Is Hoper Legit? What to Know Before You Enroll

If someone told you that you could earn up to $13,000 while buying a home, it makes sense to be skeptical. It’s your home and a lot of money is at stake. This article explains what Hoper is, who runs it, what it costs, and how you can verify all of it yourself.

Who’s behind Hoper

Hoper stands for Home Ownership Promotion, Education, and Research. It’s a division of Attainable Housing Advocates, a social innovation company that develops programs to help homeowners succeed over the long term.

That long-term focus shapes the whole program. The first few years of owning a home carry the most risk. Many buyers spend most of their savings to get in, and then a car repair or a gap between jobs becomes a crisis. The Hoper program is designed to reduce that risk in three ways: income you earn and keep, financial education before and after closing, and lower energy costs from a solar system you own.

Hoper is not a lender, and it is not a down payment assistance program. People mix those up often, so here’s how Hoper compares to down payment assistance.

How the money works

Eligible participants earn up to 3.5% of the purchase price, capped at $13,000. The money comes from taking part in Hoper’s homeownership research: you complete a financial education course before closing, include a fully owned solar system in your mortgage, and work with a financial mentor after closing.

The earnings are reported as 1099 income. That means they’re taxable, so it’s worth asking a tax professional how they affect you. The money can go toward closing costs or cash reserves, as your lender’s guidelines allow. It isn’t a loan, and you don’t pay it back. You’ll see your numbers before you commit to anything. The Hoper Value Calculator estimates what you could earn based on your purchase price and state. For the full step-by-step process, see how the Hoper program works.

The track record

Hoper has been operating since February 2023. In that time, more than 2,300 families have bought or refinanced a home through the program, and more than 100 different lenders have closed their loans.

The number of lenders matters. Be careful with any program that only works through one lender it chose. Hoper participants use banks and mortgage companies across the country

that have no stake in the program, and each loan goes through that lender’s normal underwriting. Hoper also holds a 4.9-star rating across more than 200 Google reviews. You can read what participants say and see the people who run the company on the Hoper team page.

What it costs

There are two fees, and both are listed on the program page before you enroll:

• $149 for the pre-closing education course (4 to 6 hours, self-paced)

• $99 for post-closing financial mentorship (8 hours)

Those two fees are the full cost. Hoper doesn’t place a second lien on your home, and taking part doesn’t change your interest rate or loan terms.

See what you could earn

Enter your purchase price and state to get an estimate of your Hoper earnings.

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How to check for yourself

You don’t have to rely on this article. Here’s how to verify Hoper on your own:

• Ask your loan officer. They can explain how the earnings and the solar system work with your loan.

• Read the fine print. The Terms & Conditions and FAQ cover fees, eligibility, and how the 1099 income is handled.

• Read the reviews. Look for ones that describe what happened at closing.

• Call the team. You can reach Hoper at (855) 647-4300.

This article is on hoper.org, the official Hoper website. Other websites use the Hoper name, so before you share personal information, make sure you’re on hoper.org or talking with the Hoper team directly.

The bottom line

Hoper is run by a named team at Attainable Housing Advocates and has been operating since February 2023. Its fees are published, the earnings are reported as taxable income, and independent lenders close the loans.

Hoper isn’t the right fit for every home. For example, the home needs its own roof for the solar system, so most condos don’t qualify. [Who qualifies for Hoper] covers the full requirements.

See what you could earn

Enter your purchase price and state to get an estimate of your Hoper earnings.

Is Hoper legit?

Yes. Hoper is a division of Attainable Housing Advocates and has been operating since February 2023. More than 2,300 families have bought or refinanced a home through the program, with loans closed by more than 100 different lenders.

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What does Hoper stand for?

Hoper stands for Home Ownership Promotion, Education, and Research.

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Is Hoper a loan?

No. Hoper isn’t a lender and doesn’t place a second lien on your home. You get your mortgage through your own lender. Eligible participants earn up to $13,000 as 1099 income by taking part in Hoper’s homeownership research.

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Do I have to pay the money back?

‍No. The earnings are income, not a loan, so there’s nothing to repay. Because the income is reported on a 1099, it’s taxable, and a tax professional can tell you how it affects your return.

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