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How Do Thousands of Homeowners Tap Into Big Money Without a Loan?

The Money Manual By The Money Manual
February 3, 2025

Need money for a big-ticket item?

If you need cash — and maybe you need a lot of cash — the prospect of taking out a traditional loan with a high interest rate can seem really daunting – and for good reason. However, if you’re a homeowner, the answer could be in the very walls that surround you.

That answer is called a home equity investment.

Not to be confused with a home equity loan — a very different thing that requires on-time monthly payments — Hometap invests in your home, giving you a lump sum of money in exchange for a share of its future value.

When you sell your home down the line, Hometap takes a share of the proceeds. And if the price of your home depreciates, Hometap accepts that depreciation without compliant.

Here’s how Hometap works:

  1. Request an investment via Hometap (up to 25% of your home’s value or $600,000 max)
  2. If Hometap agrees to take a stake in your home it will send you the money (deducting 3% closing fees)
  3. Once you have the money it’s yours to do with as you wish, without having to worry about monthly payments and high interest rates
  4. When you ultimately sell your home, Hometap gets an agreed upon percentage of your home’s value, whether the value has increased or decreased

Which means that you won’t be taking on debt or struggling month-to-month after dealing with your big-ticket item. In effect, you will be enjoying the benefits of ownership based on your needs.

Out-of-pocket expenses?

There are no out-of-pocket expenses with Hometap. Fees, including upfront expenses, are deducted from the total investment amount, so you are not stuck having to put money in to get money out. Fees are: 3.5% of investment: appraisal fee, title charges, govt. recording and transfer fees. Appraisals: $299-$1,000+ depending on the property and eligibility for virtual appraisal.

Is Hometap trusted?

Yes, Hometap has a stellar reputation in the industry, which is backed up with rave reviews and star-ratings across trusted sites online.

Picture of an idyllic home with a couple viewed sitting inside and a car parked outside the garage.
Hometap is recommended by thousands of homeowners.

Reviews

The following were taken from the top four reviews on Trustpilot at time of writing.

5-star review of Hometap company on Trustpilot.
“A better way to access equity in your house.”
Five-star review on the Trustpilot review site by a client of Hometap.
This client was so happy, she came back for more.
Great service is a growing part of Hometap’s reputation.
Another 5-star review for Hometap on the Trustpilot website.
The internet meets word-of-mouth recommendations.