About Achieve Home Loans

At Achieve Loans, you can take advantage of their home equity lines of credit (HELOCs). These are designed for individuals dealing with high-interest debts such as credit card debt. By obtaining a HELOC from Achieve, you can combine all your high-interest debts into a single monthly payment. Their HELOC comes with a fixed annual percentage rate and offers loan terms of either 10 or 15 years.

What is Achieve Loans?

At Achieve Loans, they offer HELOCs (Home Equity Lines of Credit) that homeowners can use for various purposes. Whether you need to consolidate debt, renovate your home, or fund your education, Achieve Loans has you covered. While they often promote their HELOCs for debt consolidation, you have the flexibility to use the funds for other needs as well.

If you own a home and find it challenging to manage multiple high-interest credit card balances, a HELOC (Home Equity Line of Credit) can be a solution for you. With a HELOC from Achieve Loans, you can combine all your monthly payments into one, which can often come with a lower interest rate. Achieve Loans claims that their customers save an average of over $700 per month on debt payments by consolidating with them.

When you choose an Achieve HELOC, you can access funds by using the equity in your home. You have the option to open a line of credit that lasts for either 10 or 15 years. The amount you can borrow with Achieve will be determined by factors such as the amount of equity you have in your home. Achieve offers HELOCs with borrowing limits of up to $150,000.

Achieve Loans, previously known as Lendage, started in 2019 and is located in San Mateo, California. It is a part of the larger Achieve family of companies, which has proudly served more than 1 million customers throughout its history.

Achieve Loans – How it works?

Getting a HELOC with Achieve is a straightforward process that involves four simple steps:

Consultation: You can have a chat with one of Achieve’s mortgage advisors who will provide a free assessment to determine if you’re eligible for a loan. The pre-qualification process takes just two minutes or even less.

Achieve Home Loan Rates

At Achieve, the APRs for their HELOCs currently range from 10.25% to 17%. It’s important to note that depending on your location, there may be fees involved when opening a HELOC. These fees will vary, so it’s a good idea to inquire with Achieve about the specific fees applicable to your situation.

Origination Fee: Achieve requires a payment of 2.5% of the credit limit minus any applicable fees. This payment is due upfront and helps cover the costs associated with opening the HELOC.

Underwriting Fee: At the time of closing and as part of the initial draw amount, Achieve requires a payment of $685.

Third Party fee: The fees associated with the loan amount can range from $750 to $6,685, depending on how much you borrow.

Choose automatic payments from a deposit account to lower your APR by 0.50%.

Comparison: Your advisor will provide you with a detailed analysis of your loan options. They will discuss important information such as the loan amount, monthly payments, interest rate, the ability to consolidate your debt, and the overall cost to you. This analysis will help you make an informed decision.

Application process: Applying for a loan with Achieve is quick and easy, taking just a few minutes of your time. After you submit your application, the Achieve team will promptly gather and verify your information. Within a few days, they will review your application and make a decision.

Quick Closing: In as little as two weeks, they can finalize the necessary steps and provide you with access to your line of credit. This means you can start using your funds sooner and achieve your financial goals faster.

After getting approved for the HELOC, you’ll have a 60-month draw period. This means you can use the line of credit to consolidate your debt and make payments as needed. If you change your mind about the Achieve HELOC, you have a three-business-day window after signing the closing documents to cancel the agreement. This ensures you have time to reconsider your decision and make the choice that best suits your financial needs.

With Achieve, you won’t face any prepayment penalties. This means you can make additional payments beyond the minimum required amount whenever you want, without worrying about any extra fees. It gives you the flexibility to pay off your loan faster and save on interest without any financial penalties holding you back.

Is Achieve Home Loans Legit?

Achieve Loans is a trusted provider of HELOCs, and their offerings can be beneficial for homeowners seeking to consolidate high-interest debt from multiple credit cards. With an Achieve HELOC, you can borrow up to $150,000 and repay it over a fixed period of either 10 or 15 years. It’s important to note that a HELOC is secured by your home, so it’s crucial to meet your repayment responsibilities to avoid the risk of losing your home. If you’re interested, you can reach out to Achieve for a complimentary consultation with one of their mortgage advisors.

Final Thoughts

With Achieve’s HELOC, you’ll have a fixed interest rate, which is great for combining your high-interest credit card debts into a single monthly payment. It’s important to remember that Achieve Loans will use your home as collateral for the loan, so make sure to keep that in mind.

The availability of various loan repayment terms offers borrowers the flexibility to select the most suitable option for their upcoming home purchase or refinance. Additionally, AmeriSave’s streamlined application process facilitates a faster closing process, enabling customers to secure their homes more quickly and efficiently.

Frequently Asked Questions

Q. How much loan amount can I borrow from Achieve home loans?

A. With an Achieve HELOC, you have the opportunity to access a line of credit of up to $150,000.

Q.What are the loan terms at Achieve?

A. With an Achieve HELOC, you have a draw period of 60 months, which means you can access the funds over a period of five years. The overall term of the loan can be either 120 months (10 years) or 180 months (15 years), giving you flexibility in choosing a repayment timeline that works best for you.

Q. Who is eligible for Achieve loans?

A. If you own a home and have multiple high-interest credit card balances, Achieve loans can be a great option for you. They allow you to consolidate all those balances into one loan, which can help simplify your finances and potentially save you money on interest payments.

Q. Achieve’s Home Equity Life of Credit (HELOC) is serviced by which company?

A. Specialized Loan Servicing is the company responsible for servicing Achieve’s home equity lines of credit (HELOCs).