# How It Works

# How It Works

 

 

 

## Want to access your home equity?

#### What you need to have:

- Minimum property value $175K+
- Home equity of at least 30%
- Property in Unlock’s service area (see map)
- 500 minimum credit score
 
 

#### What you can’t have:

- Bankruptcies or foreclosures in last five years
- No more than one, 90-day late mortgage payment in last two years.
 
 

 

 ![Photograph of a homeowner standing in a bright living room on the phone, representing how Unlock helps homeowners access home equity with clarity and confidence.](https://www.unlock.com/app/uploads/how-it-works-2.jpg)    

 

 

 

 

## Why homeowners choose Unlock:

 

 

 ![Icon showing a dollar sign on a money bag representing flexible use of home equity funds.](https://www.unlock.com/app/uploads/sack-dollar-sharp-duotone-solid-full.svg) 

### No restrictions on how you use the funds

 

 

 ![Icon showing a calendar with a checkbox icon symbolizing no monthly payments required.](https://www.unlock.com/app/uploads/calendar-xmark-sharp-duotone-solid-full.svg) 

### No monthly payments

 

 

 ![Icon of a checkered flag representing no penalty for early settlement.](https://www.unlock.com/app/uploads/flag-checkered-sharp-duotone-solid-full.svg) 

### No penalty for settling early

 

 

 ![Icon of a credit score gauge icon showing no credit impact.](https://www.unlock.com/app/uploads/gauge-duotone-solid-full.svg) 

### No impact to your credit score

 

 

 ![Icon of a profile of a person indicating no income requirements.](https://www.unlock.com/app/uploads/money-from-bracket-sharp-duotone-solid-full.svg) 

### No income requirements

 

 

 ![Icon showing a house and a checkmark symbolizing no need to refinance an existing mortgage.](https://www.unlock.com/app/uploads/house-circle-check-sharp-duotone-solid-full.svg) 

### No need to replace your mortgage

 

 

 

 

## The keys to unlocking your home equity:

 

 

 01 

  

### Get
 Pre-qualified

Enter your address and contact information to see if you qualify.

 

 

 02 

  

### Submit Your
 Application

Apply in minutes and upload required documents to get your initial offer.

 

 

 03 

  

### Discuss Your
 Options

Talk with a home equity officer about your questions.

 

 

 04 

  

### Finalize
 Offer

Approve your offer after a third-party appraisal and title report.

 

 

 05 

  

### You’re
 Done!

Get funded within three days of signing your closing documents.

 

 

 

 

## Take our quiz to see if you qualify:

 

 

 1. Does your property have an appraised value of at least $175,000?

 

 Yes No 

 

 

 

 2. Is your property in state served by Unlock? (see map)

 

 Yes No 

 

 

 

 3. Do you have at least 30% home equity?

 

 Yes No 

 

 

 

 4. Do you have a credit score of 500 or higher?

 

 Yes No 

 

 

 

 5. Are you free of any bankruptcies or foreclosures in the last five years?

 

 Yes No 

 

 

 

 6. Have you paid your mortgage on time (no delinquencies) for the last two years?

 

 Yes No 

 

 

 

If you answered YES to every question, you could be eligible for a home equity agreement (HEA).

 [ Find out how much you can access today ](https://app.unlock.com/?utm_source=unlk-quiz) 

 

 

 

 

 

## Learn more about how HEAs work

 

 

  [ ![](https://www.unlock.com/app/uploads/How_an_HEA_works_c2c8c174af-300x200.jpg) Home Equity 101 

##### How an HEA Works: Home Equity Agreements Made Easy

Unlock Staff

 | Oct 21, 2022

 |  7 min

 

 

 ](https://www.unlock.com/blog/home-equity-101/how-a-hea-works-home-equity-agreements-made-easy/) 

  [ ![](https://www.unlock.com/app/uploads/7-Questions-to-Ask-Blog-photo--300x200.jpg) Home Equity 101 

##### 7 Questions to Ask If You’re Considering a Home Equity Agreement

Aimée Bennett

 | Jan 30, 2024

 |  5 min

 

 

 ](https://www.unlock.com/blog/home-equity-101/7-questions-to-ask-if-youre-considering-a-home-equity-agreement/) 

  [ ![](https://www.unlock.com/app/uploads/iStock-1492318132-300x169.jpg) Homeownership 

##### Understanding Your Home Equity Agreement (HEA) Obligations

Erika Gonzalez

 | Mar 4, 2025

 |  4 min

 

 

 ](https://www.unlock.com/blog/homeownership/understanding-your-home-equity-agreement-hea-obligations/) 

 

 

##  Ready to Unlock? 

 See how much you pre-qualify for in less than a minute.

 [Get Started](https://app.unlock.com/?utm_content=unlk-cta)