There are generally two situations of refinancing:
- Aven customer wants to refinance their first mortgage while keeping the Aven card open and active. In this case, Aven will work with the customer's first mortgage lender to complete a subordination agreement.
- Aven customer wants to payoff and close the Aven account. In this case, the Aven customer needs to submit a payoff quote request from the Aven app or online. Please note that when Aven receives the payoff request, the account will be blocked from further charges. This is done to prevent the account balance increasing beyond the payoff quote.