Splitero Alternatives: 6 Options If It Isn’t Right for You
If Splitero doesn't operate in your state, Hometap is the best-known home equity investment brand and a sensible starting point, though you should confirm your state's eligibility directly on its site. If you own a rental or investment property, Splitero won't work regardless of location, but Unlock and Nada both accept non-owner-occupied homes.
Splitero is a solid home equity investment (HEI) option for the right homeowner, but it isn’t the right option for everyone. It only operates in 13 states (Arizona, California, Colorado, Florida, Nevada, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, and Washington), and it only works with owner-occupied primary homes, so investment properties, rentals, and manufactured homes are excluded outright. If either of those rules out Splitero for you, or if its $50,000 minimum, ~4.99% fee, or 65-70% max combined loan-to-value simply isn’t the best fit, several other providers are worth a look.
Start with Splitero
If you are in one of its 13 states and want the longest term with the lowest credit floor, Splitero is the one to check first.
Disclosure: TopMoneyHub earns affiliate commission from Splitero and from some of the other providers featured in this article.
Splitero alternatives compared
All six companies below offer home equity investments (HEI), sometimes called home equity agreements (HEA). None of them charge interest or require a monthly payment — instead, you sell a share of your home’s future value in exchange for a lump sum today. Figures are each provider’s own published minimums, ranges, and fees; state availability isn’t included here because it varies by provider and changes over time, so confirm it directly on each company’s site.
| Provider | Min. credit score | Amount range | Fees | Good to know |
|---|---|---|---|---|
| Splitero | 500 | $50,000 – $500,000 | ~4.99% origination + closing costs | Owner-occupied only; 13 states |
| Hometap | 585 | $15,000 – $600,000 | 3% – 4.5% + closing costs | Best-known HEI brand |
| Point | 500 | $30,000 – $600,000 | Up to 3.9% ($2,000 min.) + closing costs | Terms up to 30 years |
| Unison | 620 | $30,000 – $500,000 | 3.9% + closing costs | Flat fee structure |
| Unlock | 500 | $15,000 – $500,000 | 4.9% + closing costs | Allows rental/investment property; partial buyback option |
| Nada | 500 | $20,000 – $500,000 | 4% – 5% origination + closing costs | Structured as an HEA; allows investment property |
If Splitero doesn’t operate in your state
Splitero’s 13-state footprint (Arizona, California, Colorado, Florida, Nevada, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, and Washington) leaves most of the country out, including Texas, where state constitutional rules restrict home equity products, and New York. If you live outside those 13 states, Splitero simply isn’t an option regardless of your credit score or equity.
Hometap is the best-known name in the HEI space and is worth checking first, but every provider in the table above sets its own state list, and none of that data is included here. Don’t assume a company operates where you live just because it isn’t Splitero — check each provider’s eligibility tool with your own address before you get your hopes up.
If you own a rental or investment property
Splitero only works with owner-occupied primary residences — single-family homes, condos, and townhomes you actually live in. Investment properties and manufactured homes are excluded, full stop, no matter your state or credit score.
Of the providers compared here, Unlock and Nada both explicitly allow investment or rental properties. Unlock has a $15,000–$500,000 range, a 500 minimum credit score, and a 4.9% fee plus closing costs, and it offers a partial buyback option if you want to unwind part of the agreement later. Nada, structured as a home equity agreement (HEA), runs $20,000–$500,000 with a 500 minimum credit score and a 4%–5% origination fee plus closing costs. Neither charges interest, since both are equity-based products rather than loans.
Hometap, Point, and Unison aren’t listed here as allowing non-owner-occupied properties, but that’s simply a gap in the facts available for this article, not a confirmed “no.” If one of those otherwise looks like the better fit on price or amount, ask directly whether it will consider your rental before ruling it out.
If you want a smaller amount
Splitero’s $50,000 floor is high if you only need a modest cash infusion. Hometap and Unlock both start at $15,000, the lowest minimums of the group, which makes either worth a look if you’re trying to avoid pulling more equity than you actually need. Nada starts a little higher at $20,000, and Point and Unison both start at $30,000.
A smaller draw also means less of your home’s future value changes hands, so matching the amount to your actual need — rather than defaulting to whichever provider has the lowest minimum available — is usually the better way to think about it.
If you want the lowest fees
Fees vary more than they might first appear. Point caps its fee at up to 3.9% (with a $2,000 minimum) plus closing costs, the lowest fee ceiling among the providers compared here. Unison charges a flat 3.9% plus closing costs. Hometap’s range actually starts lower, at 3%, though it can run up to 4.5% depending on your situation, so it’s worth a direct quote if the low end applies to you. Splitero sits around 4.99%, Unlock at 4.9%, and Nada between 4% and 5%, all plus closing costs.
None of these figures include closing costs, which apply across the board and aren’t broken out here, so ask every provider you’re comparing for an all-in cost estimate before deciding.
If you’d rather borrow than sell equity
An HEI isn’t a loan, and that’s the whole point for some homeowners — no interest, no APR, no monthly payment. But it also means giving up a share of your home’s future appreciation, which can end up costing more than a loan would if your home gains significant value. If you’d rather pay interest and keep 100% of your equity, a home equity line of credit (HELOC) is the more conventional alternative.
Aven offers a HELOC with a 6.50% APR (illustrative and subject to change), a $5,000–$250,000 range, a 2.5% transfer fee, and a minimum credit score of 620. Figure offers a HELOC at 6.20% APR (also illustrative and subject to change), $15,000–$400,000, a fee up to 4.99%, and the same 620 minimum credit score. Unlike every HEI on this page, both of these carry real interest charges and a monthly payment, so run the math on total cost over your expected payoff timeline before choosing either path.
Who should still choose Splitero
None of this means Splitero is a bad option — for the right homeowner, it’s a strong one. If you live in one of its 13 states, own and occupy your home, need somewhere between $50,000 and $500,000, and have a credit score as low as 500, Splitero’s lack of any income or employment requirement makes it accessible to homeowners who might struggle to qualify for a traditional loan. Its ~4.99% fee sits in the middle of the pack rather than at either extreme, and its 65–70% max combined loan-to-value means you keep roughly 30% of your equity untouched. If your situation matches that profile, it’s still worth comparing directly against the alternatives above rather than assuming a competitor is automatically better.
How to decide between these options
Start with whichever factor actually disqualifies Splitero for you, since that narrows the field fastest. Location and property type are hard rules, not preferences — no amount of comparing fees will fix a home that’s outside the footprint or a rental that doesn’t qualify. Once you’ve filtered by those, compare minimum amount, fee structure, and minimum credit score against your own numbers rather than picking whichever name is most familiar.
It’s also worth getting at least two quotes before signing anything. Because none of these products charge interest, it’s easy to assume they’re all roughly interchangeable, but the origination fee, the share of future appreciation, and the closing costs all move the real cost up or down in ways that aren’t obvious from a headline percentage alone. A same-day online estimate from two or three providers, HEI or HELOC, is the fastest way to see the actual numbers side by side.
Start with Splitero
If you are in one of its 13 states and want the longest term with the lowest credit floor, Splitero is the one to check first.
Read next
- Full Splitero review — ratings, fees, settlement terms and the complete state list
- What Splitero actually costs — worked scenarios with the arithmetic shown
- Splitero requirements — do you qualify?
- Splitero vs a HELOC — which way to tap your equity
- Compare all home equity lenders
Frequently Asked Questions
What's the best Splitero alternative overall?
It depends on why Splitero doesn't fit. Hometap is the best-known HEI brand and a reasonable first stop if you're outside Splitero's 13 states. Unlock and Nada are the ones to check if you own a rental or investment property, since both explicitly allow it. There's no single "best" alternative across every situation.
Which alternative works if I own an investment property?
Unlock and Nada both allow rental or investment properties, unlike Splitero, which is owner-occupied only. Unlock runs $15,000-$500,000 with a 4.9% fee; Nada runs $20,000-$500,000 with a 4%-5% origination fee. Both have a 500 minimum credit score.
Is there an HEI option with a lower minimum amount than Splitero?
Yes. Splitero's floor is $50,000, but Hometap and Unlock both start as low as $15,000, and Nada starts at $20,000. Point and Unison start at $30,000. A lower minimum can help if you only need a modest amount and want to avoid giving up more equity than necessary.
Do any of these alternatives charge interest?
The home equity investment products – Splitero, Hometap, Point, Unison, Unlock, and Nada – have no interest and no APR, since you're selling a share of future value rather than borrowing. The HELOC alternatives, Aven (6.50% APR) and Figure (6.20% APR), do charge interest; both rates are illustrative and subject to change.
What credit score do I need to qualify?
Minimums vary by provider. Splitero, Point, Unlock, and Nada all list a 500 minimum credit score. Hometap requires 585. Unison requires 620, the same floor as both HELOC options, Aven and Figure.
Should I choose a HELOC instead of a home equity investment?
A HELOC (like Aven or Figure) lets you keep all your home's future appreciation but requires paying interest and a monthly payment. An HEI (like Splitero or its alternatives) has no interest or monthly payment but takes a share of your home's future value instead. Which is cheaper depends on how your home's value moves and how long you keep the money outstanding.