LENDER DEEP-DIVE · AVEN VS SOFI · LAST VERIFIED JUNE 2026

Aven vs SoFi: Card-Style HELOC vs Fixed HEL (and SoFi's New 2026 HELOC)

Q: Is Aven or SoFi cheaper for home equity borrowing?

It depends on the product and how you draw. SoFi's fixed home equity loan starts around 6.99% APR and removes rate risk, but it is a single lump sum. Aven's HELOC Visa card runs roughly 7.49% to 14.99% variable for a primary residence (capped at 18%) and charges interest only on the drawn balance, so a borrower who draws incrementally can pay less in total. SoFi's own 2026 HELOC starts near 6.37% initial APR but carries a non-waivable $1,495 origination fee plus $1,500 to $3,200 in third-party closing costs, which Aven does not charge.

Q: What credit score do Aven and SoFi require?

Aven typically requires a FICO of 640 or higher, which is more accessible than most home equity lenders. SoFi generally requires 680 or higher and a debt-to-income ratio of 45% or less, with its lowest rates reserved for borrowers with scores in the 800s.

Q: Does Aven really pay 2% cash back?

Yes. The Aven Home Equity card earns unlimited 2% cash back on purchases, unusual among home equity products. A 2.5% fee applies to cash-outs and balance transfers, and there are no annual, origination, appraisal, or prepayment fees. SoFi does not offer cash back on its home equity products.

These two are easy to confuse as substitutes and they are not. Aven is a variable-rate HELOC you access with a Visa card. SoFi is best known for a fixed-rate home equity loan, and in April 2026 it added its own digital HELOC. The right answer depends on whether you want rate certainty or draw flexibility, how accessible the credit bar is, and whether an origination fee is a dealbreaker. Below is the product-by-product breakdown, with every figure verified against current lender disclosures and 2026 reviews.

The short answer

Pick Aven if you want a revolving line you can draw incrementally, a high CLTV ceiling (around 89 percent) at a relatively low credit bar (640+), no origination fee, and 2 percent cash back on purchases. You accept a variable rate (7.49 to 14.99 percent for a primary residence in June 2026, capped at 18 percent).

Pick SoFi if you have a defined lump-sum need and want fixed-rate certainty: its home equity loan starts around 6.99 percent APR with no required origination fee for many borrowers. SoFi's separate 2026 HELOC starts near 6.37 percent initial APR but adds a non-waivable $1,495 origination fee plus $1,500 to $3,200 in third-party closing costs and a short three-year draw period. SoFi needs a 680+ score; Aven accepts 640+.

Side-by-Side

Feature	Aven (HELOC card)	SoFi HEL	SoFi HELOC (2026)
Product type	Variable HELOC, card access	Fixed-rate lump sum	Variable HELOC, digital
Starting / range APR	7.49-14.99% (primary, capped 18%)	From ~6.99% fixed	From ~6.37% initial
Rate type	Variable (prime-linked)	Fixed	Variable
Draw period	Up to 30 years	N/A (lump sum)	3 years
Max CLTV	~89%	Up to ~90%	Up to 90% ($500k max)
Credit minimum	640+	680+	680+
Origination fee	$0	$0 for many borrowers	$1,495 (non-waivable)
Other closing costs	$0	Minimal	$1,500-$3,200 third-party
Cash back	2% on purchases	None	None
Cash-out / BT fee	2.5%	N/A	N/A
Best for	Incremental draws, flexibility	Fixed-rate lump sum	All-digital revolving line

Figures verified June 2026 against lender disclosures and current NerdWallet, Bankrate, and LendEDU reviews. Variable rates move with the prime rate; verify the exact rate you qualify for with each lender before applying.

Aven: A Variable HELOC in a Visa Card

Aven's product is a home equity line of credit secured by your home, but you access it with a Visa card instead of checks or wire transfers. The APR for a primary residence runs roughly 7.49 to 14.99 percent variable in June 2026, tied to the prime rate and capped at 18 percent; enrolling in autopay cuts the rate by 0.25 percent. Credit lines range from 5,000 to 400,000 dollars (capped at 100,000 in a handful of states), CLTV reaches around 89 percent, and the credit minimum is 640 - both more accessible than most lenders.

Aven charges no annual, origination, appraisal, or prepayment fees and pays unlimited 2 percent cash back on purchases (a 2.5 percent fee applies to cash-outs and balance transfers). Because it is a line, interest accrues only on the drawn balance, which suits phased spending. The flip side: card-style access makes drawing easy, so borrowers who want strict draw discipline get less friction than a traditional HELOC provides, and the variable rate carries reset risk if prime climbs.

SoFi: A Fixed HEL, Plus a New 2026 HELOC

SoFi's established home equity product is a fixed-rate home equity loan: a single lump sum with a fixed APR starting around 6.99 percent, repaid over a set term. Many borrowers pay no origination fee. It removes rate risk entirely, which is its main appeal over a variable HELOC, but you take the full amount up front and pay interest on all of it from day one. The credit bar is 680+ with a debt-to-income ratio of 45 percent or less, and the lowest advertised rates go to scores in the 800s.

In April 2026 SoFi launched its own fully digital HELOC. It opens near 6.37 percent initial APR, reaches up to 90 percent CLTV (maximum 500,000 dollars), and offers 10-to-30-year terms - but the draw period is only three years, far shorter than the ten years most HELOCs offer, and it carries a non-waivable 1,495 dollar origination fee plus 1,500 to 3,200 dollars in third-party closing costs. Note that some SoFi HELOCs are brokered through partner Spring EQ rather than originated by SoFi directly; when that happens the SoFi member rate discount does not apply.

Which Fits Your Situation

Choose Aven for a phased renovation across multiple vendors, day-to-day standby liquidity, a high-CLTV need at a 640-to-700 credit profile, or if 2 percent cash back and zero origination fee matter more than locking the rate. The trade-off is variable-rate exposure and the temptation of frictionless card draws.

Choose SoFi's HEL for a known lump-sum cost (a single-contractor remodel, a defined debt-consolidation balance) where you want fixed payments and no rate risk. Consider SoFi's HELOC only if you specifically want an all-digital revolving line from SoFi and can absorb the 1,495 dollar origination fee - otherwise Aven's no-fee structure usually wins on a HELOC-to-HELOC comparison, while the SoFi HEL wins when certainty is the priority. As always, get at least three quotes and compare on APR, not headline rate.

Frequently Asked Questions

Is Aven or SoFi cheaper for home equity borrowing?

It depends on the product and how you draw. SoFi's fixed HEL starts around 6.99% APR and removes rate risk but is a single lump sum. Aven's HELOC card runs roughly 7.49% to 14.99% variable for a primary residence (capped at 18%) and charges interest only on the drawn balance, so incremental drawers can pay less in total. SoFi's 2026 HELOC starts near 6.37% initial APR but adds a $1,495 origination fee plus $1,500-$3,200 in closing costs, which Aven does not charge.

Does SoFi offer a HELOC or only a home equity loan?

Both, as of 2026. SoFi has long offered a fixed-rate home equity loan. In April 2026 it launched a fully digital HELOC with an initial APR from about 6.37%, up to 90% CLTV (max $500,000), a three-year draw period, and a $1,495 origination fee. Some SoFi HELOCs are brokered through partner Spring EQ.

What credit score do Aven and SoFi require?

Aven typically needs a FICO of 640 or higher; SoFi generally needs 680 or higher with a DTI of 45% or less. SoFi's lowest rates are reserved for scores in the 800s.

Does Aven really pay 2% cash back?

Yes - unlimited 2% cash back on purchases, unusual for a home equity product. A 2.5% fee applies to cash-outs and balance transfers, and there are no annual, origination, appraisal, or prepayment fees. SoFi does not offer cash back on its home equity products.

Can I convert an Aven or SoFi HELOC to a fixed rate without refinancing?

Neither offers a Fixed-Rate Lock Option on its HELOC. To move an Aven balance to a fixed rate you would refinance into a fixed HEL (for example, SoFi's). SoFi's HEL is already fixed. See our converting-to-fixed page for the lenders that do offer a fixed-rate lock.

Keep Reading

Full lender shootout: 7 lenders Aven vs Discover (HEL, now closed)Figure: alternative digital HELOC Convert a HELOC to a fixed rate Rate math: when variable beats fixed Fees and early-payoff penalties

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. Rates current June 2026. By Oliver Wakefield-Smith.