Written by Bondilyn Jolly
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 The outdated kitchen with its laminate countertops and aging appliances had become a daily frustration instead of space for dinner inspiration, and moving closer to Sarah's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 minutes 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 created their account in HouseAmp’s secure portal and answered a few straightforward questions about their home and themselves. In less than 5 minutes. The proprietary algorithm assessed their property value in real-time rather than requiring an expensive in-person appraisal.
Within 15 minutes — 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 impacting getting a mortgage for their new home because it was an equity-based loan, not reported to their credit 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 how simple it was to pay their contractor with their funds. "This new solution gave us access to our equity without the headaches. We didn't have to navigate variable rates or worry about paying out of pocket for large loan closing fees"
Shortly after their dinner party, Sarah and Miguel listed their beloved family home with theirRealtor 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 andMiguel 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.
Click here to visit the RETechnology article.
