Updated
May 22, 2023 Unison is a home investment company. It offers equity sharing agreements, which allow homeowners to trade a portion of their home’s future value for a lump-sum cash payment.
There are several companies like Unison that offer home equity sharing, as well as others that provide similar products, including home equity loans and home equity lines of credit (HELOCs). Use this guide to learn how Unison’s various competitors and alternatives stack up.
In this article:
How does Unison work?
Unison gives you a cash payment in exchange for a share of your home’s future value. It works like this: You apply for equity sharing with Unison, and the company determines how much of your equity you’re eligible to trade. You then get a lump-sum payment while Unison retains a percentage of your equity plus a share of any gains in its future appreciation. You have 30 years to buy Unison’s share out, or you can sell or refinance (or take out another kind of loan) to settle up.
Homeowners typically use solutions like Unison’s to cover home renovations, pay off higher-interest debts, or pay for big expenses such as unexpected medical bills, college tuition, a car, and so forth.
Unison competitors
Unison is not the only company that offers equity sharing agreements. There are several other options if equity sharing is on your radar, and each varies slightly in its reviews, payment amounts, eligibility requirements, and more.
Use the below graph to decide which Unison competitor might be best for your situation:
| Unison | Hometap | Point | Unlock | |
| Our rating | 4.7 out of 5 | 4.5 out of 5 | 4.3 out of 5 | 4.5 out of 5 |
| Min. credit score | 620 | 500 | 500 | 550 |
| Min. income | None | None | None | None |
| Max. loan-to-value (LTV) | 70% | 75% | 80% | 80% |
| State availability | 29 states | 15 states | 17 states | 15 states |
| Investment amount | $30,000 to $500,000 | $15,000 to $600,000 | $25,000 to $500,000 | $30,000 to $500,000 |
| Term length | 30 years | 10 years | 30 years | 10 years |
| Origination fee | 3% | 3% | 3% to 5% | 3% |
| Buyout options | Cash, home sale, or refinance | Cash, home sale, or refinance | Cash, home sale, or refinance | Cash, home sale, or refinance |
| Prequalification | Yes | Yes | Yes | Yes |
| Get started | Cash estimate | Cash estimate | Cash estimate | Cash estimate |
Hometap
Best for homeowners with poor credit
- Investments from $15,000 to $600,000
- Highest customer reviews of all of Unison’s competitors
- No out-of-pocket costs
About Hometap
Hometap is a Boston-based company that offers home equity sharing agreements similar to Unison’s. The company has 3 stars on the Better Business Bureau (though there are only two reviews) and 4.9 stars on Trustpilot, as of February 25th, 2022.
What makes it a good alternative to Unison?
Hometap stands out with a much lower credit score minimum. At Hometap, homeowners can have credit scores as low as 500, while at Unison, the minimum is 620.
The company also offers larger potential payment amounts (up to $600,000) and boasts stellar reviews on Trustpilot. A whopping 97% of past customers rate their experience either “excellent” or “great.”
Pros
- Lower credit score minimum
- High payment amounts
- Great customer reviews
Cons
- Not as widely available
- Much shorter terms
Point
Best for long term lengths with poor credit
- Investments from $25,000 to $500,000
- Promotional pricing may be available when funds are used for eligible home improvements
- 30-year term length
About Point
Like Hometap, Point also offers home equity sharing agreements, which let homeowners sell a portion of their home’s future value for cash. The company is based in California and has 4.46 stars on the Better Business Bureau and 4.5 stars on Trustpilot, as of February 25th, 2022.
What makes it a good alternative to Unison?
Point’s biggest advantages, when compared with Unison, are its much lower credit score minimum (500 vs. 620), as well as its higher loan-to-value amount (80% vs. 75%). This allows homeowners to access more cash if they’re eligible.
The company also allows for investment properties and second homes, and you can rent your home out after the investment, which is typically not an option with Unison (though there is an added fee for this).
Pros
- Higher LTV
- Lower credit score minimum
- Lower investment minimum
- Allows for investment properties and second homes
- Can rent your property after
Cons
- Potentially higher transaction fees
- Not as widely available
Unlock
Best for buy-out flexibility
- Investments from $30,000 to $500,000
- Only company allowing partial buy out payments
- Doesn’t share in the value added from home improvements
About Unlock
Unlock is another co-investing company that offers cash payments in exchange for a portion of a home’s future value. It’s based in California and has 5 stars on the Better Business Bureau and a 4.5 on Trustpilot, as of February 25th, 2022.
What makes it a good alternative to Unison?
A few things make Unlock a good alternative to Unison. First, the company allows for partial payments. Rather than buying out Unlock all at once, you can make smaller payments across the length of your term and buy out the company gradually.
Unlock also allows for rental homes, investment properties, and second houses, while Unison typically does not. Its credit score minimum (550) is lower as well (Unison’s is 620).
Pros
- Partial payments available
- Lower credit score minimum
- Allows for second homes and investment properties
- Higher LTV
Cons
- Not as widely available
- Much shorter term
Unison alternatives
If you’re looking for a non-equity sharing option, there are several of those too. These include companies that offer home equity loans and HELOCs (home equity lines of credit).
Here’s a look at some Unison alternatives in this vein and how they measure up.
| Unison | Figure | Spring EQ | |
| Product | Equity sharing agreement | HELOC | Home equity loan |
| Min. credit score | 620 | 640 | 620 |
| Min. income | None | None | None |
| Max. LTV | 70% | 85% | 95% |
| State availability | 28 states | 43 states + DC | Nationwide |
| Funding amount | $30,000 to $500,000 | $15,000 to $400,000 | Up to $500,000 |
| Term length | 30 years | 5, 10, 15, or 30 years | 5 to 30 years |
| Origination fee | 3% | Up to 4.99% | Unknown |
| Prequalification | Cash Estimate | Check Rate | Check Rate |
Figure
- 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
About Figure
Figure is an online lender that offers mortgage loans, personal loans, and HELOCs, as well as investment opportunities and business solutions. The company is based in North Carolina and has 2 stars on the Better Business Bureau and 4.7 stars on Trustpilot, as of February 25th, 2022.
What makes it a good alternative to Unison?
Homeowners can access more of their home’s equity with Figure’s home equity line of credit. The company’s maximum loan-to-value (LTV) goes up to 85% for the highest-credit borrowers, while Unison’s maximum is 75%.
The company is also much more widely available than Unison and allows for second homes and investment properties. States where Figure is present but Unison is not include Alaska, Alabama, Arkansas, Connecticut, Georgia, Iowa, Idaho, Louisiana, Maine, Mississippi, Montana, North Dakota, Nebraska, New Hampshire, Nevada, Oklahoma, Vermont, and Wyoming.
Pros
- More widely available
- Higher LTV
- Allows second homes and investment properties
- More term options
Cons
- Comes with interest
- Requires a monthly payment
- Lower maximum loan amount
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 mortgage lender that offers home equity loans, cash-out refinances, and purchase loans. The company is based in Philadelphia and boasts 4.6 stars on the Better Business Bureau, as February 25th, 2022.
What makes it a good alternative to Unison?
Spring EQ offers the highest loan-to-value limits of all Unison alternatives and competitors. Homeowners who opt for Spring EQ’s home equity loan can access up to 95% of their home’s equity, up to $500,000.
The company is also more widely available than Unison and plans to open up to more states soon.
Pros
- Higher LTV
- More widely available
- More term options
Cons
- Variable interest rates
- Monthly payment requirement
- Higher credit score minimum
Which Unison competitor or alternative should you use?
If you’re looking to access your home equity, there are multiple Unison alternatives and competitors you can go with. The right choice depends on your budget (can you afford a monthly payment?) as well as your credit score, how much cash you need, and how long you expect to be in the home.
If you’re unsure which option is the best for your specific situation, consider talking to a financial advisor. They can help you determine the right path forward for your household.