Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Home Equity Home Equity Investments Unison Competitors and Alternatives Updated May 23, 2024 4-min read Written by Aly Yale Written by Aly Yale Expertise: Home equity, mortgages, real estate Aly Yale is a freelance writer with more than a decade of experience covering real estate and personal finance topics. Learn more about Aly Yale Unison is a home equity investment company offering a lump sum payment in exchange for a portion of your home’s equity. Several companies like Unison offer these investments, as well as others that provide similar products, including home equity loans and lines of credit. We’ll compare Unison to all of them below. Table of Contents Skip to Section How does Unison work?Unison competitorsUnison alternatives How does Unison work? During the application process, you’ll communicate how much money you’re looking for, and Unison will determine whether you have sufficient equity in your home for the amount you need. If you have enough equity and agree to the terms, Unison will provide you with a lump sum cash payment in exchange for a share of your home’s equity. You’ll have 30 years to buy out Unison’s share, or you’ll have to sell your home or refinance your mortgage to obtain the necessary funds. Unison competitors In the table below, we’ll compare Unison’s investment to two of its direct competitors. UnisonHometapUnlockOur rating3.8/54.8/54.6/5Credit score620+500+550+Availability29 states16 states14 statesMin. investment$30,000$15,000$30,000Max. investment$500,000$600,000$500,000Term length30 years10 years10 yearsPrequalifyPrequalifyPrequalify Hometap Free Cash Estimate Investments from $15,000 to $600,000Highest customer reviews of all of Unison’s competitorsNo out-of-pocket costs 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 also 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 poor credit. Unlock Free Cash Estimate Investments from $30,000 to $500,000Only company allowing partial buy out paymentsDoesn’t share in the value added from home improvements 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. 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. Here’s a look at some Unison alternatives. UnisonFigureSpring EQProductInvestmentHELOCLoanCredit score620+640+620+State availability28 states43 states50 statesMin. funding$30,000$15,000Not listedMax. funding$500,000$400,000$500,000Term length30 years5 – 30 years5 – 30 yearsPrequalifyPrequalifyView Rates Figure View Rates Rates between 3.99% and 11.66% APRFunding between $20,000 and $400,000The 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 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. Spring EQ View Rates Rates starting at 5.205% APRFunding between $25,000 and $500,000Term lengths between five and 30 years What makes it a good alternative to Unison? Spring EQ is a mortgage lender based in Philadelphia that offers home equity loans, cash-out refinances, and purchase loans. Spring EQ lets homeowners access up to 95% (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. 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?), your credit score, how much cash you need, and how long you expect to be in the home.