Unlock Your Home's Hidden Wealth Without Selling
Your home equity is a powerful financial resource. Discover how to access it without selling your home.
Selling your home these days is not high on the list of priorities for many homeowners. In a recent survey Unlock conducted, they learned that 60% of homeowners are unsure or didn’t think that 2025 would be a good year to sell. The reasons are varied. Here is a chart showing their answers.
Unlock Technologies Economic Survey, January 28 – February 3, 2025
In many cases, people simply do not want to take on the stress and work involved in moving. Looking at this picture, it’s easy to see why sales of existing homes fell almost 5% from December 2024 to January 2025, according to the National Association of Realtors.
At the same time, home equity stands at an all-time high. Thanks to rapidly increasing housing prices over the past several years, homeowners have accumulated a collective, all-time, high of more than $32 trillion in home equity. Those who want to access that equity (and turn it into cash) have plenty of options to do so without selling. While several traditional loan alternatives are available, homeowners also have other option.
Loan Options to Access Home Equity
1. Home Equity Loan: Lump Sum with Fixed Terms
A home equity loan allows you to borrow a lump sum against your home’s equity, repaid over a fixed term with a consistent interest rate.
Key Point: Ideal for significant one-time expenses, offering predictable monthly payments.
2. Home Equity Line of Credit (HELOC): Flexible Access
A HELOC provides a revolving line of credit, enabling you to borrow as needed up to a certain limit, with variable interest rates.
Key Point: Best suited for ongoing expenses, offering flexibility in borrowing and repayment.
3. Cash-Out Refinance
This option involves refinancing your existing mortgage for more than you currently owe, giving you access to the difference in cash.
Key Point: Useful if current mortgage rates are favorable, but be cautious of higher interest rates and closing costs.
4. Reverse Mortgage: For Seniors Seeking Income
Available to homeowners aged 62 and older, a reverse mortgage converts part of your home equity into cash without monthly payments.
Key Point: Provides income for retirees, but reduces the equity left in your home over time.
Other Options to Access Home Equity
1. Home Equity Agreement (HEA)
An HEA allows you to receive cash in exchange for a share of your home’s future value, without taking on debt or monthly payments. Access up to $500,000 in home equity. Available to property owners of all ages.
Key Point: Ideal for a variety of homeowners, offering flexibility without the burden of monthly repayments. You receive cash up front in exchange for a portion of your home’s future value.
Importance of Home Equity
Home equity is a bright spot in an otherwise uncertain housing market. If you need cash (for home improvements, paying off debt, building your emergency fund or other reasons) the good news is that you have several options to tap your home equity. You’ll need to carefully research each option to see what works best for you. If you are more comfortable without taking on additional monthly debt payments, an HEA might be an ideal option.
Terms and conditions apply. Some applicants will not qualify. Not available in all states.
Unlock Agreements are provided exclusively by Unlock Partnership Solutions Inc., Unlock Partnership Solutions AO1 Inc., Unlock Partnership Solutions AO2 Inc., and Unlock Homeownership Solutions Inc., all of which are wholly-owned subsidiaries of Unlock Technologies, Inc. (collectively, “Unlock”).
Unlock holds the following Real Estate Broker licenses: Arizona – CO698434000; California – 02141737; Colorado – IC100092644; D.C. – REO40000074; Florida – CQ1062618; Hawaii – RB-23715; Illinois – 478027520; Massachusetts – 423954; Michigan – 6505431174; Minnesota – 40797638; Nevada – B.1002613; New Jersey – 2185646; North Carolina – C33769; Oregon – 201243836; Pennsylvania – RB069442; South Carolina – 25463; Tennessee – 265329; Utah – 12139955-CN00; Virginia – 0226033193; and Washington – 21010143.
The applicable Unlock entity enters into the Unlock Agreement directly with consumers and does not act as an agent or broker on behalf of any third-party. No agency relationship shall be formed between any Unlock entity and a consumer pursuant to or in connection with an Unlock Agreement. All Rights Reserved. Other terms and restrictions apply.
- Each home equity agreement (HEA) is subject to additional individual underwriting review.
- All transactions are subject to verification of your credit (with a soft credit pull), identity, property value, home insurance, title, and outstanding property liens. Other verifications may be required.
- Unlock may also require HEA proceeds to be used to clear any pre-existing liens as a condition to close.
- The following limitations shall apply in all cases: no bankruptcy, foreclosure action, short sale, or deed in lieu within the previous five years; no 90-day delinquencies on any mortgage within the prior 24 months.
- In most cases, Unlock must be in no greater than 2nd lien position and the property must be clear of any liens deemed unacceptable by Unlock in its discretion.
- A minimum HEA amount of $15,000 is required on all transactions.
- Property condition rating, as described in the Uniform Appraisal Dataset (UAD), must be at least C4 or better and properties for which comparable valuations, in the discretion of Unlock, do not exist may be ineligible.
- Not available in all states.
- To secure the performance of your obligations under HEA, Unlock will place a lien on your property in the form of either a “performance deed of trust” or a “performance mortgage” depending upon which state the property is located. The lien is terminated when you settle your HEA.
- Unlock charges up to a 4.9% origination fee and other third party paid closing costs such as appraisal, title, and government fees.
- The home equity agreement term is 10 years.
- The timeline to funding of approved HEAs may vary depending on when the homeowner submits a completed application and all supplemental documents are received and verified.
- An affiliate of Unlock Technologies, Inc., Unlock Home Equity Solutions Inc. d/b/a Unlock and/or Unlock Technologies (“UHES”) has applied for certain licenses which may be pending. UHES does not presently offer home equity agreements in any state where such products must be offered as a licensed mortgage product or any other type of licensed financial product.
- Please contact us for more information at hello@unlock.com.
- For additional information please review the Unlock Product Guide.
No new debt,
Home Equity Agreement
