Ask Ben. Find your home equity fit.
Five quick questions. A suggested option, the costs, and the catch.
I'll help you see what could fit, and why.
Ben · MoneyAnswers guideHow much cash do you need?
A rough amount is fine.
Can you handle a new monthly payment?
This decides the type: a HELOC has a monthly payment, a home equity investment does not.
Roughly, what is your credit score?
Nothing is checked here. This only rules options in or out.
Where is the home?
Each company only works in certain states.
Pick a state to continue.
What kind of home is it?
Want to see your equity first?
Optional. Two sliders, nothing saved or sent.
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Before you visit
Quick answers before you go
Ben's other options
Your answers
Eligibility details
Want to come back to this?
A clearer next step. In five quick questions.
See a suggested option, why it fits, and the trade-off.
- Tell Ben what you needYour cash needs, credit, state and home.
- See which options could fitBen checks provider criteria.
- Understand the costs and the catchSee why it fits before you visit.
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An example of the result layout, not your match.
Compare home equity options
Start with how repayment works. Then compare providers.
No monthly payments
- Repayment:
- Settle later under the contract
- Cost:
- Fees and a share of future home value
- Key trade-off:
- The future settlement can be substantial.
Monthly payments
- Repayment:
- Monthly under the loan terms
- Cost:
- Interest and fees
- Key trade-off:
- Missed payments can put your home at risk.
A few things worth knowing.
Straight answers before you take the next step.
Will anyone call or text me?
This quiz doesn't ask for your phone number. A provider may ask for contact details if you choose to visit its site.
Will this quiz affect my credit?
This quiz doesn't run a credit check. A provider may check your credit if you apply. Each company sets a minimum score: about 500 for Splitero, Unlock, Point and Nada, 575 for Hometap, 600 for Upstart Home Lending, and 600 in most states for Figure. Figure's rate check is a soft pull.
What could this cost?
Closing costs apply to both types, and they vary by company and state. Ask for the full cost in dollars, not just the rate or share, before you sign.
Could my home be at risk?
With a HELOC, the home secures the loan, so missed payments can lead to foreclosure like a mortgage. With a home equity investment there is no monthly payment, but you must settle by the end of the term, usually by selling, refinancing or paying from savings. The CFPB notes that if you cannot settle, a sale can be forced. Read the settlement terms before you sign.
How soon could I get the money?
Figure says it can fund in about 5 days. Home equity investments usually take longer because of the appraisal and closing paperwork, and some states require an in-person notary.
Can I settle or repay early?
Home equity investments let you settle before the term ends, usually by paying the company its share based on the home's value at that time. HELOCs can generally be paid down any time. Check each company's terms for fees on early payoff.
How is my home valued?
The company arranges a valuation of your home, and the offer is based on that number, not yours. It can come in lower than you expect, which shrinks the offer. You can ask how they value the home and whether you can dispute it before you sign anything.
Do condos qualify?
Some do and some do not, and it can depend on the building. Confirm condo eligibility on the company's quote page before you count on it.
Not sure where to start? Ask Ben.
Five quick questions to help narrow down your options.
No phone. No SSN. No credit check on this page.
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