What is a pay-at-close loan?

What is a pay-at-close loan?

Selling a home often takes more work and money than home sellers expect.

Before your home even hits the market, there may be repairs to make, paint to touch up, landscaping to clean up, or staging to help buyers see themselves in your home. And in today’s market, those updates matter more than ever: 94% of home buyers say they’re looking for move-in ready homes, so home prep is essential.

Selling your home is already a stressful time, and financial friction doesn't help: home sellers may not want to move money around, put more purchases on credit cards, or drain savings just to get their home listed.

That’s where a pay-at-close loan can help.

What is Notable?

Notable is a pay-at-close financing program designed specifically for homeowners preparing to sell.

Instead of paying upfront for home prep expenses, eligible sellers can access fast, flexible funds to get their home market-ready now, and repay what they used when the home closes.

That means homeowners can make the improvements they need to list and sell competitively without taking on upfront, out-of-pocket costs.

Why homeowners use pay-at-close funds

Every seller’s situation is different, but many homeowners use pay-at-close funds for one or multiple of these reasons:

1. Quick cosmetic updates that can help list and sell more competitively

Sometimes a home just needs a few finishing touches to list more competitively and get noticed by buyers.

Fresh paint, landscaping, decluttering, cleaning, or staging can dramatically improve how buyers perceive a home online and in person.

These updates help create the “move-in ready” feeling buyers are looking for and can help listings stand out in a competitive market.

2. Must-do repairs that can block the sale

Other homes need some fixing or repairs before they’re ready to list. This could be plumbing, electrical, roofing, HVAC, or even inspection-related repairs that can be a dealbreaker for prospective buyers.

The costs of these projects can range greatly and cause headaches for homeowners who weren't expecting to spend so much on repairs. Pay-at-close financing helps sellers move forward with the repairs they need to get their home listed with more ease.

3. Strategically maximizing the value of the sale

Some homeowners simply want to invest in the best possible sale of their asset: their home.

Rather than selling “as-is,” they might upgrade their kitchen, bathrooms, lighting, or the front and backyard to help maximize the sale price and attract stronger offers.

Many homeowners use Notable because of the hassle, and sometimes tax implications, of moving money around: a pay-at-close loan is just an easier and more convenient choice.

4. Reducing stress for inherited homes or family sales

Pay-at-close financing can also help family members managing inherited properties, trusts, or estate sales.

Multiple heirs or family members may need to agree on contributing funds to fix up the home before selling, which can create delays or friction during an already emotional process. A pay-at-close loan can help alleviate conversations about funding prep out of pocket, and who should contribute what––simplifying and streamlining getting the home listed.

How a pay-at-close loan works

The process is easy, and takes a home seller just a few minutes.

Step 1: Apply online

Homeowners complete a quick online application that can be done from any device in just minutes.

• Applying uses a soft credit pull, so it does not impact credit scores.

• Homeowners can access up to $50,000 to fund home-selling expenses.

• There are no vendor restrictions, meaning homeowners can work with their preferred contractors, stagers, painters, movers, or agents.

Step 2: Use funds to get market-ready

Funds can be used for nearly every expense related to preparing or selling the home, including:

• Staging

• Painting

• Flooring

• Landscaping

• Repairs

• Kitchen or bathroom updates

• Cleaning and decluttering

• Moving expenses

• Temporary housing during showings

• Inspection-related repairs

• Temporary housing

• And much more

Step 3: Repay at closing

There are no monthly payments while the home is on the market.

Instead, the balance (funds used, interest, and fees) is repaid when you sell your home.

For many sellers, this creates an easier home prep experience because they can do the work necessary to maximize their home sale without disrupting their cash flow.

Why more sellers are using pay-at-close financing

Today’s buyers expect homes to feel turnkey and move-in ready, so pre-listing prep more important than ever.

But the reality is that selling a home costs money before it makes money, but the investment in your home is worth it:

Based on Notable data across 35,000+ homes sold and $1B credit issued, homes using the program sold 31% faster on average and for 9% more, with an average 4x return on home prep investment,

Pay-at-close financing gives homeowners access to the funds they need to put their best foot forward when listing their home and reducing stress during the selling process.

What do I need to qualify?

How do I get started?