Aven HELOC Review 2025
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Our Take
5.0
Aven combines a HELOC with a credit card featuring unlimited 2% cash back — considered an “excellent” flat rate by NerdWallet’s credit card experts. Aven also offers funding in as few as three days, which is much faster than most HELOC lenders. Other HELOCs also offer a card that customers can use to access their funds, but rewards like Aven’s are not typical.
Pros
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Will either beat other lenders’ HELOC rate offers or pay $250.
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No origination or annual fees.
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Repayment period up to 30 years.
Cons
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Draw period is only five years; industry standard is 10 years.
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Not available for second homes.
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No introductory rate offer.
Full Review
Aven HELOC Rates
HELOC rates are determined by two things. The first is the prime rate, which is what banks pay to borrow from one another. The second part is a margin, which the lender calculates based on your financial qualifications (including your credit score, existing debts and income). The prime rate plus your margin equals your HELOC rate offer.
Current prime rate | Prime rate last week | Prime rate in the past year — low | Prime rate in the past year — high |
|---|---|---|---|
7% | 7% | 7% | 8% |
Aven advertises sample rates online, though they are not customizable.
👍 Reasons to get an Aven HELOC
Aven’s HELOC stands out among typical home equity lenders for giving borrowers 2% cash back on withdrawals from their credit line, as well as for its offer to beat other HELOC offers or pay $250. Aven also offers fast funding — money can be available in as few as three days, compared to the 24-day average time to close among lenders surveyed by NerdWallet in 2025.
Aven has a maximum borrowing limit of 89% CLTV, which is higher than what you’ll find at many lenders. It also offers a fixed-rate repayment option, as well as no annual or origination fees. There are no initial draw requirements.
» MORE: Best HELOC lenders
🤔 Reasons why Aven’s HELOC gives us pause
Borrowers only have five years to draw from the line of credit. There is also a 2.5% fee for all balance transfers. HELOCs are not available for second homes.
While Aven HELOCs have repayment terms up to 30 years, the draw period is only five years — half as long as what you’ll find at most lenders.
Like all HELOCs, because the card is secured by your home, you risk foreclosure if you can’t keep up with payments.
📎 Ways to apply for an Aven HELOC
How to Apply | Availability |
|---|---|
Online 🧑💻 | ✅ |
Over the phone 📞 | ✅ |
Mobile app 📶 | ✅ |
In person 🏦 | 🚫 |
You can contact Aven customer service via online bot chat or by requesting a call back from an agent.
🛒 Alternatives to a Aven HELOC
Wondering if another lender or product might be a better fit? It’s worth it to shop around to learn more about your options.
Borrowers who need fast funding may be a fit for Figure, which offers funding in as few as five days. If you like Aven’s high borrowing limit, TD Bank’s HELOC has a maximum CLTV of 89.9%.
If you’re looking for a rate discount, FourLeaf Credit Union offers an introductory rate below prime for the first 12 months.
A HELOC isn’t your only option
You can also explore products outside of HELOCs. Alternatives to home equity lines of credit include a home equity loan, which offers a lump sum with a fixed rate, or a cash-out refinance, which replaces your existing mortgage with a larger loan.
Aven currently does not offer either of these loan options.
Borrow from your home’s equity
NerdWallet’s HELOC star ratings are independently researched and developed by the editorial team based on the following factors: HELOC lending volume, maximum combined loan-to-value ratio, whether a fixed-rate option is available, initial draw requirements, flexibility of draw and repayment terms, average time to close, interest rate transparency, length of any introductory term below the prime rate, lender fees, availability for second homes, application availability and customer support options. Lenders can receive bonus points for offering options for HELOC rate discounts. A recent regulatory action against a lender may affect its HELOC star rating.
