Find the right financing fit for you.
You have lots of options for accessing your equity. We’ll help you make sense of them to make the best decision.


How we stack up
Take a look at Hometap Investments and the most common home financing options, side by side.
Qualification Criteria
Home Equity Loan HELOC Cash-Out Refinance Reverse Mortgage | ||
---|---|---|
Credit score | Typically over 600 Min score of 500 | Min score of 620 Min score of 620 Min score of 620 No firm requirement |
Average loan-to-value | Max LTV of 75% | Max LTV of 80-85% Max LTV of 80-85% Max LTV of 80% Max LTV of 50%-65% |
Average debt-to-income | N/A | 43% 43% 50% N/A |
Other restrictions (vary by lender) | No prepayment penalties | Prepayment penalties Minimum annual draw requirements, prepayment penalties + cancellation fees occur with some lenders Prepayment penalties + cancellation fees Must be 62+ years old, must own home outright or have single primary lien |
Pricing & Terms
Home Equity Loan HELOC Cash-Out Refinance Reverse Mortgage | ||
---|---|---|
Investment/loan amount | $100,000 | $100,000 $100,000 $100,000 $100,000 |
Term/effective period | 10 years | 10 years 10 years 10 years Loan repaid when borrower passes away or sells home |
Loan | No | Yes Yes Yes Yes |
Interest rate type | None | Fixed or variable Typically Variable Fixed or variable Fixed or variable |
Average interest rate | No interest | 7.74% 7.30% 6.37% 6.93% |
Monthly payment | None | $1,165 $1,112 $1,050 None |
Costs & fees | 3% of investment + signing costs | 3-5% of the loan amount $100 in annual fees 2-5% of loan amount Origination fee up to $6,000 + 2% MIP fee + monthly option fee up to $35 |
Due at settlement, sale, or refinancing | Outstanding principal Outstanding principal Outstanding principal Outstanding principal + interest + mortgage insurance |
*Example based on home value of $1 million
**Loan interest levels and payments are based on a credit score of 730. Rates sourced from 2022 Bankrate.com data
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Guide
Weigh your options
See how a Hometap Investment compares to traditional solutions.