Splitero Review [Why It May Not Be Worth It]

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Share the wealth!

If you’re a homeowner, there’s a good chance you’ve heard of Splitero. Today, we’ll be diving into what it is, how it works, and who it can benefit. Hopefully, by the end of this review, we’ll have helped you decide whether Splitero is something you should consider or not for your situation as a homeowner.

What is Splitero?

Splitero is a company that specializes in shared equity agreements. This allows homeowners to borrow money against the increased value of their homes. It can be a great option for those who want to take advantage of the current market conditions without officially taking out any additional loans.

Splitero Highlights

Access your home equity with ease.
Ease to qualify
Cost to use
Customer service
Equity access amount


Shared equity agreement companies are on the rise. For residents of California, Splitero is a great choice to consider. Besides the limited availability to only California real estate, Splitero shines in every other way.


What is a shared equity agreement?

A shared equity agreement is an arrangement in which two or more parties agree to share the ownership of an asset. In this case, it’s a piece of property. The parties involved in the agreement will each own a percentage of the asset and will share in the profits or losses associated with it. Splitero is a company that offers to be your partner in a shared equity agreement.

In return for allowing Splitero to own equity, homeowners can receive a lump sum of cash that they can use for anything they like (home improvements, debt consolidation, or other purposes). The amount of money that homeowners can receive depends on the value of their home and Splitero’s own assessment of the property.

For example, with a $500,000 home value, you can receive $65,000. If the price of your home appreciates over the term of the loan, Splitero builds more equity over time. On the other hand, if your home depreciates, Splitero will share in that loss with smaller equity in the property.

Reasons to go into a shared equity agreement

  • The first reason why a shared equity agreement might be right for you is if you’re looking for an alternative to a traditional mortgage loan. If you don’t have the credit score or income needed to qualify for another mortgage, a shared equity agreement can be a way to finance additional projects.
  • Another reason to consider a shared equity agreement is if you’re trying to avoid taking on more debt. If you’re already struggling with credit card debt or other loans, a shared equity agreement can provide you with the money you need without adding to your debt load.
  • One last reason to consider a shared equity agreement is if you care more about having cash liquidity to invest in assets other than the equity in your home. This is especially true if you’ve locked in previously great interest rates in the current rising interest rate environment. Perhaps you’re looking to buy into the stock market and don’t have the cash to do so.

Splitero gives out access to cash with a low APR (for longer terms) and no monthly payments, so if any of the above sounds like your situation, Splitero could be a good option. By being able to unlock the value of your home’s future price potential, you can take advantage of other market opportunities that present themselves.

Does Splitero require a great credit score?

Absolutely not. Splitero can get you access to cash to use for any purpose without a credit check. They are not a bank, and any repayment is made via refinancing, home sale, or cash payoff. Splitero can help you as a partner in the equity of your home rather than a debt collector. It is a great option for those without great credit.

How is shared equity different than a HELOC?

A shared equity agreement differs from a home equity loan or HELOC in that you don’t make monthly payments, but rather pay Splitero back when you refinance, sell your house, or pay off the total amount borrowed.

For example, imagine that you have an emergency, and you need some quick cash. You don’t want to take out any more loans, and you’re confident that when you sell your house, you’ll be able to pay Splitero back. In that case, a shared equity agreement can make perfect sense.

How does Splitero make money?

Splitero, and any shared home equity company for that matter, make their money by charging an origination fee as well as sharing in the profits of any home appreciation that occurs. Origination fees tend to hover around the 3% mark, and for Splitero specifically, it ranges between 1.99% to 3.99%, depending on your credit score and other application factors.

Who qualifies for Splitero?

To be eligible for Splitero, homeowners must have equity in their homes and meet certain financial criteria. Splitero will also need to personally assess the property to ensure it meets its standards. The appraised value must be between $150,000 – $5,000,000. Here is a list of the property types accepted:

  • Single-family residence
  • Condominiums
  • Townhomes
  • Properties with 2-4 units
  • Owner-occupied and non-owner occupied
  • Held by individuals, in trusts (subject to approval), and by LLCs (subject to approval)
  • Mixed-usage if non-owner occupied

If you’re interested in finding out if you qualify, you can visit their website or give them a call.

How long does it take to finalize a deal with Splitero?

It can take as little as 14 days to finish finalizing a deal with Splitero.

Splitero alternatives

Equity Access

Up to $500,000

Up to $450,000

Up to $500,000

Up to $600,000

Up to $500,000

Origination Fee

1.99% - 3.99%

3.49% - 3.99%



3% - 5%


California Only

Most States

Most States

Some States

Some States

Min Credit Score

No Minimum






Where is Splitero available?

Splitero is available in California, Colorado, Oregon, Utah, or Washington. It’s best to contact them as they are growing and may be available in other states soon, since previously they were only available in California.

Splitero actively seeks funding to expand their services and are expanding quite fast.

Pros and cons of Splitero: The pros


  • No monthly payments
  • 30-year terms (can be lower but with higher APR)
  • Easy access to liquid cash

Pros and cons of Splitero: The cons


  • Loss of some equity in the property
  • High APR for shorter timeframes
  • Property type restrictions

Splitero real estate

What property restrictions does Splitero have?

Some property/real estate restrictions apply. The following types of real estate are not eligible:

  • Properties with 5 or more units
  • Modular/Mobile
  • Manufactured/Prefabricated
  • Commercial/Agricultural use case properties
  • Log cabins
  • Houseboats
  • Homes with nontraditional design (e.g. geodesic, earth bermed, shipping containers, etc.)
  • Properties located on 5 or more acres
  • Vacant land
  • Timeshares, fractional or segmented ownership

These properties are not eligible per Splitero’s requirements. If you are unsure if your property is eligible, feel free to give them a call. Their support staff will be happy to help you out.

Is Splitero legit?

When you’re working with a company that helps you navigate assets as large as your property, it’s only natural to wonder if the company is legit. Splitero is completely legit; that’s not to say it’s the right choice for everyone, but it is trustworthy in its own right. The reason for this is because Splitero is in an industry that’s highly regulated, and so far it has checked all the boxes in doing business correctly.

It’s also led by a highly experienced and competent team. Splitero launched with $5.8 million in seed funding, led by Adam Pase and his company Gemini Ventures. Partner investors include Permit Ventures, Fiat Ventures, and more. In total, they have secured over $1 billion in financing.

The team consists of co-founder and CEO Michael Gifford, who is a fintech and real estate expert and has worked with LendingHome now known as Kiavi, as well as COO David Zvaifler who founded Pacific Pines Real Estate and has served as COO of Apollo Realty Investments.

Note that Splitero is currently only serving California. Though some see this as a downside, it doesn’t mean that it won’t expand to other states. However, it takes time to get the company’s practices up to par to be able to serve other states, and it’s a lot more complicated than one might think. Each and every state has its own unique spin on requirements.

The fact that Splitero is only serving one state at the moment can be taken as a sign that it wants to focus on quality and execution rather than quickly expanding beyond its means.

Splitero Reviews: Success Stories

In conclusion

Splitero is a shared equity agreement that allows homeowners to borrow money against the increased value of their homes. There are some pros and cons, but overall, with such a long repayment schedule of 30 years and no monthly payments, it could be a good option for those who are looking for an alternative to traditional loans.

We recommend Splitero for specific use cases. If maintaining 100% equity in your home is important to you (passing the estate to your children or other reasons), Splitero simply isn’t the best choice. But, if you’d be able to use that cash productively and effectively, Splitero could be a game changer for your long-term wealth. It can also help prevent financial disasters that typically accompany the use of predatory loans should an emergency financial situation arise.

Share the wealth!