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Haus is an investment company that helps homeowners lower their monthly payments and access their home equity. Founded by Garrett Camp (co-founder of Uber) in 2016, Haus offers to co-invest with homeowners on qualifying properties. Homeowners can also refinance their existing mortgage loans through the company.
Haus’s services are available in California, Colorado, Oregon, and Washington, with plans to expand to other states soon.
If you’re considering tapping your home equity or refinancing, use this Haus review to learn more about the terms, services, costs, and qualifying requirements to determine if it’s the right company for you.
In this review:
- How does Haus work?
- How does Haus determine how much to invest?
- How does the term of the agreement work?
- Are there any costs with a Haus investment?
- Pros and cons of a Haus home equity shared agreement
- Customer ratings and reviews
- Haus eligibility requirements
- How do I apply with Haus?
How does Haus work?
Haus offers two services: equity sharing for homeowners and refinancing. If you’re a homeowner, you can use the company’s co-investing services to sell the portion of your home’s equity that you don’t currently own. Haus then gives you cash in exchange for that equity.
Once you’ve closed on your agreement, Haus will continue making your old payment to your mortgage lender on your behalf, and you’ll pay Haus a much smaller amount (up to 35% lower). Currently, the company offers a $1,000-per-month program, though you’re still responsible for the costs of property tax, insurance, maintenance, and HOA payments on top of this $1,000.
Across the 10-year term of the agreement with Haus, you can choose to purchase equity back from the company (and move closer to full homeownership) or sell additional shares, too, if you need more cash (maybe for home repairs or sudden medical bills).
The company also offers refinancing options for existing homeowners. You’ll fill out a form, and Haus will present you with several different loan choices from various lenders. You can then choose which one is best suited to your goals and move forward with the application.
How does Haus determine how much to invest?
On the equity sharing side, Haus doesn’t offer much detail on how much it will invest in your home (or how it determines that investment amount), but it’s important to note: These aren’t loans. Though you will have monthly payments to make toward Haus, you won’t be borrowing any money. Instead, Haus shares in your home’s equity growth over time.
The company’s equity sharing option is currently available on homes valued at $2 million or less, as determined by an on-site appraisal.
How does the term of the agreement work?
Haus equity sharing terms last for 10 years. When the term ends, you can sell the home, buy Haus’s shares out, do a cash-out refinance, or opt to partner with Haus again.
The right move will depend on your situation at the time and the value of the home. If the property has improved in value significantly since the initial investment, buying out Haus’s shares in cash may prove difficult. In this scenario, selling the home or refinancing your mortgage loan may be better.
If you plan to stay in the home for several years and would like to continue having easy access to your equity, renewing your partnership is another option. This option would allow you to retain a low monthly payment while selling and buying back equity as needed over the next decade.
Are there any costs with a Haus investment?
Haus doesn’t note any service fees or closing costs. However, home equity sharing companies typically charge an upfront fee for the initial agreement—usually a small percentage of the total cash payment. You may also be responsible for appraisal costs and other third-party fees that might come up at closing.
The highest cost, though, is usually in the equity you lose over time. If your home appreciates quite a bit, Haus’s shares will become significantly more valuable—possibly more than your initial cash payment. This outcome could result in a financial loss by the end of the term if your home is located in a hot housing market.
Pros and cons of a Haus home equity shared agreement
Sharing your home equity with Haus has drawbacks and advantages. Here are a few you should keep in mind before partnering with the company:
- Can lower your monthly payment
- Allows you to access your home equity now and in the future
- Does not require extra debt
- Funds can be used for any purpose
- No hard credit score minimums or income requirements
- You could lose out on significant wealth if your home appreciates a lot
- Only available in a handful of states
- If you formerly paid property taxes, home insurance, and other costs out of an escrow account, you’ll need to keep track of and pay these yourself moving forward
- You still have a monthly payment (most other equity sharing companies do not require this)
>> Read More: Best home equity sharing agreements
Customer ratings and reviews
There are several home equity sharing companies on the market, so it’s important to weigh your options carefully. Looking at customer reviews can be an excellent way to differentiate between one company and the next, as it offers real-life insights into their service, customer care, efficiency, and more.
Unfortunately, Haus’s online reviews and ratings are scarce, with only Trustpilot boasting anything of note. Based on three reviews posted to the site, Haus has a 4.0 rating (out of 5). All reviewers have called their experience “excellent.”
See below for the latest reviews of Haus. We’ll update the chart as more ratings and reviews are released.
Haus eligibility requirements
Haus doesn’t have many set-in-stone requirements for its homebuyers or “partners” as it refers to them. Instead, the company looks at your bigger financial picture—your credit health, debts, savings, assets, and the stability of your income. Haus also evaluates the property’s housing market (is it healthy?) and use (is it your primary residence?).
Here’s how Haus compares to other equity financing solutions for eligibility requirements.
|Haus||Home Equity Loan||HELOC|
|Minimum credit score||None||620||Mid-600s|
|Income requirement||None||Yes, varies||Yes, varies|
|Term||10 years||5 to 30 years||10 to 20 years|
How do I apply with Haus?
To apply with Haus, you’ll need to fill out a short online form asking for your address, mortgage balance, estimated home value, credit score, and the amount of cash you’re looking to take out. If Haus determines you and your home qualify, you’ll be able to log into your Haus account to finish the process, including an in-person appraisal of your property, among other steps.
Author: Aly Yale