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Rating by Finanso®

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Unlock Technologies


About Unlock Technologies

When a homeowner pays off their mortgage, they gain equity. Unlock Technologies assists homeowners in 15 states to access their equity to pay off other commitments or needs, such as home improvement projects, without taking out a loan.

Unlock Technologies, situated in San Francisco, California, was founded in June 2021. Its goal is to allow homeowners to use their equity to pay off debt, make home improvements, or pay for tuition without taking out a loan. There are no monthly payments or interest, and homeowners with low credit or a lot of debt can still qualify. However, you continue to pay your mortgage and other house-related bills like home insurance. Unlock Technologies can assist you with an immediate influx of cash when you are short on cash and need to renovate, pay off your children's tuition, or even take a long-awaited vacation. Because this isn't a loan, you won't have to worry about monthly payments or interest rates. However, be aware of what you are giving up in order to collect your funds. You'll wind up owing significantly more than you received from Unlock. On the other hand, the money you get from Unlock might just be enough to help you pay off a bill that would have otherwise led to more debt.

Pros and cons

Getting your equity back without paying a monthly payment or interest is enticing, but there are many advantages and disadvantages to doing so. Even if you need the money urgently, consider the long-term implications before signing this home equity agreement.


  • There are no monthly payments or interest charges.

  • A soft credit check is done, but one has no effect on your credit score.

  • To qualify, you only need a 500 credit score.

  • There is no minimum income requirement.

  • There are no restrictions on how you can spend the money you get from unlocking your equity.

  • You can get a cash estimate in as little as 60 seconds by filling out a simple online form.


  • Unlick is only available in 15 states.

  • Unlock receives over 16% of your equity, which is more than you receive in the cash-out refinancing.

  • If you cannot afford to buy out Unlock at the end of the term, you may have to sell your house.

Loan conditions

To be eligible for a home equity payback from Unlock, you must be over 18. You must also live in one of the following states: Arizona, California, Colorado, Florida, Michigan, Minnesota, Nevada, New Jersey, North Carolina, Oregon, South Carolina, Tennessee, Utah, Virginia, or Washington.

A strong credit score is also not required. Unlock may approve you if you have a FICO score of 500 or higher.

Then, you will need to have at least 20% equity in your property. If your house is worth $400,000, you must have paid off your mortgage by over $80,000. Additionally, your minimum loan-to-value (LTV) should be 70%.

However, you must have bought out the lender from your home to obtain a second equity payback through Unlock. You must also have a mortgage that has been paid off over 20% of the house’s purchase price.

Funding a loan

It takes about 60 seconds to complete the preliminary approval procedure. The appraisal and house inspection can take up to 30 days when you present all of the necessary information. If your documents and information are correct and up to date, Unlock can complete the appraisal and house inspection in as little as 10 days.


What is Unlock Technologies?

Through the use of a home equity agreement, Unlock Technologies enables homeowners to access funds from their equity to pay off other essential necessities such as house renovations.

Who owns Unlock Technologies?

Unlock is owned by Jim Riccitelli and Ryan Craft.

How do you qualify for Unlock Technologies homeownership solutions?

If you are over 18 and have a FICO score of 500, an active bank account, and an LTA of 70%, you are eligible for an Unlock cashback. You must also reside in one of the following 15 states: Arizona, California, Colorado, Florida, Michigan, Minnesota, Nevada, New Jersey, North Carolina, Oregon, South Carolina, Tennessee, Utah, Virginia, or Washington.

How much can you borrow from Unlock Technologies?

You can only borrow up to 43.5% or $500,000 of the market value of your home.

Is Unlock Technologies a legitimate company?

Yes. Unlock is a licensed real estate broker in the states where they operate.

Company documents

Privacy Policy
Terms of use

We are a team of consumer finance and real estate finance professionals committed to helping consumers solve financial challenges through the lens of equity.

© Unlock Technologies, Inc.

Calculate loan payments in Unlock Technologies

Unlock Technologies calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

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500000 $
Loan term

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What to focus on before applying for a loan with Unlock Technologies

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Unlock Technologies and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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