Alabama homeowners gain new option to access their home equity with no monthly payments

TEMPE, Ariz., June 4, 2026 /PRNewswire/ -- Alabama homeowners have a new option to access their home equity without taking on additional monthly payments, refinancing or selling their property, as Unlock Technologies expands into the state.

Unlock's flagship home equity agreement (HEA) is now available in Alabama, the 26^th state in the growing company's service area. An HEA allows homeowners to access a portion of their home's equity by obtaining cash up front in exchange for a portion of the home's equity when the agreement ends. There are no monthly payments, and no refinancing is required. When the agreement ends – by selling, buying out the HEA provider's share, or reaching the end of the term – the homeowner makes a settlement payment based on the home's value at that time. More than 20,000 homeowners in other states already have partnered with Unlock to obtain an HEA.

Addressing the homeowner squeeze

By increasing access to home equity, Unlock can help address the economic "squeeze" homeowners throughout the country are experiencing, says Unlock CEO Jim Riccitelli. "With ongoing inflation, day-to-day expenses spiraling out of control and consumer debt on the rise, homeowners are struggling to get by," he explains. At the same time, Riccitelli notes, many homeowners have built up substantial equity in their homes. "The HEA provides a straightforward way to access that equity without the burden of another monthly payment."

Total U.S. home equity stands at more than $34 trillion. In Alabama alone, the average amount of home equity statewide is more than $53,000. That represents an increase of 125% between 2020 and 2025. In larger markets throughout the state, the average amount of equity in a home is even higher, at more than $116,000.

Different qualification criteria

The Unlock HEA has different qualification criteria than does a traditional loan product like a home equity loan or home equity line of credit, explains Riccitelli. Credit scores as low as the 500s may qualify, and income requirements are flexible, meaning they can work well for retired individuals, and workers with fluctuating incomes, such as those who are self-employed, or working on a freelance or commission basis.

Along with Alabama, Unlock operates in Arizona, California, Florida, Hawaii, Idaho, Indiana, Kentucky, Michigan, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Vermont, Virginia, Wisconsin and Wyoming.

About Unlock Technologies (www.unlock.com)
Founded in 2020, Unlock Technologies is a Tempe, Arizona-based financial technology company providing products and services that help consumers solve financial challenges and improve their financial health. The company's flagship product is its home equity agreement, a financing option for homeowners who want to access the equity they have built in their homes without adding monthly payments, refinancing or selling.

Media contact: Allison Ferré, Communications and Public Relations Director, allison.ferre@unlock.com 

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SOURCE Unlock Technologies