Hometap Launches New Digital Platform to Help Americans Better Protect, Grow, and Take Control of Their Largest Asset: Their Home

Home Equity Dashboard Empowers Homeowners with Tools, Resources, and Forecasting Capabilities to Maximize Home Equity Over Time

BOSTON, May 10, 2023 /PRNewswire/ -- Hometap, a Boston-based financial technology company that has provided nearly 8,000 homeowners across the U.S. with an innovative, debt-free way to access their home equity, today announced the introduction of a new digital platform, the Home Equity Dashboard. The Home Equity Dashboard provides homeowners with a free, complete picture of their home equity in one centralized location. In addition to being able to monitor their largest financial asset — their home — and easily view their equity, users can access powerful, easy-to-use tools, plus resources to help them reach their goals. With the introduction of the Dashboard, Hometap is one step closer to becoming the go-to resource for homeowners at every stage of their homeownership journey.

According to research from Hometap, 43% of homeowners are unaware of how much equity they have — and this increases their likelihood of financial hardship and vulnerability to swings in the financial markets. In addition, only 37.8% of homeowners felt very prepared for additional homeownership costs beyond mortgage payments. These findings highlight a clear opportunity to educate homeowners on all things home equity — from how to calculate it to the factors that impact it over time — and provide them with the tools they need to better handle homeownership costs and challenges.

"Our new platform empowers homeowners to make more informed financial decisions about their home and take action on those decisions with confidence, speed, and ease," said Adam Sigel, Vice President of Product at Hometap. "Amidst higher interest rates and rising inflation, home equity remains at near-record levels, but many homeowners still struggle to understand how much home equity they have or how they can use it. With the launch of the Dashboard, we are providing Americans with a one-stop shop for managing their home equity, both now and down the road, to give them more control of their financial futures."

At launch, the Home Equity Dashboard focuses on providing homeowners with a comprehensive view of their home equity and the tools to take control of it. Hometap will continue to add new functionality to the platform over time to help homeowners understand, increase, and protect their home equity. Current features include:

• Data visualization of home value, mortgage, and home equity today, and estimates for up to 10 years
• Accurate forecasts based on multiple home appreciation scenarios, so homeowners can more confidently prepare for the future
• Maintenance checklists, broken out by season, that will help homeowners better protect and preserve their home's value
• Home renovation calculator to forecast the cost, value add, and return on investment for various home repairs and upgrades
• Exclusive home services offers and discounts from Hometap's trusted, best-in-class partner network, including Branch, SimpliSafe, and several more to come.

Hometap's current home equity investment customers will be automatically set up with their own Home Equity Dashboard as part of their existing Hometap account, where they will have access to all of the above features, and can also view their investment and gain greater visibility into how it impacts their home equity over time.

"As many of us at Hometap are homeowners ourselves, we know how challenging it can be to find trustworthy and cost-effective home service providers, whether it's for insurance, security, warranties, or contracting work," said Jonathan MacKinnon, Vice President of Product Strategy and Business Development at Hometap. "Not only do we focus on aligning ourselves with companies that save homeowners time and money and provide them with an exceptional experience, but we also ensure that they help them protect and optimize their largest asset."

Hometap will be unveiling the Home Equity Dashboard at the Fintech Nexus conference in New York City, where a demonstration of the platform will be available at Booth 405 and in the Innovation Zone at 3:05 pm on Wednesday, May 10.

The Home Equity Dashboard is now available to homeowners across the U.S. For more information and to create a free account, visit: www. hometap.com/dashboard

About Hometap:
Founded in 2017, Hometap is a Boston-based fintech company on a mission to make homeownership less stressful and more accessible. Starting with its industry-leading home equity investment product, the company has helped nearly 8,000 homeowners across the U.S. access their home equity without having to take out a loan or sell their home. Hometap continues to expand its suite of innovative financial products and services, developing a digital platform designed to help homeowners at every stage of their homeownership journey make more informed financial decisions about their home — and take action on those decisions — with confidence, speed, and ease. Learn more at hometap.com.

Media Contact: 
Matt Conroy
Stanton Public Relations & Marketing
(203) 610-1421
[email protected]

SOURCE Hometap