The short answer
In a typical case ($100,000 against a $750,000 home with a $300,000 mortgage, 4% appreciation, settled after 7 years), the providers we can model cost 13.7% to 15.9% a year, compared with about 8.5% for a HELOC. CHEIFS is lowest in that example, but the ranking changes with your home's growth and how long you hold.
The quick comparison
Who comes out ahead, by situation. Based on published terms and our standard example.
CHEIFS
13.7% a year at 4% growth over 7 years, in our model.
If your home doesn't appreciateUnison
3.5% a year at 0% growth over 7 years.
If your home appreciates fastCHEIFS
13.7% a year at 8% growth over 7 years.
If you might settle earlyCHEIFS
14.7% a year if you settle after 3 years.
Longest time to settlePoint, Unison, Splitero
Up to 30 years before you have to settle. Point and Unison take a share of the gain; Splitero takes a share of total value.
Lowest credit minimumPoint, Unlock, Splitero
Published minimum credit score of 500. Point takes a share of the gain; Unlock and Splitero take a share of total value.
Most cash relative to home valueHometap
Up to 27% of your home's value.
Lowest published cost capCHEIFS
12.99% or 14.99% a year.
These use a typical example. Your offer's numbers will differ.
See the full comparisonMultipliers, fees, caps, terms, and limits for all six providers
Typical cost is the effective annual cost in the example above. Tap a provider for the full review.
| Provider | How you repay | Multiplier | Typical cost | Cash | Max of home value | Equity you keep | Fee | Cost cap | Term | Min credit |
|---|---|---|---|---|---|---|---|---|---|---|
| Point | Share of gain (from a start value 27% below appraisal) | 2.4×of the gain | 14.3% a year | $30K to $600K | Not published | More than 20% after funding‡ | Up to 3.9% (minimum $2,000) | 18% a year | Up to 30 years | 500 |
| Hometap | Share of total value | 1.65× or 1.8×1.65× if settled by year 5; of total value | 14.1% a year | $15K to $600K | 27% | 25% after funding | Up to 4.5%† | 18.5% a year, compounded monthly | 10 years | 585 |
| Unlock | Share of total value | 2×of total value | 15.9% a year | $15K to $500K | Not published | 30% after funding | Up to 4.9%† | 19.9% a year | 10 years | 500 |
| Unison | Share of change in value, up or down | 4×of the gain | 14.7% a year | Up to $500K | 15% | More than 20% after funding‡ | Up to 3.9% | None published | Up to 30 years | Not published |
| Splitero | Share of total value | 2×of total value | 15.9% a year | Up to $600K | 25% | More than 20% after funding‡ | 4.99% | 17.99% a year, compounded monthly | 10 to 30 years (matches your mortgage) | 500 |
| CHEIFS | Share of total value | 2.25×of total value | 13.7% a year | $70K to $2M | Not published | 35% or 50% after funding, by program | 1.99% or 2.99%, by program | 12.99% a year or 14.99%, by program | No scheduled end date | 680 |
Tap "How you repay" for how each structure is calculated. The multiplier is the provider's share at settlement divided by the share of your home's value you received. † From a third-party review, not the provider's own site. ‡ Not published; we assume mortgage plus cash out must stay under 80% of home value.
Yearly cost is measured on the cash you actually receive, after the provider's fee and about $1,500 of closing costs. Measured on the full investment instead, it's lower: in our standard example ($100,000 on a $750,000 home, 4% yearly growth, 7 years), Hometap is 13.1% a year instead of 14.1%.
Share of total value vs share of gain
Every provider uses one of two structures. Both start from the same idea: the provider's share is a multiplier times the share of your home's value you received.
Multipliers aren't comparable across the two structures: 2.4× of the gain (Point) and 2× of total value (Unlock) cost 14.3% and 15.9% a year in this example. Most providers also cap what you repay at a yearly rate; you pay the share or the cap amount, whichever is less. Compare the effective annual cost, not the multiplier.
How costs change with your home's growth
Effective annual cost, settling after 7 years. Change the numbers to see yours. The cheapest in each column is highlighted.
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| Provider | 0% a year | 2% a year | 4% a year | 6% a year | 8% a year |
|---|---|---|---|---|---|
| Point | 8.3% | 11.3% | 14.3% | 17.1% | 18.9%* |
| Hometap | 9.7% | 11.9% | 14.1% | 16.3% | 18.5% |
| Unlock | 11.5% | 13.7% | 15.9% | 18.1% | 20.4% |
| Unison | 3.5% | 9.6% | 14.7% | 19.1% | 23.1% |
| Splitero | 11.5% | 13.7% | 15.9% | 18.2% | 20.4% |
| CHEIFS | 13.0% | 13.7%* | 13.7%* | 13.7%* | 13.7%* |
* The provider's cost cap sets the price.
Yearly cost is measured on the cash you actually receive, after the provider's fee and about $1,500 of closing costs. Measured on the full investment instead, it's lower: in our standard example ($100,000 on a $750,000 home, 4% yearly growth, 7 years), Hometap is 13.1% a year instead of 14.1%.
The cheapest provider changes as appreciation rises, which is why a single "best" list can mislead. Assumes $1,500 of third-party closing costs; limits that depend on your mortgage aren't checked here.
How costs change over time
Effective annual cost by when you settle, at 3% home growth a year. Change the numbers to see yours.
The numbers you type stay in your browser. We don't send them. These tables don't ask for an email or a phone number, and we won't call or text. Privacy policy.
| Provider | 3 years | 5 years | 10 years | 15 years | 30 years | 40 years |
|---|---|---|---|---|---|---|
| Point | 20.2%* | 16.5% | 10.1% | 8.0% | 5.8% | — |
| Hometap | 22.7%* | 15.3% | 9.9% | — | — | — |
| Unlock | 22.6%* | 19.9% | 11.1% | — | — | — |
| Unison | 18.4% | 14.2% | 10.5% | 9.0% | 6.9% | — |
| Splitero | 22.3%* | 19.9% | 11.1% | 8.4% | 5.6% | — |
| CHEIFS | 14.7%* | 14.0%* | 12.2% | 9.1% | 6.0% | 5.2% |
* The provider's cost cap sets the price. — Not eligible: must be settled sooner (Hometap and Unlock have 10-year terms; Point, Unison, and Splitero, 30 years).
Yearly cost is measured on the cash you actually receive, after the provider's fee and about $1,500 of closing costs. Measured on the full investment instead, it's lower: in our standard example ($100,000 on a $750,000 home, 4% yearly growth, 7 years), Hometap is 13.1% a year instead of 14.1%.
The yearly rate falls the longer you hold, because upfront fees and the provider's share are spread over more years, but the dollars you owe keep growing. Same assumptions as the table above.
Head-to-head
Where each pair crosses over.
Point vs Hometap
Point is cheaper below about 3.6% annual growth, Hometap between 3.6% and 8.5%, and Point again above 8.5%, where its cost cap takes over (settling after 7 years).
Compare →Point vs Unlock
Point is cheaper at every growth rate we tested (-3% to 10% a year) over 7 years.
Compare →Point vs Unison
Unison is cheaper below about 3.6% annual growth; Point is cheaper above it (settling after 7 years).
Compare →Point vs Splitero
Point is cheaper at every growth rate we tested (-3% to 10% a year) over 7 years.
Compare →Point vs CHEIFS
Point is cheaper below about 3.7% annual growth; CHEIFS is cheaper above it (settling after 7 years).
Compare →Hometap vs Unlock
Hometap is cheaper at every growth rate we tested (-3% to 10% a year) over 7 years.
Compare →Hometap vs Unison
Unison is cheaper below about 3.6% annual growth; Hometap is cheaper above it (settling after 7 years).
Compare →Hometap vs Splitero
Hometap is cheaper at every growth rate we tested (-3% to 10% a year) over 7 years.
Compare →Hometap vs CHEIFS
Hometap is cheaper below about 3.7% annual growth; CHEIFS is cheaper above it (settling after 7 years).
Compare →Unlock vs Unison
Unison is cheaper below about 5.1% annual growth; Unlock is cheaper above it (settling after 7 years).
Compare →Unlock vs Splitero
Unlock is cheaper below about 8.3% annual growth; Splitero is cheaper above it (settling after 7 years).
Compare →Unlock vs CHEIFS
Unlock is cheaper below about 2.1% annual growth; CHEIFS is cheaper above it (settling after 7 years).
Compare →Unison vs Splitero
Unison is cheaper below about 5.2% annual growth; Splitero is cheaper above it (settling after 7 years).
Compare →Unison vs CHEIFS
Unison is cheaper below about 3.7% annual growth; CHEIFS is cheaper above it (settling after 7 years).
Compare →Splitero vs CHEIFS
Splitero is cheaper below about 2.1% annual growth; CHEIFS is cheaper above it (settling after 7 years).
Compare →HEI vs other ways to tap equity
How to choose
- Decide how long you'll hold it. Some agreements must be settled within 10 years; others allow 30. Settling within a few years is often expensive because caps and discounted starting values front-load cost.
- Be honest about appreciation. An HEI costs more the faster your home grows. Check a flat case and a strong-growth case.
- Check eligibility. Equity requirements, maximum amounts, and credit minimums rule some providers out before price matters.
- Compare on one number. Convert every quote to an effective annual cost, then weigh it against a HELOC if one is available to you.
Frequently asked questions
Which home equity investment company is cheapest?
It depends on how much your home appreciates and when you settle. In our standard example ($100,000 against a $750,000 home with a $300,000 mortgage, 4% growth, 7 years), CHEIFS is lowest at 13.7% a year, but Unison is cheapest if your home doesn't appreciate and CHEIFS if you settle within 3 years. Compare on your own numbers.
What's the difference between an HEI and an HEA?
Mostly the name. Providers call the same basic product a home equity investment (HEI), home equity agreement (HEA), or shared equity agreement. The differences that matter are in the structure, such as share of gain vs share of value. See the full comparison.
Is an HEI cheaper than a HELOC?
Usually not, if you qualify for a HELOC. In our standard example, the providers we can model cost 13.7% to 15.9% a year versus about 8.5% for a HELOC. An HEI makes sense when a monthly payment isn't workable or a HELOC isn't available to you.
How do you get these numbers?
We apply each provider's published terms to the same example and convert the result to an effective annual cost.
How does HEI Compare rank providers?
By effective annual cost, computed from each provider's published terms with the same model on every page. We don't sell home equity investments.
Offer reviews
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