Hometap provides a loan alternative called a home equity investment, allowing homeowners to tap their home equity without monthly payments.
Hometap receives overwhelmingly positive feedback from consumers, with many praising the company's excellent communication and user-friendly process. Reviewers highlight the responsiveness and professionalism of staff members, such as Mary Kate Walton and Eric, who provide clear explanations and support throughout the transaction.
Customers appreciate the simplicity and speed of the service, often describing it as the easiest way to access funds without taking on additional loans. However, some concerns arise regarding the percentage-based investment model, with one reviewer expressing frustration over perceived hidden fees and the duration of the process with a title company. Despite this, the majority of feedback reflects a high level of satisfaction with Hometap's services. Overall, the sentiment is largely positive.
Summary generated with AI from recent reviews
Each source counts by its number of reviews. Only reviews written by people are scored.
| Source | Rating | Reviews | Weight | 6-mo | Fake risk |
|---|---|---|---|---|---|
Trustpilot Imported Trustpilot reviews | 4.7 | 25 | 100% | — | ● Medium |
Monthly average rating from reviews written by people.
Not enough history for a trend yet: 25 reviews in 1 month. The chart appears once reviews span two months.
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 25 most recent reviews.
“The process is simple and very quick”
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Loans & Mortgages.
| Company | Overall | Legit | Trend | Reviews |
|---|---|---|---|---|
 | 4.7 out of 5 (good) | 100 out of 100 | — | 25 |
| 4.3 out of 5 (good) | 100 out of 100 | +39% | 1,000 | |
| 4.8 out of 5 (good) | 100 out of 100 | — | 1,000 | |
| 4.2 out of 5 (good) | 100 out of 100 | −19% | 618 | |
| 4.7 out of 5 (good) | 100 out of 100 | — | 27 |
Bottom line: Hometap is #3 of 5 on overall rating in this group.
25 reviews of Hometap. Filter by what matters to you.
11 months ago
They advertise that they will make a percentage based investment based on the current value of your home with no interest or hidden fees. What they tell you is that you have 10 years to repay their in... See more
11 months ago
they explain what was going on well
Quick answers to the questions people ask most.
A home equity investment allows homeowners to access a portion of their home's equity in exchange for a share of the home's future value. Unlike traditional loans, there are no monthly payments required. When you sell your home or at the end of the investment term, you repay the original amount plus or minus a percentage of your home's appreciation or depreciation.
Unlike home equity loans or HELOCs, Hometap's investment requires no monthly payments and no interest charges. Instead, Hometap receives a share of your home's future value change when you sell or at the end of the term. This means your repayment amount can go up or down based on your home's value.
Eligibility typically includes having sufficient equity in your home, meeting income requirements, and having a qualifying credit profile. Your home must be your primary residence and located in a state where Hometap operates. Specific requirements may vary and are determined during the application process.
Hometap operates in select states across the United States. The available states may change over time as the company expands. You can check current availability by visiting their website or contacting them directly to confirm if your state is covered.
The amount you can access depends on factors like your home's current value, existing mortgage balance, and your financial profile. Hometap typically offers investments ranging from a minimum amount up to a percentage of your home's equity. The exact amount is determined during the underwriting process.
Hometap investments typically have terms of several years, during which you can remain in your home without making monthly payments. You can choose to settle the investment early by refinancing, selling, or paying cash. The specific term length is outlined in your investment agreement.
When you sell your home, you repay Hometap the original investment amount plus or minus their agreed-upon share of the home's value change. If your home appreciated, you'll pay more than the original amount. If it depreciated, you may pay less, subject to the terms of your agreement.
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They advertise that they will make a percentage based investment based on the current value of your home with no interest or hidden fees. What they tell you is that you have 10 years to repay their initial investment which will be equal to the exact same percentage of the current value of your home at the time you choose to settle your debt with them. They also state that if the value of your home depreciated they eat it as a reasonable part of risk and that all you owe them is the same exact percentage of your homes current value at the time you choose to settle. Then you have an initial phone consultation where they repeatedly say the same exact thing about the settlement being the exact same percentage of your homes current value at the time of settlement. Then when they think you are desperate enough and hooked on the deal. They send you a link that gives them control if your phone screen. This is when they start disclosing that the percentage they take upon settlement increases astronomically every year you haven't settled. Per the example they used with me an initial 10% percent investment would be a 13% return if I settle in 3 years. If I were to use the entire 10 year term they allow the percentage would now be well over 20% of the market value of my home at that time. They have zero explanation for the increased percentage and how it is the opposite of the terms they offered upfront and confirmed repeatedly during the initial half of the phone consultation. They specifically make sure they control your screen so you have no evidence of their attempts at extortion. This is what criminals known as loan sharks do. They go to jail for extortion and every member of this criminal organization belongs in jail with all the other extortionists. Their positive reviews are most likely fabricated by them or posted by desperate people in a bad financial situation who needed the cash so desperately they failed to see the long term costs and were made before they settled up at more than 2 times the percentage of the initial investment. And that percentage they take is based on the current and usually much higher value of your home, especially since these *investments" are only given to home owners looking to use the funds for home improvement . I caution everyone to stay aware of their longterm scheme and dont choose immediate satisfaction that hurts you in the long run. Avoid this criminal organization at all costs. I wonder how long they will let this review remain.
they explain what was going on well
My direct contact - Mary Kate Walton - was great. She was very responsive and communicated very well. My frustration lies with the title company. It took them over a month to handle the work. They would ask for a document, I would get it the same day and then we would wait a full week before getting an update. Only to find out they needed another document that took another week, etc. Online it indicates the process should be about a month. By the time my transaction is funded, it will be well over two months. Very frustrating.
This is an amazing company!!
From the quick and courteous response to my initial inquiry, to the detailed explanations. . .(ACTUAL PERSON ON THE PHONE). . . the follow-through with every detail was great. I was assigned a manager IMMEDIATELY who was careful to get me through each step, and fully understand the program and required documents. Thank you EUGENE KOPMAN!
Eric has been wonderful ad walked me through everything with hometap!! I felt really cared for theway he reached out and helped! Morepeople should be caring!!
This was an easy and smooth transaction! I would definitely recommend this company. Alex was a great person to work with. I would choose her over and over! thank you.
The whole process was user friendly. Professionalism all the way through.
Bree was great and answered all my questions clearly, showing empathy and that she and hometap care about their customers
Olivia, was very knowledgeable in the manner of professionalism she brought to me in the way that I made a decision to do business with your company. She is highly qualified, I strongly recommend her to be a great asset to your company.
Jon...that is what (who) made my experience with HomeTap exceptional. I have never had someone so responsive to my concerns or questions. I truly enjoyed our interaction! Also, the website is wonderfully laid out and easy to navigate. A Top-notch experience!
My loan officer was very experienced and knowledgable and very professional.
Greg Eddy did an excellent job to get the deal done and communicated with me to keep me updated.
I’ve worked with twice. Both times they were amazing
There may be various fees associated with the home equity investment, such as appraisal fees, closing costs, or other processing fees. The specific fees and amounts are disclosed during the application process and outlined in your investment documents.
You can start the application process online through Hometap's website or by contacting them directly. The process typically involves providing information about your home, finances, and completing required documentation. An appraisal and underwriting review are part of the approval process.
The timeline for processing applications can vary based on factors like documentation completeness, appraisal scheduling, and underwriting requirements. Hometap can provide more specific timing estimates based on your individual situation during the application process.
Yes, you typically have the option to settle your investment early through refinancing, selling your home, or paying cash. Early settlement terms and any associated conditions are outlined in your investment agreement.
You can generally use the funds from a home equity investment for various purposes such as home improvements, debt consolidation, education expenses, or other financial needs. There may be some restrictions on usage, which would be specified in your agreement.
You can contact Hometap through their website at hometap.com, where you'll find contact forms and additional contact information. They typically offer phone support and online resources to help answer questions and guide you through their process.
The application process may involve a credit check, which could temporarily impact your credit score. Since there are no monthly payments required, the ongoing investment typically doesn't affect your credit the same way a traditional loan would. However, you should discuss specific credit implications with Hometap directly.
If your home's value decreases during the investment term, you may owe less than the original investment amount when you settle, as Hometap shares in both the appreciation and depreciation of your home's value. The specific terms of how depreciation is handled are outlined in your investment agreement.
Hometap provides a loan alternative called a home equity investment, allowing homeowners to tap their home equity without monthly payments.
