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Homeowner FAQs
- What are the homeowner qualification criteria for Titus?
- To qualify, homeowners must meet the following criteria:
- Credit score of 640+*
- Verified property ownership
- Better than 80% loan to value ratio (including $25k Titus line)
- Signed listing agreement
- To qualify, homeowners must meet the following criteria:
- Will applying impact credit scores?
- No, Titus only performs a soft credit pull during the application process, so there’s no impact on the home seller’s credit score when applying or getting approved.
- However, if a borrower defaults on the loan or fails to repay, Titus may report the delinquency to credit bureaus, which could negatively affect credit.
- What happens if the home doesn’t sell?
- When a home seller chooses to “Pay at Close” with Titus, they are starting a 6-month personal loan that will be repaid at the earliest of the following:
- The home sells
- Six months pass
- The listing is canceled or withdrawn
- If the home hasn’t sold by the time the loan is due, borrowers will have the option to repay over six additional months at an 18% APR.
- When a home seller chooses to “Pay at Close” with Titus, they are starting a 6-month personal loan that will be repaid at the earliest of the following:
- What percent of homeowners are approved?
- To date, 85%+ of homeowners that have applied for Titus have been approved.
- How does loan payback work?
- When the home is marked as contingent or pending, both the agent and client receive a notification to provide the closing attorney’s information.
- Titus then sends an invoice directly to the closing attorney, and the charge will appear on the closing statement.
- What fees are there to home sellers?*
- Titus charges a risk-based flat fee to home sellers that ranges from 0% to 8%. This fee is based on the home seller’s credit score.
- View state by state rates here
- Can Titus be used for all listing prep?
- Yes. Approved home sellers will qualify for $25,000 or $50,000 depending on their home equity and they can use that money to pay for all home prep as long as their home is under an active listing agreement.
- How does Titus make money?
- Titus makes money by charging a small percentage-based fee to businesses as well as a risk-based flat fee for borrowers starting at 0%.
- Can Titus be used for investment properties?
- Yes, Titus can be used for investment properties held in an LLC or Trust. Additional documentation will be required, including proof of beneficial ownership and mortgage details.
- Note that Titus loans are always personal loans made to an individual, even if the property is owned through an entity.
- How does loan payback work?
- Titus monitors the status of home listings. When a listing changes to contingent or pending, the seller will receive a notification to enter the closing agent’s information.
- Once submitted, Titus will automatically send a payoff invoice to the closing agent. The Titus charge will then appear on the closing statement and be paid from the sale proceeds.
- If the home sells off-market or the Titus charge is missing from the closing statement, please contact us immediately at support@gotitus.com.
- Is it possible to pay businesses that are not on Titus?
- Yes. Home sellers can either transfer Titus funds to their personal bank account for cash transactions or pay businesses that aren’t part of the Titus network. Just note that any payments to out-of-network businesses or personal accounts will include an additional 4% fee.
*Updated April 2025. Scores vary by state.