Aven Introduces New Financing Product Aiming for Seven-Day Home Purchases

Financial technology company Aven announced a new Home Purchase Line designed to reduce the timeline from application to closing to as little as seven days for qualified buyers, who can borrow up to $2 million.

According to the company, the seven-day timeline starts when a buyer applies to finance a selected home and concludes when the sale closes. By comparison, industry data from June 2025 by ICE Mortgage Technology indicated that a conventional mortgage loan took an average of 42 days to close. Aven reported that it recently completed a home purchase transaction in Tucson, Arizona, in 67 hours from application to closing.

How the Home Purchase Line Works

• Borrowing Limit: Qualified buyers can borrow up to $2 million.
• Structure: The product is a line of credit secured by the home being purchased, combining a 30-year repayment term inside an open-end line of credit.
• Repayment: Borrowers make fixed monthly payments with a fixed interest rate and retain access to available credit after closing for reuse.
• Eligibility: Buyers do not need to be existing homeowners to qualify. Aven evaluates both the borrower and the property during the process.

Technology and Leadership Perspective

Aven stated that applicants can receive preapproval in minutes through its digital infrastructure. Co-founder and CEO Sadi Khan commented on the initiative, noting that the company aims to simplify complex financial products for consumers through technology.

Verification and Practical Implications

• Verification: Interested homebuyers can review official details and terms directly at the company's website, aven.com/home-purchase.
• Disclaimers: Aven is a financial technology company rather than a bank. Banking services are provided by Coastal Community Bank, Member FDIC.
• Additional Products: The firm also offers other financial services, including high-yield checking accounts, home improvement loans, and its flagship Home Equity Visa Card.