For applications using primary residences, the applicant (and co-applicant if there is one) needs to be a US resident, have a FICO score of at least 620, a VantageScore of at least 620, a combined loan to value under 89%, and demonstrate a sufficient income.
All signers (applicants and/or co-owners) must be at least 18 years of age or older and complete an application.
All signers must possess valid government issued identification documents specified by Aven.
For applications using second homes or investment properties, there are additional requirements.
For lines above $100,000, borrowers need to provide proof of insurance and proof of adding Aven/Coastal Community Bank as a beneficiary on the policy.
Aven's bank-standard underwriting system is fully automated and generates an offer based on an applicant's income, equity, credit, and debt obligations.
