Noah Now Available on the East Coast

Noah News By Noah - October 20, 2020

Since 2016 we’ve been partnering with homeowners in California, Washington, Colorado, Utah, and Oregon, where we have already invested in over $230 million worth of homes.  Today, we’re proud to announce that we’re vastly expanding availability and are now available to homeowners on the East Coast including New York, New Jersey, Massachusetts, Washington D.C., Virginia, and Maryland.  

“Homeowners deserve a way to access their hard-earned equity without being forced to sell their homes or to incur more debt.  Increasingly in the US, homeowners are house-rich but cash poor. Collectively, they are sitting on $20 trillion of home equity wealth, yet face mounting expenses without a clear way to access it,” said Sahil Gupta, Founder of Noah. “With Noah, homeowners get access to that cash and we become a partner, helping our customers protect and enhance their most valuable asset, their homes.”

How We Work With Homeowners 

By investing in individual homes, we allow homeowners to tap into their hard-earned equity.  We provide each household $25,000 to $350,000 in upfront funding in exchange for a share in their home's value. There are no restrictions on that money, and no monthly payments.  It’s not debt, so it does not weigh down a credit report. Homeowners owe nothing for 10 years, and if they decide to exit sooner, there are no prepayment penalties.

When the agreement ends, homeowners can choose to buy Noah out with savings, sell the home, or refinance it. Our share is based on the home value, whether it has gone up or gone down. If the home has grown in value, Noah shares in the gain.  If the home has lost value over the term, the amount owed to Noah also declines.

Unlike traditional financial institutions, we pride ourselves on being a true partner to homeowners.  Homeowners can use their funds without limitations, investing in their small businesses, paying off debt, renovating their homes, or simply enjoying the additional income.  All of our customers also have access to Noah’s Homeowner Protection Program (HPP), which is designed as an add-on investment to protect homeowners and investors. Homeowners can access up to $25,000 or three months of mortgage payments which allows us to provide a homeowner additional support in the rare case of financial distress or need for emergency home repairs. 

Expansion Covers 53% of the American Housing Market 

Already, homeowners have accessed almost $29 million of their own wealth and built an additional $10 million in home equity wealth post financing with Noah.  And with this expansion, Noah Home Value Investments are now available to 53% of the American housing market, allowing us to further our mission to help homeowners unlock the value in their homes to live the lives they aspire to.