Unlock Review 2025 (Pros and Cons) Access Your Home Equity

Americans have a total credit card balance of $1.115 trillion.

Simultaneously, Americans have almost $33 trillion in home equity. If you’re a homeowner looking for cash, then some of that value is yours!

Homeowners can tap into their equity to pay off high-interest debts such as medical bills, auto loans, credit card debt, and more. 

There are several traditional ways to tap into your home’s equity. HELOCs, home equity loans, cash-out refinancing, and more.

But if you’re looking to avoid a loan or don’t qualify for a traditional financing option, there’s another solution: Unlock, an home equity agreement (HEA) that lets you access your home equity without a loan or any added debt.

Unlock is helping homeowners tap into their homes’ future value without interest, monthly payments, or refinancing.

Unlock’s Key Features:

• Minimum credit score 500
• Cash amounts: $30,000 to $500,000
• No monthly payments or added interest, ever

In this Unlock review, I’ll explain how it works and how you can decide if it’s right for you. 

What is Unlock? 

Unlock is a provider of a home equity agreement (HEA) , a financial product that provides money upfront in exchange for a portion of your home’s future value. 

Here’s the basic idea: 

The portion of your home that you own is called equity. If you’re in need of financial support, you can tap into your equity in exchange for a portion of your home’s future value without monthly payments. You pay back a fixed value when you sell your home or at the end of your 10-year agreement. 

So it’s sort of like a loan in that you get something now, then pay it back later. 

But unlike a loan, you won’t have to worry about monthly payments, interest, or added debt.

Still not sure? Check out this video for a better understanding of Unlock and home equity agreements:

How Does Unlock Work?

It’s time for this Unlock review to get a bit more specific about how the process works. 

The first step is to arrange a “home equity agreement.” 

This is a 4-step process:

• Step 1: Use Unlock’s website to get an estimate of how much equity you could take out of your home. Unlock gives homeowners access to up to $500,000.
  • *No obligation; quote within a few minutes 
• Step 2: Apply online. After you submit your application, Unlock will contact an independent third party to complete an appraisal and title report, which will determine your property’s current value. 
• Step 3: Receive an offer, decide how much equity you’ll take out, and sign the necessary documents. You’ll also have to pay a closing fee (4.9% of the money you’ll receive) and the cost of the independent appraisal. 
• Step 4: Receive the funds by wire transfer within a few days.

So that’s the fun part – getting your money! 

But how will you pay them back?

When you sign the agreement, you’ll agree to share a certain percentage of your home’s future value. 

Unlock offers 10-year terms. This means you have ten years to settle your agreement. There are three ways to do this:

Option 1  is to buy Unlock out. This means paying them the agreed-upon share of your home’s value without selling your house.

Option 2 is to sell your home and use the money from the sale to pay Unlock their share. This is similar to when you sell your home and have to pay the lender whatever is owed on your mortgage. The idea is that the home “pays back” the home equity agreement whenever you sell. 

But you don’t have to sell.

Option 3 is to extend your terms with Unlock. Need more time? Work with Unlock to determine what makes the most sense for your situation. me’s value without selling your house.

Unlock Vs. Home Equity Loan

So the point of Unlock is to take equity out of your home, which is what a home equity loan does, too. 

And with both strategies, you get a lump sum right at the start of the agreement. But that’s where the similarities end.

Here are the key differences:

• Unlock’s minimum credit score requirement is only 500. For home equity loans, a score above 700 is the general target.   
• With Unlock, you can make payments that work for your life. Repaying Unlock can happen all at once or in partial payments over the term. 
• There’s no added debt with Unlock. Yes, the amount you owe could increase, but only alongside the rising value of your home.

Unlock Vs. Home Equity Line of Credit (HELOC)

Home equity lines of credit, often called HELOCs, offer another way to tap the equity in your home.

Here are some key differences between Unlock and home equity lines of credit (HELOCs):

• Unlock gives you money upfront in a lump sum. HELOCs, on the other hand, give you access to a line of credit that you can draw from as you choose.
• Unlock has no monthly payments or interest. While HELOCs act like credit cards – with interest, monthly bills, and all that not-so-fun stuff – Unlock lets you forget about the agreement until it’s time to settle.
• It’s easier to qualify for Unlock than a HELOC. Is your credit score in rough shape? Unlock is still an option as long as your score is above 500, while a HELOC would require something closer to 680.  

Is Unlock Legit?

Unlock is a genuine company with real estate licenses in the states where it operates. 

It’s also an accredited business with the Better Business Bureau, where it receives an A+ rating. 

So for me, Unlock checks all the boxes. It’s got the green light from state governments AND an independent organization that’s dedicated to promoting fair business practices. 

That doesn’t mean Unlock is the right choice for you, but it does mean they’re not a pack of scammers.

Is Unlock Safe?

Unlock is totally safe in the sense that you won’t get defrauded. 

These folks aren’t crooks – just look at their positive online reviews. That means you can send them your information without worry.

But is signing a home equity agreement with Unlock a safe financial move? 

Usually, but, as with most financial strategies, there is an element of risk. If you fail to pay your property taxes and make your payments on your primary mortgage, Unlock could initiate a foreclosure. 

As with any financing tied to your home, it comes with additional responsibilities. Just like a mortgage, you are required to pay your property taxes and have home insurance. And just like a mortgage, if you default on your HEA, Unlock could initiate a foreclosure. 

Pros and Cons of Unlock

Is Unlock a valuable service? I think so. But is it completely free of downsides? Of course not. 

Nothing’s perfect, no free lunches. You know how it goes.

The goal is to come away from this Unlock review with a full idea of what the service can do for you as well as what it can’t.

Pros	Cons
The minimum credit score is 500. That’s a lot lower than you’ll see for most financial services.	You’ll lose part of your profit when selling your home. This is what you’re giving up instead of making monthly payments.
No monthly payments. You don’t have to pay Unlock back until you settle with them at the end of your agreement (up to 10 years).	Unlock is only available in 14 states. Can’t find your state on the list? Then check out these other companies offering home equity agreements.
No interest. This isn’t a loan, which means you won’t pay any interest.	There’s a 4.9% origination fee. You’ll pay this out of your HEA proceeds at the start of the agreement.
Applying is quick and easy. From getting your initial estimate to receiving your funds, Unlock keeps things simple.	You could be forced to sell your home. You’ll have ten years to settle the agreement with Unlock. If you can’t afford to buy them out, you’ll have to sell, or apply for an extension.
Flexible income requirement. Unlock is more interested in your home’s value than your monthly earnings.

Where Is Unlock Available?

Unlock isn’t currently available everywhere. You can work with Unlock right now if you reside in any of the following 14 states:

• Arizona
• California
• Colorado
• Florida
• Michigan
• North Carolina
• New Jersey
• Oregon
• Pennsylvania
• South Carolina
• Tennessee
• Utah
• Virginia
• Washington

Unlock Reviews

Unlock is still a relatively “non-traditional” solution. It’s not as popular as home equity loans, which is reflected in the number of Unlock reviews you see online. 

Are you looking for the Unlock reviews Reddit users have been posting? If so, you might not find any. 

That doesn’t mean Unlock isn’t legit – because it is. It just means the service is still under the radar.

But there are other online Unlock reviews to consider. 

On the ConsumerAffairs website, Unlock has a 4-star rating from reviewers. One user praised the company’s transparency and customer service.

Another user lamented having to “jump through hoops” to get their payment approved, and yet they still gave Unlock a 5-star rating. 

Imagine being that satisfied even after a major hiccup!

One user gave Unlock a single star but praised the company’s customer service in the process! 

Their beef? That Unlock’s pricing model seemed unfair. And I can see their point. You do end up paying a lot more money than you receive. But just like debt, the financing does have a cost associated with it.

Is Unlock Worth It?

Ah, the most important question of all, and the one without a simple answer. 

Unlock is worth it for some people but not for others.

Do you need money ASAP, and are you planning on selling your home in the next ten years? Then Unlock is an interesting option.

Are you planning on living in your home for decades, and are you counting on maintaining all your home equity? Then Unlock isn’t for you.

Commonly Asked Questions About Unlock

What are Alternatives to Unlock? 

Hometap and Unison are alternatives to Unlock. They use the same model: Paying you money upfront in exchange for a share of your home’s future value. They’re also available in different states. This makes them great options for people living where Unlock doesn’t operate. 

Is Unlock a Reverse Mortgage?

Unlock is not a reverse mortgage. Unlike a reverse mortgage, Unlock doesn’t count as a loan. Unlock is also available to people of any age, while reverse mortgages are only for people aged 62 and over. 

Is Unlock a HELOC?

No. A deal with Unlock is an equity agreement, not a loan. If you decide to work with Unlock, you won’t take on any new debt and won’t have to make a monthly payment. Unlock is investing in your home alongside you and will be repaid by sharing in your home’s appreciation.

What Credit Score Does Unlock Require? 

Unlock requires a credit score of 500 or higher – which is remarkably reasonable! One small caveat: Folks with a score under 500 may face additional requirements.

Does Unlock Require an Appraisal?

Unlock will conduct an appraisal of your home as part of the underwriting process. But don’t worry. They’ll use an independent third-party appraiser, so the process is clean and fair. The goal isn’t to pull a fast one but to make sure they understand the true value of your home.

Is Unlock a Legit Company?

Unlock is a totally legitimate company with real estate licenses from the states where it operates. It also has an A rating from the Better Business Bureau (BBB). 

What Percentage Does Unlock Take? 

The percentage of your home’s value that Unlock takes will depend on the terms of your specific agreement. As the client, you’ll have a say in deciding those terms. The more money you take upfront, the larger percentage of the value you’ll have to give them when you settle.