How does the agreement end?

Three doors, you pick the door: sell the home (the agreement settles at closing out of proceeds), refinance out (a cash-out refinance or new loan pays it off), or buy it out early with cash. Every number is put on paper in your written offer before you commit.

Can I qualify with low credit?

Often, yes. HEA qualification is driven by your equity and your credit band rather than a hard loan-style minimum — many homeowners use an HEA to access equity while rebuilding credit, then refinance out later at a score no bank would have offered them when they started.

What does an HEA cost?

The upfront costs (origination and title/settlement) and the provider’s share of future value are all set out in your individual written offer. We won’t print an example percentage here because your real offer is the only number that matters — and as a broker, we’ll put it side by side with a HELOC and a cash-out refinance so you can pick with actual numbers.

Home Equity Agreement | Elevate Mortgage

Q: What is a Home Equity Agreement?

An HEA turns part of your home equity into cash today with no monthly payments. Instead of charging interest, the provider receives an agreed share of your home’s future value when the agreement ends. It is an agreement, not a loan — which is why there is no payment.

Home Equity Agreement

Equity cash today. No monthly payments.

A Home Equity Agreement (HEA) turns the equity in your property into cash today — with no monthly payments. Instead of interest, the provider receives an agreed share of your home’s future value when the agreement ends. Qualification is driven by your equity and credit band, with credit accepted well below typical loan minimums.

Get My Strategy

Step 1 of 4Takes about 90 seconds

What type of loan are you looking for?

Pick the one that sounds most like your situation.

60 seconds · no hard credit pull · your info is never sold

Key Advantages

Why Choose a HEA?

Here's what sets this loan product apart and who it works best for.

No Monthly Payments

There is no payment on an HEA — the agreement simply waits for its exit.

Credit-Flexible

Qualification leans on your equity, so lower credit scores can still be accepted.

Three Clear Exits

Sell the home, refinance out, or buy the agreement out early — you pick the door, and every number is on paper before you sign.

A Broker’s Advantage

We can fund an HEA or a loan. If a HELOC or refinance beats the HEA for your file, we’ll tell you that instead.

Eligibility

Qualification Requirements

General guidelines for Home Equity Agreement eligibility. Requirements vary by lender and scenario.

Requirement	Guideline
Monthly Payments	None
Qualification	Driven by equity and credit band
How It Ends	Sell, refinance out, or early buyout
Costs	Origination and title costs disclosed in your written offer

These are general guidelines only. Specific program requirements may vary. Contact us for a personalized review of your scenario.

FAQ

Frequently Asked Questions

Common questions about Home Equity Agreement loans.

Get Started Today

Ready to explore Home Equity Agreement?

Answer a few quick questions and get a personalized strategy recommendation — including whether HEA is right for your situation.

Build My Strategy Talk to Anthony

West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.

Explore More

Related Loan Products

Explore other products that may complement your strategy.

HELOC & Home Equity

Tap your home equity without touching your first mortgage

A Home Equity Line of Credit lets you draw funds as needed during the draw period, paying interest only on what you use — while your existing first mortgage stays exactly as it is. Great for home improvements, debt consolidation, or a financial safety net.

Learn more

Reverse Mortgage

Turn your equity into retirement funds

A reverse mortgage allows homeowners aged 62+ to access their home’s equity without making monthly mortgage payments. The loan is repaid when you sell the home, move out, or pass away.

Learn more

Cash-Out / Investor Refinance

Turn equity into a lump sum — or reposition the portfolio

Replace your current mortgage and walk away with cash, reduce your payment, or restructure rental debt to free up capital. Homeowners most often use cash-out to consolidate high-interest debt in one closing; investors refinance rental debt without tax returns via DSCR qualification.

Learn more