Achieve Home Loans

Achieve Loans provides HELOCs that homeowners can use for a variety of purposes, like debt consolidation, home renovation and education. Achieve Loans typically markets its HELOCs for debt consolidation.

If you’re a homeowner struggling with multiple high-interest credit card balances, a HELOC can help consolidate your monthly payments into one single monthly payment — often at a lower interest rate. Achieve Loans states that the average customer saves over $700 per month on debt payments when they consolidate debt with Achieve Loans.

If you take out an Achieve HELOC, you use the equity in your home to open a 10- or 15-year line of credit. The amount you can borrow with Achieve depends on factors like how much equity you have. The company offers HELOCs up to $150,000.

Achieve Loans, formerly Lendage, launched in 2019 and is based in San Mateo, California. It's part of the broader Achieve family of companies, which has a history of serving over 1 million customers.

The process of getting a HELOC with Achieve happens in four simple steps:

1. Consultation: You speak with one of Achieve’s mortgage advisors to get a free assessment of your eligibility for a loan. Pre-qualifying takes two minutes or less.
2. Compare options: Your advisor gives you a full analysis of your loan options, including loan amount, payments, rate, debt you can consolidate and the total cost to you.
3. Simple application process: Applying takes just minutes, and it only takes a few days for the Achieve team to gather and verify your information and decide on your application.
4. Fast closing: Achieve can close on your HELOC and give you access to your line in as little as two weeks.

Once you’re approved for the HELOC, you have a draw period of 60 months. During this time, you can use the line of credit to consolidate your debt. As you make payments, you’ll have access to subsequent draws.

Keep in mind that you have three business days after signing your closing documents to change your mind about getting an Achieve HELOC.

Achieve doesn’t charge a prepayment penalty, so you can make a payment in excess of the minimum required payment at any time without extra fees.

Achieve's HELOC APRs range from 10.25% to 17% at the time of publishing. Depending on where you live, there may be fees associated with opening a HELOC:

• Loan origination fee: 2.5% of the credit limit minus fees, due at closing and part of initial draw amount
• Underwriting fee: $685, due at closing and part of initial draw amount
• Third-party fees (title company fees): $750 to $6,685, depending on the loan amount

You can have your APR reduced by 0.50% if you enroll in automatic payments from a deposit account.

Achieve Loans is a legitimate HELOC provider. An Achieve HELOC may be a good choice for those with home equity who are looking to consolidate high-interest debt on multiple credit cards. You can borrow up to $150,000 and pay it back at a fixed rate over 10 or 15 years. Before taking out a HELOC, however, you need to understand the loan is secured by your home — so you risk losing your home if you don’t meet your repayment obligations. If you decide you’re interested, contact the company for a free consultation with an Achieve mortgage advisor.