Figure signs HELOC partnership deal with three mortgage lenders

Through the partnership supported by increased demand, Daniel Wallace, general manager of Figure’s lending business, said they expect to see volume continue to grow to record levels

“Guaranteed Rate, Homebridge, and Synergy One are looking to disrupt the industry, and we are thrilled to work with them as they are able to expand access and provide added convenience to their customers,” Wallace said. “Given the recent upward trend in first mortgage interest rates, a home equity line of credit, when added to a first mortgage, can maximize the amount a customer can borrow while keeping total interest payments low. Consumers want an affordable way to borrow at a time when interest rates are creeping up, and a HELOC is significantly less expensive when compared to other products.”

“During these challenging economic times, homeowners need ways to leverage their home equity in order to finance major purchases,” said Homebridge CEO Peter Norden. “We are excited to partner with Figure to expand our product offerings to include home equity lines of credit.”