Figure Lending at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C grade breaks down
Each component is a percentile rank among 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
37th29.1% deniedPricingmedian rate spread over APOR, weight 30%
2nd2.75 ptsProcesswithdrawn + incomplete share, weight 15%
88th5.1%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 56,441 | 24,488 | 32.7% | 35.6% | 10.95% | $1.7B |
| 2024 | 73,873 | 34,103 | 28.1% | 29.8% | 10.70% | $2.7B |
| 2025 | 72,355 | 33,415 | 27.6% | 29.1% | 9.10% | $2.9B |
What Figure Lending lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 72,355 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 4,279 investment properties.
Why Figure Lending denies applications
Primary reason reported for each of the 19,989 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Figure Lending
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 6,663 | 1,792 | 48.7% |
| $50k – $100k | 19,717 | 9,730 | 22.1% |
| $100k – $150k | 16,322 | 9,249 | 16.6% |
| $150k – $250k | 14,582 | 8,633 | 14.5% |
| Over $250k | 6,944 | 4,011 | 15.4% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 554 | 123 | 44.1% |
| 25–34 | 7,264 | 3,405 | 25.7% |
| 35–44 | 19,054 | 9,724 | 24.0% |
| 45–54 | 20,038 | 9,825 | 27.6% |
| 55–64 | 14,999 | 6,617 | 32.4% |
| 65–74 | 7,543 | 2,810 | 37.3% |
| Over 74 | 2,903 | 911 | 41.6% |
Where Figure Lending lends
50 states and 2,551 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 11,404 | 5,234 | 25.8% | 8.80% | #21 |
| Florida | 6,649 | 2,872 | 30.2% | 8.75% | #34 |
| Georgia | 3,594 | 1,717 | 27.5% | 8.85% | #29 |
| Ohio | 3,065 | 1,553 | 23.4% | 8.80% | #34 |
| Illinois | 2,877 | 1,432 | 24.1% | 8.90% | #33 |
| Arizona | 2,748 | 1,416 | 24.0% | 8.80% | #26 |
| New Jersey | 2,715 | 1,197 | 29.5% | 9.40% | #26 |
| Texas | 2,473 | 825 | 42.9% | 10.50% | #80 |
| Virginia | 2,426 | 1,180 | 21.6% | 8.90% | #35 |
| North Carolina | 2,424 | 1,212 | 26.5% | 10.36% | #40 |
| Michigan | 2,420 | 1,090 | 28.1% | 8.85% | #42 |
| Pennsylvania | 2,328 | 1,075 | 26.3% | 9.60% | #46 |
| Tennessee | 1,787 | 887 | 25.4% | 9.95% | #42 |
| Washington | 1,692 | 793 | 25.9% | 10.13% | #39 |
| Indiana | 1,623 | 766 | 27.6% | 10.35% | #52 |
| Maryland | 1,486 | 714 | 28.0% | 9.15% | #38 |
| Colorado | 1,472 | 680 | 29.3% | 8.80% | #40 |
| Nevada | 1,260 | 605 | 26.9% | 8.95% | #24 |
| Alabama | 1,157 | 521 | 29.0% | 8.85% | #46 |
| Oregon | 1,131 | 552 | 27.7% | 8.90% | #37 |
| Minnesota | 1,119 | 529 | 25.7% | 8.75% | #37 |
| Connecticut | 1,092 | 501 | 27.4% | 8.80% | #28 |
| Missouri | 1,028 | 513 | 25.9% | 8.70% | #49 |
| Wisconsin | 1,025 | 517 | 23.0% | 8.65% | #48 |
| South Carolina | 1,003 | 432 | 30.9% | 10.49% | #58 |
| Massachusetts | 930 | 411 | 31.0% | 8.70% | #53 |
| New York | 848 | 363 | 33.5% | 9.10% | #103 |
| Oklahoma | 723 | 308 | 31.3% | 8.83% | #46 |
| Arkansas | 686 | 322 | 28.9% | 8.81% | #39 |
| Kentucky | 637 | 273 | 27.6% | 9.65% | #66 |
| Utah | 591 | 300 | 25.9% | 8.75% | #53 |
| Louisiana | 583 | 202 | 33.8% | 10.65% | #49 |
| Kansas | 562 | 251 | 29.7% | 8.65% | #46 |
| Idaho | 539 | 255 | 27.8% | 8.70% | #41 |
| New Hampshire | 477 | 229 | 26.0% | 8.60% | #32 |
| Mississippi | 469 | 192 | 35.2% | 8.76% | #41 |
| Iowa | 460 | 219 | 27.6% | 8.75% | #51 |
| New Mexico | 443 | 213 | 27.5% | 8.60% | #43 |
| Nebraska | 333 | 168 | 24.3% | 8.85% | #52 |
| Montana | 281 | 131 | 28.1% | 8.53% | #30 |
| Maine | 276 | 118 | 30.1% | 10.33% | #57 |
| Delaware | 259 | 120 | 26.6% | 9.78% | #45 |
| West Virginia | 218 | 108 | 22.9% | 8.48% | #54 |
| Rhode Island | 210 | 81 | 33.8% | 10.40% | #48 |
| Alaska | 166 | 79 | 31.3% | 8.95% | #29 |
| Vermont | 166 | 46 | 42.2% | 9.94% | #30 |
| South Dakota | 146 | 59 | 34.9% | 7.85% | #44 |
| Wyoming | 138 | 60 | 33.3% | 8.80% | #45 |
| North Dakota | 123 | 57 | 27.6% | 8.50% | #40 |
| District of Columbia | 93 | 37 | 24.7% | 9.15% | #49 |
Frequently asked questions
Figure Lending denied 29.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 37th percentile of home-equity (HELOC) lenders.
The most common reason Figure Lending gave in 2025 was "debt-to-income ratio", cited on 37.4% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Figure Lending originated in 2025 was 9.10%, and its median rate spread over the average prime offer rate was 2.75 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 0% of its applications were for home purchases, 0% for refinancing (including cash-out), and 100% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.