Hometap vs. Unison
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Quick Verdict
Choose Hometap if your property is a manufactured home, you need less than $30,000, or your credit score is below 620. Choose Unison if you want a longer term (up to 30 years) or you'd rather avoid a hard credit pull.
Hometap and Unison aren't really competing for the same homeowner in most cases because they're built around different term lengths (10 years vs. 30), which is usually the bigger decision than which specific provider you pick. See Choosing a Term Length if you haven't settled that question yet. If you have, the rest of this page compares them directly.
See Your Own Numbers for Both
Enter your home details to see what Hometap and Unison would each actually cost you — plus Point, Unlock, and Splitero — side by side.
Side-by-Side Specs
| Hometap | Unison | |
|---|---|---|
| Contract term | 10 yrs | 30 yrs |
| Min Funding | $15,000 | $30,000 |
| Max Funding | $600,000 | $500,000 |
| Max Proceeds | 27% | 15% |
| Min credit score | 585 | 620 |
| Max Senior LTV | 75% | 70% |
| Max CLTV | 82.5% | 90% (unconf.) |
| Origination fee | 4.5% (capped) | 3.9% |
| Renovation adjustment | Offered | Offered |
| Manufactured homes | Eligible | Not eligible |
| LLC / trust ownership | Not permitted | Not permitted |
| Hard credit pull | Unsure | No |
| Repayment on death | Not triggered | Triggered |
| State availability | 21 states | 24 states + D.C. |
Term Length: the Real Decision Here
Hometap's 10-year term and Unison's 30-year term are designed to serve different customers. For most homeowners, selecting the appropriate term length is the most important decision in selecting the right HEI provider. If you're still working out what term length fits you, see Choosing a Term Length.
Hometap's 10-Year Term Fits If
- You already have a clear exit plan — a likely sale, refinance, or payoff within 10 years
- You're comfortable knowing that if you haven't settled by year 10, a sale or refinance may be required
Unison's 30-Year Term Fits If
- You don't have a fixed date in mind for selling or refinancing
- You want your repayment deadline to be decades away, not years away
Cost Comparison
HEIs don't have an interest rate, so the clearest way to compare cost is the actual dollar amount you'd owe at settlement. The table below shows both providers' payoffs under the exact same scenario, so the numbers are directly comparable. Both are estimates based on each provider's published formulas, not guaranteed payoff amounts.
Scenario assumptions
- $500K home
- 700 credit score
- $50K requested
- 10% LTV
- 3.5% annual home price growth
| Exit Year | Home Value | Hometap's Share | Unison's Share |
|---|---|---|---|
| Year 1 | $517,500 | $60,076 | $60,000 |
| Year 3 | $554,359 | $86,729 | $81,744 |
| Year 5 | $593,843 | $97,984 | $97,537 |
| Year 7 | $636,140 | $114,505 | $114,456 |
| Year 10 | $705,299 | $126,954 | $142,120 |
| Year 20 | $994,894 | 10-yr max term | $257,958 |
| Year 30 | $1,403,397 | 10-yr max term | $421,359 |
Observations
- Unison is cheaper through year 3.
- The two run close from year 5 through year 7.
- Hometap pulls ahead by year 10 — the last year its term allows.
Where Each One Leads
Where Hometap Leads
- Access more of your home's value. You can get up to 27% of your home's value in cash with Hometap, well above Unison's 15% cap.
- Accepts manufactured homes. Unison does not.
- Open to investment and second homes. Unison's eligibility is limited to primary residences, with limited exceptions it hasn't fully detailed.
- Death does not trigger repayment. If you pass away, your heirs can hold the agreement until it would normally settle — Unison requires repayment within 180 days.
- No loss-sharing restrictions. Unison restricts loss sharing for the first 36 months and never shares losses if you exit through a buyout — Hometap doesn't have either restriction.
Where Unison Leads
- Longer repayment window. Up to 30 years vs. Hometap's 10, with no forced decision point for two extra decades.
- No hard credit pull. Applying doesn't affect your credit score — Hometap's policy here is unconfirmed.
Which Should You Choose?
Choose Hometap If
- Your property is a manufactured home
- You're requesting less than $30,000, or need more than Unison's 15% proceeds cap
- Your property is an investment property or second home
- You want peace of mind that your heirs won't be forced to settle quickly if you pass away
Choose Unison If
- You want the flexibility of a 30-year term with no near-term deadline
- You'd rather avoid any hard credit pull during the application process
In addition to the factors above, cost matters — see the cost comparison above, or run your own numbers to see what each would actually cost you.
Frequently Asked Questions
Is Hometap or Unison better?
Neither is categorically better — Hometap's term is a fixed 10 years, while Unison offers up to 30. Hometap accepts manufactured homes and investment or second homes, has a lower credit score minimum, and offers a much higher proceeds percentage (27% vs. Unison's 15%). Unison uses a soft credit pull only, but restricts loss sharing and requires repayment within 180 days of your death. In our scenario, Unison was cheaper through year 3, the two ran close through year 7, and Hometap pulled ahead by year 10 — run your own numbers to see how it lands for you.
Which has a lower credit score requirement, Hometap or Unison?
Hometap's minimum is 585; Unison's is 620. Hometap is more accessible for borrowers with lower credit scores.
Does either Hometap or Unison require a hard credit pull?
Unison uses a soft pull only, so applying doesn't affect your credit score. Whether Hometap does the same is unconfirmed — check directly with Hometap if this matters to you.
Can I use either Hometap or Unison for a home renovation?
Both offer a renovation adjustment, but the terms differ. Hometap's has a $25,000 value-add floor — your project, or projects together, need to add at least that much in appraised value to qualify — with no waiting period. Unison's isn't available until three years into the agreement, and requires advance notice, licensed contractors, and documentation to qualify.
What happens to my Hometap or Unison agreement if I pass away?
With Hometap, your heirs aren't forced to settle early — they can hold the agreement until it would normally come due. With Unison, your death triggers the agreement, and your heirs have 180 days to settle it.
Does Hometap or Unison cost less?
It depends on how long you hold the agreement. In the representative scenario illustrated above, Unison is cheaper through year 3, the two run close from year 5 through year 7, and Hometap pulls ahead by year 10, the last year its term allows. Run your own numbers for an exact comparison.
Get Real Offers From Both
Your actual numbers depend on your home's appraised value and your own details. The surest way to compare is a real offer from each.
Or compare all 5 in the cost calculator →