Same pitch, different contracts
Every HEI works the same way at the surface: the company gives you a lump sum today, records a lien, and gets repaid — original amount plus a share of your home's change in value — when you sell, refinance, buy them out, or hit the end of the term. No monthly payment, no interest rate, and credit requirements far looser than any bank product because your equity is doing the underwriting. If that structure is new to you, read our plain-English HEI guide first.
Where they genuinely differ: how long the term runs, how the share is calculated (share of full home value versus share of the change in value), whether a starting-value discount effectively raises the price, fee levels, minimum credit scores, and whether partial buyouts are allowed mid-term. Those six lines determine your real cost — the brand doesn't.
The comparison that matters
| Point | Unlock | Hometap | Unison | |
|---|---|---|---|---|
| Term length | Up to 30 years | ~10 years | ~10 years | Up to 30 years |
| Typical amounts | ~$30K–$600K | ~$30K–$500K | ~$15K–$600K | ~$30K–$500K |
| Credit floor | ~500 | ~500s | ~500s–600 | ~620 |
| Upfront fee | ~3–4% | ~4–5% | ~3–4% | ~3–4% |
| Partial buyout mid-term | Generally no | Yes | Generally no | Generally no |
| Pricing mechanics | Share of appreciation, often with a starting-value adjustment | Share of full future value | Share of full future value | Share of change in value |
Terms, fees, and availability change and vary by state and profile — treat this table as a map of the differences to verify, not a rate sheet. Always confirm current numbers in each provider's written estimate.
The honest matchmaking
Point
Long runway + low credit floorThe combination that stands out: terms up to 30 years and acceptance of credit scores around 500. If your credit is bruised and your exit timeline is genuinely unknown — which describes most people whose budgets are already stretched — the long term removes the forced-exit risk that shorter contracts carry. Amounts run roughly $30,000 to $600,000 with an upfront fee around 3–4%.
Unlock
Partial buyoutsThe distinctive feature is flexibility mid-contract: Unlock allows partial buyouts, so you can repurchase your equity in pieces as cash allows instead of settling all at once. The trade-off is the roughly 10-year term — a real countdown. If your plan is "chip away at it as my income recovers," this structure matches; if you might still be stuck in year 10, it doesn't.
Hometap
Smaller minimumsInvestments start lower than most (roughly $15,000), which fits homeowners who need a modest amount and don't want to over-extract equity. Same structural caution as Unlock: settlement expected around the 10-year mark, so your exit plan needs to fit the window. Shares calculate against full home value, so run the payoff math carefully in appreciating markets.
Unison
Long term, higher barLong terms like Point, but a meaningfully higher credit floor (around 620) and a more conventional underwrite. If your credit is decent and you're choosing an HEI for the no-payment structure rather than out of necessity, Unison belongs in your quote set — but at a 620+ score you should also price a home equity loan, which usually wins on total cost if you can carry the payment.
The five questions that expose the real price
- "What's my payoff if I exit in year 3, year 10, and at term end — assuming 0%, 3%, and 6% annual appreciation?" Every legitimate provider will produce this table. Refusal is your answer.
- "What starting home value does my contract use?" The risk-adjustment question — see above.
- "What happens if I can't exit when the term ends?" Forced sale terms, extension options, refinance requirements. Get it in writing.
- "Do home improvements I pay for count in the shared appreciation?" Some contracts let you document renovations and exclude that value. That clause can be worth a lot.
- "What are ALL the third-party costs?" Appraisal, escrow, recording — on top of the headline fee.