New type of home equity loan caters to major renovation projects

A new breed of financial technology firms is pitching American homeowners on a different way of tapping into home equity.

If you’re sitting on a pile of it, these companies — including Haus, Hometap, Noah, Point and Unison — will buy a piece of your house. You repay the “co-investment” when you sell.

This story originally appeared on Bankrate. Read the full article here.