Point

NMLS #1610752
NMLS #1717824
Point offers home equity investment products, allowing homeowners to tap into their home's value without taking on new debt.
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Disclosure

Home Equity Investments are available through Point Digital Finance, Inc. (NMLS #1610752). Equal Housing Opportunity. Offers may vary and Investment Amount requests are subject to eligibility requirements, application review, loan amount, loan term, and lender approval. Product terms are subject to change at any time. Offers are for a Home Equity Investment (HEI) secured by a residential property owned by the applicant. HEIs are not available to residents of all states and available loan terms/fees may vary by state where offered. Amounts are between $25,000 and $600,000 and are assigned based on combined loan-to-value ratio, credit score, property value, owner-occupancy, property type, and other factors. 30-year terms available. Minimum 500 credit score. Other terms, conditions and restrictions apply. Payments are fully amortized during each period and determined on the outstanding principal balance each month and can fluctuate during the draw period. An origination fee of 3.9% to 5.0% applies with additional fees to cover credit reports, appraisals, and escrow fees. Combined loan-to-value ratio may not exceed 73%. Property insurance is required and flood insurance may be required if the subject property is located in a flood zone. You must pledge your home as collateral. Equal Housing Opportunity. Contact Point Digital Finance, Inc. for further details.

Pros
No income requirements and very flexible on credit
Easy online processes
Highly professional customer service.
Cons
Only available to homeowners
More than 2 weeks to fund
Secured by property
SnapshotOverviewCustomer ViewsSimilar Lenders

Snapshot

Year Founded
2015
Address
444 High St, Palo Alto, CA 94301
Estimated # of Employees
200-500
Composite Score
9.35
Trustpilot Reviews
4.7
(
2,744
Reviews)
BBB Reviews
A+
(
32
Reviews)
Website Link
https://www.point.com

Overview

Point Digital Finance, founded in 2014, offers a genuinely unique and innovative approach to accessing home equity, distinguishing itself significantly from traditional mortgage lenders. Unlike conventional loans that accrue monthly payments, Point specializes in Home Equity Investments (HEIs). This product allows homeowners to unlock a portion of their home's accumulated value in exchange for a pre-determined share of its future appreciation or depreciation. The core of Point's model is its alignment with the homeowner: you receive a lump sum of cash without incurring new debt or facing recurring monthly payments. There are no strict income requirements, and credit score criteria are notably more flexible (starting from 500+ FICO). Repayment occurs as a single lump sum when the homeowner eventually sells their home, refinances the property, or opts to buy back Point's share within a 30-year term. If the home's value increases, Point shares in the gain, but crucially, if it decreases, they share in the loss, potentially reducing the homeowner's repayment amount, embodying a "shared equity" model.

Customer Views

What They Like

Customers consistently highlight the ease and flexibility of Point's process, with many appreciating the ability to access significant funds from their home's equity without taking on new debt or adding to their monthly expenses. The absence of strict income requirements and the more flexible credit score criteria (500+ FICO) make it an accessible option for a broader range of homeowners. Furthermore, the unique "shared equity" model, where Point shares in potential losses if the home's value decreases, is a significant advantage, providing a degree of financial protection that traditional loans do not offer.

What They Dislike

However, the primary consideration for customers is the nature of repayment, which involves giving up a share of their home's future appreciation. While Point shares in losses, a significant increase in home value means a larger payout to Point upon repayment, potentially reducing the homeowner's overall gain. The repayment occurs as a single lump sum, often tied to a major life event like selling the home, which might require careful planning. Some homeowners may also find the concept of sharing equity in their home less straightforward or appealing than traditional debt structures.

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Score

Term Length

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9.35
 (
2,776
 Reviews)

0

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360

months

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FAQs

Are loan offers ranked or biased in any way?

Score Credit is a free service for consumers. We partner with a network of vetted lenders and may receive compensation when a user checks their rate or takes out a loan through one of our partners. This helps us keep the platform free to use and maintain a high-quality experience. Our compensation has no impact on how your loan options are presented — you’ll always see real, personalized offers based on your credit profile and financial needs.

Does Score Credit receive compensation from lenders?

Score Credit is a free service for consumers. We partner with a network of vetted lenders and may receive compensation when a user checks their rate or takes out a loan through one of our partners. This helps us keep the platform free to use and maintain a high-quality experience. Our compensation has no impact on how your loan options are presented — you’ll always see real, personalized offers based on your credit profile and financial needs.

Point

's customers are saying...

Point was great!!!! They gave me money from my home equity when no one else would. I did not qualify for refi or reverse mortgage. They were fast and the customer service was great. I recommend them, highly.
Terri C.
I think is a better alternative to refinance similar in my opinion to a reverse mortgage. your immediate cash flow is not impacted if what you are trying to do is control your cashflow by eliminating smaller loans that do impact your current cashflow.
Jose Castillo
This HEI was a perfect fit for me. Retired and on a fixed income, I found I was paying interest on home equity loans each month. I never seemed to be able to reduce those loans, which meant I was cash-poor each and every month. I was able to pay off all those loans, leaving me with some cash each month. The payoff will happen when I sell my home in the future.
Bruce M.
The Point process was a lifesaver for me. It allowed me to get completely out of a lot of debt and to make the changes I wanted to make in my house to enjoy my old age. The application process was very easy - just get in what they ask you for as timely as possible. Crystal and John were two of the nicest people you could ever hope to meet. They both got things done as fast as possible - we closed in a month. I see this, especially for elderly people who don't have a lot of equity in their home and can't do a reverse mortgage, as another good option.
Bonnie C.