Partnership features Figure’s HELOC offering at key touchpoints within Houzz
NEW YORK--(BUSINESS WIRE)--Houzz Inc., the leading platform for home remodeling and design, empowering industry professionals and their clients with all-in-one project management and design software, and Figure Lending, LLC (“Figure”), the nation’s largest non-bank provider of home equity lines of credit (HELOC)1, today announced a marketing partnership to make financing more accessible for home renovation and design projects.
Built for homeowners and industry professionals, the custom integration includes a variety of embedded and point-of-sale advertising touch points highlighting Figure’s fast, fully digital HELOC in the Houzz site and apps. For homeowners, the tools are designed to help them afford their dream project sooner, broaden project scope, and manage budgets. For construction and design pros, the new resources can help them win bigger projects and get paid reliably and on time.
“Houzz’s innovative technology, including Houzz Pro software, has changed the way people design and remodel their homes and made the process better for everyone involved,” said Liza Hausman, vice president, Industry Marketing at Houzz. “We know funding projects can be a pain point, and that homeowners value being able to tap into home equity when updating their homes. Our unique partnership with Figure makes accessing HELOC financing for renovation projects easier than ever, helping both homeowners and pros.”
HELOCs are an important consideration for financing a renovation project. In fact, 1 in 7 homeowners fund renovations with a secured home loan, according to the 2024 U.S. Houzz & Home Study. Reliance on secured home loans jumps to 23% of homeowners for higher-budget projects ($50,000 to $200,000). In addition, Figure research shows that home improvement is one of the top two use cases among its HELOC borrowers.
“A collaboration between Houzz and Figure is a perfect fit,” said Matt Estes, vice president, Partnerships at Figure. “Houzz has revolutionized the way people renovate their homes and how industry pros run their businesses, while Figure has reimagined the home equity lending process. Together, we can help more homeowners tap their equity to create their dream homes and support contractors, designers and other professionals in growing their businesses.”
Homeowner-facing features of the partnership include loan calculators, educational resources, comparison tools, easy access to the Figure site and more. They can also learn more about financing options at the Houzz Financing Hub. Within the Houzz Pro site, Figure can be found in several areas, including invoicing, estimates and other payments pages.
Houzz Pro helps residential construction and design professionals run an efficient, profitable business and brings visibility and confidence to renovating homeowners. The software, priced to fit any budget or team, also includes Estimates, Selections, Invoices and other project management, design and business tools.
To learn more about financing home renovations through Figure HELOCs, please visit https://www.figure.com/home-improvement/.
1 Based on Home Equity Lending News Biggest HELOC Lenders 2023
About Houzz
Houzz, the leading platform for home building, remodeling and design, empowers industry professionals and homeowners with the tools they need to make every project a success. The company’s cloud-based, AI-powered project management and design software, Houzz Pro (houzz.com/pro), helps pros win projects, collaborate with clients and teams, and run their businesses efficiently and profitably. For their clients, Houzz Pro provides 24/7 access to project information, 3D visualizations and financial tools. Using Houzz, people can find ideas and inspiration, hire professionals and buy products. The Houzz platform is used by more than 3 million construction and design industry professionals and over 70 million homeowners and home design enthusiasts around the world. Houzz and Houzz Pro are available on the web and as top-rated mobile apps. For more information, visit houzz.com.
About FLLLC
Founded in 2018, Figure Technology Solutions (“Figure”) is a blockchain-based technology platform built to enhance efficiency and transparency in financial services. Its subsidiary, Figure Lending LLC, is the largest non-bank provider of home equity lines of credit; its software has been used to originate more than $13B of home equity lines of credit. Figure’s technology is embedded across a broad network of loan originators and capital markets buyers and is used directly by homeowners in 49 states and Washington, DC. With Figure, homeowners can receive approval for a HELOC in as fast as five minutes and initiate funding in as few as five days.
To date, Figure has embedded its HELOC in more than 135 partners, including Rate (formerly Guaranteed Rate), CrossCountry Mortgage, Movement Mortgage, Goodleap, and many other fintechs, depositories, and independent mortgage banks, as well as more than 200 companies in the home improvement, solar and roofing industries.
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