Once upon a time…

Sarah and Miguel had lived in their suburban home for nearly a decade. The house that once perfectly fit their newlywed dreams had weathered alongside them through job changes, the birth of their children, and countless family memories. But now, with two growing kids and remote work becoming permanent, their once-spacious home felt increasingly cramped. The outdated kitchen with its laminate countertops and aging appliances had become a daily frustration instead of space for dinner inspiration, and moving closer to Sarah’s aging parents in another state was feeling more and more like a reality.

Like millions of homeowners, Sarah and Miguel knew they could command top dollar for a renovated home, but lacked the financial resources to fund a renovation out of pocket.  That being said, they had built substantial equity in their home—nearly $150,000 worth – and their financial advisor had mentioned a HELOC as the traditional route to tap into this equity. Every evening, after putting the kids to bed, they would scroll through renovation websites, imagining the necessary remodel in preparation for sale, while simultaneously dreading the financing process they’d heard so much about.

Luckily, Miguel’s friend and neighbor is a REALTORⓇ who mentioned working with a company called HouseAmp that invented the HomeSale Loan™, advancing the money to update the house before marketing it for sale. Unlike traditional HELOCs with their mountain of paperwork, lengthy approval times, and variable interest rates, HouseAmp promised a streamlined digital application, approval within hours instead of months, and a trusted network of service professionals.

Because of that…

Sarah and Miguel decided to apply that very night. Instead of gathering tax returns, bank statements, and employment verification documents, they simply connected their banking information through a secure portal and answered a few straightforward questions about their home In less than 5 minutes. The proprietary algorithm assessed their property value in real-time rather than requiring an expensive in-person appraisal.

Within 72 hours—not the 30-45 days they expected with a traditional HELOC—they received approval. There were no hidden origination fees, no closing costs, and most importantly to Sarah, no risk of foreclosure since the innovative product wasn’t secured by their home in the traditional sense and it would be paid off at closing. They could access exactly the amount they needed for their renovation without minimum withdrawal requirements or unused line fees.

Their chosen contractor, who typically experienced frustrating delays and cancellations when clients pursued traditional financing, was able to start work immediately. The contractor appreciated the direct payment feature that ensured funds went straight to the project rather than getting diverted elsewhere, which had happened with previous clients.

Six weeks later…

Sarah and Miguel hosted a dinner party in their newly renovated kitchen. As friends marveled at the transformation, the conversation inevitably turned to how they financed it. “We didn’t go the traditional HELOC route,” Miguel explained, pulling up the simple dashboard on his phone showing their transparent repayment schedule. “This new solution gave us access to our equity without the headaches. We didn’t have to navigate variable rates or worry about our home being collateral.”

Shortly after their dinner party, Sarah and Miguel listed their beloved family home with their Realtor neighbor as they began preparing to relocate closer to Sarah’s parents.  The newly remodeled kitchen was a big draw for potential buyers and the home sold in an all cash offer within 45-days and it sold above market value. 

And ever since then…

Sarah and Miguel have recommended HouseAmp to numerous friends facing similar renovation needs. Their story represents the changing landscape of home equity financing—one where technology has finally caught up with homeowners’ needs for simplicity, speed, and security. While traditional banks continue offering HELOCs with their inherent complications and concerns, this new generation of financial solutions has reimagined what accessing home equity can look like for the modern homeowner.

As property values continue rising across the country, millions of homeowners like Sarah and Miguel are discovering they don’t have to accept the status quo of complex, slow, and costly HELOCs to improve their home for sale. Instead, they’re embracing innovative alternatives that respect their time, simplify the process, and ultimately help them transform their most valuable asset—their home—into the space they truly need.

The end.

HouseAmp’s innovative finance models allow homeowners to easily improve their home leveraging existing equity, paying upon closing.  Their collaborative platform connects real estate agents and homeowners with lenders and service providers, offering a contemporary, streamlined experience for all.

 

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At-a-glance stats:

  • 80% of buyers want move-in-ready homes.
    Homes that are market-ready typically sell faster and for a higher price.
    * Coldwell Banker “Guide You Home” Survey, 2020

  • 12 days on market.
    HomeAmp-improved median demonstrating that pre-sale improvements can increase the selling price and shorten the time it takes to sell.
    * HouseAmp-improved median, 2023

  • 76% of homes need repairs before selling.
    Deferred maintenance and cosmetic upgrades create an opportunity for homeowners to maximize their ROI before selling.
    * Consumer Affairs Homeowner Survey, 2022

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HouseAmp minimizes or eliminates homeowner, lender and service provider concerns surrounding the traditional HELOC for HomeSale Loan™:

Homeowner Concerns:

  • Complex application process requiring extensive documentation
  • Long approval timelines (often 30-45+ days)
  • High closing costs and fees (appraisals, title search, origination fees)
  • Variable interest rates creating payment uncertainty
  • Potential for home foreclosure if unable to repay
  • Strict credit score and debt-to-income requirements
  • Draw period limitations followed by potentially steep repayment period
  • Minimum withdrawal requirements in some cases
  • Annual maintenance fees regardless of usage
  • Early termination/cancellation fees

Lender Concerns:

  • Substantial underwriting costs and resources
  • Risk exposure during housing market downturns
  • Regulatory compliance complexity
  • Low utilization rates on approved lines
  • Competition from other lending products
  • Secondary market limitations compared to traditional mortgages
  • Challenges in assessing property values accurately
  • Portfolio risk management across economic cycles
  • Customer acquisition costs vs. lifetime value uncertainty
  • Default risk assessment complexity

Home Service Provider Concerns:

  • Payment delays while homeowners secure financing
  • Project cancellations due to HELOC denials
  • Cash flow gaps during lengthy approval processes
  • Limited visibility into customer financing status
  • Administrative burden helping customers navigate financing
  • Inability to offer integrated financing solutions
  • Lost sales opportunities when financing falls through
  • Challenging to accurately scope projects when funding is uncertain
  • Competition from providers offering in-house financing options
  • Seasonal timing mismatches between HELOC approvals and optimal project timing

To learn more about HouseAmp, visit HouseAmp.com.