Common questions

Who is WowRate?

A marketing and lead generation company, not a lender. Every loan is made by a separate licensed lender, and WowRate holds the loan after closing as note holder.

Why 12 months?

Because these loans are bridges: to a home sale, to a standard refinance, to a project’s exit. The term is the product. A renewal of up to 12 months is available once, subject to lender approval.

What does it cost?

The Calculator page shows the note rate, origination fee, and APR for Move and Reset, and the rate and points for Invest, with worked examples. Your exact terms come from the lender: a Loan Estimate for Move and Reset, a term sheet for Invest.

Are there monthly payments?

It depends on the option. Move has no monthly payments: interest accrues and is paid with the principal when your former home sells, or at month 12. Reset has 12 interest-only monthly payments. Invest is interest-only, paid monthly.

Is the calculator an application?

No. It is anonymous, collects no personal information, and its results are estimates, not offers.

What states?

Washington, Oregon, Colorado, Florida, and Arizona for homeowner loans; investment-property lending in Washington, Oregon, and Colorado.

What happens at month 12?

Your exit: the sale or refinance you named at the start pays off the loan. For Move, that means principal plus accrued interest, due when your former home sells or at month 12, whichever comes first. If you qualify and need more time, one renewal is available, subject to lender approval.

See Disclosures for representative APR