[Note from editor: The “Mastermind Showcase” highlights companies and news from members of GEM Diamond. Today’s showcase: Unlock]

Through its Home Equity Agreement (HEA), Unlock allows clients to access their home equity without monthly payments or having to refinance. Homeowners can access between $30,000-$500,000 as a cash payment and then consolidate credit card or medical debt, or fund needed property repairs. A home equity agreement has a 10-year term and does not impact the homeowner’s credit score. When the homeowner is able to pay off their debt their credit scores could improve, allowing them to qualify for a refinance or to save enough to purchase Unlock’s share on the home back.

Homeowners apply online and receive assistance from a dedicated home equity consultant throughout the entire process. The simple approval process allows funding to be available within 30-60 days, similar to a mortgage.

What we Like: This company is already running TV spots, and has an executive dream team with experience at Unison. We always like betting on people, but in this case, the product is just as good, and becoming more and more relevant every month. The minimal income and credit requirements have helped Unlocked prove the model by serving 8,000+ homeowners across 14 U.S. states, and they are just getting started.

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*Part of the 2024 REACH cohort.