The short answer
In our standard example ($100,000 against a $750,000 home with a $300,000 mortgage, 4% growth, settled after 7 years), CHEIFS costs 13.7% a year versus 15.9% for Unlock.
Unlock is cheaper below about 2.1% annual growth; CHEIFS is cheaper above it (settling after 7 years).
Settle within 3 years and CHEIFS is cheaper; hold for 10 and Unlock is.
Side by side
| Unlock | CHEIFS | |
|---|---|---|
| What they call it | Home Equity Agreement (HEA) | Home equity investment agreement |
| How you repay | Share of your home's future value, set with an exchange rate | Share of your home's future value, up to 2.25× the share you received |
| Multiplier | 2× of total value | 2.25× of total value |
| Cash available | $15K to $500K | $70K to $2M |
| Max share of home value | Not published | Not published |
| Equity you must keep | 30% after funding | 35% or 50% after funding, by program |
| Fee | Up to 4.9% Exchange rate and cap from a third-party review | 1.99% or 2.99%, by program |
| Cost cap | 19.9% a year | 12.99% a year or 14.99%, by program |
| Term | 10 years | No scheduled end date |
| Minimum credit score | 500 | 680 |
| Shares losses if value falls | Yes, you owe a share of a lower value | Yes, you owe a share of a lower value |
Full reviews: Unlock · CHEIFS. Sources for every term.
Cost at different growth rates and timelines
Effective annual cost for $100,000 against a $750,000 home with a $300,000 mortgage. The cheaper of the two is highlighted.
| Growth | 3 years | 7 years | 10 years | |||
|---|---|---|---|---|---|---|
| Unlock | CHEIFS | Unlock | CHEIFS | Unlock | CHEIFS | |
| 0% a year | 22.6% | 14.7% | 11.5% | 13.0% | 7.9% | 8.9% |
| 2% a year | 22.6% | 14.7% | 13.7% | 13.7% | 10.0% | 11.1% |
| 4% a year | 22.6% | 14.7% | 15.9% | 13.7% | 12.2% | 13.3% |
| 6% a year | 22.6% | 14.7% | 18.1% | 13.7% | 14.4% | 13.5% |
| 8% a year | 22.6% | 14.7% | 20.4% | 13.7% | 16.5% | 13.5% |
Ten-year agreements are shown at year 10 when you'd hold longer. Open this example in the calculator, or see every provider on one chart in the 2026 cost study.
Key differences
- How you repay: Unlock: share of your home's future value, set with an exchange rate. CHEIFS: share of your home's future value, up to 2.25× the share you received.
- Time to settle: Unlock 10 years; CHEIFS no scheduled end date.
- Cost cap: Unlock 19.9% a year; CHEIFS 12.99% a year or 14.99%, by program.
- Credit: Unlock minimum 500; CHEIFS minimum 680.
Which fits you
- Your home may not appreciate much: Unlock (11.5% vs 13.0% at 0% over 7 years).
- You expect strong growth: CHEIFS (13.7% vs 20.4% at 8% over 7 years).
- You might settle within 3 years: CHEIFS (14.7% vs 22.6%).
- You need more than 10 years: Unlock, which allows up to 10 years.
Questions
Is Unlock or CHEIFS cheaper?
In our standard example ($100,000 against a $750,000 home with a $300,000 mortgage, 4% growth, 7 years), CHEIFS costs 13.7% a year versus 15.9% for Unlock. Unlock is cheaper below about 2.1% annual growth; CHEIFS is cheaper above it (settling after 7 years).
Which is better if I settle early, Unlock or CHEIFS?
Settling after 3 years at 4% growth, CHEIFS costs 14.7% a year versus 22.6%.
More comparisons
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Compare →Hometap vs CHEIFS
Compare →Unlock vs Unison
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Compare →Unison vs CHEIFS
Compare →Splitero vs CHEIFS
Compare →Run your own numbers
Every figure here uses a standard example. The calculator runs your home, your mortgage, and your assumptions through every provider at once.
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