Unlock home equity agreement review: no monthly payments, 10-year term
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Our take
Unlock's home equity agreement (HEA) gives you cash now in exchange for a percentage of your home's value when the agreement ends, within 10 years. There are no monthly payments to Unlock, and an Annual Cost Limit caps what you can owe.
May fit you if
- Homeowners in Unlock's 26 states with at least 30% equity
- People who want cash without a monthly payment and expect to sell or refinance within 10 years
- Owners of second homes or rentals (accepted with a 550+ score)
Look elsewhere if
- You want more than 10 years before you have to settle
- You could qualify for a HELOC or home equity loan, which may cost less
We don't give star ratings yet. We'll publish our rating method first.
Key facts
Unlock Technologies, Inc. · NMLS #2657081 · Look up licensing
- Product
- Home equity agreement: cash upfront for a share of the home's value at settlement; secured by a lien Source
- Amounts
- $15,000 to $500,000 Source
- Term
- 10 years; no prepayment penalty; partial buyouts allowed Source
- Unlock's share
- An Unlock Percentage set at signing, capped at 49.99% of the home's value Source
- Annual Cost Limit
- Typically 19.9%, non-compounding; you pay the lower of the two amounts Source
- Eligibility
- At least 30% equity; home value $175,000+; credit score 500+ (primary single-family/townhome) or 550+ (condos, 2-4 units, second homes, rentals) Source
- States
- AL, AZ, CA, FL, HI, ID, IN, KY, MI, MO, MT, NV, NH, NJ, NM, NC, OH, OR, PA, SC, TN, UT, VT, VA, WI, WY Source
How it works
Unlock values your home at the start, sets the Unlock Percentage, and records a lien. You keep ownership and keep paying your mortgage, taxes, insurance and HOA.
When you sell, buy Unlock out (with a new appraisal) or reach the end of the 10-year term, you pay Unlock its percentage of the home's value then, or the Annual Cost Limit amount if that's lower.
If your home loses value, the settlement is based on the lower value, except for an adjustment if upkeep is neglected (typically once repairs reach $10,000).
Costs and fees
We don't list rates because they change daily. Your rate and costs depend on your credit, home value, location and the amount you borrow.
What Unlock says
These are the company's own claims. We haven't verified them.
- Speed
- Typically 30 to 60 days from application to closing Source
Things to check before you apply
- Ten years can pass quickly. Have a plan for paying the settlement, such as selling, refinancing or savings.
- The Annual Cost Limit of up to 19.9% a year can be expensive if your home doesn't appreciate much. Ask for a written example at 0%, 3% and 5% appreciation.
Sources and method
Every fact on this page comes from Unlock's own published pages, checked on October 19, 2026. Terms change, so confirm them with the company. Licensing can be checked on NMLS Consumer Access. Spot an error? Tell us. See our editorial standards.