The Ultimate Guide to Your Home Equity Dashboard
By Hometap Team on July 19, 2023Last updated April 1, 2024
If you’re new to the Home Equity Dashboard, this blog post will give you an overview of what it is, how you can best leverage it, and what new tools you’ll want to know about. The Dashboard is a free online tool Hometap created to provide you with a simple way to monitor your home value and equity growth over time — and intel on how to actively grow and leverage that equity.
The Dashboard includes features we’re really proud to share with you, including an interactive scenario planner so you can see a clearer picture of how your home value might change with each financial decision you make (and save it for later reference). It also includes a return on investment renovation calculator, maintenance resources to preserve and grow your home’s value, and special offers from some of our trusted and vetted partners.
The Home Equity Dashboard is free for all homeowners to use, and it takes just two minutes to create an account. If you already have a Hometap account because you've received a home equity investment, it’s even easier! You can already access all of the features of the Dashboard right from your Hub.
Navigating This Guide
This guide is designed to make it easy for you to see the latest features, learn how to use them, and locate them. We'll also walk you through all of the not-so-new features for you to refer back to at any time. Let’s get into it!
New Features in Your Dashboard
Hometap’s Home Value Estimate
Where you can find it: In your Home Equity tab
Get the intel you need about your home to make the best decisions possible. Hometap’s Home Value Estimate uses a unique blend of industry-proven data sources to give you an accurate and up-to-date number, whenever you need it. Plus, you can forecast your home’s value and equity 10 years down the road.
Hometap Insights
Where you can find them: At the top of your Home Equity tab
We’re handing you the keys to make the most of homeownership. Hometap Insights are valuable tips and fast facts, customized just for you, designed to put you ahead of the curve.
Home Equity Scenario Planner
Where you can find it: Toggle over to 'Plan for the future' in your Home Equity tab. (You can also find it under Today's Equity Forecast in 'Today's View')
Weigh the options for tapping into your home's equity with confidence. View your equity, now and down the road, so you can plan ahead for a brighter future — and compare common financing solutions, side by side, to make the best decision for your goals and understand the cost of each over time.
Note: you'll only see financial products that are available in your area. For example, home equity investments (HEIs) will not be shown in states where HEIs aren't currently available.
Previously Released Features by Category
Already know what you’re looking for? Click to go there directly.
Account
Where you can find it: The navigation menu in the top right corner of your screen
Your account is where you can manage your profile details, reset your password, and find answers to some of your most frequently asked questions.
Multiple properties
If you have more than one residential property you’d like to track in your Dashboard, whether it’s an investment property or a vacation home, you can now add (and seamlessly toggle between) them!
Home Equity
Your Dashboard will display your home’s projected value in 1, 3, 5 and 10 years, how much equity you can expect to have at that time based on different appreciation scenarios, and how you can expect your debt to decrease over time.
By entering all your mortgage information and other debts on your home, you can compare your current state in "Today's view" to different hypothetical scenarios in "Plan for the future." Here you can visualize various outcomes in appreciation, and the impact a lien (such as a HELOC) or a renovation may have on your home over time.
Have additional liens you want to include in your Dashboard? When you're looking at Today's View, you can select “Edit property details” and fill out the appropriate fields to instantly see a fuller financial picture.
Renovation Calculator
Where you can find it: Under your Equity forecast (Look for 'Plan a renovation')
The Renovation Calculator was designed to help you find the best renovation scenario to suit your needs and budget. Select your project and desired quality tier to learn the average cost for your area, the estimated average value it will add to your home, and other considerations to help you prepare for your renovations. You can even add a planned renovation to your current home value to see how it will impact that value over time in different cases of appreciation.
Home Maintenance
Where you can find it: The 'Maintenance' tab at the top of the page
Stay on top of the home maintenance tasks that help protect and preserve your home value. Our maintenance feature provides a checklist to help you prioritize projects by season, giving you tips on what to handle yourself and what to outsource, the equipment you’ll need, how to successfully execute each task, and suggested frequency.
Featured Offers
Where you can find it: The 'Featured Offers' tab at the top of the page
We partner with home brands that align with our mission to help homeowners like you achieve their goals with less stress and more control. To date, those partners include Simplisafe home security, and Liberty Home Guard home warranites.
These partnerships allow us to offer exclusive rates and discounts to our loyal customers.
Resources
Where you can find it: The 'Resources' tab at the top of the page
Our resources are an ever-evolving collection of tools, articles, and guides on topics ranging from home financing to achieving goals like paying off debt and renovating. Our market insights will keep you apprised of the latest events that have the potential to impact you and your property.
You should know
We do our best to make sure that the information in this post is as accurate as possible as of the date it is published, but things change quickly sometimes. Hometap does not endorse or monitor any linked websites. Individual situations differ, so consult your own finance, tax or legal professional to determine what makes sense for you.
