Housetable allows borrowers to qualify for larger home renovation loans (at the same rates). Housetable uses AI, home equity, and the house’s expected post-renovation value to make it happen. Housetable’s initial focus is on home equity loans that are designed for home improvement projects and underwritten based on the after-renovation value (ARV).

Not only that, but Housetable assists with the renovation planning and education, too. Here’s how it works:

1. Housetable captures information about the borrower(s) and the house, complete with a 3D tour of the house using a mobile app.
2. Housetable lets the borrower know what their home will be worth after renovations, its expected costs and timeline, as well as a curated list of improvements that are most likely to increase its value (powered by AI).
3. Without affecting the borrower’s credit score, Housetable shows how much they can borrow, their projected monthly payments, and how that varies depending on which improvements they decide to do.
4. Housetable then verifies income and assets by connecting with financial institutions, tax software, and more to evaluate the application.
5. Finally, Housetable’s mobile app keeps track of contractors’ progress reports, manages changes of scopes, and approves contractor payment releases.

The end result is a bigger, fully digital home renovation loan that guides borrowers through the process from A to Z. Housetable partners with banks and credit unions across the US to provide these home equity renovation loans. Credit unions that offer these loans gain a competitive advantage over other home equity and home improvement lenders. They also gain access to potential new members nearby who qualify for loans but haven’t chosen their lender.