Hometap Review
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Hometap Reviews

Andrew Omalley


Andrew Omalley

Home equity investment product
Home equity investment product
About Hometap

Hometap is a fintech company that was started in 2017 with the goal of making homeownership a lot more accessible and not as stressful. It brings a unique type of home equity investment product to the table that allows people to tap into the equity of their homes. They can do so without taking on extra debt, selling their home, or getting a loan.

You will effectively be exchanging a percentage of your home’s future value for cash. This Hometap home equity Investment review will look at all aspects of this offering so you can decide if it would work for your needs.









Hometap Mortgages Review

Hometap Mortgages Highlights


$15,000 - $600,000


10-year effective













Pros & Cons

  • Simple and straightforward process
  • No monthly payments or interest charged
  • Soft credit check to get an estimate
  • No home inspections
  • Caters to lower credit scores
  • Your home might go up in value significantly
  • A forced sale might be a possibility if you don’t have the money to settle

Mortgage Type

  • Mortgage Purchase
  • Home Equity Loan

Hometap Mortgages Terms & Requirements

Just like any type of home equity company, Hometap has some terms and requirements in place that you should be aware of before you proceed any further with an application.

Hometap generally caters to a wide-ranging audience, including people who might not qualify for traditional types of financing. However, there are some requirements in place. Hometap will usually only deal with applicants with at least 25% equity in their home and have a record of making insurance and mortgage payments on time.

It usually prefers homeowners to have a FICO score of more than 600, with the absolute minimum being 500. Hometap generally will provide funding sums of between $15,000 and $600,000. It also only deals with people in certain states. Finally, the max loan to value (LTV) that Hometap will deal with is 75%.


You are able to get cash of up to $600,000 from Hometap as a result of tapping into your home equity. This sees the homeowner exchange a percentage of the home’s future value.

There is no rule in place as to how you use the funds. Naturally, the homeowner will need to keep making their mortgage repayments, pay property taxes, keep the home in good condition, and keep paying homeowners insurance as part of the HomeTtap agreement.

Repayment Terms

You do not need to pay any interest or monthly payments if you use HomeTtap to tap into your home equity. However, there is a 3% servicing fee of the total investment amount in place. There is also a 10-year effective period for this type of home equity option.

When you settle this investment at that date or before it, Hometap gets a payout of the initially agreed percentage of the home’s current value or the sale price. There are no early settlement penalties in place. You are able to settle with Hometap through refinancing, a buyout, or selling the home.

State Availability

Available - Arizona, California, Florida, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Virginia, Washington.

Not Available - Alabama, Alaska, Arkansas, Colorado, Connecticut, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, West Virginia, Wisconsin, Wyoming.

Privacy & Security

Hometap currently has an A+ rating for the better Business Bureau, and it has a 4.8/5 rating from Trustpilot. HomeTap also ensures that it protects all sensitive data that people share, and it will never share your data with any third party.

There are extensive security protocols in place to ensure that the online application process is very secure. Overall, Hometap appears to be an above-board operation that caters to the needs of its customers.

Customer Support

During the course of your time working with Hometap, you will have a single point of contact who is a trained professional in the space. On the Hometap website, there is a lot of useful information regarding the process of tapping into your home equity.

You can learn how Hometap’s approach differs from other types of home equity loan companies. There is a comprehensive help center that answers many common questions. You can also get in touch with the Hometap team through live chat, by email, or over the phone.

Phone Support
(855) 223-3144
8am-8pm EST
8am-5pm EST

In Conclusion

Home Equity Quiz offers potential borrowers a fast way to find decent refinancing and mortgage offers they qualify for. By using it, you can cut out a lot of mortgage shopping time. It has its issues — such as not always finding you a loan or lacking a bit in customer support — but it’s a straightforward tool that can help a lot of borrowers.


This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.


Andrew Omalley

Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.