Splitero vs Hometap: Which Home Equity Investment Is Better?

Splitero suits homeowners with credit as low as 500 who want up to $500,000 and live in one of its 13 states. Hometap suits homeowners who need as little as $15,000, have credit from 585, or live outside Splitero's footprint, since it operates in more states. Neither charges interest; both take a share of your home's future value.

Splitero suits homeowners with credit as low as 500 who want up to $500,000 and live in one of its 13 states. Hometap suits homeowners who need as little as $15,000, have credit from 585, or live outside Splitero’s footprint, since it operates in more states. Neither charges interest; both take a share of your home’s future value.

Disclosure: TopMoneyHub earns an affiliate commission if you apply through our Splitero links. That relationship does not change the figures below, which are each company’s own published terms, and we say plainly where Hometap comes out ahead.

How do Splitero and Hometap compare at a glance?

Both are home equity investments (HEIs), not loans. You get a lump sum in exchange for a share of your home’s future value. There is no interest, no APR, and no required monthly payment with either product. Here is how the published terms stack up.

Feature	Splitero	Hometap
Minimum credit score	500	585
Funding amount	$50,000 – $500,000	$15,000 – $600,000
Fees	~4.99% origination + closing costs	3% – 4.5% origination + closing costs
Max combined loan-to-value	~65–70% (you keep roughly 30% equity)	Not published in our data
Term	Up to 30 years	Not published in our data
Income/employment required	None	Not published in our data
Property types	Owner-occupied only: single-family, condo, townhome. No rental, investment, or manufactured homes.	Not published in our data – confirm directly with Hometap
States available	13 states: Arizona, California, Colorado, Florida, Nevada, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, Washington	More states than Splitero – exact list not published in our data, check Hometap’s site

Is Splitero or Hometap cheaper?

On the published origination fee alone, Hometap is usually the cheaper of the two: its range runs 3% to 4.5%, against Splitero’s flat ~4.99%. Both also charge closing costs on top. But the origination fee is only one piece of what an HEI costs you. The bigger driver is the share of your home’s future appreciation you give up, and that depends on the size of the investment, your home’s value, and the specific offer you’re given. Splitero publishes a maximum combined loan-to-value of roughly 65–70%, meaning you keep around 30% equity untouched; Hometap does not publish an equivalent figure in our data. Treat the fee percentage as a starting point, not the full cost comparison, and get a personalized quote from each before deciding.

Which has lower credit requirements, Splitero or Hometap?

Splitero. Its minimum credit score is 500, which is low even by HEI standards. Hometap’s minimum is 585. If your credit sits in the low 500s, Splitero is the one that will actually consider your application; Hometap likely will not. Neither company requires proof of income or employment, so credit score is the main gatekeeping factor for both.

Which offers more money, Splitero or Hometap?

Hometap has the wider range on both ends: $15,000 to $600,000, against Splitero’s $50,000 to $500,000. If you only need a small amount, say under $50,000, Splitero cannot help you at all; Hometap can. If you need more than $500,000, Hometap’s $600,000 ceiling gives you extra headroom Splitero doesn’t offer. For amounts between $50,000 and $500,000, both companies are in play and the decision comes down to credit score, fees, and where you live.

Where are Splitero and Hometap available?

Splitero operates in exactly 13 states: Arizona, California, Colorado, Florida, Nevada, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, and Washington. It is not available in Texas, where state constitutional rules restrict this type of home equity product, or in New York. Hometap operates in more states than Splitero, but we don’t have its exact state list in our data, so check current availability directly on Hometap’s site before assuming it covers your state. If you live outside Splitero’s 13 states, Hometap (or another HEI provider) is your realistic option regardless of the other terms.

Can I use Splitero or Hometap on a rental property?

Not with Splitero. It funds owner-occupied properties only, covering single-family homes, condos, and townhomes, and it excludes investment or rental properties and manufactured homes outright. Our data doesn’t specify Hometap’s property-type rules, so if you’re trying to tap equity in a rental, don’t assume either company will work; ask Hometap directly, or look at a provider built for that use case. Unlock and Nada both explicitly allow investment property in our data, so they’re worth a look if a rental is what you’re financing against.

Splitero vs Hometap: which should you choose?

Choose Splitero if

You have credit in the 500s that would rule you out elsewhere, you need $50,000 or more, your property is owner-occupied, and you live in one of its 13 states. Splitero’s lower credit floor is the clearest reason to pick it over Hometap, and it carries a 4.9 site rating on our reviews.

Choose Hometap if

You need a smaller amount (as little as $15,000), a larger ceiling (up to $600,000), your credit sits at 585 or above, or you live outside Splitero’s 13-state footprint. Hometap’s fee range also starts lower, at 3% versus Splitero’s ~4.99%, which matters if you qualify for the bottom of that range. This is the one area where we’ll say plainly that Hometap has the edge, affiliate relationship or not.

Neither company is objectively “better” across the board. Splitero wins on credit accessibility; Hometap wins on funding-amount flexibility and geographic reach. Match the comparison table above against your credit score, the amount you need, your property type, and your state, and one of the two will clearly fit and the other clearly won’t.

Frequently asked questions

What credit score do I need for Splitero or Hometap?

Splitero’s minimum is 500. Hometap’s minimum is 585. If your score is below 585, Splitero is the one of the two likely to work for you.

Does Splitero or Hometap charge interest?

No. Both are home equity investments, not loans, so neither has an APR, interest rate, or required monthly payment. Splitero has no APR at all; in exchange, both companies take a share of your home’s future value when you sell, refinance, or the term ends.

How much money can I get from Splitero versus Hometap?

Splitero funds $50,000 to $500,000. Hometap funds $15,000 to $600,000. If you need under $50,000 or over $500,000, Hometap’s range covers you where Splitero’s doesn’t.

Is Hometap available in my state?

Hometap operates in more states than Splitero, but we don’t have its full state list in our data, so confirm directly on Hometap’s site. Splitero’s coverage is fixed and known: 13 states, not including Texas or New York.

Can I use either company on a rental or investment property?

Splitero says no; it only funds owner-occupied single-family homes, condos, and townhomes. We don’t have Hometap’s property-type policy in our data, so ask Hometap directly if this applies to you. Unlock and Nada both explicitly allow investment property, per their published terms.

Is a home equity investment better than a HELOC?

It depends on whether you’d rather avoid a monthly payment or avoid giving up a share of future appreciation. A HELOC, like Aven (6.50% APR, illustrative and subject to change) or Figure (6.20% APR, illustrative and subject to change), charges interest and requires payments but you keep 100% of your equity. An HEI like Splitero or Hometap has no interest and no required payment, but the company shares in your home’s value when you settle up.

Read next

• Full Splitero review — ratings, fees, settlement terms and the complete state list
• What Splitero actually costs — worked scenarios with the arithmetic shown
• Splitero requirements — do you qualify?
• Splitero vs a HELOC — which way to tap your equity
• Splitero alternatives — if it is not available where you live
• Compare all home equity lenders

Frequently Asked Questions

What credit score do I need for Splitero or Hometap?

Splitero's minimum is 500. Hometap's minimum is 585. If your score is below 585, Splitero is the one of the two likely to work for you.

Does Splitero or Hometap charge interest?

No. Both are home equity investments, not loans, so neither has an APR, interest rate, or required monthly payment. Splitero has no APR at all; in exchange, both companies take a share of your home's future value when you sell, refinance, or the term ends.

How much money can I get from Splitero versus Hometap?

Splitero funds $50,000 to $500,000. Hometap funds $15,000 to $600,000. If you need under $50,000 or over $500,000, Hometap's range covers you where Splitero's doesn't.

Is Hometap available in my state?

Hometap operates in more states than Splitero, but we don't have its full state list in our data, so confirm directly on Hometap's site. Splitero's coverage is fixed and known: 13 states, not including Texas or New York.

Can I use either company on a rental or investment property?

Splitero says no; it only funds owner-occupied single-family homes, condos, and townhomes. We don't have Hometap's property-type policy in our data, so ask Hometap directly if this applies to you. Unlock and Nada both explicitly allow investment property, per their published terms.

Is a home equity investment better than a HELOC?

It depends on whether you'd rather avoid a monthly payment or avoid giving up a share of future appreciation. A HELOC, like Aven (6.50% APR, illustrative and subject to change) or Figure (6.20% APR, illustrative and subject to change), charges interest and requires payments but you keep 100% of your equity. An HEI like Splitero or Hometap has no interest and no required payment, but the company shares in your home's value when you settle up.