Figure offers an easy online application with low starting rates and next-day funding. What’s more, if you lose your job or face financial hardship, you may be eligible for forbearance for up to six months over the life of your loan. It’s good to know the lender has your back if you run into money issues after you move.
You can complete an online application with Figure in minutes and borrow between $5,000 and $50,000 for relocation expenses with a repayment term of 36 or 60 months. Figure charges an origination fee between 0% and 5% of the loan amount, depending on your creditworthiness. APRs range from 5.75% to 31.44% with the Autopay discount. While Figure doesn’t disclose a minimum credit score or income for its personal loans, several third-party sources report that you’ll need good credit to be approved. Figure requires a minimum credit score of 620 for its home equity lines of credit. Since personal loans are unsecured, you’ll likely need an even higher score. Keep in mind that Figure’s money app product, Figure Pay, may also be helpful for point-of-sale loans on large purchases for your new home, and may be easier to qualify for.