The digital personal finance Achieve announced the expansion of its home equity line of credit (HELOC) program to allow for loan amounts of up to $300,000 and new repayment terms of 20 and 30 years.
Achieve’s HELOCs will continue to feature fixed interest rates, fully amortizing payments and a prompt origination and funding process that allows consumers to be funded in as little as 10 days. The company stated it has helped nearly 20,000 homeowners access over $1 billion in home equity since 2019.
“When we launched our HELOC offering five years ago, there hadn’t been much innovation in home equity lending since before the Great Recession,” said Kyle Enright, Achieve president of lending. “We set out to change that by developing a program that emphasized consumer-friendly features and credit quality that would earn the confidence of both homeowners and capital markets investors. These latest program enhancements will provide more flexibility and choice for homeowners seeking to access their home equity, while continuing to allow them to do so in an easy-to-understand and responsible manner.”
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