patch homes

Originally founded as Patch Homes, the company was a pioneer in the shared home equity space. Its mission was to provide homeowners with an alternative to traditional debt-based products like loans and HELOCs. In 2022, Patch Homes rebranded to Unlock to better reflect its core service of helping property owners access their home equity. The company operates by providing homeowners with a lump-sum cash payment in exchange for a share of the home's future change in value. This model involves no monthly payments or interest, with the investment being settled when the homeowner sells the home or at the end of the term.