Hometap Obtains $100 billion to assist Significantly more U.S. Residents Availableness their home Equity Without Taking on Obligations

Hometap Obtains $100 billion to assist Significantly more U.S. Residents Availableness their home Equity Without Taking on Obligations

Money will strength Boston-dependent company’s continued national expansion

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BOSTON, (Globe NEWSWIRE) — Hometap, that gives a sensible, the brand new loan substitute for tapping into house security instead taking up debt, now launched which provides protected $100 billion in the the new financing. The capital boost is sold with ICONIQ Capital, LLC also Hometap’s most recent buyers Standard Stimulant, G20, Mainstay and Western Family members Opportunities, the promotion sleeve off AmFam Insurance rates.

With this additional financing, Hometap plans to remain the all over the country extension, with the goal of bringing its total reach to approximately 75 percent of U.S. homeowners. The company will also be expanding its platform capabilities and significantly growing its cross-functional team to continue to deliver a best in class homeowner experience.

Hometap Obtains $100 billion to aid Much more U.S. People Availability their property Guarantee In place of Trying out Personal debt

We’ve been working diligently towards our mission of making homeownership less stressful and more accessible for as many U.S. homeowners as possible, and we’ve had tremendous success thus far, said Jeffrey Glass, CEO of Hometap. But the fact remains that the bulk regarding people are impression home rich and money poor’, and there’s a lot more work to be done to make home equity investments an option that’s available to everyone. We’re thrilled to have the financial support of such a diverse group of asset-backed and venture investors who can further propel Hometap towards helping millions of Americans free up liquidity from their homes without taking on more debt.

According to Hometap’s 2019 Homeownership Research, despite having a need for capital, 73 percent of U.S. homeowners don’t want to take on more debt through traditional financing options such as home equity loans or HELOCS. Hometap provides a smart new alternative to these solutions, enabling homeowners to access a percentage of their home’s current value in exchange for an agreed upon percentage of the future value of their home. By taking an investment in their home, rather than incurring additional debt, homeowners are now able to tap into their home equity without the stress of monthly payments and interest. Hometap’s unique homeowner-first approach, coupled with its simple and transparent pricing model, has allowed the company to differentiate itself and achieve significant market share within the rapidly growing home equity investment category.

One homeowner who turned to Hometap while trying to find a way to fund home renovations and pay off credit card debt is Butch F. away from Monroe, Vermont. My wife and I had to start putting home repairs, including a new roof and HVAC system, on our credit cards, said Butch. We knew we had to pay off the credit card debt and were worried that if we didn’t get another home loan, we might have to sell our house. That’s when we started searching for alternatives and found Hometap. Given our financial situation, it was a no brainer – the process was easy, we received our cash in a few weeks and were able to pay off our credit card debt, while having enough cash left over to fix our driveway and yard, which has already helped increase https://www.simplycashadvance.net/payday-loans-nc/ the value of our home.

Along with permitting property owners open brand new equity in their property to address financial need or pursue future possibilities, Hometap is even helping solve a critical advantage allotment problem throughout the U.S. Residents can use the money collected in their home to acquire most other assets in order to diversify the profile and right proportions its financial obligation. Simultaneously, the firm is providing their traders accessibility the U.S. home-based real estate market, a valuable asset group which was in past times hard to access.

We have been pleased to getting using with Hometap. Which have an incredibly clear, customer-first method, he’s delivering a very important choice to the challenges faced by the of many people, said Nugi Jakobishvili, ICONIQ’s Chief Money Administrator. Since the dealers, its uncommon to locate solutions into the mixture of a nice-looking resource reputation, a gifted government cluster, in addition to possibility to promote meaningful financial positive points to domiciles across the nation. Hometap’s strong bench of high quality, higher ethics pros has created an exceptional program that helps line up people and you may buyers. They are very better-positioned to guide the organization we’re seeing in the industry.

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