Aven allows refinancing of existing HELOCs by using part of its credit limit to pay off the 2nd lien, converting the balance into fixed monthly payments with a fixed interest rate. Remaining credit can be used for purchases, cash outs, or balance transfers.
Aven can refinance your existing HELOC using a portion of your Aven credit limit to pay off the existing 2nd lien HELOC (or loan) - this balance is placed and paid back on a fixed monthly payment plan with a fixed interest rate. Once the existing lien is paid off, borrowers can use the remaining Aven credit limit for purchases, cash outs, or balance transfers.
To learn more about the Aven Card Refinance process, watch the video below: https://vimeo.com/1126324739/e6949aa493?share=copy#t=0