Pay off your debts

Home equity investments from Hometap provide a way for homeowners to be paid today for equity they’ve accumulated in their property — without monthly payments. We invest alongside homeowners, providing cash today in exchange for a share in the home’s future value. Homeowners can settle the Investment any time within 10 years, and use the funds for anything they’d like.

A home equity investment can be a flexible solution for eliminating or reducing debt because it doesn’t come with monthly payments, and can even strengthen your financial standing. For example, we’ve found that some homeowners that use their Investment funds to pay off debt may see a FICO credit score increase.

Hometap makes home equity investments in people’s homes. Unlike with a home equity loan, homeowners make no monthly payments to Hometap during their Investment term, there are no employment, income, or debt-to-income requirements, and we have no guaranteed return on the money we’ve invested. When the homeowner settles the Investment, they’ll pay a previously agreed-upon share to Hometap.

For some, taking an equity investment can make sense as a way to fund the opportunities and needs that come up in life while eliminating the stress of increased monthly payments.

Compare home equity investments and common home financing options side by side.

Because there are a lot of factors that go into determining if Hometap can make an Investment in a property, each property is evaluated independently. That’s why we suggest you start an Investment Estimate so that our Investment Managers have the information they need to speak with you about your specific scenario. Here are some of the qualities that tend to make for a good fit:

• Your home is located in a state in which we’re currently operational. We currently invest in the following property and occupancy types:
  • Single-family homes
  • Condos
  • Vacation and rental properties
  • Multi-family homes (1-4 units)
  • Manufactured homes
• You have a minimum FICO requirement of 575
• You have a minimum of 25% equity in your home
• You’re looking for an investment between $15,000 and $600,000 (minimum amount varies by state, and maximum amount will depend on home value and equity percentage)

The more you know about your home equity, the better decisions you can make about what to do with it. Do you know how much equity you have in your home? The Home Equity Dashboard makes it easy to find out.

The effective period of a Hometap Investment is 10 years. You can either buy out our Investment with savings, take out a home equity (or other) loan, or sell your house during the effective period. We call this settling the Investment.