Hometap Understand the Pros and Cons

What Is Hometap

Hometap invests in your home and gives you the cash value of the investment. They provide an alternative to the typical home equity loan by supplying cash now, providing a plan of home co-ownership along with a share in your home’s future value.

Hometap Services

Hometap gives you the freedom to choose what to do with your home’s value without borrowing against the house itself. Homeowners are paid today for some of the equity they’ve accumulated in their property.

When you sell your home or before ten years pass, the investment is settled, and Hometap is paid their agreed share.

Cash Payments

After being approved, one lump cash payment is received. This creates an opportunity to use some of the value of your home for whatever you need, whether it’s renovating, investing in a new business, or other ventures.

The Advantages and Limitations of Hometap

No Monthly Hometap Fees or Mortgage Payments

You can finance whatever life event you want without going further into debt.

The Ability to Renovate Your Home to Increase Its Value

You can turn around and use the cash from Hometap to renovate your home. This bumps up its value and is very helpful when looking to sell.

There’s a Time Limit

In ten years or less, based upon the signed agreement, you must meet the investment settlement. You must do this by either buying out with savings, paying through a home equity loan, or selling the home during the term.

Part of the Home Sale Goes Back to Hometap

When the home sells, part of that sale must go back to Hometap for the agreed-upon investment amount.

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