For homeowners looking to tap into their home equity without taking out a traditional loan or reverse mortgage, a newer set of financial tools has emerged over the past decade. These alternatives are known as home equity investments (HEIs), and five companies currently stand out in this space: HomeTap, Point, Unison, Unlock, and Splitero. Each of these companies offers homeowners upfront cash in exchange for a share of their home’s future appreciation, with no monthly payments. But while the core concept is similar, their terms, eligibility requirements, and long-term costs can vary significantly. In this article, I’ll break down what each of these companies does, how they differ, and who might benefit most from each one. Ultimately, we’ll examine which HEI may leave homeowners with the most money in their pocket when it’s all said and done.

HomeTap

What They Do: HomeTap offers home equity investments to homeowners who want to access cash without taking on debt. They provide a lump sum payment in exchange for a percentage of your home’s future value when you sell, refinance, or reach the end of the agreement term (typically 10 years).

Key Terms:

• Investment range: $30,000 to $600,000
• Maximum investment: Up to 30% of your home’s current appraised value
• Term: 10 years
• No monthly payments or interest

Pros:

• Simple application process
• No income requirements or monthly obligations
• Fairly transparent pricing

Cons:

• Available only in a limited number of states
• Costs can be high if home appreciates significantly

Cost to Homeowners: HomeTap typically takes a larger cut of appreciation than some competitors, making it potentially more expensive if your home value rises steeply.

Point

What They Do: Point offers cash in exchange for a share of the future appreciation of your home, with terms that last up to 30 years. Unlike HomeTap, they allow early buyouts, though penalties may apply.

Key Terms:

• Investment range: $25,000 to $500,000
• Max investment: Up to 30% of home’s value
• Term: Up to 30 years
• Must repay within term or upon sale/refinance

Pros:

• Longest term available (30 years)
• Transparent cost estimator on their website
• More flexible buyout options

Cons:

• Origination and appraisal fees
• Requires a minimum credit score

Cost to Homeowners: Point is often cheaper over the long term if the home appreciates modestly, but costs can escalate in rapidly growing markets.

Unison

What They Do: Unison offers homeowners cash in exchange for a share of future appreciation. They work with a broad range of clients and emphasize partnerships with institutional investors.

Key Terms:

• Investment: Up to 17.5% of your home’s value
• Term: 30 years
• Must be repaid upon sale, refinance, or end of term

Pros:

• 30-year term
• No interest, monthly payments, or fees
• Large, established company

Cons:

• Minimum home equity required
• They share in depreciation too, but this rarely balances out appreciation

Cost to Homeowners: Unison’s terms are often more favorable than HomeTap and sometimes Point, especially if the home doesn’t see significant appreciation.

Unlock

What They Do: Unlock provides homeowners with a lump sum in exchange for a share of future home value. They are one of the newer entrants but offer competitive terms.

Key Terms:

• Investment range: $30,000 to $500,000
• Max investment: Up to 25% of home value
• Term: 10 years

Pros:

• No monthly payments
• Offers partial appreciation share option
• Transparent quote process

Cons:

• Limited availability
• Shorter term (10 years) compared to others

Cost to Homeowners: Unlock tends to be cost-effective if you plan to repay within a short timeframe. Over a longer term, the 10-year requirement may force repayment sooner than ideal.

Splitero

What They Do: Splitero is focused on providing fast cash for homeowners in exchange for future appreciation rights. They target homeowners in high-appreciation areas like California.

Key Terms:

• Investment: Varies by property
• Max investment: Up to 40% of home value
• Term: Typically 30 years

Pros:

• Higher investment amounts possible
• Quick funding
• Competitive in high-value markets

Cons:

• Newer company, less track record
• Limited to select states

Cost to Homeowners: Splitero can be advantageous if you need more cash upfront, but may take a larger chunk of future appreciation to compensate.

EquiFi

What They Do: EquiFi offers a home equity co-investment that allows homeowners to access cash without taking on a loan, making monthly payments, or paying interest. Unlike traditional financing, you retain full ownership and control of your home, while EquiFi receives a share of its future value. Their main offering, the EquiFi Funding Instrument (EFI™), provides flexible terms with no fixed repayment deadline—the agreement is settled when you sell your home or choose to buy out their investment.

Key Terms:

• No Monthly Payments / No Interest You’re not taking on debt—no monthly installments or interest accrual 
• Equity Share You exchange a portion of your home’s future appreciation (or value) for upfront cash. Returns are tied to your home’s future sale value  
• No Fixed Term EFI™ has no set term—no 10-, 20-, or 30-year lock. Deal wraps up upon sale or if you opt to buy them out
• Transaction Fees Expect at least a 3% transaction fee, plus costs for appraisal, title, escrow, etc. 

Pros:

• No Debt, No Payments: A lifeline for homeowners needing cash but who can’t/won’t take on monthly loan payments  .
• Flexible Timeline: With no minimum term, you call the timing—sell or buy out when convenient.
• Co-Invest, Not Lend: EquiFi shares in gains (and potential downswings), aligning incentives with homeowner outcomes.
• Accessible: Easier credit/income requirements than traditional HELOCs; no fixed LTV ceiling publicly disclosed  

Cons:

• Reduces Sale Profits: Giving up future appreciation means a bigger payout to EquiFi when you sell.
• Opaque Pricing: Without clear LTV caps, multipliers, or risk adjustments up front, it’s hard to compare deals.
• High Costs: Combined fee load (3% fees + appraisal/title/escrow) can significantly reduce net proceeds.
• Limits on Refinancing/Sale Timing: Equity agreements can make refi or sale more complex and costly.
• Balloon Settlement Risk: You’ll need a lump‑sum payoff when selling or buying out—this can be hard without refinancing or sale 

Cost to Homeowners: Homeowners using EquiFi can expect several costs. There’s typically a transaction fee of around 3% of the equity amount accessed, which covers underwriting and origination. In addition, standard third-party costs like appraisal, title, and escrow fees apply. The biggest long-term cost comes at settlement—when you sell your home or buy out EquiFi, you’ll owe them a share of your home’s value, which can be up to twice the amount you initially received, depending on how much your home appreciates. This structure means you may end up giving up a significant portion of future gains in exchange for upfront cash today.

Comparing the Costs: Who Comes Out Ahead?

The real cost of these HEI products depends on how much your home appreciates and how soon you sell or refinance. Here’s a general ranking from most cost-effective to least (based on average scenarios and industry analysis):

1. EquiFi: Charges ~3% in transaction fees plus third-party closing costs. Their equity share payout can be up to 2x the amount advanced, depending on home appreciation and their risk-adjusted pricing model. No set term, but buyout or sale triggers repayment.
2. Hometap: Offers 10–30 year terms. Fees average 3–5%, and homeowners typically repay the original investment plus 10–20% of the home’s future value appreciation. Early settlement is allowed with a minimum holding period.
3. Unison: Offers 30-year agreements. Fees include a 3.9% transaction charge, and they may take 20–70% of the appreciation, depending on your initial funding. Minimum home value often $300K+, with some restrictions on improvements.
4. Point: Takes 15–25% of future appreciation and may discount your home’s starting value. You can access up to 25% of your equity. Typical term is 30 years, and fees hover around 3–5% plus third-party costs.
5. Unlock: Provides 10-year agreements with access to up to $500K or 45% of home value. Homeowners owe a share of appreciation plus the original amount. Lower minimum home value requirement than some competitors; fees are usually around 3–5%.
6. Splitero: Offers quick access to cash with flexible repayment (typically when you sell or refinance). Takes a fixed percentage of future home value, and payouts are capped in some cases. Fees are competitive, but home must meet certain equity thresholds.

But Which One Is Best?

The honest answer is: the best shared-equity provider depends on your priorities. Here’s how to break it down based on common homeowner goals:

Best for Maximum Cash Now with Minimal Hassle

Splitero tends to offer the highest upfront payout and quick funding, often ideal for people who want speed and flexibility. But you may give up a bigger share of your home’s future value.

Best for Long-Term Flexibility

EquiFi stands out here — there’s no fixed repayment term, so you can hold the investment as long as you want, and only settle when you sell or choose to buy them out. Just be cautious of their equity share multiplier, which can increase your long-term cost.

Best for Lowest Long-Term Cost (if home appreciates a lot)

Hometap and Unlock often offer lower equity shares compared to Point or Unison, especially if your home value is expected to rise substantially. Hometap is also transparent and flexible with 10-year terms.

Best if You Want a Predictable Share of Home Value

Unison provides clear formulas for how much of your appreciation they’ll take, and they offer a long 30-year term. However, they tend to take more of your upside, especially in high-growth areas.

Best for Early Buyout Options

Point gives flexibility to buy out early, often with clearer penalty-free paths than some competitors. But their terms are more complex, and they may value your home conservatively up front (which increases your effective cost).

Summary: Who Wins in What Scenario?

Goal	Best Option
Maximize upfront cash	Splitero
Long-term flexibility	EquiFi
Lower cost if appreciation is high	Hometap / Unlock
Clear terms on equity sharing	Unison
Easy early buyout	Point

If you share your home’s estimated value, equity, and how long you plan to stay, I can help you model which provider would cost you the least or give you the best deal. Want to do that?

Final Thoughts

If you’re a homeowner exploring ways to unlock equity without taking on more debt, these HEI companies offer some compelling alternatives. But it’s crucial to read the fine print. While upfront cash with no monthly payments may sound ideal, the long-term costs can vary widely based on appreciation rates, length of ownership, and specific terms of the agreement.

Start by getting quotes from at least two or three companies. Many provide instant estimates online, and comparing those offers side-by-side is key to making a smart financial decision. And remember: the “cheapest” option isn’t always the best one. The right choice is the one that fits your financial goals, timeline, and risk tolerance.

Always speak with a trusted financial advisor or real estate professional before making any decisions—especially one familiar with your local market. These agreements can be a useful tool when used wisely, but like any financial product, they work best when fully understood.