Point doesn't have any income requirements for its HEI product. You can also decide to exit the partnership before the full term and buy back the equity depending on the value of your home at the time. In other words, Point will either receive a portion of the sale of your home or be entitled to a repayment from you. When you receive your lump sum from Point, you'll sign into an agreement that Point is entitled to a portion of your home's equity at the end of the 30 years or when you choose to sell your home, whichever comes first. As a result, you don’t have to make any repayments for the entirety of your 30-year agreement with Point, which means you won't need to worry about additional expenses on top of your mortgage payments during that time. With an HEI, you get cash in exchange for giving up a portion of your home's equity, or the difference between your home's current value and the mortgage balance. With a traditional home equity loan, you borrow against your home's equity and make monthly loan repayments to pay off the debt. You surrender a portion of the equity of your homeĪ Point home equity investment (HEI) is different from a traditional home equity loan or home equity line of credit (HELOC).

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