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How to use Hitch to upgrade your home

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Apr 3, 2023

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Table of Contents

#1. Identify your home renovation needs
#2. Create a project brief
#3. Review proposals
#4. Review proposals
#5. Choose a contractor and get started

Are you planning to upgrade your home but not sure where to start? Hitch, a home renovation platform, can help make your home improvement dreams a reality. Hitch connects homeowners with vetted contractors and designers, making it easy to tackle any home renovation project, big or small. Here's how you can use Hitch to upgrade your home:

#1. Identify your home renovation needs

Start by identifying what you want to accomplish with your home renovation project. Do you want to remodel your kitchen, add an extra bedroom, or upgrade your bathroom? Knowing your goals will help you determine what kind of help you need from Hitch.

#2. Create a project brief

Once you've identified your renovation needs, create a project brief on Hitch's platform. Be sure to include details about your renovation goals, budget, and timeline. This will help Hitch match you with the right contractors and designers for your project.

#3. Connect with vetted professionals

Hitch has a network of vetted contractors and designers who can help you with your renovation project. Based on your project brief, Hitch will match you with the right professionals who can help bring your vision to life.

#4. Review proposals

Once you've connected with professionals, you'll receive proposals from them. Review each proposal carefully, considering factors like cost, timeline, and experience. You can also read reviews and see photos of past projects to get a better sense of each professional's work.

#5. Choose a contractor and get started

Once you've selected a contractor or designer, it's time to get started on your renovation project. Hitch will provide a project management tool to help you keep track of progress and stay in communication with your contractor.

With Hitch, upgrading your home has never been easier. Whether you're looking to remodel your kitchen or add an extra bedroom, Hitch can connect you with the right professionals to help make your vision a reality. Follow these steps to get started on your home renovation project today. Click here to learn more!”

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1. Qualified applicants may borrow up to 95% of their home’s value. This does not apply to investment properties.2. HELOCs have a 10-year draw period. During the draw period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) the total of all accrued finance charges and other charges for the monthly billing cycle. During the draw period, the monthly minimum payments may not reduce the outstanding principal balance. During the repayment period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) 1/240th of the outstanding balance at the end of the draw period, plus all accrued finance charges and other fees, charges, and costs.The lender will calculate this amount by taking the outstanding Account Balance on the last day of the draw period and dividing it by 240 months and then adding any finance charge that accrues but remains unpaid during the monthly billing cycle plus any other fees, charges and costs to the fixed principal payment that is due. During the repayment period, the monthly minimum payments may not, to the extent permitted by law, fully repay the principal balance outstanding on the HELOC. At the end of the repayment period, the borrower must pay any remaining outstanding balance in one full payment.3. The time it takes to get cash is measured from the time the Lending Partner receives all documents requested from the applicant and assumes the applicant’s stated income, property and title information provided in the loan application matches the requested documents and any supporting information. Most borrowers get their cash on average in 21 days. The time period calculation to get cash is based on the first 4 months of 2024 loan funding's, assumes the funds are wired, excludes weekends, and excludes the government-mandated disclosure waiting period. The amount of time it takes to get cash will vary depending on the applicant’s respective financial circumstances and the Lending Partner’s current volume of applications. Closing costs can vary from 3.0 - 5.0%. An appraisal may be required to be completed on the property in some instances.4. Not all borrowers will meet the requirements necessary to qualify. Rates and terms are subject to change based on market conditions and borrower eligibility. This offer is subject to verification of borrower qualifications, property evaluations, income verification and credit approval. This is not a commitment to lend.5. The content provided is presented for information purposes only. This is not a The content provided is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply.