Pay At Close
Pay for Staging & Listing Media at Closing
- Fees As Low As $0
- Unlock Funds In Less Than 60 Seconds
- Pay Nothing Until Your Listing Sells
- Repay At Escrow or Roll To Next Listing
- Available On Select Staging & Listing Media Packages
- Over $2M Deferred To Close
Frequently Asked Questions
What are the qualification criteria?
To qualify, applicants must meet the following criteria:
- Credit score of 640+*
- Verified property ownership
- Better than 80% loan to value ratio
- Signed listing agreement
- To date, 85% of applicants have been approved.
What fees are there?*
- A risk-based flat fee that ranges from 0% to 8%.
- Fee is based on credit score.
Can Pay at Close be used for investment properties?
Yes, Pay at Close can be used for investment properties held in an LLC or Trust. Additional documentation will be required, including proof of beneficial ownership and mortgage details. Note that loans are always personal loans made to an individual, even if the property is owned through an entity.
Can Pay at Close be used for all listing prep?
Yes. Approved borrowers qualify for $25,000 or $50,000 depending on home equity, and can use that money to pay for all home prep as long as the home is under an active listing agreement.
Will applying impact credit scores?
No, only a soft credit pull during the application process is required, so there’s no impact on the borrowers credit score when applying or getting approved. However, if a borrower defaults on the loan or fails to repay, the delinquency may be reported to credit bureaus, which could negatively affect credit.
What happens if the home doesn’t sell?
When a customer chooses to “Pay at Close”, they are starting a 6-month personal loan that will be repaid at the earliest of the following:
- The home sells
- Six months pass
- The listing is canceled or withdrawn
If the home hasn’t sold by the time the loan is due, borrowers will have the option to repay over six additional months at an 18% APR.
How does loan payback work?
The status of the listing is monitored. When a listing changes to contingent or pending, the borrower will receive a notification to enter the closing agent’s information. Once submitted, a payoff invoice is automatically sent to the closing agent. The charge will then appear on the closing statement and be paid from the sale proceeds. If the listing sells off-market or the charge is missing from the closing statement, please contact us immediately at support@gotitus.com.