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

		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 Get an Estimate	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

		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	13.9-17.8% of home value Dependent on appraised home value at settlement View Pricing Details	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

4.9 / 5

Based on over 2000 Trustpilot Reviews

“For people like myself who have a lot of equity in their home but do not qualify for traditional options to access it...Hometap was a great innovative option ”
Kai Moi
“The whole process progressed naturally like a river meandering, gently and peacefully. The other traditional options for me were demeaning to say the least,  what with the time and effort  that it takes.”
Jason R.
“Over the years we've gone through mortgages, refi's, etc. This, while not being quite as extensive as a purchase, was by far easier and much smoother than other refis or loans.”
Dave S.
“If you're looking to use your home's equity and hate the idea of getting a loan I highly recommend using Hometap.”
Ryan

See how a Hometap Investment compares to traditional solutions.