Have questions? We can help.

So what exactly does Hometap do?

Hometap is a way for homeowners to be paid today for equity they’ve accumulated in their property - without getting a loan. We invest alongside homeowners, providing cash today and participating in the proceeds at the time of a sale.

What's the difference between Hometap and a loan?

Unlike a lender, we receive no monthly payments or guaranteed return on the money we’ve invested. For some, taking an equity investment can be an intelligent way to fund the opportunities and needs that come up in life while eliminating the “debt-stress” of increased monthly payments.

Who can use Hometap?

Because there are a lot of factors that go into determining if Hometap can make an investment in a property, there isn't a black-and-white list of criteria. Each property is evaluated independently. That's why we suggest homeowners start with the Fit Quiz, and then complete an Investment Estimate so that our Investment Managers have the information they need to speak with you about your specific scenario. Some of the things that tend to make homeowners an ideal fit include:

  • Your single-family home or condo is located in a state in which we’re currently operational
  • While we don't have a FICO credit score requirement, homeowners' credit scores are typically above 600
  • You have a minimum of 25% equity in your home
  • You live in your home at least six months out of the year (we do not currently invest in vacation homes)
  • The investment amount you’re looking for is under 30% of your total home value or under $300,000 (this is the maximum amount that we can invest, and it will depend on home value and equity percentage, as well)

How long do I have to settle a Hometap Investment?

The term of a Hometap Investment is 10 years. You can either sell your house during the term or you can buy out our Investment with savings, or by taking out a home equity (or other) loan. We call this Settling the Investment.

What is the process for getting a Hometap Investment?

Getting a Hometap Investment is done in a few simple steps:

  1. Complete an Investment Inquiry

    You’ll create an account and submit an Investment Inquiry through the Hometap website.

  2. Speak with your Investment Manager

    If we think an Investment might be possible, we will send you an Investment Estimate, which includes estimated terms specific to your property. Your Hometap Investment Manager will set up a call with you to walk through the numbers and answer any questions you may have about the Application process.

  3. Submit your Application

    Once you’ve uploaded or scanned your documents to your computer, grab a cup of coffee and get started – this Application shouldn’t take more than 20 minutes.

  4. Closing

Before we can prepare the final Investment Details, we will schedule a physical appraisal of your property using a third party appraiser. Once the appraisal is complete and the Investment Details are finalized, we can sign the documents and begin the transfer of funds!

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