Aven, known for a Visa card backed by home equity, is now lending against a home the buyer does not yet own. On October 30, 2026 the Campbell, California company introduced the Home Purchase Line, an open-end line of credit secured by the property being purchased. Buyers do not need to already own a home. Qualified applicants can borrow up to $2 million, with 20% down required. The balance used to buy the house is repaid over 30 years at a fixed rate with fixed monthly payments, and remaining credit stays available after closing on a separate variable rate. For buyers, the claim is that financing can keep up with the offer. Aven measures the timeline from the application to finance a specific home through closing, and says that window can be as short as seven days, against an average of 42 days for a conventional purchase mortgage in June 2025 ICE Mortgage Technology data. It has already recorded a Tucson, Arizona close in 67 hours. CEO Sadi Khan said that buyer was purchasing for the first time, and he credited Opendoor with help on the deal. A seven-day close is not guaranteed. Appraisals, inspections, title, and how fast the buyer replies can all push it out. The company attributes the shorter path to federal rules that let open-end home equity lines close faster than closed-end mortgages, plus an application that can return a preapproval in minutes without skipping underwriting of the borrower or the house. Khan co-founded Aven in 2019 with Murtada Shah and Collin Wikman after product work at Facebook and Microsoft. Aven is not a bank. Accounts are issued by Coastal Community Bank. Because the line is open-end credit, the loans are not eligible for sale to Fannie Mae or Freddie Mac.)