Kingsbridge Wealth Management commits $100M to home equity contracts
Kingsbridge Wealth Management is offering a program that allows home owners to unlock their home equity wealth without taking on new debt.
The investment advisor announced that it has committed $100 million to the first financial technology platform – powered by Point.
From its launch in mid-2015, Point has built a portfolio of home equity investments since its launch in mid-2015. Since then the company has expanded its footprint into 13 states and the District of Columbia.
“Kingsbridge is excited to be a capital partner with Point in providing innovative non-debt financing solutions for homeowners,” said David J. Dunn, Chief Investment Officer of Kingsbridge. “Homeowners with substantial home equity now have access to liquidity, without the burdens that come with debt financing.”
Kingsbridge calls them Home Equity Contracts that are a non-debt financing solution for U.S. home owners with substantial equity in their home.
“We are finding that many home equity rich households are looking for access to cash, without the stress and burdens of additional personal debt and debt service,” said Dunn.
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This newest round of investment will support a considerable expansion, making its products available in over 30 states by the end of 2020, and reaching more than 70 percent of U.S. homeowners.
The company expects to fund in excess of 1,000 homeowners in 2019.