North Carolina Couple Taps Hidden Wealth to Fund Home Renovation, Life Goals
A kitchen remodel, rainy-day funds, new business funding, and a feeling of financial relief are in one North Carolina couple’s future, thanks to an Unlock home equity agreement (HEA).
Twice around the block
Nick and his wife, Kay, initially contacted Unlock in early 2024. They had been discussing how to accomplish some of their short-term goals, including paying off credit card debt and taking care of some house projects. Knowing they had accumulated substantial equity in their home, they decided to pursue tapping that equity for the funds they’d need.
The couple explored a home equity line of credit (HELOC) or home equity loan option through their credit union. They had also seen TV ads for Unlock’s HEA, which piqued their interest. “We did not impulsively jump in,” says Nick. “We did our research, reviewed our options, and compared the pros and cons of each,” says Nick.
Understanding that getting a HELOC or home equity loan was going to be a more involved process with stricter requirements, they began to lean toward the home equity agreement (HEA). “We liked that the HEA is based primarily on how much equity is in your home, not your credit or other requirements.”
The lack of monthly payments also made an HEA a more attractive option for Nick and Kay. With an HEA, homeowners receive a lump sum payment up front in exchange for a portion of their home’s future value.
“In today’s economy, everything’s expensive: utilities, internet, mortgage, groceries,” said Nick. “No monthly payment is one less thing to worry about.”
The application process for an Unlock HEA moved along smoothly for the couple. After receiving their funds, they began tackling some of their home improvement projects. As 2025 rolled around, they realized they’d like to do more with their house – a house that had been Nick’s boyhood home and had been kept in the family but then sat empty for several years. “We were so happy to be able to purchase the home from my parents, but after that length of time, it really needed repairs, maintenance, and remodeling help,” said Nick.
They knew that, in just the year since they received their HEA funds, the value of their home had increased significantly. So, they went back to Unlock to refinance their HEA in order to tap additional equity funds. The process – which was direct and straightforward the first time – was even easier the second time. “Our Unlock team was great,” says Nick. “They even were able to resolve one issue that arose with our mortgage company in just a day.”
Putting HEA funds to good use at home and work
Nick and Kay have been hard at work putting their HEA funds to use – with a lot of sweat equity to help stretch the funds as far as possible. They’ve replaced their HVAC system, removed a problematic tree, installed some new windows, painted the interior, installed new flooring throughout the house, and purchased new appliances. A full kitchen remodel is on the horizon, which they plan to handle themselves. Nick credits Kay’s shopping and deal-finding acumen for saving them money on materials.
The HEA has also allowed them to put some money away for a rainy day. “We have some wiggle room now,” says Nick. “We’re no longer cringing when looking at our bank accounts.”
Nick also plans to use a small amount of their HEA money to get a business off the ground, leveraging AI in coaching small-business owners. “I want to help others become more productive, identify their pain points and address them,” he explains. If the business is successful, it will translate to greater economic freedom for the couple. “We didn’t have the means to do this before,” he says. “Now, we have that chance.”
Finding financial relief
“I feel relief,” says Nick. “It feels good to get nagging credit card debts off the table and behind us,” he says.
“We both grew up without much money in our families, and we learned to live within our means,” Nick concludes. “We’re not extravagant, but now, using HEA money smartly, we can get some things done that we really want to do – and occasionally treat ourselves to little things once in a while.”
