Point vs. Unlock
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Quick Verdict
Choose Point if you want the longest possible term (up to 30 years). Choose Unlock if you need less than $30,000, or want a renovation adjustment.
Point and Unlock are built around different term lengths — 30 years vs. 10 — which usually matters more than any other difference between them. If you haven't decided between term lengths yet, see Choosing a Term Length. If you have, the rest of this page compares Point and Unlock directly.
See Your Own Numbers for Both
Enter your home details to see what Point and Unlock would each actually cost you — plus Hometap, Unison, and Splitero — side by side.
Side-by-Side Specs
| Point | Unlock | |
|---|---|---|
| Contract term | 30 yrs | 10 yrs |
| Min Funding | $30,000 | $15,000 |
| Max Funding | $600,000 | $500,000 |
| Min credit score | 500 | 500 |
| Max Senior LTV | 80% | 75% (unconf.) |
| Max CLTV | 80% | 85% (unconf.) |
| Origination fee | 3.9% | 4.9% |
| Renovation adjustment | Not offered | Offered |
| Manufactured homes | Not eligible | Not eligible |
| LLC / trust ownership | Not permitted | LLC not permitted; trust unconfirmed |
| Hard credit pull | Yes | No |
| Repayment on death | Not triggered | Triggered |
| State availability | 27 states + D.C. | 26 states |
Term Length: the Real Decision Here
Point's 30-year term and Unlock's 10-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.
Point'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
Unlock'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
Cost Comparison
HEIs and HEAs 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 | Point's Share | Unlock's Share |
|---|---|---|---|
| Year 1 | $517,500 | $59,781 | $59,950 |
| Year 3 | $554,359 | $85,457 | $86,184 |
| Year 5 | $593,843 | $122,161 | $106,892 |
| Year 7 | $636,140 | $137,307 | $114,505 |
| Year 10 | $705,299 | $159,576 | $126,954 |
| Year 20 | $994,894 | $252,826 | 10-yr max term |
| Year 30 | $1,403,397 | $384,364 | 10-yr max term |
Observations
- Point and Unlock cost about the same through year 3.
- Unlock becomes noticeably cheaper starting around year 5, and stays cheaper through year 10 — the last year its term allows.
- Point's pricing is more individualized than Unlock's (it factors in your credit score and existing mortgage balance), so your actual quote could differ more from this example than Unlock's would.
Where Each One Leads
Where Point Leads
- Longer repayment window. Up to 30 years vs. Unlock's 10, with no forced decision point for two extra decades.
- Higher funding ceiling. Up to $600,000 with Point, vs. Unlock's $500,000 cap.
- Death does not trigger repayment. If you pass away, your heirs can hold the agreement until it would normally settle — Unlock requires repayment within 180 days.
Where Unlock Leads
- Pay down what you owe over time. Unlock is the only provider we track that lets you pay back a portion of what you owe before full settlement, instead of one lump sum at the end; Point requires a single lump-sum payoff.
- Lower minimum request. $15,000 with Unlock, vs. Point's $30,000 — better fit for smaller requests.
- No hard credit pull. Applying doesn't affect your credit score; Point requires a hard pull.
- Renovation adjustment. Eligible home improvement value is excluded from Unlock's appreciation share; Point has no equivalent.
Which Should You Choose?
Choose Point If
- You want the flexibility of a 30-year term with no near-term deadline
- You want the higher funding ceiling of the two ($600,000 vs. Unlock's $500,000)
- You want peace of mind that your heirs won't be forced to settle quickly if you pass away
Choose Unlock If
- You already plan to settle within 10 years
- You want the option to pay down what you owe gradually instead of one lump sum — Unlock is the only provider we track that allows this
- You'd rather avoid any hard credit pull during the application process
- You're planning eligible home improvements you'd rather not share appreciation on
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 Point or Unlock better?
Neither is categorically better — they're built around different term lengths (30 years vs. 10). Point offers a longer runway. Unlock uses a soft credit pull only and offers a renovation adjustment. In our scenario, the two cost about the same through year 3, and Unlock became cheaper after that — run your own numbers to see how it lands for you.
Does either Point or Unlock require a hard credit pull?
Point does; Unlock uses a soft pull only, so applying doesn't affect your credit score.
Which has a lower minimum funding amount, Point or Unlock?
Unlock's minimum is $15,000; Point's is $30,000. Unlock is the better fit for smaller requests.
Can I use either Point or Unlock for a home renovation?
You can use funds from either for anything, including renovations, but only Unlock excludes eligible renovation value from its appreciation share. With Point, the full appreciated value — including any gain from your own renovations — counts toward Point's share. Unlock's adjustment has real requirements, though: your project needs to follow local building ordinances and get any required permits, and projects that together add less than $10,000 in value don't qualify at all.
Does Point or Unlock cost less?
It depends on how long you hold the agreement and, especially for Point, on your own credit profile. In the representative scenario illustrated above, Point and Unlock cost about the same through year 3, but Unlock becomes cheaper starting around year 5 and stays that way through year 10, the last year its term allows. Run your own numbers for an exact comparison.
What happens to my Point or Unlock agreement if I pass away?
With Point, your heirs aren't forced to settle early — they can hold the agreement until it would normally come due. With Unlock, your death triggers the agreement, and your heirs have 180 days to settle it.
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 →