Aven: 2025 Home Equity Review

Aven’s product isn’t a typical home equity line of credit (HELOC) or HE loan; it’s a credit card. You’ll get a line of credit based on your tappable home equity, like a HELOC, and receive unlimited 2 percent cash back on purchases, like a cash-back reward credit card.

The card is a Visa card and backed by Coastal Community Bank, an FDIC-insured institution. Along with individual purchases, you can use the Aven HELOC card to cash out your home equity in large amounts, with the funds going directly into your designated bank account. You have the option to repay the funds in fixed installments over five or 10 years, similar to a home equity loan (“Aven Simple Loan”).

Aven also offers a HELOC refinance product, in which users can refinance their existing second -lien HELOC or home equity loan to an Aven HELOC. There are no origination or transfer fees associated with the refinance. 

Affordability: 5/5

• APR: Aven now provides a lowest rate guarantee. If you're able to get a lower HELOC rate with another lender, it will beat the offer or send you $100. Its APRs for primary residences run between 7.74% and 15.24% (depending on your credit) — low compared to most credit cards. Also, Aven’s maximum APR won’t exceed 18 percent during the life of your account. 
• Fees:  There are no annual, sign-up, or prepayment fees, but you’ll pay a 2.5% fee on cash outs and balance transfers. You will also be on the hook for a $29 late fee if you miss the minimum payment.

The absence of fees, competitive APRs and the lowest rate guarantee all help Aven score a 5 out of 5 affordability rating.

Availability:  4.9/5

• Credit score: You will need a FICO score and VantageScore of at least 640, which is typical of home equity lenders.
• Loan products: Aven’s credit card allows you to tap into your home equity while offering cash rewards. All purchases you make with the Aven card will earn you unlimited 2 percent cash back.   
• Where to find it:  Aven is available in most U.S. states except Connecticut, Delaware, Georgia, Hawaii, Idaho, Indiana, Massachusetts, Missouri, Montana, Nevada, New York, Rhode Island, South Carolina, Texas, Vermont, Washington and West Virginia. The company has a goal of reaching all 50 states by 2025.

Aven scores 4.9 out of 5 for availability due to its unique home equity credit card, ability to earn 2 percent cash back and its reach across the majority of states in the U.S.

Borrower experience: 4.0/5

• Rate transparency: While you won’t see your APR until you receive your offer, Aven only performs a “soft pull” on your credit report, which doesn’t affect your credit score. (If you do accept the offer, a hard inquiry follows, which can temporarily impact your score.) 
• Convenience: Borrowers can use their Aven card to purchase anything wherever Visa cards are accepted. However, it can’t be used for cash withdrawals from an ATM or bank. 
• Customer service: The application process can be completed completely online and if you need support, Aven is reachable by phone, email, online form, online chat and text message.

Borrowers can use their card for purchases everywhere Visa is accepted and they offer multiple support options, giving Aven a 4 out of 5 for borrower experience.

While it’s a relative newcomer in the home equity lending space, Aven gets a 4.9 out of 5 review on Trustpilot.

What consumers say about Aven

Despite a few digs about “delayed response times,” customer reviews are largely glowing for Aven on Bankrate, especially for the “fast,” “simple” application process: “So easy to do, it's a no brainer for homeowners.”

Aven lets you take out as much as 89 percent of your home’s equity. You will also need to have a FICO and a Vantage credit score of at least 640; customers with higher scores will get better rates. 

You can get the card with equity tied to either a primary residence, second home or investment property, but the designated property can only have one mortgage attached to it at the time you apply.

If you obtain a credit line higher than $100,000, you’ll also need to add Aven and Coastal Community Bank as beneficiaries on your homeowners insurance policy. 

You can apply for an Aven HELOC card on Aven’s website, email them at support@aven.com or call 415-582-6613. The application process typically takes just 15 minutes, according to the website. Checking just to see if you qualify for the card will not affect your credit score.