Unison Competitors: Comparing the Best Alternatives for Accessing Home Equity

Unison is a home equity agreement (HEA) company offering a lump-sum payment in exchange for a share of your home’s future appreciation. With its 30-year term and no monthly payments, it’s a strong option for homeowners seeking long-term flexibility.

However, competitors like Hometap and Unlock may better suit specific needs. Hometap excels with its low credit score requirements and smaller investment options, while Unlock offers flexible buyouts and a shorter term. For traditional financing, Figure and Spring EQ provide home equity loans and HELOCs with competitive rates. Below, we compare Unison to these alternatives to help you decide.

How does Unison work?

Through its HEA, Unison provides homeowners with a lump sum by leveraging their home’s equity. During the application process, Unison evaluates your eligibility based on the equity in your property. If approved, you’ll have up to 30 years to repay Unison’s share, either by selling your home, refinancing, or paying it back directly.

Read more about how Unison works in our complete review.

Unison competitors

While Unison’s home equity agreement (HEA) can be a useful way to access cash without monthly payments, its 30-year term length, higher credit score requirement, and limitations on funding amounts may not align with every homeowner’s preferences.

If you’re looking for more flexible terms, lower credit requirements, or smaller or larger funding options, competitors like Hometap and Unlock may be a better fit. Here’s a closer look at those two direct competitors.

	Unison	Hometap	Unlock
Our rating	3.8/5	4.8/5	4.5/5
Credit score	620+	500+	550+
States available	29	16	13
Min. amount	$30K	$15K	$30K
Max. amount	$500K	$600K	$500K
Term (yrs.)	30	10	10

Unison vs. Hometap

Best HEA

3.8 _/5

Free Quote

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What makes it a good alternative to Unison?

Hometap has several differences in the structure of its agreement that make it a worthwhile alternative to Unison.

It offers a shorter investment term of 10 years compared to Unison’s 30-year term, which could be better for homeowners with short-term financing needs. It also has a wider investment range, making it an excellent choice for those who need less than Unison’s $30,000 minimum investment or more than its $500,000 maximum investment.

Unison has one of the highest minimum credit score requirements of the companies offering this product, while Hometap has the lowest requirement. This could make it more accessible to homeowners with lower credit scores.

• Investments from $15,000 to $600,000
• Highest customer reviews of all of Unison’s competitors
• No out-of-pocket costs

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Unison vs. Unlock

Best for Partial Payments

4.5 _/5

Free Quote

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What makes it a good alternative to Unison?

Unlock is an alternative to Unison, comprising a team of former Unison employees.

The biggest difference between the two companies is how the buyout process works. First, Unlock has a 10-year term length compared to Unison’s 30-year term. Second, Unlock allows homeowners to make partial buyout payments throughout the term, which can be more manageable than Unison’s required lump sum payment.

Unlock is also better for homeowners with poor credit, as its minimum credit score is 550 compared to Unison’s 620.

• Investments from $30,000 to $500,000
• Only company allowing partial buy out payments
• Doesn’t share in the value added from home improvements

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Unison alternatives

If you’re looking for an alternative to equity investments, you can consider more traditional home equity solutions like home equity loans or lines of credit. Unlike home equity agreements (HEAs), these options involve monthly payments and allow you to retain full ownership of your home’s appreciation.

Here’s a look at some Unison alternatives.

	Unison	Figure	Spring EQ
Product	Investment	HELOC	Loan
Credit score	620+	640+	620+
States available	28	43	50
Min. funding	$30K	$15K	Not listed
Max. funding	$500K	$400K	$500K
Term (yrs.)	30	5 – 30	5 – 30

Unison vs. Figure

Best HELOC

4.9 _/5

View Rates

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What makes it a good alternative to Unison?

Figure is an online lender based in North Carolina that offers HELOCs. It’s a great alternative for those who don’t want to lose out on the potential appreciation of their home.

The company is much more widely available than Unison and allows for second homes and investment properties to take out a line of credit. All of its HELOCs come with a fixed rate for the duration of the term.

• Rates between 3.99% and 11.66% APR
• Funding between $20,000 and $400,000
• The initial draw will be repaid at a fixed rate

The advertised rate includes .75% discount for opting into a Quorum membership and enrolling in autopay. Terms and conditions apply. Visit Figure.com for further details. Figure Lending LLC is an equal opportunity lender. NMLS #1717824

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Unison vs. Spring EQ

Best for Accessing 90% of Your Equity

4.1 _/5

View Rates

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What makes it a good alternative to Unison?

Spring EQ is a mortgage lender based in Philadelphia that offers HELOCs, home equity loans, cash-out refinances, and purchase loans.

Spring EQ lets homeowners access up to 90% (capped at $500,000) of their home’s equity, which is the highest of all the companies we reviewed. The company is available nationwide while Unison is only available in a little more than half of U.S. states.

• Rates starting at 5.205% APR
• Funding between $25,000 and $500,000
• Term lengths between five and 30 years

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Which Unison competitor or alternative should you use?

The best option for accessing your home equity depends on your financial situation, goals, and preferences. Here are key factors to consider when deciding between Unison and its competitors or alternatives:

• Your credit score: If you have poor credit, Hometap (500+ credit score) or Unlock (550+ credit score) may be more accessible than Unison (620+ credit score). For traditional solutions like home equity loans or HELOCs, companies like Figure typically require a minimum score of 640.
• Your cash needs: If you need a smaller amount of cash, Hometap’s $15,000 minimum investment may work better than Unison’s $30,000 minimum. For larger needs, both Hometap and Spring EQ offer funding up to $600,000, exceeding Unison’s $500,000 cap.
• Flexibility with repayments: Unison’s 30-year term allows long-term flexibility but may feel restrictive if you want to exit earlier. Unlock offers a shorter 10-year term and allows partial buyouts, while Hometap’s 10-year term may suit those with shorter-term financial goals.
• Retention of equity: If you prefer to retain full ownership of your home’s appreciation, traditional options like Figure’s HELOCs or Spring EQ’s home equity loans may be better. However, these require monthly payments and interest.
• Your repayment comfort level: Home equity agreements like those from Unison, Hometap, or Unlock involve no monthly payments, making them appealing if you want to avoid ongoing financial obligations. Conversely, HELOCs and home equity loans require regular payments, which could be challenging if your budget is tight.

By assessing these factors, you can determine whether a home equity agreement or a traditional solution is the best fit for your needs.

Recap of Unison competitors and alternatives