt-to-income ratio below 43%–50%, including your existing mortgage payments and the new HELOC. A lower DTI signals stronger repayment capacity and can improve the terms you are offered. Use our calculator to estimate where you stand.
Get Started
Ready to Unlock Your Equity?
Speak with a Licensed Loan Officer or start your application online. Pre-qualify in just 5 minutes with a soft credit check.