Using the funds from tapping into your home’s equity can be a smart way to pay down debt. However, 65% of homeowners surveyed by Hometap aren’t accessing the funds from their home’s equity simply because they don’t like debt or the monthly payments associated with common home loans.
**What if you could access those funds without any interest or monthly payments? **
Well now, you can. With access to the cash from your home’s equity today, and zero interest or monthly payments, homeowners looking to pay down down have found Hometap to be a smart choice.
More than half of all Hometap Investments go to homeowners looking to consolidate or pay down their debt.
As a single father with a son quickly approaching college, John knew he was in for an expensive next few years. With a background in Financial Services, John learned about Hometap while researching loan alternatives and was intrigued by the ability to access funds without a monthly payment.
Taking a Hometap Investment enabled John to have extra funds to help send his son to the college of his choice while also paying off his credit card debt. Read more of John’s story here.
As busy parents both juggling full-time jobs, their side business, and child care, Samantha and Edward needed an alternative income stream to fuel their financial growth. After doing research into home equity loans, Samantha and Edward decided to access some of their home’s value with Hometap.
Samantha and Edward used their Hometap capital to pay off their debts. Down the line, they’ll leverage their anticipated improved credit score to refinance existing loans for smaller monthly payments or better interest rates.