Unlock provides U.S. homeowners with a Home Equity Agreement that delivers a lump‑sum cash advance of $15 K to $500 K in exchange for a share of future property appreciation, eliminating monthly loan payments and interest. The agreement preserves the existing mortgage rate, requires no hard credit pull, and can be settled early without penalty, allowing funds to be used for renovations, education, business ventures, or debt reduction.
Funding
$459.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
DAFounders
Product
Problem
Homeowners often lack affordable ways to tap into the equity built in their property without taking on additional monthly loan payments, refinancing, or meeting strict income and age requirements.
Solution
Unlock offers a Home Equity Agreement (HEA) that provides homeowners with a lump‑sum cash advance ranging from $15 K to $500 K in exchange for a share of future home appreciation. The agreement requires no monthly payments, preserves the existing mortgage rate, and can be settled early without penalty. Funding is typically delivered within 30–60 days, and the application process does not affect the borrower’s credit score. By structuring the advance as a shared‑appreciation contract rather than a traditional loan, Unlock enables flexible use of funds for renovations, education, business ventures, or other personal needs while avoiding the debt‑service burden of conventional HELOCs or home‑equity loans.
Target Audience
Primary customers are U.S. homeowners with at least 20 % equity who seek flexible financing for personal projects, debt reduction, or business growth without adding monthly loan obligations.
Features
- Cash advance based on a percentage of home equity, payable from future sale or refinance proceeds
- No monthly payments or interest charges; repayment tied to property appreciation
- Early settlement allowed without prepayment penalties
- Application does not generate a hard credit inquiry and requires only a minimum 500 credit score
- Funds can be used for any purpose, including home improvement, education, or business startup costs
- Available in 25 U.S. states with no income or age restrictions
- Funding delivered within 30–60 days after agreement execution