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Before You Apply

Is Aven a credit card or a home equity line of credit?

It is both! Aven is a home equity line of credit that customers access through a credit card. Aven cardholders can use their ...

What are the eligibility criteria for applying for Aven?

Aven's bank-standard underwriting system is fully automated and generates an offer based on an applicant's income, equity, cr...

How do you verify income?

Aven can verify income by securely connecting an applicant's bank account, or reviewing uploaded documents including Form 104...

Will applying affect or impact my credit score?

When you apply for an Aven card, we perform a “soft pull” on your credit in order to determine an offer. This does NOT impact...

What if I am self-employed?

Aven accepts self-employed applicants. For further information regarding income verification, click here.

What is HMDA?

Section 1003.4(a)(10) of the Home Mortgage Disclosure Act requires all mortgage lenders to collect various consumer data, inc...

Can I pay off an existing HELOC with the Aven Card?

Aven offers a HELOC refinance product for qualified applicants.

What credit score or FICO score do you use?

Aven uses FICO V9 and VantageScore 4.0 from Experian, a top credit reporting agency

Why do I have to wait the 3 business cancellation or rescission period?

Consumer protection regulations require that applicants be given three business days to cancel the account because of the sec...

Can I apply or be eligible if my home is in a flood hazard zone?

Yes, Aven does support properties in flood zones. Applicants will be required to submit proof of active flood insurance durin...

Are you a bank or FDIC insured? Who provides the credit?

We are partnered with Coastal Community Bank, member FDIC, pursuant to license by Visa USA Inc. You benefit from our innovati...

What happens if I want to refinance?

  There are generally two situations of refinancing: Aven customer wants to refinance their first mortgage while keeping the...

What happens when a house is sold?

Your settlement agent will send Aven a payoff request. Aven will close the account and release the lien when the balance is p...

Do mortgage payments have to be current

Aven's underwriting system looks at mortgage payment history to determine an applicant's eligibility. The system will not acc...

How long is the offer valid for?

Applicants have 30 calendar days to accept and finish signing, after which the offer will expire. If additional information s...

How does someone cancel their application?

Applicants offers will expire on its own after a period of inactivity. There is no need to explicitly cancel an application.

Can I get approved if I have had a recent bankruptcy?

Aven's automated underwriting system looks for 12 months to have passed since a Bankruptcy discharge/dismissal, at least 24 m...

Can I get another HELOC if I have an Aven account?

Aven has no control on other lenders' approval processes. If someone has an Aven account and wishes to open another HELOC the...

Will debt consolidation improve my chances for approval?

Aven's bank-standard underwriting system is fully automated and generates an offer based on an applicant's income, equity, cr...

Is the Aven Card Tax Deductible?

The Aven Home card is a Home Equity Line of Credit. Aven will issue Form 1098s on all accounts where there is $0.01 or more o...

What is Aven reported as to the Credit Bureau?

The Aven Card will be reported as a Home Equity Line of Credit.