A Versatile Financial Tool—When Used Wisely
Your home equity isn’t just idle value—it can be a powerful tool for strategic financial moves. A Home Equity Line of Credit (HELOC) offers flexible access to funds with typically lower interest rates than credit cards or personal loans.
Even better? For eligible homeowners, funds can be used across a wide range of qualified goals—with the right plan in place.
What Is a HELOC?
A HELOC is a revolving line of credit secured by your home. You can borrow as needed during a draw period (usually 5–10 years), then begin repaying principal and interest during the repayment period.
- Borrowing limit: Typically up to 80–85% of your home’s appraised value, minus any existing mortgage balance.
- Structure: Interest-only during draw period; fixed-rate repayment may be available on some draws.
Note: This is a secured loan. Failure to repay may result in foreclosure.
Strategic Ways to Use Your HELOC
✅ Debt Consolidation
Use your HELOC to consolidate high-interest credit cards or loans into a single monthly payment—potentially lowering your interest rate and monthly burden.*
✅ Home Improvements
Renovations or repairs that increase your home’s value can be smart uses of HELOC funds. Interest may be tax-deductible when used for qualified home improvements.¹
✅ Emergency Fund Backup
A HELOC can offer financial flexibility if you’re facing a temporary cash shortfall—but it shouldn’t replace a long-term emergency savings plan.
✅ Down Payment on Investment Property
Some homeowners choose to use a HELOC to support real estate investments—after careful planning and professional consultation.
✅ Direct Debt Payoff (Intellidebt)
With Figure’s optional Intellidebt feature, eligible borrowers can send funds directly to selected creditors during the HELOC application process—helping improve credit profiles and approval odds.²
Important Considerations Before You Borrow
A HELOC can offer flexibility and liquidity—but because your home is the collateral, it’s important to use it responsibly.
Before drawing funds, make sure you:
- Understand interest rate terms and repayment structure
- Have a clear plan for repayment
- Are using funds for goals that support long-term financial health
Final Thoughts
Figure’s HELOC is designed for modern homeowners who want control, speed, and transparency. Whether you’re investing in your home, consolidating debt, or preparing for future opportunities, your equity could be the key.
👉 Curious what you qualify for? Check your personalized rate—no commitment required.
Disclosures: Figure Lending LLC is an Equal Housing Lender. Licensed to lend in 50 U.S. states. Terms and conditions apply. Learn more at figure.com. ¹Consult a tax advisor to determine deductibility. ²Savings and FICO impacts based on borrower profile; actual results may vary.
