Editor's Pick
Aven HELOC - 30 Year
Aven
NMLS #462289
4.6
Copiafy Score
APR
6.24%
Variable Rate
Loan Range
$5,000
to
$250,000
Term
30
years
Min Credit
640
score
Expert Take
Aven is something new - a credit card that uses your home equity as the credit line. It is very convenient, but it works best for people who are responsible with money. It is easy to forget how much of your home equity you are using and how much debt your home is backing up. Aven is completely online, which is great if you like technology. But some people might want help in person.
Pros & Cons
Pros
- No fees for annual membership, starting the loan, home appraisal, notary, or paying early.
- You can get approved in as little as 15 minutes.
- This unique card makes it easy to use your home equity for both big purchases and small daily expenses.
Cons
- Aven charges a 2.5% fee when you transfer a balance or take out cash.
- Not available in all states. In 15 states, the amount you can borrow is limited.
- The convenience of the card might encourage you to use your home equity when you should not.
Product Details
Customer Reviews
1.7
20 reviews
Quick Facts
Lender Type
Fintech
Funding Time
Within 7 business days
Appraisal Method
automated
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Aven is something new - a credit card that uses your home equity as the credit line. It is very convenient, but it works best for people who are responsible with money. It is easy to forget how much of your home equity you are using and how much debt your home is backing up. Aven is completely online, which is great if you like technology. But some people might want help in person.
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Figure is a great choice if you want a fast loan process with no in-person meetings. The best thing about Figure is speed - you can pre-qualify in five minutes and get your money in as little as five business days. Figure rates are lower than average, and you can save more by setting up automatic payments or joining certain credit unions. However, you will pay a big origination fee, and the HELOC works more like a regular home equity loan with a fixed rate and one large withdrawal.
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