Hometap among Built In Boston’s 50 Startups to Watch in 2020
According to Magnify Money, 40 percent of mortgages originated with banks in 2018. But working with banks has its own challenges in terms of accessing loans, managing credit scores and navigating interest rates. With Hometap, homeowners can access cash from the equity they’ve accumulated on their homes by selling a percentage of the equity in their homes to Hometap. When the home sells or the homeowner settles the investment, Hometap is paid out an agreed-upon percentage of the sale price or current appraised value. The company uses automated technology to streamline the process and offers proprietary financial models and forecasting tools. The startup raised $100 million in Series B funding in December 2019. This article originally appeared on Built In Boston. Read the full article.