Read Unison 36 Reviews Summary 2025

John Wheaton rated Unison 1 stars

8 months ago

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The Unison Agreement (UA) has it's place in the world of home finance. You should be fully informed before agreeing to taking on a UA so doing your research is mission critical. We took on a UA in 2007 when values crashed. By 2016 our home value was back at the level seen in 2007. Since we didn't have to make payments, we thought paying the UA off wouldn't be a wise use of capital. In hindsight, we should have since our home value doubled by 2024. The UA took a significant bite out of our sale proceeds and could have been avoided with an early payoff. As they say "live, and learn". What you should know: 1) There are other options that may require payments, but do not take equity growth as part of the payoff. Consider an Interest Only loan, or a Balloon Payment loan - both often will be private financing options - and take care of a temporary financial issue you may be facing. 2) Unison will tell you "Oh, we have refinance options available" and yes, they do. Just be sure you're OK with a really, really terrible ARM or a fixed loan with a rate 4-5 percent above what you're paying today. 3) Know that the exit process will be an uphill slog. Their staff is easily confused, unwilling to think outside the box, and not really in a hurry to help you. We nearly missed our sale escrow closing date because the appraisal wasn't ordered in a timely manner. I had to re-send documents a few times because they don't have a process that confirms receipt of the documentation. My contact at Unison left for a vacation 4 days before our closing date, did not let us know they would be gone, and handed the deal off to someone who knew zero about our deal. Luckily that person really tried to "right the ship" and get us back on track, but odds of getting someone like that who is willing to help are narrow to say the least. I've seen reviews where the appraisal product they order and receive is "not what they wanted" and they try and order another appraisal. Do not let that happen since it's a very, very gray legal area, and one that favors the lender (Unison) over the borrower (you) in almost every case. So to summarize - The UA is there for a reason and that reason may fit your needs. Know what all of your options are before signing up. Be ready for a difficult exit plan. Finally, be sure you are comfortable with your first loan terms as you have to stick with them throughout the term of the UA - even though they will tell you otherwise....

David Eisenstadt rated Unison 4 stars

a year ago

There came a point in my life where I had lots of equity in my home that could be put to better use for me and my family; so I investigated several ways of tapping that equity that would give us the best outcome for what we wanted to accomplish. After checking out home equity credit lines, reverse mortgages, home equity sharing, and getting a second trust dead, I decided that home equity sharing was the best option for our specific situation and checked out three different home equity sharing companies. After some time and thorough comparisons I settled on Unison. Unison assigned Mary Kay Walton to me as my contact and representative. Mary Kay was always helpful and responsive and kept me up to date on the process. There were no hiccups and the funding was completed on schedule.

Neal Adams rated Unison 5 stars

a year ago

Unison is a unique and very different way to tap into the equity in your home without adding any extra monthly payments. They share in the increased value of your home (or even in a loss of value!) in exchange for loaning you money that you do not need to make any payments on or any accrued interest either. You only owe them when you sell your home and you can take up to 30 years to pay them back. I was in a situation where I needed money from my equity but was not in a position to refinance nor make extra monthly payments. Unison was a life saver for me. I calculated out doing a cash-out refinance and the extra payments and interest I would pay as opposed to a Unison loan and I was still better off financially with this loan with the added benefit of no extra monthly payments. They were very friendly to deal with. I had an answer quickly and everything was taken care of online, with a couple phone calls and a home inspection and appraisal. Everything from start to finish (funding) was only about 3 weeks. I highly recommend this as an alternative to a home equity loan. Do the math and decide for yourself.