Comments on: Point Home Equity Review: How It Works, Pros & Cons

By: R.J. Weiss

R.J. Weiss — Tue, 11 Jun 2024 17:01:29 +0000

In reply to Margee. Hi Margee, Unfortunately no local offices. All businesses is done through their headquarters in Palo Alto, CA.

By: Margee

Margee — Sun, 09 Jun 2024 21:31:56 +0000

Are there local offices to meet face to face? I would like to discuss my options with someone who will leave me feeling I can trust Point will not take my house from me. That Point is just as advertised an invesment company that will truly help me and not take advantage of me.

By: Jason

Jason — Thu, 04 Apr 2024 15:54:50 +0000

Great article! They now have a 29% cap on appraisal, which is super high.

If my appraisal is low, I have a guy who appraised my house for 1,050,000, so I would have to pay to come to add both appraisals up divided by 2. Otherwise, between the 29% and lowball appraisal, you are getting wrecked after 10-15 years.

By: R.J. Weiss

R.J. Weiss — Thu, 09 Feb 2023 12:25:00 +0000

In reply to Jimmie McCormick. Yes, but you'll have to pay off Point in the process.

By: Jimmie McCormick

Jimmie McCormick — Wed, 08 Feb 2023 23:06:39 +0000

Can I refi my house in this program with point?

By: R.J. Weiss

R.J. Weiss — Wed, 17 Aug 2022 19:56:35 +0000

In reply to Dave. Hey Dave, Thanks for the comment. I got an update from Point. They mentioned it takes about 90 days from the initial application to funding. They're seeing some high growth with the increase in housing prices.

By: Dave

Dave — Tue, 16 Aug 2022 21:38:46 +0000

Please keep in mind it takes a point a long time to send you your money. Even when all the paper work is done, they will delay your closing for months to budget out their customers payouts. Expect to wait a minimum of 3-4 months to get your money.

By: R.J. Weiss

R.J. Weiss — Tue, 26 Jul 2022 20:55:21 +0000

In reply to MP.

Interesting. According to their FAQ, “Point is not added to the title of the property. You will retain sole ownership of your home with Point as an investor. Similar to a mortgage, Point’s investment is secured by a Security Instrument. In other words, we would become a lienholder on the property.”

Can you confirm that’s what you’re seeing?

By: MP

MP — Sat, 23 Jul 2022 05:50:42 +0000

In reply to R.J. Weiss. The answer is “Yes” they are added to the title. My application is currently in underwriting and that’s one reason why I’m hesitant to move forward.

By: R.J. Weiss

R.J. Weiss — Mon, 11 Jul 2022 20:47:15 +0000

In reply to Maggie.

Hi Maggie,

You can pay off Point at any time during the agreement. An appraisal is then done at the time of payoff.

There’s no option to pay off in monthly payments to Point. You could however consider getting a home equity line to payoff Point and making monthly payments on that.