EasyKnock

EasyKnock Review

EasyKnock is offered by easyknock, a nonbank financial services provider founded in 2016 and based in New York, NY. EasyKnock are available in 50 states (and Washington, DC).

Key Takeaways

• Maximum investment of $450,000. Your actual offer will depend on the value of the home and how much equity you have in the property.

EasyKnock Pros & Cons

EasyKnock FAQ

How does the EasyKnock product work?

A shared equity agreement (also called home equity contract) is essentially a way to sell a portion of the equity in your home to an investment company.

EasyKnock will have a lien on the property (just like a mortgage does), but since it's not a loan you won't be paying EasyKnock interest or a monthly payment. Instead EasyKnock gets paid a share of your home's value when the contract ends, which typically occurs when you decide to sell your home or buy EasyKnock out. For example, EasyKnock might provide you with a cash investment today equal to 10% of your home's current value in exchange for 16% of your home's future value when you sell.

How much will EasyKnock Inc invest into a shared equity agreement?

The EasyKnock program offers equity investments that are a perentage of the property's value, but they do not disclose their equity investment percent range. As you might expect, EasyKnock Inc has a cap on the amount of funding they will invest in a single home. The most EasyKnock Inc can invest in a single home is $450,000.

While EasyKnock is not a loan product, the maximum "loan to value" percentage is 50%. That means the value of their investment in the property plus any existing mortgage balance cannot exceed 50% of its market value.

What are the costs associated with EasyKnock?

Unlike loans, the cost associated with an EasyKnock Inc investment is not based on an interest rate. There are no monthly payments or accrued interest. Instead, EasyKnock Inc shares in the future value of your property and typically only receives a return on its investment when you sell your home or decide to buy EasyKnock Inc out. The percentage of your home’s value that EasyKnock Inc shares when the contract ends is larger than the percentage of EasyKnock Inc's investment in your home. Therefore, EasyKnock Inc will make a profit if your home’s value does not change. If your home’s value increases, EasyKnock Inc will make a larger profit. If the value drops, EasyKnock Inc will make a smaller profit, or might incur a loss.

How long does it take to close a deal with EasyKnock Inc?

EasyKnock does not disclose how long it typically takes to approve and fund a shared equity agreement.

Is EasyKnock Inc a legit company?

EasyKnock was founded in 2016. It is an established company that has been in business for 7 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.