At a glance
| How you repay | Share of your home's future value, set with an exchange rate |
|---|---|
| Typical cost | 15.9% a year |
| Cost cap | 19.9% a year |
| Term | 10 years |
See every Unlock termMultiplier, cash available, limits, fees, and credit
| What they call it | Home Equity Agreement (HEA) |
|---|---|
| How you repay | Share of your home's future value, set with an exchange rate |
| Multiplier | 2× of total value |
| Cash available | $15K to $500K |
| Max share of home value | Not published |
| Equity you must keep | 30% after funding |
| Fee | Up to 4.9% Exchange rate and cap from a third-party review |
| Cost cap | 19.9% a year |
| Term | 10 years |
| Minimum credit score | 500 |
| Shares losses if value falls | Yes, you owe a share of a lower value |
How Unlock's agreement works
Unlock expresses your investment as a percentage of your home's starting value, then multiplies it by an exchange rate, often around 2.0, to set its share of your home's future value.
Its annual return is capped at 19.9%, according to LendEDU.
The agreement runs 10 years. Unlock requires at least 30% equity and a home worth $175,000 or more, and accepts credit scores from 500.
Unlock allows partial buyouts with its approval, so you can shrink its stake over time instead of settling all at once.
What Unlock costs
In our standard example ($100,000 against a $750,000 home with a $300,000 mortgage, 4% growth, settled after 7 years), you would net $93,600 after fees and settle for $263,186: an effective cost of 15.9% a year.
These numbers use a typical example. Your offer's numbers will differ.
See the cost at every growth rate and hold periodEffective annual cost from 0% to 8% growth, settled after 3 to 10 years
Effective annual cost for $100,000 against a $750,000 home with a $300,000 mortgage. Rows are yearly home appreciation; columns are when you settle.
| Growth | 3 years | 5 years | 7 years | 10 years |
|---|---|---|---|---|
| 0% a year | 22.6% | 16.4% | 11.5% | 7.9% |
| 2% a year | 22.6% | 18.7% | 13.7% | 10.0% |
| 4% a year | 22.6% | 21.1% | 15.9% | 12.2% |
| 6% a year | 22.6% | 21.5% | 18.1% | 14.4% |
| 8% a year | 22.6% | 21.5% | 20.4% | 16.5% |
Unlock's agreement must be settled within 10 years, so it isn't eligible for longer holds.
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%.
Pros and cons
Pros
- Accepts credit scores from 500
- Partial buyouts let you reduce the stake over time
- Return capped at 19.9% a year
Cons
- The highest modeled cost of the four in our standard scenario
- Origination fee up to 4.9%
- 10-year term
- Exchange rate and cap come from third-party reviews, not Unlock's own pages
What Unlock customers say
CFPB complaints: 26 filed against Unlock in the federal complaint database (23 since 2025). Most common: applying for a mortgage or refinancing an existing mortgage (8); closing on a mortgage (7); trouble during payment process (5). Unlock answered 26 of 26 on time.
Customer reviews: read what Unlock customers say on Trustpilot and BBB.
How to read reviews of any HEI company. Star ratings tend to reflect the application and funding experience. The costly part comes years later, at settlement: across the six providers, "trouble during the payment process" accounts for 37 of 131 CFPB complaints, and the CFPB has reported consumers surprised by what they had to repay. Read the oldest reviews and the complaints, not just the star rating.
Who Unlock fits
Worth a look if: Your credit is limited and you want the option to buy back gradually.
Look elsewhere if: Lowest cost is your top priority, or you want more than 10 years.
Where Unlock is available
26 states, according to its own availability page. Availability can vary by county.
Alabama, Arizona, California, Florida, Hawaii, Idaho, Indiana, Kentucky, Michigan, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Vermont, Virginia, Wisconsin, Wyoming
Source: Unlock FAQs.
Regulatory record
State enforcement actions and court cases involving Unlock, confirmed from primary sources.
- Minnesota attorney general settlement with Unlock Settled Announced August 7, 2026. The attorney general's office investigated Unlock for entering into mortgage loans without complying with Minnesota law. Unlock denied the allegations but settled.
- Colorado attorney general settlement with Unlock Settled Announced June 24, 2026. The attorney general determined that Unlock's home equity agreements are consumer credit transactions under Colorado law.
Allegations in pending cases are not findings.
Alternatives to Unlock
Effective annual cost for $100,000 against a $750,000 home with a $300,000 mortgage. Highlighted: cheaper than Unlock in that scenario.
| Provider | Typical: 4% growth, 7 years | Flat prices: 0%, 7 years | Fast growth: 8%, 7 years | Early sale: 4%, 3 years |
|---|---|---|---|---|
| Unlock | 15.9% | 11.5% | 20.4% | 22.6% |
| CHEIFS | 13.7% | 13.0% | 13.7% | 14.7% |
| Hometap | 14.1% | 9.7% | 18.5% | 22.7% |
| Point | 14.3% | 8.3% | 18.9% | 20.2% |
| Unison | 14.7% | 3.5% | 23.1% | 21.6% |
| Splitero | 15.9% | 11.5% | 20.4% | 22.3% |
Computed from each provider's published terms.
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%.
In the typical case, the lowest-cost alternative is CHEIFS at 13.7% a year, versus 15.9% for Unlock. If your home grows fast or you sell early, the ranking can change.
When to pick an alternative instead
- CHEIFS: costs less in the typical case (13.7% vs 15.9% a year); costs less if your home grows fast (13.7% vs 20.4% a year); costs less if you sell within 3 years (14.7% vs 22.6% a year); gives you more time to settle (no end date vs 10); funds larger amounts (up to $2M vs $500K). Unlock vs CHEIFS
- Hometap: costs less in the typical case (14.1% vs 15.9% a year); costs less if prices stay flat (9.7% vs 11.5% a year); costs less if your home grows fast (18.5% vs 20.4% a year); allows more leverage (75% vs 70%); serves more states (27 vs 26); funds larger amounts (up to $600K vs $500K). Unlock vs Hometap
- Point: costs less in the typical case (14.3% vs 15.9% a year); costs less if prices stay flat (8.3% vs 11.5% a year); costs less if your home grows fast (18.9% vs 20.4% a year); costs less if you sell within 3 years (20.2% vs 22.6% a year); gives you more time to settle (30 years vs 10); allows more leverage (an assumed 80% vs 70%); serves more states (32 vs 26); funds larger amounts (up to $600K vs $500K). Unlock vs Point
- Unison: costs less in the typical case (14.7% vs 15.9% a year); costs less if prices stay flat (3.5% vs 11.5% a year); costs less if you sell within 3 years (21.6% vs 22.6% a year); gives you more time to settle (30 years vs 10); allows more leverage (an assumed 80% vs 70%). Unlock vs Unison
- Splitero: costs less if you sell within 3 years (22.3% vs 22.6% a year); gives you more time to settle (30 years vs 10); allows more leverage (an assumed 80% vs 70%); funds larger amounts (up to $600K vs $500K). Unlock vs Splitero
A HELOC, home equity loan, cash-out refinance, or reverse mortgage can also cost less if you qualify. See every option compared.
More on Unlock: Is Unlock legit?
Sources
Unlock: how it works · LendEDU: provider comparison · LendEDU: Unlock review
Offer reviews
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