Notable

Notable: financing to prepare a home for sale

Notable is a financial services company that provides funds to homeowners who are selling a house, with the goal of covering improvements, repairs, or preparations before listing the property on the market. The main product allows you to obtain up to $50,000 for home preparation, with no upfront payment and no monthly installments. The amount used is repaid at the closing of the sale.

The company operates through Notable Finance, LLC, an affiliated lending entity, and also through Quorum Federal Credit Union. Loans are made or arranged pursuant to a California Finance Lenders Law license. The company states that it is not available in all states.

How repayment at closing works

The process is structured in three steps. First, the applicant completes an application in a few minutes and can obtain up to $50,000 without the inquiry affecting their credit history. Then, the homeowner uses the funds for any expense related to the sale of the home, with payment options by card, check, or bank transfer. Finally, repayment is made in a single step when the sale closes.

The funds, interest, and fees are due upon the sale of the home, twelve months after origination, or when another acceleration event provided for in the contract occurs, whichever comes first.

Loan terms

Applicants must meet several requirements: have a credit score of 680 or higher (640 or higher in California), be an owner of the home for sale or be authorized to act on behalf of the owner, have at least 20% equity in the home, and be selling a home valued under $4 million.

As for costs, interest starts at 0.75% per month (8.99% APR). A one-time fee starting at $499 applies, deducted when the first draw of funds is made. There are no monthly payments: the balance is due at closing. The company notes that most homes sell in about three months and that, with an average monthly interest of approximately 1% (12% annually), the interest paid at closing is around 3%, calculated only on what has actually been spent.

Uses and seller profiles

The financing is designed to cover different types of property preparation. Intended uses include cosmetic improvements, essential repairs, upgrades, renovations, landscaping, lighting installation, roofing, painting, cleaning, storage, and moving. The company also mentions payment for home staging services.

Notable serves individual sellers, but also real estate agencies, service professionals, and staging specialists. For sellers, the company distinguishes between those seeking a cosmetic refresh to sell faster, those needing to undertake essential repairs, those wanting to maximize results, and those selling properties held in an LLC, trust, estate, or under power of attorney.

Activity data and backing

The company states it has prepared more than 40,000 homes and has ratings on Trustpilot. On its website, it shows testimonials from sellers in various states, such as California, Massachusetts, Texas, Pennsylvania, Arizona, and New York, who highlight the speed of the process, the ease of submitting invoices and receiving funds, and the service received.

Notable publishes informational content about home preparation, including guides on cosmetic improvements, the benefits of staging, and the expenses covered by the program, such as pest control, pet care, or temporary housing.

Structure and contact

The company is headquartered at 6 Landmark Sq, Fl 4, Stamford, CT 06901. Business hours are Monday through Friday, 9:00 AM to 9:00 PM Eastern Time, with possible variations on holidays. Notable Finance, LLC's NMLS license number is 1824748.

Location and contact

6 Landmark Sq, Fl 4, Stamford, CT 06901 · Phone: (833) 615-0252 · Email: compliance@notablefi.com