Unison Reviews
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About Unison
Founded in 2004, Unison offers equity sharing agreements (ESAs) to homeowners who wish to cash in on up to 17.5% of their home equity. In exchange, Unison will share in your home’s future change in value, up or down. While Unison does not charge an interest rate or monthly payment, you will pay a 3% transaction fee, appraisal fee and settlement cost.
- No monthly payment or interest charged
- 30-year term
- Not available in all states
- Additional fees
Unison details
Rates
Your Unison agreement is good for 30 years, at which point you will need to sell or buy back your portion from Unison. At any time, you are able to sell your home, but if it is within the first five years of the agreement, Unison will not share in any loss in value your home might have. After five years of the agreement, Unison will share the loss of value, and you are able to sell or buy back your portion at any time.
Application process
Once your application is approved, you will receive an independent appraisal. Based on this appraisal, Unison will then apply a 5% risk adjustment. This means if your home appraises for $400,000, Unison will adjust it to $380,000 as the original agreed value.
You still own your home, but Unison will place a lien on your property. You will not be able to legally sell it without complying with Unison’s agreement. Additionally, Unison can dictate certain terms; for example, in most cases, you will not be able to turn your home into a rental property while Unison still has the lien.
Carol, a ConsumerAffairs reviewer from Charleston, South Carolina, had this to say about their experience with Unison: "Can’t say enough good things about how responsive, kind, patient and knowledgeable my customer service rep was. … Now, my life, home and credit score have dramatically improved. I’m out of debt, my badly deteriorating home is good as new, and my daughter’s wedding paid for!"
Loan types
Refinancing
Home equity sharing agreements are an alternative to refinancing. Unlike refinancing, entering an ESA does not change your interest rate or your monthly payment. When you refinance your home, you can see your monthly payment go up or down, depending on your new interest rate and how much equity you convert to cash.
Requirements
Unison primarily invests in owner-occupied homes, meaning you live in your home at least 180 days out of the year and are not gone from your home for more than 60 consecutive days. Unison may sometimes invest in rental properties, but the terms may differ; you should contact Unison for more details. It is also recommended that you plan to stay in your home at least five years after the agreement, since Unison will not share in any loss of your home value if you sell your home within the first five years of the agreement. You can buy out your agreement at any time, but Unison will not share in any loss.
Signing up for a Unison agreement when you have more house than you can afford will not fix your financial situation.
Cost and fees
When considering if a home equity sharing agreement is the right choice for you, compare it with the closing costs and APR of a cash-out refinance, home equity loan or home equity line of credit (HELOC).
FAQ
What is Unison?
Unison is a real estate investment company that allows homeowners to convert up to 15% of their equity into cash in exchange for a portion of a home’s future change in value.
Is Unison legit?
Unison is a legitimate business founded in 2004 and based in San Francisco, California, and Omaha, Nebraska.
Where is Unison available?
Unison is available in 29 states and Washington, D.C. Unison is unavailable in Alaska, Alabama, Arkansas, Connecticut, Georgia, Hawaii, Idaho, Iowa, Louisiana, Maine, Maryland, Mississippi, Montana, New Hampshire, North Dakota, Oklahoma, South Dakota, Texas, Vermont, West Virginia and Wyoming.
Unison Reviews
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Reviewed March 15, 2025
They are completely predatory and are guilty of usury, They are in violation of the California law which prohibits charging of interest in excess of that is allowed by law. They are guilty elderly predatory practices. They should have criminal charges against them at this point.
Thank you for sharing your concerns. We want to clarify that our Home Equity Investment (HEI) is not a loan and does not have an interest rate. Instead, we share in the property’s future change in value, with no monthly payments. We are committed to transparency, consumer education, and full compliance with all applicable laws, including those protecting elderly homeowners. If you’d like to discuss further, please reach out to us at 800-330-5800 or email homepartners@unison.com.
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Reviewed Oct. 23, 2024
The Unison Agreement has its place in today's home financing tools. We had a Unison Agreement in 2007. Looking back we should have paid it off around 2015-2016 when we came into some money. Unfortunately we did not since "it wasn't costing us anything". Our home value in 2015 was about the same as it was in 2007. By 2024 though, our home value had doubled, and the Unison deal took a big chunk out of our net sales proceeds. As well, If you take a Unison Agreement know that you will have a very, very, very difficult time refinancing your home. Unison likes to tell you you have refi options - and you actually do - providing that you like a 4-5% higher rate than market or a really terrible ARM product. Their exit process is legendary for its difficulty and poor service - another reason to think twice about getting a Unison Agreement compared to other options available today.
Thank you for sharing your experience. We're truly sorry for the challenges you’ve faced, especially with refinancing. The issue stems from recent changes in lender policies, not our terms. While we try to keep an updated list of lenders and are willing to allow Unison to subordinate, market conditions can shift. We apologize that the agreed to terms led to a less-than-desirable outcome. Your feedback is important, and we’re committed to improving our processes.
Reviewed Oct. 23, 2024
Worst company ever. Predatory lenders. We got trapped in this in 2011 very soon after purchasing our home in 2010. We needed a small amount of money to get out of a debt that needed to be paid with no equity, we sought out other sources. We signed with Unison for a modest 32,000 loan. Little did we know that they would have a lien on the home that would keep us from refinancing in 2024.
We have paid our mortgage payments to date, and now have a nice chunk in the house. Hoping to refi since I am now alone here, Unison steps in and no company will help me with a refinancing of my loan. After months of getting the runaround and paying for a second appraisal. The final cost of getting out of the contract is 129,000 on a 30,000 loan! I am stuck and don't want to sell my home but it looks as if that may be exactly what needs to happen and I am heart broken. If anyone has any insight, lawsuit I can jump on or answer to this horrible disaster please reach out. Do not sign with this company ... ever.
Thank you for sharing your experience. We're truly sorry for the challenges you’ve faced, especially with refinancing. The issue stems from recent changes in lender policies, not our terms. While we try to keep an updated list of lenders and are willing to allow Unison to subordinate, market conditions can shift. We apologize that the agreed to terms led to a less-than-desirable outcome. Your feedback is important, and we’re committed to improving our processes.
Reviewed Aug. 29, 2024
Unison is terrible. We wanted to buy them out after just 4 and Half years. They sent an appraiser to do the valuation after they lowballed it on the original one and when he didn't come to the number they thought they should get even though they more than double the money that I borrowed. They said they would have to do another appraisal. Appraiser shopping. They are parasites and you should never use this service. Find any other way to get out of the situation that you only think you are trapped in. They make it worse....way worse.
Reviewed Aug. 10, 2024
I am so sorry I entered this agreement... I need to refinance my house, and I can't. I have a limit on what I can refinance to. If I want to have a special termination agreement, I have to pay them $130,000 to close it... I borrowed $52,000. Now I am so sorry... I feel like it's a Loan Shark type of situation. I wish I wasn't so ignorant.
While you are permitted to refinance and keep your Unison agreement, Unison can’t agree to certain “cash-out” refinances that exceed the agreed upon limit. This is similar to most subordinate financial providers, and exists to protect Unison’s investment from being diluted. It’s also important to note that Unison makes clear that the agreement is not a loan & has no interest or monthly payments. We invest in the home alongside you & receive a percentage of its change in value–up or down.
Reviewed April 11, 2024
At the time of joining, this program seemed like a dream. Unfortunately, the smoke has cleared a bit and the dream is not at all what it initially was. The company says it works with “most banks and lenders” and “contact for list of companies”, but I have been given only one option who does not even offer home equity loans. Banks who will subordinate still will not take Unison‘s subordination agreement because of the legal writing within the Unison contract. This has been a disaster and speaking with someone who actually understands the process and contract has been a challenge. I very much wish I had sought a personal loan or traditional home equity loan from the beginning.
Thanks for the feedback. Unison has an extensive customer education & disclosure process. We encourage questions & seeking outside advice where needed. If you are looking to refinance your mortgage, we do work with most lenders; however, the market is always changing & there’s no guarantee that lender guidelines will remain static. If a customer plans to refinance, we recommend that they do so before partnering with us. To determine if we can assist you further, someone will be reaching out.
Reviewed Feb. 1, 2024
I have tried with 4 lenders and credit unions to take out a $50k home equity loan and have been rejected by all only because of the Unison Agreement. Unison tells you they will subordinate to 3rd position but still no banks will lend because of Unison's ownership interest and equity stake. Unison even sent me some lenders who supposedly have worked with them in the past and when I spoke with one of them he told me that the only way it used to work is if Unison removes their lien and puts it back on street the homeowner gets their loan. l, and now they have stopped doing it.
I have been asking them to do it for me and told them I will sign the documents in advance to put their lien back on, anything they want, and they still won't do anything for me. I will end my contract as soon as the value decreases more and I can find the right timing. I would urge others not to bother with doing this unless they don't think they will ever need to borrow again on their home's equity.
Hi Jeanna, we’re sorry to hear of your difficulty obtaining a home equity loan. When customers like you choose to refinance, Unison works with most mortgage lenders & often agrees to subordinate. But mortgage lenders are third parties whose requirements often change; Unison advises that some may decline, & that customers who want to refinance should do so before their agreement. We provide the list of lenders as courtesy, keep it as up to date as we can, & have removed the mentioned lender.
Reviewed Jan. 22, 2024
Updated on 1/29/24: Numerous lawyers, lobbyists, and legislators are working on a bill that would change legislation to stop allowing companies like Unison to take so much of people’s equity in their home. Unison will try to sell you on the benefits, but don’t be fooled, no one wins except them. It’s robbery. Pure and simple.
Original review: This is a predatory lending company that preys on people in debt. They have found a way to circumvent all consumer protection & fair lending laws by calling themselves an “equity sharing” company. Don’t fall for it. As one of their recent victims I lost ALL the equity in my home to them. They took $161,000 for a $35,000 loan. Do not make the mistake I did. Their contracts are so convoluted, even attorneys can’t understand them. Never do business with them. Run as fast and as far as you can.
Krystal-thanks for your review. We created our equity sharing agreements as a loan alternative, since traditionally accessing equity meant taking out a loan. We invest alongside homeowners, giving cash in exchange for an option to share in their home's future change in value. We only share in the equity that is created. If the house goes up in value, we win together; if it goes down, we share in the loss. We emphasize education, welcome questions,&recommend customers meet with financial advisors
Reviewed Nov. 24, 2023
I have over $400,000 in documented equity. I was rejected due to having too little equity. I don't understand how this company decides to work with you, if at all. And they gave me no opportunity to appeal. Stay away
Thanks for your feedback. I messaged you for more info so that we can better assist. We consider investment based on a number of factors, including estimated available equity, which is based on title records and/or well-established automated valuation models. If you believe we are mistaken, we'd be glad to look into this. Please respond to our private message at your convenience. Although it is our hope to assist as many homeowners as possible, regrettably we are not a fit for everyone.
Reviewed April 1, 2023
Unison representatives start by telling you how great their program is. When you try and buy yourself out they give you the run around, block your emails, and charge you more than double what they gave.
Hi Dawn,
Thank you for your honest feedback. We apologize to hear about the frustrating experience you had with us when trying to buy out your Unison Agreement–we take all feedback and suggestions seriously. I sent you a direct message to find out more details about how we can further assist you.
Talk soon,KA
The Unison Team
Unison Company Information
- Company Name:
- Unison
- Website:
- www.unison.com
