Homeowners can apply for a 24-month open-ended home equity line of credit, which includes an origination fee, a fixed interest rate, and up to 60 days no-interest period. The loan allows homeowners to access funds for home improvements and sale-related expenses for a draw period of up to six months. Disbursement of funds within the HouseAmp platform is subject to HouseAmp’s Terms of Use. Repayment of the loan, including the outstanding balance, any accrued interest, and fees, is required either upon the sale of the house or within 24 months of the origination date, whichever comes first. Monthly interest payments will be required if the loan exceeds 12 months. The outstanding loan balance and any unpaid, accrued interest will be due on the 24th month. Loans are available through HouseAmp’s licensed lending partners. All loans are subject to approval based on lenders’ underwriting criteria.

Our program lenders charge an origination fee of 1.99% and other settlement-related fees. For approved borrowers, the origination fee and other settlement-related fees are paid from the line of credit at origination. Borrowers should review their loan agreement for specific details. Loans are provided by third-party lenders. The lender specifies the fees and terms that are associated with loans they offer.

There is a minimum credit score of 650.

Loan proceeds can be used for improvements to get your home ready for sale and other expenses of sale. Any service providers involved with the sale or improvement of the home can sign up and be a part of the process. The platform supports various services, from improvements to staging to moving and storage costs. A list of service categories is available on the platform dashboard when you create your account. A list of service categories is available on the dashboard when you create your account.

Any service provider can be invited to create an account on the platform to start working with you on projects. The platform provides service providers with efficient project management, fast and easy payments every Friday, and instant access to funds via ACH electronic deposit. In addition, service providers gain access to the vast LA Style & Design homeowner network for referrals and leads. Service providers and others using the LA Style & Design platform who are requesting payment from a homeowner’s available loan proceeds are subject to a 3.49% platform fee as described in the HouseAmp Terms of Use. The fee is equivalent to most credit card fees.

Our lenders require a minimum loan of $10,000. The maximum loan amount available is $250,000. All loans are subject to approval and based on available equity in your home.

Yes, pay-later funding is available for pre-listing needs as well as last-minute or inspection related repairs.