Splitero vs. Unison [A Direct Comparison]

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Share the wealth!

In the battle of two shared equity agreement behemoths, Splitero and Unison, which one should you do business with? They’re both quite reputable and have enticing product offerings. In this post, we get into an in-depth look at how the two fare against each other, the pros and cons of each, and whether either one is best for you and your particular goals.

Let’s get into it.

What is a Shared Equity Agreement?

For those that don’t know what a Shared Equity Agreement or Home Equity Investment (HEI) is, let’s clarify it. Generally, a Shared Equity Agreement (or HEI) is when two or more parties share in the ownership of a property. This allows the involved parties to decrease the cost of barrier to entry of ownership as well as share in the profits and liabilities that go along with home ownership.

How do Splitero and Unison benefit you in a Shared Equity Agreement?

Companies like Splitero and Unison are institutions with capital, and they want to deploy their capital in a way that allows them to invest and make more money. They’ve decided to do this by specializing in the offering of shared equity agreements to existing homeowners. The benefits run both ways.

For companies like Splitero and Unison, they benefit because they get to purchase partial ownership of the house and ride along for any capital appreciation and profits made by owning the home. This also allows them to spread their capital throughout many various properties so as to diversify their holdings, albeit all in the real estate category. But they specialize in this niche, and they’ve done well with it.

For the existing homeowner, you, for example, Splitero and Unison provide the option to pull out cash for shares in the property. By allowing them to own a part of your home, you essentially avoid having to take on debt. Otherwise, your other options include taking out a home equity loan or a HELOC.

Furthermore, unlike a HELOC, an HEI doesn’t have high FICO score requirements or interest rate risk (risks associated with variable interest rates).

Is Shared Equity the same as Reverse Mortgage?

We get why this can get confusing. After all, both allow the homeowner to pull out cash to spend as needed, whether it be for personal reasons, emergencies, retirement, etc.

For starters though, shared equity agreements give you the approved cash in full upfront. Reverse mortgages, on the other hand, pay you month by month.

Reverse mortgages require that the home you live in be your primary residence. This is an important point because if you are elderly and end up in a nursing home or assisted living, the reverse mortgage is no longer binding and you’ll have to pay back the money that was given to you.

With a shared equity agreement, you don’t necessarily have to live in the home as a primary residence. You can use investment properties and effectively co-invest with a partner company to reduce overall risk.

Lastly, reverse mortgages are only available to customers aged 62 and older, whereas there is no age limit with shared equity agreements.

How do Splitero and Unison compare?


For Splitero, there’s one glaring downside to using them, and that’s their availability. Currently, they are only able to service homeowners with properties in California, Colorado, or Washington. That’s it.

Those three states are the entire list at this point. It is a bit of an improvement though, as not too long ago, they were only servicing residents of the state of California only. To be sure, they’re working on expanding their reach, and we’ll update you when we get word of any changes.

However, if you are a homeowner in California, Colorado, or Washington, Splitero can be great to work with. Additionally:

  • Splitero can give you equity access of up to $500,000.
  • The appraised value of the property must range from $150k to $5 million.
  • There are no employment requirements.
  • There are no income requirements, including debt-to-income (DTI) ratio requirements.
  • They’ve got competitive origination fees that don’t total more than 1.99% if you qualify for the lowest rate. However, it can go all the way up to 3.99% depending on the details of your application.
  • Closing costs can cost between $250 to $550.
  • Splitero does not have a credit score minimum. They do accept poor credit. Just keep in mind that Splitero still takes your score into account during the application.
  • You can close a deal with Splitero in 14 days.
  • You’re not obligated to pay back funds for up to 30 years.

Splitero Full Review


Unison doesn’t have the geographic limitation that Splitero has. They service 25+ states at the moment. Just this alone gives them a huge leg up on Splitero. After all, most people live in states outside of California, Colorado, and Washington. Additionally:

  • Unison can also give you equity access of up to $500,000.
  • Unison’s origination fees can be higher or lower than Splitero’s, but their 3% fee is relatively standard in the industry.
  • They have a firm credit score requirement of at least 620.
  • Requires max debt-to-income (DTI) ratio of 43%.
  • You aren’t obligated to pay back funds for up to 30 years.

Unison Full Review

States or areas that Splitero currently serves

  • California
  • Colorado
  • Washington

States or areas that Unison currently serves

  • Washington, DC
  • Arizona
  • California
  • Colorado
  • Delaware
  • Florida
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • North Carolina
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Utah
  • Virginia
  • Washington
  • Wisconsin

Which do we recommend: Splitero or Unison?

If you live in California, Colorado, or Washington, Splitero is a competitive option especially if you can get the lowest rate for their origination fees. They have a leg up on Unison in the following ways:

  • No job requirements
  • No income requirements
  • No DTI ratio maximum
  • No FICO score minimum

Otherwise, you kind of have no choice but to go with Unison, and that’s provided that you live in one of the 25+ states that Unison serves.

They both have similar property restrictions, customer service, and equity access. Plus, with both companies, you can always buy back your equity at any time during the 30-year term.

These two companies are more of the straight-up shared equity investment companies you can work with. If you’re looking for one that offers a bit more than just upfront cash for equity, look into EasyKnock. This company offers shared equity agreements just like Splitero and Unison, but it also offers a couple of other programs beyond that to give you some further options and make your life just a bit easier.

Share the wealth!