Home Equity Investment startup Hometap expands into new states

Homeownership investment startup Hometap has expanded into six states, the company announced Wednesday, making its services accessible to 20% of U.S. homeowners. The company launched in Massachusetts last summer and quickly expanded to California.

Now, its footprint also extends to Florida, New York, North Carolina and Virginia. Hometap invests in homes alongside homeowners, offering them access to up to 20% of their equity in cash for a 10-year term in exchange for the chance to share in their home’s appreciation.

This article originally appeared on HousingWire. Read the full article.