The Fairway HELOC · powered by Figure
Tap your equity.
Keep your rate.
A home equity line of credit that sits behind your mortgage — so the low first-mortgage rate you fought for never moves. Apply 100% online in about5 minutes. Funding in as few as 5 business days.*
Checking your rate uses a soft credit pull that won’t affect your score.
*Funding in as few as 5 business days assumes closing with a remote online notary and no appraisal requirement; timelines vary by county and loan amount. †Most loans under $400,000 use an automated valuation instead of an in-person appraisal.
What people actually use it for
Your equity has been sitting there.
Put it on the payroll.
Renovations
Kitchens, roofs, additions — fund the project without touching your first mortgage.
Debt consolidation
Roll high-interest credit cards and loans into one fixed payment secured by your home.
Big life expenses
Tuition, medical bills, a wedding — planned or not, equity beats a credit card.
The next property
Down payment on an investment property or cabin, sourced from the home you already own.
Not your grandpa's HELOC
Straight talk on how this one works
This isn't a teaser-rate credit line with fine print you find out about later. Here's the honest shape of it — including the parts other pages bury.
🔒 Fixed rate, per draw
Traditional HELOCs float with the market. Here, each draw locks a fixed rate the day you take it — so the payment on that draw never surprises you. (Rate structures vary by state.)
💵 Full amount up front
You draw 100% of your approved line (minus the origination fee) at closing. That means interest starts on the whole amount day one — great if you'll use the money, worth knowing if you won't.
🔁 Redraw as you repay
As you pay principal down during the draw period, that capacity becomes available to borrow again. Each new draw gets its own fixed rate at that day's pricing.
From application to funded
Three steps. Roughly one week.*
Check your rate — 5 minutes
Answer a few questions about you and your home, 100% online. This is a soft credit pull, so your score doesn't move.
Verify & close online
Income and identity verification happen digitally. Most homes under $400K use an automated valuation — no stranger walking through your house. Close with a remote online notary.
Funds hit your account
In as few as 5 business days from approval,* your full line (minus the origination fee) lands in your account, at a fixed rate.
*Assumes remote online notary closing and no appraisal requirement. Timelines vary by county, state, and loan amount.
A human in the loop
Digital speed. Ashland's judgment.
The application may be automated, but the decision to borrow against your home shouldn't be. Ashland Alitz leads the Lending Lakes & Co team at Fairway's Eden Prairie branch, and she'll tell you plainly whether a HELOC beats a cash-out refinance for your situation — or whether you should do neither.
Text her the scenario. She'll text back the math.
Ready to put your equity to work?
The application takes about 5 minutes, checking your rate won’t touch your credit score, and Ashland is one text away if you want a human gut-check first.