Resource commonly stamina Boston-founded company’s went on national extension
BOSTON, (World NEWSWIRE) — Hometap, that gives an intelligent, brand new mortgage alternative for experiencing home collateral in place of taking on personal debt, today announced that it has safeguarded $100 mil inside the the fresh new investment. The capital raise boasts ICONIQ Investment, LLC along with Hometap’s newest investors General Stimulant, G20, Mainstay and you will Western Friends Opportunities, the latest campaign sleeve from AmFam Insurance.
With this additional financing, Hometap plans to continue its across the country expansion, 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 Secures $100 billion to help Way more You.S. Property owners Availableness their home Equity Instead of Taking up 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 vast majority out-of people are currently feeling house steeped and cash 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 Study, 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 the value of our home.
And enabling people discover the fresh guarantee within land to address economic demands or realize upcoming opportunities, Hometap is also helping resolve a life threatening advantage allocation situation on the U.S. Homeowners can use the wide range built up in their home to invest in most other assets to help you broaden their portfolio and correct dimensions the financial obligation. Likewise, the business is offering the buyers access to the brand new U.S. domestic real estate market, a secured asset group which had been prior to now difficult to accessibility.
Our company is very happy to getting spending having Hometap. With an incredibly transparent, customer-first method, he is taking an invaluable substitute for the problems confronted by of a lot student plus loans parents people, said Nugi Jakobishvili, ICONIQ’s Chief Financing Administrator. As the people, it is uncommon to obtain options on the combination of an attractive resource character, a skilled management cluster, therefore the potential to render significant monetary advantageous assets to homes all over the country. Hometap’s deep workbench of top quality, higher integrity benefits has created an excellent system that assists line-up people and you will buyers. He is incredibly really-positioned to guide the organization we’re witnessing on the market.
Comentarios recientes