5 HEI Providers, Compared

Founded 2015 · Palo Alto, CA Point is one of the longest-running HEI providers and offers the most borrower-friendly settlement window at 30 years. They use a share-of-appreciation pricing model with a risk-adjusted starting value — meaning they discount your home’s appraised value by roughly 25%–30% and only share in gains above that baseline. Point includes a Homeowner Protection Cap that limits how much you’ll ever repay, regardless of appreciation. They also share in depreciation — if your home loses value, you could owe less than you received. No income or employment verification is required. Point has also funded over 20,000 homeowners and offers HEIs on investment properties, not just primary residences. One limitation: repayment must be made as a single lump sum. No partial buybacks are available. The $30,000 minimum investment is also higher than some competitors. On availability: Point operates in 26 states plus DC — the widest HEI footprint in this comparison, including California.

Founded 2017 · Boston, MA Hometap uses a share-of-home-value model with a tiered multiplier that increases the longer you hold the investment. For example, a homeowner who accesses 10% of their equity would see a Hometap Share of about 15% of the home’s total value in years 0–3, scaling up to roughly double the investment percentage by year 7–10. Hometap is widely regarded as one of the more transparent HEI providers, with clear scenario-based examples on their website showing outcomes in rising, flat, and declining markets. They share in downside risk — if your home loses value, you could owe less. They also offer a renovation adjustment of up to $25,000 if you can document qualifying improvements within 90 days of completion. The 10-year term is significantly shorter than Point’s or Unison’s, which creates more urgency around settlement timing. Hometap is also available in only 16 states — the smallest footprint among the larger providers in this group — so check eligibility before anything else.

Founded 2020 · Tempe, AZ Unlock’s standout feature is partial buybacks — you can repay your agreement in smaller increments over the 10-year term instead of a single lump sum. This is unique among major HEI providers and gives homeowners more control over their exit strategy. Unlock also includes an Annualized Cost Limit (ACL) that caps their maximum return at 19.9% per year on their investment, providing some protection in rapidly appreciating markets. They recognize eligible home improvements and adjust the ending value accordingly. The tradeoff is a higher origination fee (4.9%) and a relatively short 10-year term. Unlock also requires at least 30% equity and has stricter requirements around recent credit events — no bankruptcies, foreclosures, or short sales within the previous five years.

Founded 2004 · San Francisco, CA Unison is the oldest company in this space, operating since 2004. Their Equity Sharing Agreement uses a “4× rule” — if they invest 10% of your home’s value, they receive 40% of the future change in value. They apply a 5% risk adjustment to the appraised value to establish the baseline. Unison shares in both appreciation and depreciation after the first three years. During years 0–3, they don’t share in losses (and their upside is also capped during this period). They also offer a capital improvement adjustment after three years for qualifying renovations. The higher credit score minimum (620) makes Unison less accessible than competitors like Point or Unlock. They also primarily invest in owner-occupied properties. Unison additionally offers an Equity Sharing Home Loan — a separate product with monthly payments and shared appreciation — but that operates more like a traditional second mortgage.

Founded 2021 · California Splitero is one of the newer entrants in the HEI market, having funded over 3,000 contracts totaling more than $250 million since launch. Their approval process is among the fastest — pre-approval decisions can come in one to two business days, with full funding often within two weeks. Their term length is flexible: up to 30 years, or matched to the maturity of your existing first mortgage (whichever comes first, with a minimum of 10 years). Splitero includes a Safety Cap that limits the maximum amount payable if your home appreciates significantly. They also recognize eligible home improvements. The origination fee of 4.99% is the highest among these five providers. Splitero is also available in only 14 states, the smallest footprint in this comparison. No partial buybacks are offered — settlement must be a lump sum.