Point is an equity-sharing company for homeowners. The company purchases a share of your home’s equity, and you get a lump-sum payment in return. Those funds can then be used as needed.
Below, we’ll look at how Point compares to some of its primary competitors, as well as some alternative home equity financing options.
Point competitors
Three direct competitors of Point include Hometap, Unlock, and Unison. In the following table, we’ll look at how each of these companies compares to Point.
| Hometap | Unlock | Unison | Point | |
| Min. Credit Score | 500 | 550 | 620 | 500 |
| Min. Income | None | None | None | None |
| Max. LTV | 75% | 80% | 70% | 80% |
| Cash Offer | $15,000 – $600,000 | $30,000 – $500,000 | $30,000 – $500,000 | $25,000 – $500,000 |
| Term Length | 10 years | 10 years | 30 years | 30 years |
| Origination Fee | 3% | 3% | 3.9% | 3% – 5% |
| Buy Out Options | Refinance, lump-sum payment, or home sale | Refinance, lump-sum payment, partial payments, or home sale | Refinance, lump-sum payment, or home sale | Refinance, lump-sum payment, or home sale |
| Our Rating | 4.6 | 4.7 | 4.4 | 4.4 |
| Get a Cash Estimate | Prequalify | Prequalify | Prequalify | Prequalify |
Hometap
- Investments from $15,000 to $600,000
- Highest customer rating of all companies listed
- No out-of-pocket costs
About Hometap
Hometap is a direct competitor of Point, also offering home equity sharing agreements.
In addition to standing out in our research, Hometap is also viewed positively by its customers, boasting an excellent rating on Trustpilot.
What makes it a good alternative to Point?
Hometap is an excellent alternative to Point for homeowners in need of more than $500,000 in cash and who want to limit the amount they are charged in fees.
Good customer service is also an advantage with Hometap. The company’s strong reviews suggest most customers are pleased with their experience.
Pros
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Origination fee capped at 3%
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Offers the widest investment range
Cons
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Shorter term length than Point
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Available in fewer states than Point
Unlock
- Investments from $30,000 to $500,000
- Only company allowing partial buy out payments
- Prequalify and receive a cash estimate with no impact on your credit score
About Unlock
Unlock is an equity-sharing company that, like Point and Hometap, offers an upfront payment in exchange for a stake in your home’s equity.
What makes it a good alternative to Point?
What makes Unlock unique is its partial buy out option, which lets you buy out the company’s investment in partial payments rather than a lump sum or by selling or refinancing. It’s the only equity sharing company that offers this feature.
Another perk is that Unlock’s fees are capped at 3%, while Point’s range between 3% to 5%.
Pros
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Origination fee capped at 3%
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Allows for partial buyout payments
Cons
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Shorter term length than Point
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Available in fewer states than Point
Unison
- Investments from $30,000 to $500,000
- Available in more states than the other companies listed
- A long term length of 30 years
About Unison
Another alternative to Point is Unison, which also offers equity sharing agreements. Founded in 2004, Unison was the first company to provide these agreements to homeowners.
What makes it a good alternative to Hometap?
Unison is the most widely available equity sharing option on this list. It is available in more than a dozen states where Point is not. These states include Delaware, Indiana, Kansas, Kentucky, Missouri, New Mexico, Rhode Island, South Carolina, Tennessee, Utah, and Wisconsin.
Pros
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Available in more states than any other home equity sharing company
Cons
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Higher minimum credit score
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If you sell your home within five years, Unison will not share in any losses if the home has depreciated
Alternatives to Point’s home equity financing solution
Though Point, Unison, Hometap, and Unlock can all help you unlock your home’s equity, they’re not your only option if you need cash. Homeowners can also consider a home equity loan or home equity line of credit (HELOC) instead.
See how these products measure up to home equity sharing below.
| Figure | Spring EQ | Point | |
| Product | HELOC | Home equity loan | Equity sharing agreement |
| Min. Credit Score | 640 | 620 | 500 |
| Min. Income | None | None | None |
| Max. LTV | 85% | 95% | 80% |
| Funding Amount | $15,000 – $400,000 | $25,000 – $500,000 | $25,000 – $500,000 |
| Term Length | 5, 10, 15, and 30 years | 5 to 30 years | 30 years |
| Origination Fee | Up to 4.99% | Unknown | 3% – 5% |
| Prequalify | Prequalify | Prequalify |
Figure
- Rates between 2.88% and 13.25% APR
- Funding between $15,000 and $250,000
- 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
About Figure
Figure offers a variety of financing products, including HELOCs, personal loans, and mortgage refinancing. They also offer banking services, investment options, and merchant payment solutions.
What makes it a good alternative to Point?
The biggest benefit, when compared to Point, is Figure’s much higher loan-to-value ratio, which allows you to tap 85% of your home’s value versus just 80% from Point.
There’s also a smaller minimum payment ($15,000 vs. Point’s $25,000), and there are more term choices, too. You can choose between five and 30-year terms. Point offers a single 30-year term.
Pros
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Offers more term choices
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Higher LTV allowed
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Lower minimum funding amount
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More widely available
Cons
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Requires a higher minimum credit score than Point
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Requires a monthly payment
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Must pay interest
Spring EQ
- Rates starting at 5.205% APR
- Funding between $25,000 and $500,000
- Term lengths between five and 30 years
About Spring EQ
Spring EQ is a company that offers home equity loans and several types of mortgages, including home purchase loans, refinances, and cash-out refinances. Spring EQ also offers insurance policies through its partner insurance agency.
What makes it a good alternative to Point?
A home equity loan from Spring EQ can be a good alternative to Point because it’s available nationwide, has a predictable repayment amount, and doesn’t require you to exchange equity in your home.
Pros
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Offers more term choices
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Higher LTV allowed
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More widely available
Cons
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Lower maximum funding amount
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Higher minimum credit score
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Will need to pay interest
Are you considering a Point competitor or alternative?
Point and its competitors can all be good options if you need to tap your home equity. If you’re not sure which is best, read our full reviews of each (Unlock, Unison, Point, and Hometap) or talk to a financial advisor for personalized advice.