Point Home Equity is a home equity investment lender. The company was founded in 2015 by Eddie Lim and Eoin Matthews. They wanted to create a company that makes it easier for people to tap into their wealth. Since its humble beginnings, Point Home Equity has served homeowners in 25 states plus Washington, DC. It offers home equity for people with less-than-perfect credit and has more generous guidelines than most home equity loan and HELOC requirements. Borrowers also don’t have to make monthly payments throughout the term.
- No monthly payments on loan
- Borrowers can get approved with bad credit
- Offers terms up to 30 years
- Generous debt-to-income ratio requirements
- Ability to exit at any time
- Entire payment is due at the end of the term
- The more the property appreciates, the more expensive it will be to buy out Point Home Equity’s stake
- You cannot get a HELOC, home equity loan or refinance while you have a home equity investment
- Mimimum Credit Score: 500
- Loan Types: Home Equity Loans
- Point Home Equity Options
- Customer Service
- Rates and Fees
- See All 11 Items
With Point Home Equity, you can tap into your home equity without making monthly loan payments, even if you have bad credit.
Most lenders require a 620 FICO score or higher before they let you borrow capital against your home equity. However, Point Home Equity is an exception to the rule for anyone open to home equity investments.
Point’s home equity investments allow you to access home equity even with bad credit. It’s a viable alternative to home equity loans and HELOCs, which traditionally have more stringent requirements. An added bonus? You won’t have to make any monthly payments. This Point Home Equity review highlights the company’s strengths and key details before working with it.
Point Home Equity Options
Point Home Equity only offers home equity investments. This financing option doesn’t have any monthly payments. You can get up to $500,000 with Point Home Equity plus a term of up to 30 years. Point Home Equity will appraise your home, and the company will use that value to assess how much equity you can access and how large their stake is.
Customer Service
You can contact Point Home Equity via phone, email or live chat. Phone support is available on weekdays from 6 a.m. to 6 p.m. PST and weekends from 7 a.m. to 4 p.m. PST. The company also has a 4.6 rating on Trustpilot from more than 2,100 reviews. The steady stream of good reviews suggests that Point Home Equity has a good customer support team.
Rates and Fees
Point Home Equity doesn’t provide much information on rates and fees. However, the company has a useful home appreciation calculator. This calculator lets you see how much your home will appreciate over a set period of years, assuming an annualized growth rate. This calculator shows the value increase that reflects how much you’ll have to pay on top of what you borrow.
Credit Score Requirements
Point Home Equity shines with its credit score requirements. You can get financing with Point Home Equity even if you aren’t approved for a HELOC or a home equity loan. The minimum credit score for Point’s home equity investment is 500, but a higher FICO score will increase your chances of getting approved.
Who is Point Home Equity Best For
Point Home Equity offers several advantages for homeowners, but it’s not for everyone. Char Hiaring, owner and founder of Sell My House Idaho, shares which homeowners benefit the most from Point Home Equity.
"Point’s home equity investment is best for homeowners with low credit scores or unpredictable income who need cash without monthly payment,” Hiaring explains.
“However, it’s not a good option for those planning to sell soon or who don’t want to share future home appreciation,” Hiaring says. “In those cases, a traditional home equity loan or line of credit would be a better choice since they let homeowners borrow without giving up a share of their home’s future value."
But Point Home Equity benefits more than just homeowners. The lender is also advantageous for real estate investors. Adam Hamilton, the CEO and co-founder of REI Hub, explains how Point Home Equity stands out for investors.
“Point can be an option to consider for rental properties,” Hamilton explains. “You will often run into some problems with investment properties when trying to work with other home equity sharing companies, as they will typically require you to occupy the property. However, Point doesn’t require that. You don’t have to worry about occupying the property for a certain length of time each year, which can make renting very difficult.”
How to Apply for Point Home Equity Investment
Applying for a Point Home Equity Investment is straightforward. You can follow these steps to get extra capital from your home equity:
- Step 1: Enter your home address on Point Home Equity’s website
- Step 2: Enter how much you think your home is worth
- Step 3: Provide your name, email address and phone number
- Step 4: Point Home Equity will provide you with an offer
- Step 5: You will go through the application process. This step will include a home appraisal.
- Step 6: Review the terms, reach an agreement and receive your home equity.
Point Home Equity vs Unlock
Point Home Equity and Unlock are similar companies. Both provide home equity investments to borrowers with credit scores as low as 500. They also let you tap into up to $500,000 in home equity, but you must borrow at least $30,000 in home equity to work with either of them.
Point Home Equity and Unlock also have more generous income and DTI ratio requirements. You won’t have to make any monthly payments and won’t receive any interest charges. Both home equity investment providers also work with rental properties, so they are viable for real estate investors.
One key difference is the maximum term length. Point Home Equity lets you choose a term as long as 30 years. However, Unlock limits homeowners to 10-year terms. That gives you less time before you have to make the balloon payment.
The Bottom Line
You don’t have to pay a mortgage to tap into home equity. Point Home Equity lets you take out a home equity investment even if you have bad credit and a high DTI ratio. However, it can be a less-than-ideal choice if your home quickly appreciates or if you need to tap into additional home equity.
Point Home Equity is flexible and has worked with more than 10,000 homeowners. It’s a competitive financing option for homeowners and real estate investors who want to tap into extra equity without disrupting their cash flow.
Why You Should Trust Us
Benzinga has guided readers on their financial journeys for over 15 years and brings on experts who know real estate and finance intricacies.
Additionally, I am a Certified Personal Finance Counselor (CPFC) and have been a writer for Benzinga since 2021. I have also contributed to other finance publications, such as U.S. News & World Report, Business Insider and Newsweek.
FAQ
How does point home equity work?
Point Home Equity allows you to access home equity in exchange for a stake in your home. You only have to repay Point Home Equity when the term ends. The term can be as long as 30 years. It’s a great way to access home equity without monthly loan payments.
How long does it take to get money from Point?
It typically takes 2-4 weeks from submitting your application to receiving cash from Point.
Is Point home equity legit?
Point Home Equity is legitimate. The company has more than 2,100 Trustpilot reviews, most of which are positive. Furthermore, Point has worked with more than 10,000 homeowners.
Sources
- Understand, get, and improve your credit score. USA Gov. https://www.usa.gov/credit-score
- Hiaring, Char. Personal interview with the author. 24 Feb. 2025.
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About Marc Guberti
Marc Guberti is an investing writer passionate about helping people learn more about money management, investing and finance. He has more than 10 years of writing experience focused on finance and digital marketing. His work has been published in U.S. News & World Report, USA Today, InvestorPlace and other publications.