SALT charges 9.95%–14.45% APR with $0 origination fees using custodial. Figure charges 9.99%–12.62% APR with a 1% origination fee using mpc custody (segregated). See the full breakdown of rates, thresholds, and custody risk below.
Rates verified 2026-05-14
Figure advertises a lower headline rate at 9.99%–12.62% compared to SALT's 9.95%–14.45%. On a $1M loan held for 12 months, SALT saves $400 in total first-year cost (interest plus origination fees).
SALT structures rates by LTV ratio rather than loan amount, so the rate depends on how much collateral you pledge relative to the loan. Total year-1 cost includes both annualized interest and any origination fees charged upfront.
| Loan Size | SALT APR | Figure APR | SALT Total Year-1 Cost | Figure Total Year-1 Cost | Savings |
|---|---|---|---|---|---|
| $100,000 | 10.95% | 9.99% | $10,950 | $10,990 | $40 with SALT |
| $250,000 | 10.95% | 9.99% | $27,375 | $27,475 | $100 with SALT |
| $500,000 | 10.95% | 9.99% | $54,750 | $54,950 | $200 with SALT |
| $1M | 10.95% | 9.99% | $109,500 | $109,900 | $400 with SALT |
| $5M | 10.95% | 9.99% | $547,500 | $549,500 | $2,000 with SALT |
Total year-1 cost includes annualized interest plus origination fees. Figure: 1% origination fee. Rates sourced from each lender's public rate pages as of 2026-05-14.
Both SALT and Figure use similar custody approaches: custodial and mpc custody (segregated) respectively. SALT uses Custodial. Your Bitcoin is held by SALT and could be at risk in the event of a hack, insolvency, or regulatory action. Figure uses MPC custody (segregated). Your Bitcoin is held by Figure and could be at risk in the event of a hack, insolvency, or regulatory action.
SALT triggers margin calls at 83.33% LTV and liquidates at 90.91% LTV. Figure triggers margin calls at 70% LTV and liquidates at 85% LTV. SALT gives borrowers 48 hours to respond, while Figure provides 24 hours.
| Threshold | SALT | Figure |
|---|---|---|
| Max Starting LTV | 70% | 75% |
| Margin Call | 83.33% LTV | 70% LTV |
| Margin Call Window | 48 hours | 24 hours |
| Liquidation | 90.91% LTV | 85% LTV |
SALT: 20.9 percentage point buffer between starting LTV (70%) and liquidation (90.91%). Figure: 10.0 percentage point buffer between starting LTV (75%) and liquidation (85%). SALT provides a wider safety margin.
Choosing between SALT and Figure requires evaluating total cost, custody risk, and which platform aligns with your borrowing profile. SALT uses custodial with 9.95%–14.45% APR, while Figure uses mpc custody (segregated) with 9.99%–12.62% APR.
On a $250,000 loan, SALT costs $27,375 in the first year versus $27,475 at Figure, a difference of $100. Part of Figure's higher cost comes from its 1% origination fee, which adds $2,500 upfront on this loan size. SALT charges no origination fee, so the only cost is interest.
Both platforms use similar custody approaches. SALT operates via custodial, and Figure uses mpc custody (segregated). Neither platform rehypothecates borrower collateral.
SALT is the better fit for borrowers who need smaller loans or instant access. Figure is the better fit for borrowers who need smaller loans or more flexible access.
Key details to be aware of: SALT: Rates vary by LTV x term matrix. 'Stabilization' at 90. Figure: Figure Markets. APR 9.
SALT is cheaper. On a $500,000 loan held for 12 months, SALT costs $54,750 (10.95% APR) while Figure costs $54,950 (9.99% APR + 1% origination fee). That is a $200 difference in the first year.
SALT uses custodial. Figure uses mpc custody (segregated). Both platforms present similar custody risk profiles.
SALT's minimum loan is $1,000. Figure's minimum is $5,000. SALT is more accessible for smaller borrowers.
SALT issues a margin call at 83.33% LTV with a 48-hour response window and liquidates at 90.91% LTV. Figure issues a margin call at 70% LTV with a 24-hour response window and liquidates at 85% LTV. Starting from a 50% LTV, SALT provides a 41-point buffer before liquidation, while Figure provides a 35-point buffer.
It depends on your priorities. SALT (9.95%–14.45% APR, custodial, min $1,000) is better for borrowers who value custodial and need smaller loan access. Figure (9.99%–12.62% APR, mpc custody (segregated), min $5,000) is better for borrowers who value mpc custody (segregated) and need smaller loan access. Use the rate table and cost comparison above to model your specific scenario.
Already borrowing with Figure? See your interest savings, terms head-to-head, and counterparty risk on your own numbers.
Open Compare LendersLygos offers 10% APR, $0 origination fees, and DLC-secured collateral where rehypothecation is cryptographically impossible.