The Best Shared Equity Alternatives to a Cash-Out Mortgage Refinance | August 2021
A shared equity agreement, also known as a home equity investment, is a debt-free way for homeowners to tap into their home equity without monthly payments or interest.
Are you interested in cashing out some of your home equity with a mortgage refinance? To qualify, most lenders require a credit score of at least 620 and a debt to income ratio no higher than 36%.
Shared equity agreements are much more flexible, requiring a credit score as low as 500. How? Well, instead of lending you money, shared equity investors give you cash for a slice of your home equity. This means easier qualification, no additional debt, and no monthly payments.
We recommend you apply with the following investors and see which one offers the best terms. It is free and won't hurt your credit.