Close an Aven HELOC through the app or online payoff function. After full payment settles, Aven closes the account at the next billing cycle and sends the lien release. Wire payments are strongly recommended to avoid delays. Overpayment refunds follow specified processing and delivery timelines.
To close an Aven HELOC account, please use the payoff function in the Aven app or online. Once Aven receives and processes payment for the full payoff amount and the payment settles (i.e. the payment can no longer be reversed), Aven will close the account at the next billing cycle date and send the lien release to the county recorder.
We strongly recommend that you send your account payoff funds by wire. Any other mode of payment will significantly delay the lien release (often by at least 60 days) as we wait for the funds to settle. Aven is not responsible for missed closings, rate lock expirations, or any other situations that arise due to any delays in account closures or lien removals. We encourage you to allow for enough time for payments to settle and for recording offices to process any lien release.
If the payoff results in an overpayment and leaves a credit balance on the account, Aven will refund the credit balance to the verified bank account on file. If no bank account is available, Aven will mail a check. For balances less than $5,000, Aven waits 2 business days after the post-closure billing cycle date to process the refund; for balances of $5,000 or more, Aven waits 30 calendar days after the post-closure billing cycle date to process the refund. Checks may take 7–10 business days to arrive, and funds sent to the bank account may take 1–2 business days to post after processing.