Why Are Payments Made Directly to Contractors?
Overview
When HouseAmp approves your financing, all funds are disbursed directly to your contractors. Payments are never made to the homeowner. Here is why this matters and what it means for you.
Why HouseAmp Pays Contractors Directly
🔒 Protects the HomeownerDirect contractor payment means the money can only be used for approved work. You are never in a position of holding funds or managing disbursements yourself. |
📋 Protects the Lending PartnerThe financing is secured against the planned improvements. Direct payment ensures the work is completed as scoped and documented. |
✅ Keeps Projects on TrackContractors are paid for approved, completed work. This keeps projects moving on timeline and on scope. |
What This Means for You
You do not receive a check or bank transfer. Once work is approved and completed, your contractor submits for payment and HouseAmp handles the disbursement. You will be notified when payments are made.
❗ Important: HouseAmp does not reimburse homeowners for payments already made to contractors. All contractor payments must flow through the platform prior to work being completed.
Can I Use My Own Contractors?
Yes. Sellers may work with their own licensed and insured contractors or find one through the HouseAmp platform. All contractors must be licensed and insured, and work must be scoped and approved before funds are disbursed.
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