We all have our dream homes that we fantasize about. But when it comes time to funding those dream renovations, high interest rates and monthly payments can be enough for many a homeowner to leave those dreams up in the clouds.
At Hometap, we believe homeowners should have a choice about how they access the hard-earned equity they’ve built up in their homes. About 48% of all Hometap Estimates are sent to American homeowners looking to fund their next home renovation.
For some homeowners, taking a Hometap Investment proved to be a smart way to tap into their home’s equity to not only fund their renovation, but also help increase their homes value for when they do sell down the road.
With a grandchild on the way, Boston homeowner “Jayne” knew she couldn’t continue hosting holidays for her growing family in her small kitchen. But she also knew that, living on her single income, a renovation wasn’t financially realistic.
As Jayne started comparing home renovation loans, the idea of taking on an additional monthly payment (plus interest) didn’t excite her. That’s when she heard about Hometap, which gave her the ability to tap into her home’s equity to fund her renovation - without taking on another monthly payment or interest.
Jayne leveraged the capital from a Hometap Investment to renovate her kitchen so she can continue hosting her growing family for years to come!
About 5 years into their starter home, Boston homeowners “Kelly and Clark” wanted to give their kitchen the renovation it needed to increase its value, but didn’t want to add another monthly payments on top of their student loans, current mortgage, and other bills.
After learning that Hometap offers access to your home’s built-up equity without any interest or monthly payment, Kelly and Clark applied. In under a month, the couple was able to get access to their funds and already started working with a contractor.
Taking a Hometap Investment has enabled the couple to increase their home’s overall value, enabling them to make an even larger profit when they do decide to sell.
Clark, Kelly, and Jayne are not real, but represent homeowners that have taken a Hometap Investment for similar situations as a way to show you all of the ways you can use the capital from a Hometap Investment - the choice is yours!