In the world of home improvement, financing often plays a pivotal role in helping homeowners bring their visions to life. According to the 2024 U.S. Houzz & Home Study, more than 20% of renovating homeowners use some type of financing to pay for their home remodel, and of those using secured home loans, more than half are leveraging home equity lines of credit (HELOCs). A new partnership between Figure, a digital lender specializing in HELOCs, and Houzz Pro, Houzz’s all-in-one business and client management software platform for remodeling professionals, offers streamlined access to HELOC loans. 

Figure’s platform delivers a seamless digital borrowing experience for homeowners, with eligibility checks that can take as little as five minutes*, and funding disbursement in as few as five days* so that project timelines can stay on track.

*Disclaimer: Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that the property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing or a waiting period before closing.

The addition of Figure to Houzz Pro’s Financial Hub demonstrates Houzz’s commitment to delivering value to homeowners and pros alike through our growing suite of financial services that enable seamless and secure online payments and access to capital.

Unlocking the Benefits of HELOCs for Homeowners

In today’s environment of high interest rates, HELOCs are a popular financing option for homeowners looking to fund renovation projects. HELOCs allow homeowners to borrow against the equity they have built in their property, offering a flexible and cost-effective way to cover remodeling expenses. Some key advantages of HELOCs include:

• Low Interest Rates: HELOCs typically have lower interest rates compared to personal loans or credit cards.
• Ability to Finance Large Projects: Homeowners can draw money for larger projects of $400,000 or more, paying interest  on the borrowed sum.
• Boosting Home Value: Renovations, including those funded through HELOCs, may meaningfully enhance a property’s market value.

Figure offers a user-friendly and streamlined borrowing process. By bringing together Houzz’s community of millions of professionals and homeowners with Figure’s financing opportunities, homeowners can be better equipped to undertake remodeling projects of any scale.

Empowering Remodeling Professionals

For contractors, designers, and other professionals on Houzz, this partnership offers an opportunity to close larger projects as well as elevate client relationships. 

Remodeling professionals can suggest HELOC financing options as a way to help clients overcome budget constraints. This proactive approach can:

• Increase Project Approvals: Offering financing options allows clients to move forward with their projects, even when upfront cash is limited.
• Increase Project Budget: With financing options, clients have the flexibility to  expand the project budget and scope.
• Expand Service Reach: By making renovations more financially accessible, professionals can attract a broader customer base.
• Enhance Client Trust: By demonstrating knowledge of practical solutions for project financing, professionals can build a stronger rapport with homeowners.

Houzz Pro users can use this financing option as a tool to address common financial concerns and empower clients to invest in their homes confidently.

Scale Up Your Business with the Houzz Pro Financial Hub

The Figure and Houzz Pro partnered solution is specifically designed to serve the remodeling industry. It is part of a broader suite of Houzz Pro Financial Hub offerings that enable seamless and secure online payments and access to capital for pros and homeowners. 

Explore the full suite of services that the Houzz Pro Financial Hub offers to streamline all your finance operations and scale your business while supporting clients in achieving their dream projects.