HEAD OF COMEHOME PRODUCTS | HouseCanary
When people invest in stocks, it’s easy for them to track their financials on a monthly basis. But the largest investment that most Americans will make is their home. How do they know if their home is growing or losing value over time? What is happening in their neighborhood market? What can homeowners do to unlock the value of their home? While 64% of homeowners see their homes as a financial investment, many will struggle with these questions.
We at HouseCanary realized we could empower every homeowner with the expertise to not only evaluate their options, but make better decisions than ever before. ComeHome by HouseCanary is a home buying experience built on the most accurate valuation data in the industry. What if we could use this data to equip every homeowner in the country with the tools to make better decisions about the home they own? Even better, what if our technology could also help homeowners secure financing to make their dreams a reality?
That’s why we built the ComeHome experience for homeowners. ComeHome for homeowners takes the industry’s best automated valuation model, which powers major Wall Street firms and institutional investors, and puts it in the hands of consumers with user-friendly interfaces and tools that empower every American to access in-depth information about their home.
How ComeHome helps homeowners and lenders
- Track property value and neighborhood market
Our valuation models are built on block-level forecasts. That specificity helps consumers make targeted decisions about their homes. Other home valuation products vary too widely and don’t fully support reported values with deep dives or market activity. Lenders who partner with HouseCanary to provide ComeHome to their current customers can better align their loan officers and customers in common understanding.
- Save Money
As we tested this product, it was clear homeowners’ #1 desire was to save money. Navigating mortgage lending is cumbersome, and sales pitches can seem aggressive. Our homeowner experience uses the most accurate data available from public record. That data powers tools that help homeowners explore money-saving scenarios with their current home and financial products. For example, they can use ComeHome’s interactive calculators to estimate their home equity and see how a loan refinance could impact their monthly payments and overall costs. Lenders who offer ComeHome can benefit with better-educated consumers and user analytics that support a deeper understanding of a customer’s behavior and intent.
- Unlock money
When consumers access ComeHome through one of HouseCanary’s banking or lending partners, they can access their equity with direct paths to their existing lender’s HELOC or home equity loan products. Lenders can pair this experience with HouseCanary’s Agile suite of valuation products to enable instant transactions, delighting customers by unlocking funds at the push of a button.
- Make home improvements
One of the toughest challenges homeowners face is identifying the value of home improvements. Many services will tell a homeowner what their home is worth and why, but fall short in explaining the key drivers of value, and opportunities to raise value. ComeHome’s built-in home improvement calculator estimates the cost of improvements and weighs those costs against the potential value an improvement could add to a home’s overall value. Even better, ComeHome enables homeowners to find contractors to do the work. Lenders will benefit when consumers are well-informed and ready to act on funding.
Tell us what you think
We are just getting started with ComeHome by HouseCanary, and excited to be working with our lending partners to grow from here. There’s more news to come.
We’d love to hear your thoughts about ComeHome. We always encourage user feedback at HouseCanary, because we take pride in the crafting products that serve the growing and changing needs of our clients and end-users. We’re adding exciting new functionalities to ComeHome all the time, and we can always develop custom modules for enterprise clients.
Step 1: Download ComeHome and claim your home to see our homeowner experience for yourself.
Step 2: Let me know what you think. What else would you like to see in your own co-branded ComeHome experience?