Access up to $500k with a Home Equity Agreement (HEA)

No, a HELOC or home equity line of credit is a loan that allows you to borrow against the equity you have in your home. Instead of receiving a lump sum, a HELOC provides access to a long-term revolving line of credit. You make payments and pay interest (usually a variable rate) on the amount you borrow. 

In contrast, a home equity agreement (HEA) is not a loan. Through our HEA, Unlock provides a lump sum of cash (up to $500,000) in exchange for a portion of your home’s future value. There are no monthly payments and no interest charges. You can sell your home or buy out Unlock at any time, or you can buy out Unlock in partial payments whenever you want over the 10-year term without penalty.  

Once you create an account, we’ll provide an estimate of the maximum cash available.

In general, the maximum amount of cash available from Unlock is $500,000.  The specific amount we can offer you depends on four things:

• Your home’s current value. In general, the more your home is worth, the more cash is available.
• Pre-existing housing debt. This includes all mortgages and credit lines secured by your home.  In general, the less housing debt you have, the more cash is available.
• Your credit history. A good credit track record may qualify for more cash.
• The use of the property. We can typically offer more cash when the home is your primary residence.

Note that these factors can affect each other.  For instance, an expensive home with a lot of debt may qualify for less cash than a less expensive home with no debt.

See the Unlock Product Guide for more details.

Unlock Technologies invests in most residential real estate (single family, condominiums, 2-4 unit properties and townhomes), including primary residence, second homes and rental properties.  We currently do not invest in TICs, co-ops, raw land, or any prefabricated homes such as mobile homes or manufactured housing.

No.