National Mortgage News Reports on Hometap’s New Funding and HEI Market Momentum

Shared-appreciation contract provider Hometap announced a new capital raise this week, which comes at the end of a year when several tailwinds helped fuel growth for equity investment products and loans.

The Boston-based home equity investment platform this week secured $50 million in new funding led by affiliates of Gallatin Point Capital. The company plans to use the proceeds to promote increased adoption of its shared-appreciation products, which are also referred to as home equity investments.

"As the cost of homeownership rises, families need practical, flexible ways to access the value in their homes," said Hometap CEO Jeffrey Glass. "This financing allows us to further invest in the tools, technology and education that help homeowners make confident financial decisions. It also reinforces our commitment to broadening home financing options."

This article originally appeared in National Mortgage News. Read the full article here.