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HEI Growth Potential: Hometap Quoted in HousingWire

April 1, 2024


“What if homeowners could tap into home equity without taking on debt?”

When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period.

Instead of taking on additional debt such as a home line of credit (HELOC) or home equity loan to tap into equity, these deals — often referred to as home equity agreements (HEAs) or home equity investments (HEIs) — are debt-free, equity-based financing that provide relief for clients with a variety of financial needs, said Dan Burnett, head of investor product at Hometap.

This article originally appeared on HousingWire. See the full article here.