100% onlineAPPLICATION
Start your Aven application online through Lance’s link. The lender reviews your information, eligibility and required documents.
AVEN CASH HOME EQUITY LINE OF CREDIT
Home equity.
For smart
homeowners.
A roof replacement, a remodel or a plan for higher-interest debt. Explore Aven Cash and see how home equity could help fund what matters to you.
Available through the Averra broker channel with Lance Morgan. For eligible second-lien financing, your existing first mortgage may stay in place.
Opens Aven’s application in a new tab.
A HELOC is secured by your home. Failure to repay can result in foreclosure. Approval and terms depend on eligibility.
Card illustration. Any card access and features are subject to the terms of your approved account.
See what Aven customers say.
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A MORE DIRECT WAY TO GET STARTEDHome equity.
See the details Home equity.
Less runaround.
Digital signingAVAILABLE IN MOST STATES
Sign electronically where available. Signing requirements can vary by state and transaction.
Personal guidanceFROM LANCE
Talk through your goals, the costs and the repayment obligations before deciding.
Redraws depend on available credit, continued eligibility and account terms. The approved line is drawn in full at origination. An initial-draw fee applies and is added to the balance. Interest and other applicable costs still apply. Review your actual offer before deciding.
MAKE ROOM FOR THE THINGS THAT MATTERPut your equity
Put your equity
to work.
Start with the project or balance you want to tackle. Then compare the cost of borrowing.
Replace the roof.
Plan for a major home repair with the full project budget in view. Aven Cash may be an option for eligible homeowners who want to finance the work.
Remodel your space.
Update the kitchen, rework the bathroom or make your home fit the way you live. Compare the cash you need with the payment and financing costs.
Pay off higher-interest debt.
Bring eligible balances into one plan and compare the full cost. A lower rate or payment doesn’t automatically mean lower total interest.
Consolidating unsecured debt into home-secured borrowing puts your home at risk. Fees and a longer repayment period can affect your total cost.
WHAT COULD QUALIFY?Different homes.
Different homes.
Different possibilities.
Explore five examples for different properties and credit profiles. These show possible program limits, subject to lender approval. Your available amount depends on credit, income, existing property debt, property value and eligibility, and other underwriting requirements.
For a home you live in.
Owner-occupied means the home is your residence. These are examples, not a promise that a particular credit score qualifies.
OWNER-OCCUPIED EXAMPLE
Up to $100,000
A smaller line with an automated property valuation.
- Example credit score
- 740+ FICO
- Combined loan-to-value
- Up to 89%
- Debt-to-income ratio
- Up to 55%
- Property valuation
- Automated valuation (AVM)
740 is shown as an example, not the program’s minimum credit score. Ask about other available tiers.
OWNER-OCCUPIED EXAMPLE
Up to $150,000
An example for a home you live in with a lower credit score.
- Credit score range*
- 620–679 FICO
- Combined loan-to-value
- Up to 75%
- Debt-to-income ratio
- Up to 50%
- Property valuation
- Automated valuation (AVM)
Credit score alone does not establish eligibility. Co-borrower score requirements also apply; see the notes below.
OWNER-OCCUPIED LARGER-LINE EXAMPLE
Up to $1,000,000
A larger line with additional appraisal requirements.
- Example credit score
- 760+ tri-bureau FICO
- Combined loan-to-value
- Up to 80%
- Debt-to-income ratio
- Up to 50%
- Lines above $400,000
- Full appraisal required
Lines above $400,000 are unavailable in Arkansas, Idaho, Louisiana, New Mexico, Oklahoma, South Dakota and Wyoming.
For a property you own but don’t live in.
Non-owner-occupied may include an eligible rental property. The property must have been owned for at least 12 months. Individual or personal revocable-family-trust ownership may qualify; LLCs and other business/entity ownership are ineligible.
NON-OWNER-OCCUPIED EXAMPLE
Up to $250,000
A possible tier for an eligible residential property you own but do not live in.
- Credit score range*
- 720–850 FICO
- Combined loan-to-value
- Up to 75%
- Debt-to-income ratio
- Up to 50%
- Property valuation
- Automated valuation (AVM)
Eligible individual or personal revocable-family-trust ownership only. LLCs and other business/entity ownership are ineligible.
NON-OWNER-OCCUPIED EXAMPLE
Up to $100,000
Another possible tier for an eligible non-owner-occupied residential property.
- Credit score range*
- 680–720 FICO
- Combined loan-to-value
- Up to 70%
- Debt-to-income ratio
- Up to 45%
- Property valuation
- Automated valuation (AVM)
Eligible individual or personal revocable-family-trust ownership only. LLCs and other business/entity ownership are ineligible.
*At a 720 FICO score, ask Lance to confirm the applicable non-owner-occupied tier.
Credit and property requirements: These are program examples, not offers or guarantees of approval. For applications with co-borrowers on lines up to $400,000, each borrower must have FICO and Vantage scores above 620. For lines above $400,000, each co-borrower must have a tri-bureau FICO score above 760. Properties purchased within the last 90 days are ineligible. Automated valuation must satisfy the lender’s requirements. Current lender guidelines control.
First or second lien: Either position may be available, subject to program requirements. Keeping an existing first mortgage applies to eligible second-lien financing.
The borrowing structure still matters: The approved line is drawn in full at origination, and an initial-draw fee is added to the loan balance. Your home secures the debt; failure to repay can result in foreclosure. Other property, geographic and program restrictions apply.
What do these terms mean?
CLTV: all property loans compared with the home’s value
Combined loan-to-value compares the total debt secured by the property, including the proposed home-equity line, with the property value accepted by the lender. The limit applies to the combined debt, not just the new line.
For illustration, a $250,000 existing mortgage plus a $125,000 proposed line on a $500,000 property equals 75% CLTV, assuming no other liens or financed charges. This example is not a loan offer.
DTI: monthly debt payments compared with income
Debt-to-income compares qualifying monthly debt payments, including the proposed payment, with qualifying monthly income before taxes. The lender determines which income and obligations count.
For illustration, $4,000 in monthly debt payments divided by $8,000 in qualifying monthly income is 50% DTI.
AVM: a computer-based property value estimate
An automated valuation model uses property data to estimate value electronically. Lines up to $400,000 use an AVM process, subject to lender acceptance. Lines above $400,000 require a full appraisal.
Credit score: one part of the approval review
A credit score describes part of your credit profile. It does not guarantee approval or the maximum line amount. The lender also reviews income, debts, property, ownership and the other requirements that apply to your offer.
UNDERSTAND THE STRUCTURECash up front.
Cash up front.
A plan to pay it back.
This page covers Aven Cash through Averra’s broker channel, including a full initial cash draw and fixed-rate repayment plan.
The initial line is drawn in full.
Your approved line is fully drawn at origination. This is different from opening a line and drawing only small amounts as you go.
The draw has a fixed-rate payment plan.
The initial cash draw is placed into a fixed-rate payment plan. Review your actual offer for the rate, payments and repayment terms.
Later access has conditions.
Additional draws may become available as you repay, subject to eligibility and program requirements. Future access and terms aren’t guaranteed.
THE DETAILS MATTERLook beyond
Look beyond
the cash amount.
Account for the fee.
An initial-draw fee applies and is added to the loan balance. Review that fee and all other costs in your offer before committing.
Check the property and eligibility.
Eligible primary homes, second homes and investment properties may qualify. Property type, location, equity, credit, income and other program requirements affect availability and terms.
Keep the home risk in view.
This debt is secured by your home. Missing required payments can lead to foreclosure. Consider the total cost and payment obligations, not just the amount available to borrow.
CLEAR ANSWERSBefore you
Before you
take the next step.
Do I have to refinance my first mortgage?
For eligible second-lien financing, you may be able to access equity while keeping your existing first mortgage in place. You remain responsible for both obligations. We’ll compare the structure with other options for your situation.
Can I take only a small initial draw?
This broker-channel Aven Cash program requires a full initial draw of the approved line. If you want to draw only what you need over time, let’s discuss whether another home equity option better fits that goal.
Is this the Aven credit card?
The cash-first program described here has different terms from Aven’s public card-first offer. It includes a full initial cash draw and a fixed-rate repayment plan within a HELOC. Use the disclosures for your actual offer. Any card-purchase balance has a variable rate.
What will my rate, payment and fees be?
Those details depend on your eligibility and actual offer. An initial-draw fee applies. Review all costs, the funds you’ll receive and the repayment terms in the lender’s disclosures before deciding. No rate, payment or savings is promised here.
Will I be able to draw again later?
Additional draws may be available as you repay, subject to program requirements and continued eligibility. Rates for later cash draws are set when each draw is made. Don’t rely on future access being available when you need it.
What’s the best place to start?
Tell Lance what you’re trying to accomplish and the questions you want answered. You can start an application with Aven, call Lance or book a time below. Please don’t send financial documents or sensitive personal information by text or email.
ONE CONVERSATION. A CLEARER NEXT STEP.Let’s see if
Let’s see if
it makes sense.
I’ll help you understand the structure, the costs and the questions to ask before you borrow.
Lance Morgan
Senior Loan Officer · NMLS #742281
Seattle Wholesale Mortgage, powered by O C Home Loans Inc.
Opens Aven’s application in a new tab. Prefer to plan ahead? Book a time with Lance.
425.541.7190
Important program information
This overview is for Aven Cash offered through the Averra broker channel. It is not an application, loan approval or commitment to lend. Eligibility, property and geographic restrictions apply. Actual availability, rates, payments, fees and terms are determined by the lender and disclosed with your offer. Terms may change.
A HELOC is secured by your home, and failure to repay can result in foreclosure. An initial-draw fee applies and is added to the loan balance. The approved line is drawn in full at origination. Later draws are subject to eligibility and program requirements. Review the lender’s current consumer disclosures before accepting an offer.