Hometap vs Splitero: Which Home Equity Investment Option Is Better for You?
Last updated 07/29/2025 by
Ante MazalinEdited by
Andrew LathamSummary:
If you’re a homeowner looking for a way to tap into your home equity without taking on a loan, you may be considering a home equity investment. Two of the top players in this space are Hometap and Splitero. Both offer shared equity agreements that allow you to access cash in exchange for a share of your home’s future value. But how do they compare?
In this guide, we’ll break down the key differences between Hometap and Splitero to help you decide which option is better for your financial situation.
Quick Comparison: Hometap vs. Splitero
| Feature | Hometap | Splitero |
|---|---|---|
| Maximum Funding | Up to $600,000 | $50,000 - $500,000 |
| Maximum Funding (%) | Up to 25% | Up to 25% |
| Term Length | 10 years | Up to 30 years |
| Origination Fees | 4.5% | 4.99% |
| Closing Costs (%) | 1% - 5% | N/A |
| Monthly Payments | None | None |
| Maximum LTV | 75% | 65% |
| Home Value | Starting at $50,000 | $200,000 - $5,000,000 |
| Credit Requirements | 585 | 500 |
| Use Case | Equity Cash-Out | Equity Cash-Out |
| Share of Home Appreciation | N/A | |
| States Available | 15+ states | 13 states |
| SuperMoney Rating | strongly recommended | mostly recommended |
Hometap Overview
Hometap is a home equity investment company that allows homeowners to receive a lump sum of cash in exchange for a share of their home’s future appreciation. It typically targets homeowners with strong credit and significant equity. Founded in 2017, Hometap operates in more than 15 states.
How it works
Hometap offers investments typically ranging from Up to $600,000. Homeowners don’t make monthly payments; instead, Hometap is repaid when you sell your home or settle the agreement, usually within 10 years.
Splitero Overview
Splitero, founded in 2021, also provides home equity investments but is designed to be more accessible, including to homeowners with lower credit scores. Splitero focuses on providing quick funding and a streamlined approval process.
How it works
Splitero also offers no-monthly-payment agreements, with a maximum investment of up to $50,000 - $500,000. You repay Splitero when you sell your home or after a Up to 30-year term—whichever comes first.
Hometap vs. Splitero: Eligibility requirements
Not every homeowner will qualify for a home equity investment. Here’s how Hometap and Splitero compare in terms of credit score, equity requirements, and the types of properties they accept.
| Requirement | Hometap | Splitero |
|---|---|---|
| Credit Score | 585 | 500 |
| Maximum LTV | 75% | 65% |
| Property Type | Primary residence | Primary, secondary, or investment |
| Location | Available in 17 states | Available in 13 states |
Fees and Terms
Beyond eligibility, it’s important to consider the terms and costs of each offer. Below is a side-by-side look at investment amounts, repayment terms, and associated fees for Hometap and Splitero.
| Criteria | Hometap | Splitero |
|---|---|---|
| Investment Range | Up to $600,000 | $50,000 - $500,000 |
| Term Length | 10 years | Up to 30 years |
| Repayment | Upon sale or end of term | Upon sale or end of term |
| Origination Fees | 4.5% | 4.99% |
| Closing Costs (%) | 1% - 5% | N/A |
| Monthly Payments | None | None |
Which One Is Right for You?
Deciding between Hometap and Splitero depends on your financial situation, credit profile, and homeownership goals. Here’s a breakdown of who each provider is best suited for:
Hometap is best for:
- Homeowners with good to excellent credit (585)
- Those who live in one of the 17 states where Hometap operates
- People who prefer a shorter 10-year term
- Those seeking a well-established provider with transparent processes
Choose Hometap if you want a trusted option with straightforward eligibility criteria and a solid reputation, and if you’re comfortable with settling the agreement within 10 years.
Splitero is best for:
- Homeowners with fair or no credit who may not qualify for traditional home equity products (minimum 500 FICO)
- People who need funding quickly and with minimal paperwork
- Those who prefer a longer Up to 30-year term for flexibility
- Individuals who own investment or secondary properties in eligible states like California, Florida, and Utah
Choose Splitero if you’re looking for a flexible, accessible option that doesn’t rely on credit score and offers more time before repayment is due.
What Users Are Saying
Real user feedback can provide a valuable perspective when comparing home equity investment options. Here’s what SuperMoney reviewers have to say about Hometap and Splitero:
Hometap holds a strongly recommended user rating on SuperMoney. One reviewer wrote:
“The process was easy and transparent. I got the funds I needed without adding another monthly bill. Highly recommend!”
Read more reviews and see the full SuperMoney score here: Hometap Reviews
Splitero also receives high marks — mostly recommended, particularly for speed and flexibility:
“I was surprised how quickly I got the money. It was exactly what I needed during a tough time.”
Check out Splitero’s full score and customer experiences: Splitero Reviews
Next Steps
Still unsure which home equity sharing option is best for you? Explore additional tools and comparisons to help guide your decision:
- Visit our main Home Equity Investment guide for a comprehensive overview.
- Compare more providers:
🏠 Hometap
Hometap provides short-term home equity investments with no monthly payments and a straightforward 10-year repayment term. It’s ideal for homeowners with solid credit and clear financial plans for the next decade.
🔓 Splitero
Splitero offers longer-term flexibility with a 30-year option and fewer credit restrictions, making it a strong choice for homeowners who want quick access to funds without traditional loan requirements.
These comparisons break down the differences in eligibility, fees, customer experience, and more—so you can confidently choose the best fit for your goals.
Key Takeaways
- Hometap typically requires a minimum credit score of 585, while Splitero accepts scores as low as 500.
- Splitero offers a longer Up to 30-year term, compared to Hometap’s 10-year term.
- Hometap is available in more states, but Splitero accepts a wider range of property types including investment and secondary homes.
- Neither company requires monthly payments, and both are repaid upon sale or at the end of the term.
- SuperMoney users praise Hometap for transparency and Splitero for fast funding and accessibility.
FAQ
How do Hometap and Splitero differ in terms of repayment?
Both Hometap and Splitero are repaid when you sell your home or at the end of the contract term. Hometap has a shorter 10-year term, making it better suited for short- to mid-term plans. Splitero offers a longer Up to 30-year term, giving you more time before repayment is due.
Can I qualify for Splitero or Hometap with low credit?
Yes—Splitero is more accessible to homeowners with lower credit scores. It accepts FICO scores starting at 500, while Hometap typically looks for credit scores around 585 or higher. Neither provider requires monthly payments or traditional loan underwriting.
Do these programs work for investment or second homes?
Hometap focuses on primary residences only. Splitero, on the other hand, may support secondary or investment properties in eligible states—making it more flexible for real estate investors or landlords looking to tap into home equity without taking on new debt.
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