Hometap vs. Point: Which Home Equity Company is Better?

If you’re looking to tap into your home equity but want to avoid adding another monthly payment, Hometap and Point are two companies that offer home equity sharing agreements, which allow you to get a lump sum in exchange for a portion of your home’s future value. 

But which company is right for you? Let’s compare Hometap and Point side-by-side, looking at their terms, investment amounts, and customer reviews. Once you have a clear picture of which company is best for you, you can move forward with the application process with confidence.

	4.8 See Estimate	4.6 See Estimate
Investment amount	$15,000 – $600,000	$25,000 – $350,000
Investment amount	Investment amount
$15,000 – $600,000	$25,000 – $350,000
Term length	10 years	10 years
Term length	Term length
10 years	10 years
Min. credit score	500	580
Min. credit score	Min. credit score
500	580
	See the best home equity investments.

What do Hometap and Point do?

Hometap and Point offer home equity sharing agreements, an alternative to a traditional home equity loan or line of credit (HELOC). 

With these agreements, the company invests in your home, giving you a lump sum in exchange for a portion of your home’s future value. Unlike a loan, you won’t owe monthly payments or interest charges. Instead, you repay the investment when you sell your home or at the end of the 10- to 30-year term. 

You can use the money from a home equity sharing agreement for any purpose. Many people use these loans to pay off debt or fund education, home improvements, a small business, major life changes, or retirement.

The amount you repay is based on your home’s value at that time, so if your home appreciates, you’ll pay back more than you received. But if your home loses value, you may pay back less. Both companies also offer buyout options if you want to settle the agreement early.

Hometap vs. Point: Eligibility requirements

This table highlights the eligibility requirements for Hometap and Point: 

	Hometap	Point
Minimum credit score	500	500
State of residence	Available in 16 states (listed below)	Available in 24 states (listed below)
Property type	Single-family, condos, townhomes, 1-4 units, non-owner occupied	Single-family, condos, townhomes, 1-4 units, non-owner occupied
Maximum loan-to-value (LTV)	75%	80%
Minimum income	None	None

The choice between Hometap and Point may come down to where you live and the type of property you own. 

Both companies have similar eligibility requirements regarding credit scores, property types, and income. But Point stands out with a higher maximum LTV of 80% compared to Hometap’s 75%. A higher LTV means you can access more equity in your home.

If you live in a state where both companies operate, Point’s higher LTV could allow you to pull more equity out of your home. But if only one company offers its home equity investment in your state, it may come down to availability.

Point vs. Hometap: Product terms

Now that you know the eligibility requirements for Point vs. Hometap, let’s look at how each home equity agreement stacks up: 

	Hometap	Point
Investment amount	$25,000 – $600,000	$25,000 – $500,000
Term length	10 years	30 years
Fees	3.5% processing fee, third-party fees	3.9% processing fee ($1,000 minimum), third-party fees
Funding speed	As fast as 3 weeks	As fast as 4 weeks
Prepayment penalty?	☑️	✖️
Can prequalify online without hurting your credit?	✅	✅

Both Hometap and Point allow you to repay your loan at any time through a home sale,  HELOC, cash-out refinance, savings, or another source of funds. The repayment amounts for both companies are based on the current market value of your home at the time you exit the agreement.

Hometap stands out with a higher maximum investment of $600,000 compared to Point’s $500,000 limit. But Point’s term length is 30 years—three times longer than Hometap’s 10-year term. So, if you’re looking for a longer commitment, Point might be the way to go.

In terms of fees, Point charges a higher processing fee of 3.9% with a $1,000 minimum. Hometap’s processing fee is 3.5%. Both companies also require third-party fees for appraisal, escrow, and government fees. 

If you need funds fast, Hometap has a slightly faster minimum funding speed (three weeks instead of four). Both companies offer unique features, such as no prepayment penalties and the ability to prequalify online.

Hometap vs. Point: Customer reviews

Review Source	Hometap rating	Point rating
Trustpilot	4.8/5	4.5/5
Google	4.1/5	N/A
Better Business Bureau (BBB)	3.9/5	4.24/5

Both companies have generally positive customer ratings, but Hometap appears to edge out Point in overall customer satisfaction based on recent reviews.

Hometap earns a higher Trustpilot rating with over double the number of reviews. The reviews praise Hometap’s straightforward process, responsiveness, and dedicated investment managers who guided customers through every step.

Point’s reviews are still quite positive, but a few negative reviews mention a lack of communication, long processing times, and issues with appraisals or approval.

Point vs. Hometap: Which home equity company is best for you?

If…	Consider
You need a larger investment amount (up to $600,000)	Hometap
You prefer a longer term length (up to 30 years)	Point
You want to minimize fees	Hometap
You need fast funds	Hometap
You live in a state where only one company operates	The available option

You need a larger investment amount (up to $600,000)

Hometap offers a higher maximum investment amount of $600,000 compared to Point’s $500,000 limit. If you need to access a larger portion of your home equity, Hometap may be the better choice.

Winner

Hometap

You prefer a longer term length (up to 30 years)

Point’s home equity agreements have a term length of 30 years, three times longer than Hometap’s 10-year term. If you prefer a longer commitment, Point might be the better option.

Winner

Point

You want to minimize fees

Both companies charge processing fees and third-party fees, but Hometap’s processing fee is lower: 3.5% compared to Point’s 3.9% (with a $1,000 minimum). If minimizing upfront costs is a priority, Hometap may be the more affordable choice.

Winner

Hometap

You need fast funds 

Hometap offers slightly faster funding in as little as three weeks, while Point’s funding can take up to four weeks. If you need access to your home equity in a hurry, Hometap may be the better choice.

Winner

Hometap

You live in a state where only one company operates

Point is available in 24 states, while Hometap operates in 16 states. If you live in a state where only one company offers home equity agreements, your choice may be determined by availability.

Hometap and Point have similar eligibility requirements, such as a minimum credit score of 500. They also accept single-family homes, condos, townhomes, and one-to-four-unit properties (including non-owner-occupied) with no minimum income requirement. 

Also, they offer no prepayment penalties and the ability to prequalify online without affecting your credit score.

Read our full Hometap review and full Point review to compare each company in more depth.