Forbes
Financing · Powered by Figure
A HELOC as considered as your Studio Home.
We've partnered with Figure, the #1 non-bank HELOC lender in the US, so the money side of your backyard project is as considered as the architecture. Fixed rate. Fully online. Funding in as few as 5 days.
★★★★★ 4.8/5 · 4,543 Figure reviews
5 min application
5 days to funding
No in-person appraisal
Summit Series
Built for the long view.Financed with a fixed-rate Figure HELOC.
Why Figure — awards & recognition
The publications that vet this category for a living.
FAST COMPANY
Most Innovative · Finance & Personal Finance
2025 · Fast CompanyInvestopedia
Best Overall HELOC · Best Online Experience
2025 · InvestopediaMoney.
Best HELOC of 2025
2025 · Money.com
Why Figure
A financing experience that matches the quality of your build.
Traditional HELOCs can take six weeks, three visits to a branch, and a closing costs sheet that looks like a restaurant tab. Figure strips that down to what actually matters.
5min
Apply in one sitting
Fully online. No paperwork to mail. Soft credit pull up front, so rate-shopping doesn't touch your score.
5days
Funding in as few as 5 days
Digital appraisal and e-notarization in most states. Don't let financing timelines push your project into next season.
100%
Upfront, fixed rate
Receive the full credit line on day one at a rate that never changes. Predictable payments from groundbreak to ribbon-cutting.
$0
No hidden fees
No prepayment penalty. No annual fee. No application fee. What you're quoted is what you pay.
Choose your path
HELOC or Cash-Out Refinance?
Most Studio Home clients finance through a HELOC — it's faster, cheaper upfront, and leaves your existing mortgage alone. Here's when each one makes sense.
HELOC
Home Equity Line of Credit
Borrow against the equity you already have — without touching your first mortgage.
- ✓Keeps your low-rate mortgage intact — no giving up a 3% rate to tap equity.
- ✓Fixed rate with Figure, not variable like most HELOCs.
- ✓Draw as you need it — or take the full line upfront.
- ✓Closing costs: $0–$1,325, dramatically lower than a refi.
- ✓Funding in days, not weeks.
Best for
Homeowners with a mortgage rate below current market rates who want to fund a $50k–$400k Studio Home project without disturbing their existing loan.
Cash-Out Refi
Cash-Out Refinance
Replace your current mortgage with a new, larger one and pocket the difference.
- ✓Consolidates everything into one monthly payment.
- ✓Can make sense if current rates are lower than your existing mortgage.
- ✓Potentially larger loan amounts than a HELOC.
- ✓Well-suited to homes owned free and clear.
- ✓30-year amortization spreads payments.
Best for
Homeowners whose current mortgage rate is at or above today's market, or who own outright and want a traditional first-mortgage structure.
Payment estimator
See your monthly payment in seconds.
Tell us a little about your home and your Studio Home project. We'll show you a realistic estimate based on Figure's current HELOC rate bands. No credit pull, no email required.
Estimates only. Your actual rate, APR, fees, and loan amount depend on credit history, property details, and underwriting review. Figure's final offers may vary. Figure Lending LLC · NMLS 1717824. Not a commitment to lend.
Cost comparison
What you could pay — Studio Home + Figure.
A typical $175,000 Studio Home project, financed two ways. Same budget. Very different monthly outcome.
Traditional variable HELOC
$1,848/mo
Variable rate that adjusts quarterly. Higher closing costs, in-person appraisal, 4–6 week funding.
~9.25% variable
20 yr term
$2k+ closing
Studio Home × Figure
$1,193/mo
Fixed rate, predictable payments, digital closing. The full line available on day one so your GC isn't waiting.
7.25% fixed APR
30 yr term
$0–$1,325 closing
Homeowners can save $655/month — roughly $7,860 a year — by choosing a fixed-rate HELOC through our Figure partnership versus a traditional variable option.
Models you can finance
Pick the build, then the payment.
Every Studio Home model is HELOC-friendly. Configure yours in the design center to lock in the number you'll finance — most projects fall between $25k and $250k.
Your path
From "what if" to move-in, in four steps.
Financing shouldn't be the part that derails your project. Here's what it looks like when Studio Home and Figure run in parallel.
1
Design your Studio Home
Pick a model or work with our designers on a custom floorplan. Lock in scope so your financing target is real, not a guess.
Week 1–22
Pre-qualify with Figure
5-minute online application. Soft credit pull. You'll see your rate and credit line without touching your score.
Same day3
Close digitally & fund
Digital appraisal, e-notary, and the full line deposited to your account in as few as 5 days.
5–7 days4
Start your project
We process Figure payments at the speed of light, so there are no surprises or delays as we build and deliver your Studio Home for assembly.
Some projects ship same week
FAQ
Questions homeowners actually ask.
If you don't see your question here, our ADU consultants take these calls every day. They'll loop Figure in where it helps.
Start in the Design Center
Do I need to have financing in place before I design my Studio Home?
No — most homeowners start with a design consultation so they know the real number to finance. We recommend pre-qualifying with Figure in parallel so the two tracks converge at the same time. There's no obligation, no hard credit pull, and no cost to see your rate.
Can I use the equity in my home to finance a Studio Home?
Yes — this is the most common path. A HELOC through Figure lets you borrow against your existing equity without replacing your first mortgage. You keep your current rate and add a separate, fixed-rate credit line sized to your Studio Home project.
Will future rental income from my ADU help me qualify?
Figure underwrites based on your existing income, credit, and current home equity — not projected rental income. The good news: an ADU typically increases your property value, which can improve your combined LTV and unlock more room on a future HELOC if you want to pull equity again later.
Does financing cover design, permits, and construction — not just the building?
Yes. Funds from your HELOC can be used for any part of the project: Studio Home design fees, permitting, site work, foundation, utilities, delivery, assembly, and finishes. You receive the full line upfront, so you can pay each vendor as work progresses.
What's the difference between a HELOC and a cash-out refinance?
A HELOC sits on top of your existing mortgage — you keep your current rate. A cash-out refi replaces your mortgage with a new, larger one. For most Studio Home clients with a sub-market mortgage rate, a HELOC is meaningfully cheaper. If you own your home outright or your current mortgage rate is higher than today's market, a refi may be worth running the numbers on.
What credit score do I need for Figure's HELOC?
Figure typically lends to borrowers with credit scores of 640 and above. Better scores mean better rates — use the calculator above to see approximate ranges. Final pricing comes after a soft pull prequalification.
How long is the application and funding process?
The application takes about 5 minutes. Pre-qualification is immediate. Full funding typically happens in 5–7 business days — no in-person appraisal in most states, and e-notarization where available.
Are there hidden fees or prepayment penalties?
No prepayment penalty, no annual fee, no application fee. Figure's origination fee is transparent and shown upfront during prequalification. Closing costs range from $0 to about $1,325 depending on your state and loan size.
Ready when you are
Save your design first — then check your rate with Figure.
The order matters. Pick your model and save your design so you know the real number to finance. Five minutes with Figure tells you what that translates to per month — with a soft credit pull, no impact to your score. Booking a consultation with our team is the last step in this online process, not the first.