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EasyKnock

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6.8

Overall Score

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LAST UPDATED: September 6th, 2023

EasyKnock offers alternative home equity solutions, allowing you to convert your equity into cash. EasyKnock offers three equity programs — Sell & Stay, Sale-Leaseback, and MoveAbility. The Sell & Stay program offers an alternative method of accessing home value to traditional home equity lines of credits (HELOCs) and reverse mortgages with lenient qualifying requirements. The Sale-Leaseback program allows homeowners to sell their home to EasyKnock in exchange for cashing out on their home's equity and remaining in their house as renters. The MoveAbility program allows homeowners to get cash from their equity but take time in selling their home.

Check out EasyKnock's profile below for a more detailed look into the company, or skip down to the EasyKnock reviews below.

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The Good

Revolutionary Sale-Leaseback Program

EasyKnock’s Sell & Stay program is designed for people who own single-family homes who are looking to convert their home equity into cash, but who aren't quite ready to move out of their home. It is an excellent option for independent contractors, freelancers, and those with bad credit history since the credit score is not as important and there is no W-2 requirement. 

The Sell & Stay program is primarily a residential sale-leaseback program. With Sell & Stay, homeowners sell their home to EasyKnock and homeowners can continue to live in their house by paying monthly rent. By selling your house you can quickly recover your home's equity in the form of cash. You can then use your home's equity to pay off debt, fund college, start a business or whatever you like while still remaining in your current home. There is no other company that has this sort of program, EasyKnock offers the only Sell & Stay program for residential homeowners.

How it works:

  • Upon approval, EasyKnock will determine the funding amount, rental price, and a repurchase price (amounts and prices can be negotiated). Like the majority of lease terms, EasyKnock’s is 12 months — but it can be renewed for up to five years. If you decide to stay and lease your home, you'll only have to pay rent, EasyKnock will take care of property taxes and homeowners insurance. The company prides itself on its flexibility and allows customers to buy back their homes or move anytime throughout the lease. 
  • Consumers should be aware that EasyKnock will send an inspector out to check out their property for any maintenance issues and will order a title report. Once that is done, customers will receive the equity — in cash — upon closing. 
  • Those who decide to repurchase their home will have to pay the previously agreed-upon repurchase price. Those who choose to move will have their home put on the market (by EasyKnock). Once the house sells, consumers leave and receive the Sellout Value.

Eliminate the Rush to Move

The MoveAbility program is a great option for those who plan on purchasing a new home but don’t want to worry about having to buy and sell simultaneously. Currently, the program is available to people selling single-family homes, condos, and apartments. 

MoveAbility allows homeowners to get cash for their home quickly but waits until the customer is ready to sell. Once the customer is ready, EasyKnock will help them find a realtor to list the home at full market value. 

Those who choose to stay in their home will have to pay rent,  plus the initial lease term is only six months. However, consumers can renew twice — a total lease term of 18 months — but after that, the home has to be put on the market. 

The MoveAbility program is great for people looking for a bit of flexibility while they look for their dream home — it’s also an excellent option for those who don’t qualify for a bridge loan. 

Keep in mind that the MoveAbility program is not for those who want to buy back their home, as homeowners do not have that option. 

Quick Closing Time

Those in need of immediate cash will be relieved to hear that EasyKnock typically can close on a home in under two weeks. Banks and lenders often take around 40 days. EasyKnock will be able to give up to 70% of the home's value upfront—a huge bonus if you are needing to tap into your home equity quickly.

This money can be used to pay off debts or fund personal needs. Current homeowners that are stretched by their current mortgage payments and homeowners expenses can find peace in the fact that they can recoup a large amount of equity in the form of cash.

EasyKnock Reviews

EasyKnock is a great HELOC option that many customers are satisfied with. Out of about 50 of its customer reviews—

  • There are no one-star reviews
  • Over 60% of the reviews are five-star
  • It has received a 4.5/5 star rating from its customer reviews for the quality of product or service, customer service, and company trustworthiness

Most of the positive customer reviews talk about how EasyKnock is quick and flexible to work with any sort of circumstances that borrowers faced. For example, a recent customer named Jonathan said,

"I had a lot of equity but a low credit score so nobody would write me a mortgage. It was pretty easy and went very well. They answered every question that I had."

The negative reviews shared a common theme pointing out that occasionally the process could get a bit confusing, but typically issues were sorted out promptly and the overwhelming majority highlighted the ease of the home equity line of credit process.

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The Bad

No Longer a Homeowner

While home equity loans or refinance loans allow consumers to maintain ownership of their home, working with EasyKnock means homeowners will become renters (and have to pay rent). If a renter stays in the home for more than 12 months, the rent will increase by the higher amount of 2.5 percent or CPI annually.

For those looking to maintain homeownership and desire a more traditional home loan then it will be wise for some borrowers to look into other options.

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The Bottom Line

A relatively new company, EasyKnock, is an excellent option for those who want access to their home equity but don’t qualify to refinance their mortgage. If you have low income or a low credit score and are wanting to access money quickly, this sale leaseback program is a great option for you. The company offers innovative solutions to help you reach your financial goals, beyond just homeownership, and is transparent about the entire process. Site visitors will find the company’s website to be packed with information that is easy to understand and digest. 

However, homeowners might not be happy that they’ll have to become renters in a home they once owned and some might find themselves frustrated with increasing rent prices. 

We recommend that consumers contact the company for more information and perhaps look over your agreement with an attorney to ensure EasyKnock is right for you.

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Star Rating

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4.2

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59 Reviews

Review Breakdown

5 grade

56%

4 grade

27%

3 grade

5%

2 grade

3%

1 grade

8%

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Dennis San Antonio, TX

It was an easy process, they were really quick. You don't really worry about going through credit and all that kind of stuff they just make sure that your house is within the parameters they were looking for and then everything went really quick and easy. Anytime you are talking with them or dealing with them they're really quick to respond and answer your questions appropriately.

3 years ago

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anonymous Ocala, FL

I chose them because they had what I needed. It's always hard to get ahold of someone. Other than that everything's good. They were nice people to work with and they tried to explain everything so I can understand it and I thought it was a pretty good experience.

3 years ago

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John

I needed extra money for health care for my partner. Everything went pretty well. The process of going through inspections and such took a little long. They did really well at keeping me informed.

3 years ago

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Chris

They were financially the right move at the time. It was pretty easy it was all done over the phone. The only thing is there was too many different people I had to talk to that got confusing.

3 years ago

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Max

It's a good alternative for people who don't have a whole lot of options. It was easy and straightforward. We did have an issue and customer service dealt with it quickly.

3 years ago

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Debbie

Their program works for my circumstances. So far I've been happy with them and what they've been doing.

3 years ago

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Eric

The people that I have dealt with have been friendly and nice. They were really good and it went smoothly.

3 years ago

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Kathyn Canton, GA

I'm very satisfied. It was an easy process. Sometimes when you call it is hard to get to the right person.

3 years ago

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Jennifer Horst

Fast and efficient. There was some confusion about the amount of money I was getting at closing

3 years ago

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Sharon Palmer

Great way to keep my home but not be overwhelmed with taxes.

3 years ago

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Debbie

Easy to do business with and contact representatives as needed.

3 years ago

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Alexander Kogan

Good company, very good service No delays very professional people

3 years ago

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R Sitzman

Compared to traditional home equity loans, Easy Knock has been very helpful.

3 years ago

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Jonathon Schuh Kansas City, MO

They are great at getting the process done fast

3 years ago

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Kristin Garlick

Easy to work with, but there are mix ups.

3 years ago

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Tara

They were helpful and the process was easy.

3 years ago