This glossary defines the most common terms used across the HouseAmp platform and in conversations with agents, homeowners, and lending partners.
| HomeSale Loan HouseAmp's flagship pre-sale financing product. Funds improvements with no monthly payments. Repaid from sale proceeds at closing. Available up to $250,000 in select states. |
| Improve to Stay HouseAmp's long-term renovation financing product for homeowners not planning to sell. Structured on 15 and 20-year terms. Currently in development. |
| Improve Now, Pay Later HouseAmp's operating model. Homeowners receive improvement financing upfront. Repayment is deferred until the close of sale. |
| PropCheck A tool available to MLOs and agents that estimates a homeowner's available equity based on property data. Used to quickly assess property eligibility during initial conversations. |
| Service Pro A licensed contractor or service provider operating on the HouseAmp platform. Receives direct payment from HouseAmp for approved, completed work. |
| Deed of Trust A legal instrument used to secure the HomeSale Loan against the property. Required for the current secured program in WA, CA, OR, and FL. Not required for the upcoming signature program. |
| Secured Program The current HomeSale Loan product that requires a deed of trust. Available up to $250,000 in WA, CA, OR, and FL. |
| Signature Loan Program An upcoming HomeSale Loan product that does not require a deed of trust. Available up to $100,000. Will expand availability to additional states including the DMV market (VA, MD, DC). |
| Payoff Demand A formal document issued by the loan servicer that specifies the exact amount required to satisfy and close the HouseAmp loan at closing. Typically requested by the title company. |
| StateBridge HouseAmp's current active lending origination partner. Originates secured loans in WA, CA, OR, and FL. |