"The majority of homeowners we work with have smart ways to put the money in their homes to work for them and as a result, reduce their long term dependency on the future value of a single property."— Jeffrey Glass, Hometap CEO
Homeowners who apply for shared equity products like Hometap understand the importance of diversifying their wealth - that is, not putting all of their eggs (money) in one basket (their home).
Relying solely on the equity built up in your home as a means for wealth, significantly reduces your opportunity to make other investments - buying another property, growing a business or investing in real estate.
Using the funds from tapping into your home’s equity can be a smart way to diversify your financial portfolio and grow your investments. About 1 in 5 Hometap Estimates are sent to homeowners looking either looking to invest - either in a second property, a business, or to simply diversify their financial portfolio.
California homeowner John has a background in financial services and learned about Hometap while researching home loan alternatives. When it came to accessing his home equity to make progress toward his goals, “everything made sense to me...it was a great experience,” said John.
John had a 3-part plan for how he’d diversify the capital from his Hometap Investment, including paying off current debt, building up college savings for his son, and investing in the growth of his girlfriend’s business.