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Home Equity Home Equity Investments

Hometap vs. Unison: Which Wins Out in Our Comparison?

Hometap and Unison each offer home equity agreements that allow homeowners to exchange a portion of their home’s equity for a lump-sum payment. These agreements benefit those who need cash but can’t afford monthly payments or meet traditional eligibility requirements.

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Funding limits $15,000 – $600,000 $30,000 – $500,000
Funding limits Funding limits
$15,000 – $600,000 $30,000 – $500,000
Term length 10 years 30 years
Term length Term length
10 years 30 years
Min. credit score 500 620
Min. credit score Min. credit score
500 620
State availability 16 states 27 states + D.C.
State availability State availability
16 states 27 states + D.C.

Is eligibility easier with Hometap or Unison?

Before diving deep into the terms, you should ensure you’re eligible for both Unison and Hometap. Each company has different requirements for qualifying, and each is only available in a limited number of states.

Here are the states in which each company is available:

  • Unison: AZ, CA, CO, DE, FL, IL, IN, KS, KY, MA, MI, MN, MO, NE, NV, NJ, NM, NY, NC, OH, OR, PA, RI, SC, TN, UT, VA, WA, WI, and DC
  • Hometap: AZ, CA, FL, MI, MN, NJ, NY, NV, NC, SC, OH, OR, PA, VA, UT, and WA

If only one company is available in your state, you know your best choice. If both are available, you can check to see if you meet the financial and home requirements.

Both Hometap and Unison let homeowners prequalify with a soft credit check. Click either company’s “Free estimate” link to see if you’re eligible for an offer.

Credit score500+620+
Max. LTV75%70%
Type of homeSingle-family, condo/apartment, multi-family (1 – 4 units), manufactured homeSingle-family homes, townhouses, condos
Free estimateFree estimate

To summarize, Unison is more widely available across the U.S., which makes it the only option for many homeowners. However, if you reside in a state where both are available, Hometap’s requirements are more lenient, thanks to the lower minimum credit score and higher maximum LTV.

Does Hometap or Unison have better customer reviews?

Customer reviews are a great way to understand how well a company delivers on its promises and supports homeowners. We sifted through both Hometap and Unison’s reviews on three popular review platforms: Trustpilot, Google, and the Better Business Bureau (BBB).


Ratings are accurate as of May 17, 2024.

Hometap has higher ratings from its customers across all three platforms.

Scenarios in which Hometap or Unison is better

If you’re still unsure which company is best for you, we’ve outlined some specific scenarios below where each stands out. Click a scenario from the following table to jump down.

If you need a large investmentHometap
If you need a small investmentHometap
If you want a long term lengthUnison
If you want a company with excellent ratingsHometap
If you don’t want any repayment restrictionsHometap
If you have poor creditHometap

Scenario #1: If you need a large investment

Want the largest payment possible? Then Hometap’s your answer. With Hometap, you can get up to $600,000, while Unison’s limit is slightly less at $500,000.

Just remember: Your payment is based on your home’s value, so to access that full $600,000, your home would need to be worth at least $800,000. Hometap will lend you 75% of your home’s value. (And $800,000 x .75 = $600,000).


Scenario #2: If you need a small investment

Hometap’s also your best bet if you need a smaller amount. Unison’s minimum investment is $30,000. Hometap, on the other hand, has a minimum investment of $15,000.


Scenario #3: If you want a longer term length

Unison offers 30-year terms, meaning you won’t need to sell the home or repay the money for at least three decades (if you want). Hometap’s term is much shorter, and repayment is due within ten years.


Scenario #4: If you want a company with excellent ratings

We covered this above, but Hometap’s ratings tend to be better than Unison’s. The company has far fewer negative reviews and complaints.


Scenario #5: If you don’t want any buyout restrictions

Regarding repayment, Unison wants you to keep the investment for at least five years. If you decide to sell before that point, Unison will not take any loss if your home has declined in value. Hometap, on the other hand, allows you to sell or buy out its investment at any point during the 10-year term.


Scenario #6: If you have poor credit

Hometap’s credit score minimum is much lower, so if your credit isn’t great, they may be your best option. With Unison, you’ll need at least a 620 — and if you’re near the bottom of that threshold, you’ll also need a lower DTI and will be able to access less cash. As Unison puts it, “The allowable LTV and DTI goes down as credit score goes down.”


Final verdict: Which is our choice between Hometap and Unison?

Based on our internal analysis and customer reviews, we’d pick Hometap over Unison for homeowners residing in a state where both companies operate. If you live in a state in which only one of Hometap or Unison is available, both received editorial ratings that were high enough to be recommended.