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Hometap Review 2021: Tap Your Home Equity Without Extra Payments

June 30, 2021

Investor Junkie

If you’re looking to access the equity in your home but you’re not looking forward to the new monthly payments that come with a loan, it’s time to take a close look at Hometap.

It provides an opportunity to receive debt-free cash by selling a percentage of the equity in your home. The cash can be used for just about any purpose. Pay off credit card debt. Buy a second home. Or even start a new business.

When you sell the home or settle the investment, you pay Hometap an agreed-upon percentage of the then-current appraised value of the home.

Boston-based Hometap was founded in 2017 and is a home equity investment service. That is, it provides customers with cash for the equity in their homes but without the burden of monthly payments. Hometap has a Better Business Bureau rating of A+, the highest rating on a scale of A+ to F. It’s also received 4.9 out of five stars on Trustpilot, with 92% of reviewers giving it an “excellent” rating.

This article originally appeared on Read the full article.