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Achieve Review

Achieve is a digital personal finance company dedicated to helping homeowners leverage the equity in their homes and consolidate debt efficiently. With simplified payments, personalized service, and the promise of significant annual savings, Achieve has become a noteworthy option for those looking to improve their financial health.


Pros and Cons

✔ Keep your current mortgage with no refinancing required
✔ Application-to-funding in as little as 15 business days
✔ Loan amounts from $15,000 to $150,000

✖ Minimum credit scores apply
✖ Average 2- to 3-week funding may be slightly longer than some competitors


Achieve Highlights

  • Home equity debt consolidation solutions help simplify multiple debts into one manageable payment
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  • Certified loan consultants available to guide you through the loan process
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  • Members save an average of $10,000 annually, according to Achieve
    •
  • Low, fixed-rate loans offered without the need to alter your first mortgage
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Who Is Achieve Best for?

Achieve is ideal for homeowners who are looking to consolidate debt, reduce monthly payments, and alleviate financial stress without refinancing their current mortgage.

Visit Achieve ➜
Achieve, NMLS ID #1810501

Achieve Home Equity and Loan Products

What Loans Does Achieve Offer?

Achieve Home Equity Loans are designed to help homeowners unlock the value of their property through loans or cash-out funds. Loan amounts range from $15,000 to $150,000 with 10- or 15-year terms. The amount you qualify for will depend on your property’s value and your individual financial situation.

With competitive fixed rates and the ability to consolidate significant high-interest debt, Achieve home equity loans offer a path without disturbing existing mortgage agreements or current interest rates.

Achieve specializes in additional loan products including personal loans and debt solutions. Personal loans range from $5,000 to $50,000 and are commonly used for purposes like home renovations or major purchases. Achieve debt solutions include debt resolution–a non-loan approach in which an expert negotiates and reduces your debts–and debt consolidation–a process in which you merge debts into a single monthly payment, ideally at a lower rate.


How Does Achieve Work?

Achieve simplifies the loan process by offering personalized rate discounts and quick loan matching with no impact on your credit score. The company provides tailored advisory services to ensure each client's needs are met, including alternative solutions if a home equity loan isn't the best fit.

Clients can expect simplified payments and personalized assistance. Achieve caters to those with decent credit or higher, with a minimum credit score requirement of 640 for debt consolidation and 670 for cash-out requests. Processes are conducted entirely online with phone support available.


What is the Application Process Like with Achieve?

The application process is designed to be simple and swift. It starts with an online assessment where you'll answer a few questions about your financial needs. This initial step, which doesn't impact your credit score, helps match you with suitable loan options and rate estimates in under a minute.

From here, you’ll be prompted to fill out a more detailed application with financial information and a credit check to determine approval. If approved, you’ll finalize the loan agreement online and receive funding in as little as 15 business days.


What Do I Need to Apply Online?

$ Financial information
🗎 Property details
⁈ Credit check

To apply online with Achieve, you will need to provide basic personal and financial details, information about your home's equity, and details of your existing mortgage if applicable. You should also have information on any debts you wish to consolidate, if relevant, as well as a credit check to assess your eligibility for the desired loan type.


The Bottom Line

Achieve stands out as a viable option for homeowners looking to manage high-interest debt through home equity. With a focus on convenience, expert guidance, and potential savings, Achieve offers a compelling solution for improving financial stability, reducing debt stress, and regaining control of your finances.

Visit Achieve ➜
Achieve, NMLS ID #1810501

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Frequently Asked Questions (FAQ)

A mortgage loan is used to purchase a home or real estate property. It involves an agreement where the borrower repays the loan over a set term, typically 15 to 30 years. The loan is secured by the property, which means the lender holds it as collateral until the mortgage is fully paid off. The borrower repays the loan through monthly payments, which include both principal (the loan amount) and interest.
Securing a mortgage loan typically takes between 30 to 45 days from start to finish. The process includes pre-approval, application submission, underwriting, appraisal, and closing. If you need to secure a mortgage loan as fast as possible, online lenders are a great option. Online lenders can process and approve loans in as little as 15 to 30 days, thanks to streamlined digital applications and quicker approval processes.
Your credit score plays a key role in determining both your mortgage eligibility and the interest rate you'll receive, accounting for roughly 34% to 40% of the decision-making process. Generally, higher credit scores result in more favorable terms and lower interest rates. If your credit score is on the lower side (around 620 or less), there are still plenty of options available. Many online lenders offer more flexible credit requirements, and applying with a co-signer who has a strong credit score can also improve your chances of securing better loan terms.
To improve your chances of getting approved for a mortgage loan, focus on raising your credit score by making timely payments and reducing any unpaid balances on your card(s). Lenders also prefer a lower debt-to-income (DTI) ratio, typically below 43%, as it shows financial stability. Saving for a larger down payment and maintaining stable employment can further strengthen your application. To speed up the approval process, ensure that all documents you submit are accurate and up to date.
To secure the lowest mortgage rates, it's important to maintain a high credit score and keep your debt-to-income (DTI) ratio low, as these factors demonstrate financial responsibility to lenders. Lenders also assess your income, employment history, and the size of your down payment when determining your eligibility. If your financial profile is lacking in one or more areas, applying with a co-signer who will share responsibility for the loan can help boost your chances of approval and possibly lead to better terms.
Pre-approval is a process where you self-report your financial details, such as income and debt, to get an estimate of how much you might qualify for without a hard credit check. It provides a personalized loan estimate and potential interest rate, helping you compare offers from different lenders and determine what you can afford. Pre-approval is a great first step before fully applying for a mortgage, as it allows you to shop around and better understand your options without impacting your credit score.
When applying for a mortgage loan, lenders will use the following documents to assess your financial health and determine your eligibility for a mortgage loan: PROOF OF INCOME (pay stubs, tax returns W-2s or 1099s) • EMPLOYMENT VERIFICATION (a letter or workplace contact) • BANK STATEMENTS (savings and/or checking account balances and other assets) • CREDIT INFORMATION (lender will conduct a credit report check) • DEBT INFORMATION (current debts and/or other outstanding loans) • PROOF OF IDENTITY (driver's license or passport and your Social Security number).
Start by researching online and reading reviews to check the lender's reputation. Then, shop around by getting preapproved with multiple lenders to compare rates. (Preapproval should not impact your credit score, it's simply a preliminary loan and rate estimate). Don't hesitate to ask questions about the loan process and fees. Local real estate agents can also provide recommendations based on their personal experience with mortgage lenders.
If you're facing challenges with your mortgage payments, there are options to explore. Many homeowners refinance their mortgage to modify their loan terms or secure a lower rate if the market has changed (though there's typically a 6 month waiting period from after you close to when you can refinance). Additionally, you can contact your lender to discuss assistance programs like forbearance and loan modification.
You should consider refinancing your mortgage when it can help you achieve a financial goal, such as lowering your monthly payments, reducing your interest rate, switching from an adjustable-rate to a fixed-rate loan, or accessing your home’s equity. It's generally worth considering refinancing if current interest rates are significantly lower than your existing rate (around 0.5% to 1% or more) or if your credit score or financial situation has improved since you took out the loan. You should always factor in the closing costs associated with refinancing before signing any paperwork to ensure it’s a cost-effective move.