Splitero Alternatives: How Its Home Equity Investment Compares to Hometap, Unlock, and Point

Home equity investments (HEIs) offer access to cash as an alternative to a home equity loan or home equity line of credit (HELOC) by trading equity today for a share of future appreciation.

Splitero provides HEI solutions to homeowners who want to tap their equity without the burden of monthly payments. On average, homeowners who use Splitero save $19,590 compared to other home equity investment options. 

Splitero offers fast prequalification up to $500,000, and the flexibility to use funds however you’d like. Is it the best HEI option? We’ll help you compare Splitero vs. other HEI companies to find the right one for your needs.

Best Overall

4.8

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Funding

$15K – $600K

Monthly Payments

None

Term Length

10 years

Min. Credit Score

550

4.8

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Best for Partial Payments

4.7

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Funding

$15K – $500K

Monthly Payments

None

Term Length

10 years

Min. Credit Score

500

4.7

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Best for Longer Terms

4.6

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Funding

$30K – $500K

Monthly Payments

None

Term Length

30 years

Min. Credit Score

500

4.6

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4.5

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Funding

$50K – $500K

Monthly Payments

None

Term Length

10 – 30 years

Min. Credit Score

500

4.5

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Splitero vs. Hometap, Unlock, and Point

Splitero vs. Hometap

Best Overall

4.8 _/5

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Why Hometap is an alternative to Splitero

Hometap allows homeowners to unlock up to $600,000 with no monthly payments and no prepayment penalty if you decide to settle early. Terms are capped at 10 years, and the minimum funding amount is $15,000.

• Eligible property types include single-family homes, condos, vacation homes, rental properties, multi-family homes, and manufactured homes.
• Hometap uses an “X-for-Y” pricing structure, which means you get X amount of cash upfront in exchange for Y amount of your home’s future value.
• You’ll need to have at least 25% equity in your home to qualify for a home equity investment with Hometap.

How they compare

Funding amount	$15,000 – $600,000	$50,000 – 500,000
Term	10 years	10 – 30 years
Qualification	Minimum 25% equity; minimum 550 credit score	Minimum 30% equity; minimum 500 credit score; no income, employment or DTI requirements; no age limit
Fees	4.5% transaction fee; appraisal fees, title charges, recording fees	4.99% origination fee; closing fees, appraisal fee, state credit report fee
Availability	16 states and the district of Columbia	13 states and the District of Columbia

State availability

State	Splitero	Hometap
Alabama	❌	❌
Alaska	❌	❌
Arizona	✅	✅
Arkansas	❌	❌
California	✅	✅
Colorado	✅	❌
Connecticut	❌	❌
Delaware	❌	❌
Florida	✅	✅
Georgia	❌	❌
Hawaii	❌	❌
Idaho	❌	❌
Illinois	❌	❌
Indiana	❌	❌
Iowa	❌	❌
Kansas	❌	❌
Kentucky	❌	❌
Louisiana	❌	❌
Maine	❌	❌
Maryland	❌	❌
Massachusetts	❌	❌
Michigan	❌	✅
Minnesota	❌	✅
Mississippi	❌	❌
Missouri	❌	❌
Montana	❌	❌
Nebraska	❌	❌
Nevada	✅	✅
New Hampshire	❌	❌
New Jersey	✅	✅
New Mexico	❌	❌
New York	❌	✅
North Carolina	❌	❌
North Dakota	❌	❌
Ohio	✅	✅
Oklahoma	❌	❌
Oregon	✅	✅
Pennsylvania	✅	✅
Rhode Island	❌	❌
South Carolina	✅	✅
South Dakota	❌	❌
Tennessee	✅	❌
Texas	❌	❌
Utah	✅	✅
Vermont	❌	❌
Virginia	✅	✅
Washington	✅	✅
West Virginia	❌	❌
Wisconsin	❌	❌
Wyoming	❌	❌
Washington, D.C.	❌	❌

Which is better?

• Choose Splitero if: You want a home equity agreement that matures with your mortgage.
• Choose Hometap if: You need a lower minimum or higher maximum funding threshold, or live in a property type that Splitero doesn’t invest in.

Splitero vs. Unlock

Best for Longer Terms

4.7 _/5

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Why Unlock is an alternative to Splitero

Unlock is available for most property types, including second homes and rental properties. Home equity contracts are available to homeowners who have not had a bankruptcy in the last five years or a late mortgage payment in the previous two years.

• A minimum home value of $175,000 is required, but Unlock is more lenient when it comes to credit score and income requirements.
• You can receive funds in a lump sum or opt to take partial payouts as needed.
• A dedicated home equity consultant can guide you through each stage of the process, from application to closing.

How they compare

Funding	$15,000 – $500,000	$50,000 – $500,000
Term	10 years	10 – 30 years
Qualification	Maximum DTI of 45%; minimum 500 credit score; minimum home value of $175,000	Minimum 30% equity; minimum 500 credit score; no income or DTI requirements; no age limit
Fees	4.9% origination fee; appraisal fee, recording fee, title fee, credit report fee	4.99% origination fee; closing fees, appraisal fee, state credit report fee
Availability	25 states and the District of Columbia	13 states and the District of Columbia

State availability

State	Splitero	Unlock
Alabama	❌	❌
Alaska	❌	❌
Arizona	✅	✅
Arkansas	❌	❌
California	✅	✅
Colorado	✅	❌
Connecticut	❌	❌
Delaware	❌	❌
Florida	✅	✅
Georgia	❌	❌
Hawaii	❌	✅
Idaho	❌	✅
Illinois	❌	❌
Indiana	❌	✅
Iowa	❌	❌
Kansas	❌	❌
Kentucky	❌	✅
Louisiana	❌	❌
Maine	❌	❌
Maryland	❌	❌
Massachusetts	❌	❌
Michigan	❌	✅
Minnesota	❌	❌
Mississippi	❌	❌
Missouri	❌	✅
Montana	❌	✅
Nebraska	❌	❌
Nevada	✅	✅
New Hampshire	❌	✅
New Jersey	✅	✅
New Mexico	❌	✅
New York	❌	❌
North Carolina	❌	✅
North Dakota	❌	❌
Ohio	✅	✅
Oklahoma	❌	❌
Oregon	✅	✅
Pennsylvania	✅	✅
Rhode Island	❌	❌
South Carolina	✅	✅
South Dakota	❌	❌
Tennessee	✅	✅
Texas	❌	❌
Utah	✅	✅
Vermont	❌	❌
Virginia	✅	✅
Washington	✅	✅
West Virginia	❌	❌
Wisconsin	❌	❌
Wyoming	❌	✅
Washington, D.C.	❌	✅

Which is better?

• Choose Splitero if: You need a term longer than 10 years.
• Choose Unlock if: You would like to be able to take partial payments versus withdrawing home equity in a lump sum.

Splitero vs. Point

Best for Partial Payments

4.6 _/5

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Why Point is an alternative to Splitero

Point offers up to $600,000, with the ability to take up to 30 years to exit and repay your agreement. Re-Point is a repayment option that allows you to take out a new HEI to pay off your existing one, while giving you cash to use as you wish.

• Point works with homeowners whose homes are worth $155,000 or more; the maximum LTV for a home equity investment is 70%.
• The company applies a home value risk adjustment of up to 29% on your home’s initial appraised value.
• If you’d rather borrow, Point offers a home equity line of credit of up to $750,000, with low interest rates and funding in as little as 5 days.

How they compare

Funding amount	$25,000 – $600,000	$50,000 – 500,000
Term	Up to 30 years	10 – 30 years
Qualification	Minimum 500 credit score; no income requirements	Minimum 30% equity; minimum 500 credit score; no income, employment, or DTI requirements; no age limit
Fees	3.9% processing fee; appraisal fee, title fees; credit report fee; financial counseling fee; recording fee	4.99% origination fee; closing fees, appraisal fee, state credit report fee
Availability	25 states and the District of Columbia	13 states and the District of Columbia

State availability

State	Splitero	Point
Alabama	❌	❌
Alaska	❌	❌
Arizona	✅	✅
Arkansas	❌	❌
California	✅	✅
Colorado	✅	✅
Connecticut	❌	✅
Delaware	❌	❌
Florida	✅	✅
Georgia	❌	✅
Hawaii	❌	✅
Idaho	❌	❌
Illinois	❌	✅
Indiana	❌	✅
Iowa	❌	❌
Kansas	❌	❌
Kentucky	❌	❌
Louisiana	❌	❌
Maine	❌	❌
Maryland	❌	✅
Massachusetts	❌	❌
Michigan	❌	✅
Minnesota	❌	✅
Mississippi	❌	❌
Missouri	❌	✅
Montana	❌	❌
Nebraska	❌	❌
Nevada	✅	✅
New Hampshire	❌	❌
New Jersey	✅	✅
New Mexico	❌	❌
New York	❌	✅
North Carolina	❌	❌
North Dakota	❌	❌
Ohio	✅	✅
Oklahoma	❌	❌
Oregon	✅	✅
Pennsylvania	✅	✅
Rhode Island	❌	❌
South Carolina	✅	✅
South Dakota	❌	❌
Tennessee	✅	✅
Texas	❌	❌
Utah	✅	✅
Vermont	❌	❌
Virginia	✅	✅
Washington	✅	✅
West Virginia	❌	❌
Wisconsin	❌	❌
Wyoming	❌	❌
Washington, D.C.	❌	✅

Which is better?

• Choose Splitero if: You want to be able to qualify with no income or employment requirements.
• Choose Point if: You would like the option to Re-Point, or use a Point HELOC to pay off your home equity agreement.

Why choose a Splitero alternative?

Splitero has helped numerous homeowners access their home equity, and positive reviews on Trustpilot cite the ease of the HEI/HEA process and level of support offered as reasons for satisfaction. That being said, you might prefer to look elsewhere for a home equity agreement if you:

• Need a higher maximum or lower minimum investment limit
• Are looking for “extras,” like the option to replace your HEI with a new one before the term ends, or apply for a home equity loan or line of credit to repay your equity agreement
• Own a property type that Splitero doesn’t invest in, such as a mobile or manufactured home
• Have less equity in your home than Splitero requires
• Live in a state that Splitero doesn’t operate in

Splitero’s strongest points are the lack of a monthly payment requirement and qualification that isn’t contingent on perfect credit or a high income. On the other hand, Splitero doesn’t offer an early payoff option like some HEI companies, and the 4.99% origination fee is on the higher side. 

How to find a Splitero alternative

If you think another home equity investment company may be a better fit than Splitero, take some to research the competition. Here are a few things to consider as you search for a company to work with:

• Funding amounts: Review the minimum and maximum limits to see how they align with your needs.
• Qualification: Check the minimum credit score, income, DTI, home equity, and home value requirements you’ll need to get approved.
• Term: Understand how long the term lasts and whether early payoff is an option. Check for any prepayment penalties should you pay your HEI off early. 
• Special features: Some HEI companies offer added benefits, like the option to get a home equity loan or renew your equity agreement. 
• Availability: HEA companies may serve a limited number of states, so look for ones that operate where you live. 

Recap of Splitero alternatives

Best Overall

4.8

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Funding

$15K – $600K

Monthly Payments

None

Term Length

10 years

Min. Credit Score

550

4.8

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Best for Partial Payments

4.7

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Funding

$15K – $500K

Monthly Payments

None

Term Length

10 years

Min. Credit Score

500

4.7

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Best for Longer Terms

4.6

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Funding

$30K – $500K

Monthly Payments

None

Term Length

30 years

Min. Credit Score

500

4.6

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4.5

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Funding

$50K – $500K

Monthly Payments

None

Term Length

10 – 30 years

Min. Credit Score

500

4.5

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