finances

EasyKnock Reviews: What Homeowners Love

Tom BurchnellReviewed by

If you're looking to see what customers have to say about EasyKnock, read below for common reviews that homeowners have after working with EasyKnock.

If one reviewer says something, you can chalk it up to their personal preferences. If two or three say the same thing, it’s time to start giving some serious weight to that opinion. But when every review about a company talks about certain benefits, you know you're learning about something real.

EasyKnock reviews have many of those through lines.

EasyKnock is a sale-leaseback company that offers homeowners solutions to convert their home equity to cash, whether it’s to get out of your mortgage, pay off debt, utilize money for an investment, or make home improvements. Our solutions allow homeowners to sell their house to EasyKnock, release themselves from their mortgage loan, and convert their equity to cash, all without having to move. Instead, people stay in place as tenants, taking the time they need to figure out their next steps.

EasyKnock 101

EasyKnock is the brainchild of Jarred Kessler, the company’s CEO. He created EasyKnock because he saw how hard it was for property owners to liquidate their home’s equity and achieve financial security and freedom. 

The Programs

First, Jarred created Sell & Stay, a residential sale leaseback program designed for struggling American homeowners. The program people sell their homes and stay in place as tenants until they’re ready to buy the property back or move — the choice is theirs.

MoveAbility came next, building upon Sell & Stay’s success. Geared toward giving home sellers more options, MoveAbility converts equity in advance of moving and selling on the open market. That way, a seller doesn't have to rush into a sale or find an "in-between" home.

The Impact

Through Sell & Stay and MoveAbility, EasyKnock empowers homeowners by helping them get the funds they need to achieve their goals. 

Sell & Stay gives homeowners an alternative to convert their home’sequity that doesn’t require borrowing and moving. People can use the money to pay bills, fund a new business, improve their homes, or meet other life goals, all without the burden of a new loan.

MoveAbility focuses on the seller. It helps people get the money they need to buy their next home, letting them move forward in their lives on their terms.

What People Are Saying

Thanks to its innovative programs, EasyKnock has received a lot of press. The recurring themes in these reviews speak to the unmet needs that EasyKnock fills.

Great Alternatives to Home Loans

Many EasyKnock reviews mention the company's programs as unique alternatives to home equity lines of credit (HELOCs) or equity loans. ConsumersAdvocate says that by giving people access to their equity without trapping them in new loans, EasyKnock “stands to revolutionize the equity industry."

MoveAbility, according to BestCompany, is “an excellent option for those who don’t qualify for a bridge loan.” A bridge loan is a short-term loan that people get when they want to buy a house before selling their current one. 

Bridge loans can be expensive and difficult to get. EasyKnock can render them unnecessary for many borrowers.

Options for Homeowners With Bad Credit

According to credit bureau Experian, to get a HELOC or home equity loan, most borrowers need credit scores of at least 680.

Because EasyKnock’s programs aren’t loans, participants don’t need to have good credit to qualify. A struggling homeowner can use Sell & Stay to cover bills or start getting out of debt without worrying that their credit score will keep them from getting the money they need.

That’s part of why EasyKnock made it onto The Credit Review’s Best of 2020 list.

Welcoming to Non-Traditional Incomes

EasyKnock was founded to serve homeowners whose needs aren’t met through traditional equity systems. That includes people who aren’t on company payrolls and can’t provide traditional proof of income like pay stubs or W-2 tax forms.  

Applying for a loan, including a home equity loan, HELOC, or personal loan usually requires a borrower to provide income documentation. That leaves out entire groups of professionals including freelancers and small business owners. 

Because these borrowers don’t have regular salaries, lenders often view them as higher-risk and impose stricter qualification standards. EasyKnock doesn’t require the same level of income verification as lenders do, and that makes it easier for non-W2 professionals to get the cash they need.

Great Alternative to Releasing Equity Quickly

In its review of EasyKnock, ConsumersAdvocate says that EasyKnock “might be ideal for those who need cash fast.” This is a common through-line in EasyKnock reviews. 

It’s not easy to get quick access to the equity you’ve built up in a home. Selling a home can take months — up to 70 days, according to data from 2018, though every year and market is different. Even getting a HELOC or home equity loan can take up to 45 days.

With EasyKnock, a homeowner can close and liquidate their equity in as little as two weeks. When someone has bills to pay or a business to fund, that extra time can make a big difference.

Convert your Home Equity to Cash

Flexibility to Buy Back, Move, or Keep Renting

Flexibility is another common theme in EasyKnock reviews. When a homeowner works with EasyKnock, they make monthly rent payments as a tenant until they’re ready to repurchase the home or move.

MoveAbility lets you stay in the home for up to 12 months. The program is geared toward helping homeowners relocate. 

For sellers who need a buyback option, there’s Sell & Stay.

Sell & Stay doesn’t impose time limits on rentals. Leases auto-renew at the end of the year, but a participant can have EasyKnock sell their house on the open market at any time, ending their lease and allowing them to move out. The contract includes provisions for both options, so there are no surprises and there’s no pressure in either direction.

Key Takeaways: The Themes

  • EasyKnock is designed to empower homeowners and give them options that they might not have otherwise.
  • It's two programs, Sell & Stay and MoveAbility, gives homeowners an alternative option for accessing their equity without committing to a home loan or line of credit.
  • Because EasyKnock isn’t a lender, its programs are more accessible to homeowners with bad credit or lack W2 income verification.
  • EasyKnock programs can close in as little as two weeks and offer the flexibility to keep renting, move, or buy back the home (in the case of Sell & Stay) at any time. 

Interested in learning more? Come explore what EasyKnock has to offer.

This article is based on research and/or other relevant articles and contains trusted sources. Our goal at EasyKnock is to provide readers with up-to-date and objective resources on real estate and mortgage-related topics. Our content is written by experienced contributors in the finance and real-estate space and all articles undergo an in-depth review process.

Sources:

  • https://www.consumersadvocate.org/home-equity-loans/c/easyknock-review
  • https://bestcompany.com/home-equity-loans/company/easyknock
  • https://www.experian.com/blogs/ask-experian/what-is-a-bridge-loan/
  • https://www.experian.com/blogs/ask-experian/what-credit-score-do-i-need-to-get-a-home-equity-loan/
  • https://thecreditreview.com/articles/easyknock-review
  • https://www.easyknock.com/blog/thinking-of-getting-a-home-loan-as-a-contractor-heres-how
  • https://smartasset.com/mortgage/how-long-does-it-take-to-sell-a-house
  • https://homeguides.sfgate.com/long-need-wait-home-equity-line-88547.html
Tom Burchnell
Product Marketing Director

Tom Burchnell, Director of Digital Product Marketing for EasyKnock, holds an MBA & BBA in Marketing from University of Georgia and has 6 years of experience in real estate and finance. In his previous work, he spent time working with one of the largest direct lenders in the SouthEast. 

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