Point launches Home Equity Investments in Nevada and Ohio

Point’s product helps homeowners tap their equity without adding monthly payments; Now available in 18 states

Point Editorial Team
July 14, 2022

You might also like:
A picture of a yellow and blue box.
A picture of a yellow and blue box.

Get up to $500k from your home equity.

  • No monthly payments
  • No income requirements
Prequalify now
Share on social:

Palo Alto, Calif, Jul 14, 2022 (GLOBE NEWSWIRE) - Point, a home equity platform and fintech company, has launched its services in Nevada and Ohio. With the addition of these two new states, Point’s Home Equity Investment (HEI) is now available in 18 states and the District of Columbia. Point plans to expand to nine additional states, reaching 28 total geographies by early 2023.

Point’s HEI is a unique way for homeowners to tap into the equity built up in their homes. Point offers homeowners the option to get a lump sum of cash in exchange for a share of the home’s future appreciation. As an HEI is equity financing, it doesn’t add a monthly payment to a homeowner’s expenses. Homeowners can access up to $500,000 and have the flexibility to buy their equity back at any time within the 30-year term with no penalty.  

“Nevada homeowners are sitting on more than $150 billion in tappable home equity and Ohio homeowners have more than $330 billion*,” said Eddie Lim, CEO and co-founder of Point. “The vast majority of homeowners in both states have tappable equity and are sitting on an incredible amount of wealth in their homes. However, their equity isn’t always readily accessible to help with life’s needs or to achieve a dream. And with mortgage rates on the rise, refinancing is a less attractive way to leverage home equity.”

Traditional home financing options can often box a lot of homeowners out of their services, including one’s ability to take on additional monthly payments. With criteria like no income requirements and lower credit score minimums, Point’s HEI is available to a larger population of homeowners. To qualify, the home needs to be valued at least $155,000 and the homeowner must retain at least 20 percent of the equity after Point’s investment.  

“A Point HEI is a great option for homeowners who are ‘house rich but cash poor’,” continued Lim. “The product provides homeowners a way to use their home equity for a bit of financial freedom, no matter the underlying need.”

The addition of these two states is one more milestone in an incredible year of growth for the home equity platform. In the first half of 2022, Point’s funding volume grew by more than 5x year-over-year. Most recently, Point closed $115 million of Series C financing in May 2022, led by WestCap, with participation from other existing investors Andreessen Horowitz, Ribbit Capital, Redwood Trust, Atalaya Capital Management, and Deer Park Road Management. In 2021, Point completed the first-ever securitization backed entirely by residential Home Equity Investment (HEI) agreements and also announced more than $1B in new capital commitments from leading real estate and mortgage-backed securities (MBS) investors.

Get up to $500k from your home equity.

Prequalify in 60 seconds with no need for perfect credit.

Prequalify now
Get home equity, homeownership, and financial wellness tips delivered to your inbox.

Thank you for subscribing!

Check your email for a confirmation. We’ll be in touch soon!
Oops! Something went wrong while submitting the form.

Frequently Asked Questions

No items found.

Point in the media

Our innovative products have been featured in top publications.

Business Insider
Point CEO, Eddie Lim made Business Insider's 100 people who are transforming business
Every year, Insider surfaces 100 leaders across 10 industries who are driving unprecedented change and innovation. Lim, the CEO and cofounder of Point, wants to make it easier for people to tap into that wealth. Lim’s company, which he founded alongside Eoin Matthews in 2015, offers homeowners lump sums of cash in exchange for a stake in their home.
Read this article
Point closes on $115M to give homeowners a way to cash out on equity in their homes
Historically, homeowners could only tap into the equity of their homes by taking out a home equity loan or refinancing. But a new category of startups have emerged in recent years to give homeowners more options to cash in on their homes in exchange for a share of the future value of their homes.
Read this article