Unison Review: Co-Buy a Home or Cash in Your Equity
Unison provides down payment assistance to homebuyers, and it offers homeowners the chance to cash out some of their home equity. There’s no loan payments to make. Instead, investors get a share of future home appreciation and a portion of the home’s value when you sell it.

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Buying your dream home can be a major challenge if you don’t have the money to make a 20% down payment. Without it, loan approval becomes more challenging, and you’ll face the added expense of higher interest payments and private mortgage insurance.
Current homeowners may also face challenges if they live in high-priced markets. Too much of their wealth may be tied up in their home, and they may need to tap into this equity to finance other large expenses, such as medical bills or a child’s college tuition.
Unison can help with both situations. It allows homeowners to convert up to 17.5% of their home’s value to cash, and it provides down payment assistance to homebuyers—both without the requirement for monthly loan payments. In exchange, investors gain a share of the home’s future appreciation, which they’ll cash in when you sell the home.
This Unison review will help you to understand what the company offers and how the process works, so you can decide if Unison is right for you.
In this review:
Unison HomeBuyer Review
Unison HomeBuyer
What we like:
N/A
Loan-to-Value | 80% |
Down Payment | 5% |
Term Length | Up to 30 years |
Loan Amount | $500,000 |
With Unison HomeBuyer, you can put as little as 5% down on your home and Unison will pay the rest of your down payment costs. You can shop for your dream home, check to see if it qualifies for Unison’s HomeBuyer program, and then buy your home with the help of Unison and an approved lender.
If your home qualifies and you get approved for financing, you’ll sign your offer letter and closing package and Unison will get you funding in as little as 15 days. You’ll own your home and Unison will share a portion of the future increase in property values.
Eligibility
Location
You may be eligible to obtain a portion of your equity from Unison HomeBuyer if your home is located in one of the following states:
- Arizona
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Illinois
- Indiana
- Kansas
- Kentucky
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Missouri
- Nevada
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oregon
- Pennsylvania
- South Carolina
- Tennessee
- Utah
- Virginia
- Washington
- Washington D.C.
- Wisconsin
Primary Residence
You also must intend to live in your home, which means you must not ever be away for more than 60 consecutive days, and you must spend 180 days out of every 365-day period in your home. This means you can’t use Unison to finance the purchase of rental properties
LTV
Also, your total loan-to-value ratio cannot exceed 80%. This means your personal down payment combined with Unison’s contribution needs to equal at least 20% of the value of the home.
Credit Score
Finally, you must have a credit score of at least 680 and a debt-to-income ratio of less than 43%.
Rates & Fees
Here is what you need to know about Unison HomeBuyer’s terms:
- Most deals close in less than three weeks.
- Only owner-occupied primary residences are eligible. This includes single-family homes, townhouses, and condos.
- Unison charges a 2.5% origination fee for the HomeBuyer program. There are no application or processing fees, but you are responsible for third-party fees including closing services and credit reporting charges.
- Your home loan on the home you purchase cannot exceed 80% of the home’s value, so the down payment you make plus Unison’s investment must equal 20% of the home’s value.
- You must put down at least 5% of the home’s value.
- Unison requires a home appraisal.
- You must agree to maintain and insure your home.
Pros and Cons of Unison HomeBuyer
Pros
- You can buy a home with a smaller down payment.
- You can avoid private mortgage insurance, which is usually required if you’re putting less than 5% down.
- You can lower your monthly mortgage payments.
- It’s often possible to close more quickly on your home.
- You aren’t tying up as much of your money in your home.
Cons
- There is an upfront origination fee.
- Unison is available only in certain markets and not everyone can qualify.
- You will lose a portion of the value of your home’s future appreciation.
- You could end up forfeiting a large amount of money to Unison if your home appreciates substantially.
Unison HomeOwner Review
Unison HomeOwner
What we like:
N/A
Servicing Fee | 3.90% |
Term Length | Up to 30 years |
Minimum Credit Score | 680 |
Debt-to-Income | 43% |
Unison HomeOwner allows you to convert as much as 17.5% of the value of your home into cash. You don’t have to worry about any debt payments, unlike if you obtain a home equity loan. And you are able to use the money Unison provides for any purpose, from paying off credit card debt to financing a remodel to starting a business.
Unison allows you to diversify your investment if you have too much cash tied up in real estate. You retain ownership and control of the house, continue living in it, and Unison doesn’t tell you if or when you have to sell. You simply have to give Unison its portion of the proceeds if you do sell your home or at the end of the agreement of 30 years, whichever comes sooner.
Eligibility
Location
Unison HomeOwner is available only in select markets. Your home must be located in one of these states:
- Arizona
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Illinois
- Indiana
- Kansas
- Kentucky
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Missouri
- Nevada
- New Jersey
- New Mexico
- New York
- North Carolina
- Ohio
- Oregon
- Pennsylvania
- South Carolina
- Tennessee
- Utah
- Virginia
- Washington
- Washington D.C.
- Wisconsin
Primary Residence
The property of interest must be your current home. This means you must spend 180 out of every 365 days in the house and cannot be absent for more than 60 consecutive days.
Credit Score
You must have at least a 680 credit score.
Debt
To be eligible, your debt-to-income ratio must be less than 50%. Further, you cannot obtain more than 17.5% of the market value of your home—or more than $500,000—from Unison.
Rates & Fees
Here is what you need to know about the costs, fees, and terms of working with Unison HomeOwner:
- Your agreement with Unison lasts 30 years or until you sell. After 30 years, you need to pay back Unison and release it from the agreement.
- Unison receives repayment based on the appreciation of your home.
- There are no monthly payments required with Unison.
- Unison deducts a 3.9% transaction fee from cash proceeds at closing with Unison HomeOwner.
- Unison’s share in the future change in your home’s value is between 17.5% and 70%. The most common share is 35%.
- You are required to maintain your home.
Pros and Cons of Unison HomeOwner
Pros
There are some significant benefits to Unison HomeOwner:
- You can diversify your investments without having to sell your home. Unison does not take an ownership interest in your house.
- You aren’t borrowing against the equity in your home, so there are no monthly payments to make and no interest costs to pay.
- You have 30 years to pay back Unison unless you sell your home sooner.
Cons
- The origination fee is expensive.
- You may lose a significant portion of the future appreciation of your home.
- You may end up paying Unison far more than you would have paid for a traditional home equity loan or HELOC.
Unison Alternatives
Unison is not the only company that offers a home equity sharing agreement. Your other options include:
If you are trying to fund a one-off purchase or otherwise need cash but you don’t want to share the appreciation in your home, you could also consider a home equity loan or a home equity line of credit. While you’ll have to make payments and pay interest with these financing options, you will be the only person that benefits if your home rises in value in the future.
Bottom Line: Is Unison Home Right for You?
If you live in one of the areas where Unison operates and you want to get money out of your house, or if you want to buy a home with less money down, working with Unison can make sense. Just be aware that you are giving up some of the financial benefits of long-term homeownership.
3.77 UnisonAuthor: Christy Rakoczy
