We are currently in San Diego, CA.

To be eligible for HomeWell, the subject property must be a single family residence located in San Diego county and have an appraised value over $500,000.

There is no minimum credit score. At the time of application, we will pull your credit.

Once a full application has been submitted, you may receive an approval decision within 2 weeks. Once a homeowner is approved, we will then determine the eligibility of the property to ensure it meets HomeWell’s minimum investment criteria.

A HomeWell co-investment provides the cash you need to build an ADU in exchange for a share of your home’s price appreciation.

HomeWell offers investments up to $350,000. We will take your credit history and home equity position into consideration when determining the offer amount. The minimum equity a homeowner must retain in the home after the investment is 20%.

You do! Your home remains your home. We will record the HomeWell Option Purchase Agreement via a Deed of Trust. You maintain all rights and responsibilities to your home.

You will not receive the funds directly. HomeWell will fund your ADU builder on your behalf.

Your home stays your home! HomeWell does not require permission to complete renovations or repairs; however, you must perform basic maintenance of the home.

Yes, you may buy back your equity at any time during the 7-year term. Buybacks typically occur via either a refinance or a cash payoff.

We’ll use an independent third-party appraisal to determine the market value of your property at that time. Then you’ll pay us the same amount you would have paid if you had simply sold your home for its appraised value.

The biggest difference between selling your home and buying us out is that HomeWell will not share in any loss in your home's value when you buy us out.

As your investment partner, HomeWell is an enthusiastic supporter of home improvements that add value to your home. You maintain full ownership and control over your home, including all decisions about remodeling. However, when you repay, the value of your home will not be adjusted to exclude gains from improvements made during your agreement with HomeWell.

Yes, you can repay HomeWell through the closing of your home. The sale must be an arm’s length transaction at fair market value.

HomeWell technically has the right to foreclose on your property to protect its investment, similar to a lender. But we would much rather see you stay in your home. That's why we will always give you a chance to fix any default. As an investor in your property, we share your desire to protect the equity in the home. In certain circumstances, if you are facing foreclosure by your lender, we might work with you to sell your home in an orderly "non-distressed" fashion which would maximize the sale price, protect the equity in the home, and preserve your credit. We may also be able to issue “Protective Advances," which are funds that keep you current and help you avoid default. You would have to pay these advances back when the home is sold. Please contact us if you are having trouble so we can help.

You always remain the sole owner of your property and can decide to sell your home at any time. After 7 years, you will need to either buy out HomeWell’s investment or sell the home.

In the event your home value drops significantly, your repayment amount to HomeWell may be less than your initial investment.

There are no monthly payments associated with the HomeWell investment!

Yes. By agreeing to a HomeWell investment you also agree to allow HomeWell or one of its affiliates to be the listing agent for your home in the sale. The reason we require this is as an investor in your property, we share your desire to get the highest price for your home. We also give you a discounted brokerage fee! With aligned interests you know we will work diligently to get you the best possible price.

Determining the Initial Value

For your estimated offer, HomeWell uses the self-reported value for your home. As we move forward, we'll retain a licensed and independent appraiser or, where appropriate, use some other property valuation product to determine the value of your home, known as the Appraised Value.

An adjustment is applied to the Appraised Value to set the starting value for the contract, called the Original Agreed Value.

Determining the Ending Value

When you're ready to pay HomeWell back, there are a few options for determining the ending value. If you're selling your home, we'll simply use the sales price, as long as it is an arm’s length transaction and the sale value represents the full market value of the property. If you repay HomeWell through a refinance or another source of cash, we'll determine the property's value using an appraisal, an AVM, or a broker price opinion (BPO).

As part of your application review, we will determine the value of your home, which will be known as the Appraised Value. Based on factors related to your home and application, a risk adjustment will be applied and discounted from the Appraised Value to determine the Original Agreed Upon Value.

Because HomeWell shares in downside, HomeWell applies a Risk Adjustment of 10% to 15% to offset small declines in home value and protect its initial investment.

When you're ready to pay HomeWell back, there are a few options for determining the ending value. If you're selling your home, we'll simply use the sales price, as long as it is an arm’s length transaction and the sale value represents the full market value of the property. If you repay HomeWell through a refinance or another source of cash, we'll determine the property's value using an appraisal, an AVM, or a broker price opinion (BPO).

Yes. Because HomeWell is a co-investment rather than a loan, we are invested in your home alongside you, and we win and lose together. Though such cases are not common, with significant decline in your home’s value (something neither of us are looking for!) it is possible that the value of our co-investment, and your ending amount due to HomeWell, would be $0. It’s this feature along with the absence of any monthly payments that distinguishes a co-investment from a loan.

HomeWell’s program is typically for homeowners who live in the home. Building an ADU is a large investment so homeowner’s should also plan to stay in the home long term in order to capitalize on the investment.

In order for your home to qualify as an owner-occupied property, you must live in the home for at least 180 days out of every 365-day period and must never be away from your home for 60 consecutive days.

HomeWell does not generally invest in rental properties because they frequently suffer more wear and tear than owner-occupied homes, and therefore carry additional risk. Our standard pricing is for owner-occupied properties; However, special pricing may be available for the non-owner occupied property.

Please contact us to discuss your situation.

HomeWell does not require payoff if you choose to refinance your home. However, some lenders may require repayment to HomeWell in order to refinance your mortgage.

Information about you. We look at your credit history, income, and other factors prior to partnering with you.

Information about the home. We also need to evaluate the home prior to partnering with you. Usually, the home needs to be your primary residence and must meet several other criteria for us to invest.

HomeWell’s percentage share in the home's future change in value varies with the amount of your co-investment.

HomeWell’s standard pricing is for owner-occupied properties; However, special pricing may be available for the non-owner occupied property.

Please contact us to discuss your situation.

If you pass away during the term of your agreement and you are not survived by anyone else who is on the agreement, then your heirs or estate will be required to settle the HomeWell agreement, after a 180-day grace period.

Since your home does not automatically pass to heirs who are not signatories to the agreement, it’s important that you discuss your decision to enter into the HomeWell agreement with your heirs so that they understand the effect it could have on your estate.

HomeWell is not added to the title of the property. You will retain sole ownership of your home with HomeWell as an investor. Similar to a mortgage, HomeWell’s investment is secured by a Security Instrument. In other words, we would become a lienholder on the property.

When you partner with HomeWell, you agree to keep your home in good condition and do routine maintenance as needed. For example, you would be responsible for ensuring that there are no leaks in the roof, that interior and exterior paint is not chipped or cracked, that electrical outlets and heating or cooling systems are in good working order, in addition to all other maintenance.

If you fail to do routine maintenance, that could affect the value of the home whenever you choose to sell it. In that case, HomeWell would use a Deferred Maintenance Adjustment to determine what the home’s value should have been. HomeWell’s share would then be calculated based on this adjusted sale price.

In some rare cases, the proceeds of your home sale might not be enough to pay the sum of the selling costs plus the remaining balance on your mortgage and the amount you owe HomeWell. Since we are adding value to your home immediately by adding an ADU this would be extremely rare. Usually, this only happens when your home has lost value and you took out additional loans and/or stopped making monthly mortgage payments.

If this happens, you are still responsible for paying the amount you owe HomeWell.

To evaluate and document your property, HomeWell will order an appraisal report and in some cases a home inspection report as well.

No. When you sell your home, you'll be responsible for those costs, just like you would for any other home sale.

However, you should know that HomeWell's programs do not add any extra costs at the time you sell your home and actually save homeowners by providing a discounted brokerage fee.

No! The equity you build with your monthly payments belongs to you. We share in the change in the value of the home over time.

Here are a few factors that we look at:

Your home. To qualify, your home needs to be in an eligible market area, and your home should be worth over $500,000.

Your equity. You need to retain at least 20% of the equity in your home after HomeWell's investment. In certain situations, HomeWell may require you to have additional equity.

Your credit profile. While HomeWell is much more flexible about your credit than conventional home equity options, we will still review your credit history and require a minimum credit score to qualify.

Fees associated with a HomeWell investment are charged upon closing and will be deducted from your investment proceeds.

Here is a breakdown of estimated costs:

Origination Fee: 4% of the Gross Investment amount.

Appraisal: $200-700 each.

Payoff Demand Statement: $30

Title: $200-900

Escrow: $250-550

The above breakdown is the estimated costs charged by HomeWell and/or its service providers. It is not an exclusive list of costs and does not include costs incurred from your current lender or by your state or county.

You can repay HomeWell at any time during the 7-year term. There is no prepayment penalty!

Homeowners remain responsible for payment of property taxes, insurance, HOA dues/fees, and property maintenance costs.

All HomeWell agreements are secured to the property and, until the homeowner repurchases the equity or the Option Purchase Agreement is otherwise terminated, the terms will remain in place for future heirs.

Most importantly, a HomeWell Home Equity investment is not a loan like a reverse mortgage. In addition, HomeWell’s Home Equity Investment features no age requirements, no monthly interest charges, and can be junior to your 1st position mortgage.

HomeWell is often able to offer a greater investment amount than other co-investment companies as we can include the value of the ADU we are building. We are your ADU partner, simplifying each step from financing to completion with our preferred partners.