You can be on Entrepreneur’s cover!

There's a New Way to Tap Your Home's Equity Without Loans or Monthly Payments Quickly raise the cash you need with a home equity investment from Hometap.

By Entrepreneur Deals

entrepreneur daily

Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Unsplash

"House-rich, cash-poor" is, for too many homeowners, more than just an old saying. It's a daily reality. While their home may be a valuable asset, they often don't have the money on hand to do major renovations. They don't have the funds in the bank to allow them to take the next big leap in their lives, like starting a new business, paying for school, or investing in new property.

While a home can be used as collateral for a loan, that still leaves homeowners heavily burdened by debt. Luckily, a Hometap Equity Investment offers a new way for homeowners to tap into their home's value: it's an investment strategy, not a loan.

The premise is simple: Hometap buys a share of your home's future value. You get money up front and then you have 10 years to settle the investment, on your own schedule, and whenever you like. There are no monthly payments, and Hometap isn't even guaranteed a return on the money they've invested. This is truly an investment in your home, not a sneaky loan, the company says.

The process for getting a Hometap investment in your home is not only simple, it's transparent and guided. The first thing a prospective Hometap homeowner does is take a quick Fit Quiz to figure out if they qualify. Once that's handled, an Investment Manager is assigned to the homeowner to take them through the next steps, which include completing a third-party physical appraisal of the home. With that finished, Hometap makes a signing offer, and if the homeowner accepts, funds are wired within four to seven days of signing. And then comes the final, and most important step: the homeowner relaxes, enjoying their new cash infusion and a life free of monthly payments and the stress of looming loan debt.

Is Hometap for you?

Hometap isn't for every homeowner. You need to be living in a state where Hometap is operating, and you should have a credit score over 500 (although Hometap does not have a FICO credit score requirement). You must have at least 25-percent equity in your home, and Hometap's investment should be under 30 percent of your home's total value, or under $600,000 (the maximum amount that Hometap can invest).

Hometap says it is the easiest and most transparent way to tap into your home's equity. It has no hidden fees, and there's no sneaky fine print, they say. The process is clear, and the Investment Manager works with you every step of the way to keep you informed. There are no strings — Hometap doesn't get to tell you what color to paint your house, whether you can put on a new addition, or what you plant in your garden. Your house remains your house, and as long as you maintain it, pay your taxes, mortgage, and insurance, you won't hear from Hometap again until it's time to settle the investment.

Your home is your greatest asset, and you should be able to make it work for you. With a Hometap Equity Investment, you can get money today in exchange for a stake in your home's future value. Tap into what you already have, and get in touch with Hometap's experts today.

Entrepreneur Deals

Entrepreneur Deals

Our goal is to feature products and services that we think you'll find useful. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

This Fan-Favorite Masters 2024 Item Is Still $1.50 as Tournament Menu Appears Unscathed by Inflation

The pimento cheese sandwich is a tradition almost as big as the tournament itself.

Business News

I Designed My Dream Home For Free With an AI Architect — Here's How It Works

The AI architect, Vitruvius, created three designs in minutes, complete with floor plans and pictures of the inside and outside of the house.

Making a Change

Learn to Play Guitar Even if You Have No Previous Training for Just $20

Start with the beginner's crash course and learn how to play guitar in no time.

Side Hustle

This Dad Started a Side Hustle to Save for His Daughter's College Fund — Then It Earned $1 Million and Caught Apple's Attention

In 2015, Greg Kerr, now owner of Alchemy Merch, was working as musician when he noticed a lucrative opportunity.

Marketing

Save Big and Get This Pro Collage App for $39.99

Edit, adjust, and create collages in seconds.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.