A home equity investment allows you to leverage your home’s value without monthly payments
If you are looking for a way to help you achieve your financial goals, you are not alone. An insane number of homeowners are taking advantage of today’s housing market. Obtaining equity in your property can be done in a variety of ways, including home equity loans and HELOCs. But if none of these options are right for you, you might be interested in a Home equity investment.
A capital investment means claiming money today in exchange for a portion of the future value of your home. This means that you will get the capital you need without being burdened with risky loans or monthly payments. If choosing to invest in the property you already own sounds like a solution that would work for you, you need to know Investing in Hometap shares.
Hometap is not a loan agency. They don’t lend money. They invest alongside homeowners like you providing cash when you need it and then participating in the proceeds after you’ve sold your home. To put it simply, a Investing in Hometap shares is designed to pay homeowners the equity they’ve built up on their property without having to take out a loan. Because Hometap is not a lender, you don’t make any monthly payments. And Hometap does not get a guaranteed return on the money invested in your property. Hometap is the perfect way to finance your life without having to worry about increasing monthly payments.
Each Hometap Home Equity investment lasts 10 years. When the 10 years are up, you can choose to buy back the investment with your own savings, take out a loan, or sell your house to return. Hometap’s investment. This process is called the settlement of the investment.
Investments in Hometap shares are completely transparent and easy to do. It all starts with online prequalification, which can be done on the Hometap website in seconds. Then an investment estimate is prepared for your property based on the information provided by you. Then you will be assigned to a dedicated investment manager to help you complete the last part of the process. If everything seems to be mutually beneficial and you decide to apply, you’ll complete a short online application form.
To advance, Home faucet order a third party home appraisal to determine the value of your property. Based on the result of the assessment, combined with the information found in your application, your investment offer will be prepared. From there you will review the offer and once you accept it you will schedule the signing with your Hometap agent. A few days later, the funds will be transferred to you in exchange for Hometap’s investment. The best part is that you are free to use that money however you choose. All you need to do is make sure you sell or settle the investment before the end of your 10-year term so that you can repay the agreed portion of Hometap.
Decide on a Investing in Hometap shares is a process in itself, as there is no perfect list of property criteria that will make you eligible. Indeed, each equity investment made by Hometap is valued independently. And if you qualify, you will complete a Investment estimate so that Hometap Investment Managers can acquire the information necessary to guide you through the process.
Here are some of the qualities that tend to make a good fit:
- You have a minimum of 25% equity in your home.
- Your single family home or condo is located in a condition in which Hometap is currently operational.
- You have a credit score above 600 (although Hometap does not have a FICO credit score requirement).
- The investment amount you are looking for is less than 30% of the total value of your home or less than $ 400,000 (this is the maximum amount Hometap can invest. However, the whole process also depends on the valuation of your home and percentage of equity).
Find out if Investing in Hometap shares is for you by starting the process today. With Hometap, earning equity is as easy as owning property and getting approved. There are no surprises, fine print or hidden charges. So what are you waiting for? See if Hometap is right for you by applying today.
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