Is Aven or SoFi better for a HELOC?

It depends on credit and equity. Aven accepts lower credit (around 640+) and reaches a higher CLTV (around 89 percent), and accesses the line through a Visa card with a short 5-year draw. SoFi typically wants 680+ and more retained equity, but allows a larger maximum loan (up to 500,000 dollars), a longer draw of up to 10 years, and the option of a fixed-rate HEL instead. Aven suits high-CLTV or lower-credit borrowers who value card-style flexibility; SoFi suits prime borrowers who want a larger line or fixed-rate certainty.

Is Aven a credit card or a HELOC?

Aven is a HELOC accessed through a Visa credit card. The underlying loan is a home-equity-backed line of credit, so it carries HELOC rates (roughly 6.75 to 14.35 percent variable as of June 2026), not credit-card rates, and is secured by the home. Card purchases earn cashback; moving cash to a bank account carries a draw fee.

Does SoFi offer a fixed-rate home equity loan?

Yes. Alongside its new variable HELOC, SoFi offers a fixed-rate home equity loan with rates starting around 6.99 percent and loan amounts of roughly 50,000 to 350,000 dollars at up to 85 percent CLTV. Aven does not offer a fixed-rate lump-sum loan; its product is a variable card-style HELOC only.

LENDER DEEP-DIVE · AVEN VS SOFI · REVIEWED JUNE 2026

Aven vs SoFi: Card-Style HELOC Against SoFi's New HELOC and Fixed HEL

Both Aven and SoFi are fintech-forward home-equity lenders, but they are built for different borrowers. Aven is a single product: a variable-rate HELOC accessed through a Visa card, reaching high CLTV at a relatively low credit bar. SoFi is a product family: a fully digital HELOC it launched in April 2026, plus a long-running fixed-rate home equity loan. This page compares credit requirements, equity needs, loan size, rate structure, and fees, then maps each to the borrower it actually fits.

Aven: Card-Style Variable HELOC

Aven Financial offers a HELOC accessed through a Visa credit card rather than checks or wire transfers. The underlying loan is a home equity line of credit secured by the borrower's home; the card simply provides access. Published APRs run roughly 6.75 to 14.35 percent variable as of June 2026, depending on credit, CLTV, line size, and state. See aven.com for current pricing.

Key features: maximum CLTV around 89 percent (high relative to most HELOC competitors); a five-year draw period with repayment up to 30 years; no annual fee and no origination fee; 640+ credit minimum; 7 to 10 business day funding. Card purchases earn cashback, while moving cash to a bank account carries a draw fee (around 2.5 percent). The card-style access is convenient for multi-vendor projects and standby liquidity, but it makes drawing easy in a way that can undermine strict draw discipline.

SoFi: New Digital HELOC Plus a Fixed HEL

SoFi historically offered home equity products mainly through partner lender Spring EQ, but on April 22, 2026 it launched its own fully digital HELOC. That HELOC reaches up to 90 percent CLTV with loan amounts of roughly 50,000 to 500,000 dollars, typically requiring 15 to 20 percent equity, a variable rate, a draw period up to 10 years, and repayment up to 20 years. See sofi.com/home-loans/heloc for current terms.

SoFi also continues to offer a fixed-rate home equity loan: a lump sum starting around 6.99 percent fixed, roughly 50,000 to 350,000 dollars at up to 85 percent CLTV. So a SoFi borrower can pick a revolving variable HELOC or a fixed lump-sum HEL on one platform. Credit expectations are generally 680+, and some products are brokered through Spring EQ. SoFi does not disclose exact rates, origination fees, or closing costs until application, which limits up-front cost transparency.

Side-by-Side

Feature	Aven	SoFi
Products	Variable HELOC (card access)	Variable HELOC + fixed HEL
Rate type	Variable	Variable (HELOC) or fixed (HEL)
HELOC APR (Jun 2026)	6.75-14.35%	Disclosed at application
Fixed HEL start rate	Not offered	~6.99%
Maximum CLTV	~89%	90% (HELOC), 85% (HEL)
Loan / line size	Varies	50,000-500,000 (HELOC)
Minimum equity	~11%	15-20%
Draw period	5 years	Up to 10 years
Credit minimum	~640	~680
Annual fee	0	Not disclosed
Access method	Visa credit card	SoFi platform / disbursement
Best for	High CLTV, lower credit, card flexibility	Larger lines, fixed-rate option, SoFi members

Product structure reviewed June 2026; APRs are indicative and move with the prime rate. Verify current terms with the lender before applying.

When to Pick Aven

Choose Aven if your credit is in the 640 to 680 range, if you need high CLTV (up to around 89 percent) where most lenders cut off lower, or if card-style access and fast funding matter more than rate certainty. Aven is well suited to phased renovations across multiple vendors and to day-to-day standby liquidity, where the convenience of drawing on a Visa card is an advantage. The trade-off is a short five-year draw period and a variable rate with no fixed-rate option.

When to Pick SoFi

Choose SoFi if your credit is 680+ and you have enough retained equity (15 to 20 percent), especially if you want a larger line (up to 500,000 dollars), a longer 10-year draw, or the option of a fixed-rate HEL for payment certainty on a known lump-sum need. SoFi members who already use the platform for banking or loans may value the integrated experience. The main caveats are that the HELOC is new with a limited track record and that SoFi discloses exact rates and fees only at application.

Frequently Asked Questions

Does SoFi offer a HELOC in 2026?

Yes. SoFi launched a fully digital HELOC on April 22, 2026, reaching up to 90 percent CLTV and roughly 50,000 to 500,000 dollars, typically needing 15 to 20 percent equity. It is variable-rate with a draw period up to 10 years. SoFi also still offers a fixed-rate home equity loan starting around 6.99 percent.

Is Aven or SoFi better for me?

Aven fits lower-credit (640+) or high-CLTV borrowers who want card-style flexibility and fast funding. SoFi fits prime borrowers (680+) who want a larger line, a longer draw, or a fixed-rate HEL option. If you specifically need fixed-rate certainty on a known lump sum, only SoFi offers that here.

Can I get a fixed rate with Aven?

No. Aven's product is a variable-rate card-style HELOC. If you want a fixed rate, SoFi's fixed home equity loan (from around 6.99 percent) or a credit-union HEL is the better route. See our converting-to-fixed page for how fixed-rate lock options work at other lenders.

Do Aven and SoFi report to credit bureaus as a mortgage or a credit card?

Both are home-equity products reported as mortgage-type tradelines, not revolving credit cards, even though Aven is accessed via a Visa card. This avoids the high-utilisation reporting that would otherwise affect credit scores. Verify current reporting behaviour in each lender's product disclosure.

Keep Reading

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Not mortgage advice. Independent overview only; not endorsed by or affiliated with Aven or SoFi. Verify product details at the lender's website at time of application. Reviewed June 2026.