2020 EasyKnock Review: Access Your Home Equity With Bad Credit

2020 EasyKnock Review: Access Your Home Equity With Bad Credit

What Is EasyKnock?

Founded in 2016, EasyKnock offers a unique residential sale-leaseback program enabling homeowners to release a portion of their home equity without having to move. EasyKnock purchases the home and becomes the landlord, while allowing homeowners to continue living in it, with the ability to repurchase the home or move at any point.

EasyKnock is an excellent alternative for homeowners who have bad credit and have been denied when applying for a home equity loan or HELOC (home equity line of credit). EasyKnock isn’t focused on creditworthiness, instead aiming to provide an alternative equity release option for homeowners through their Sell and Stay program.

Home equity is calculated by subtracting outstanding loan balances from the home’s market value. You can borrow against your home equity through a home loan or HELOC, or you can use that equity to fund buying a new home after it has been sold. However, if you use your home as collateral, you risk losing it if you fail to repay your loan.

Through Sell and Stay, EasyKnock buys the home, and the homeowner-turned-tenant receives the equity they need while continuing to live in their home as long as they pay monthly rent. Sellers can repurchase their home or move at any time.

Homeowners can fill out a short application to find out if they qualify. (Homeowners must have a home worth at least $150,000 and the mortgage must be at least 50% paid.) If they do, they negotiate a funding amount, rent amount, and repurchase price. EasyKnock will complete the lease agreements, sale, and close the deal in as little as 21 days.

You can either repurchase your home or move to a new one. If you move, EasyKnock will put your house on the market and once the house is sold, you move out and receive the remainder of your equity after closing fees, this is called the Sellout Value.

Contact EasyKnock

Phone: 844-888-9213 Website: www.easyknock.com Address: EasyKnock, Inc. Real Estate Services 79 Madison Avenue New York, NY 10016-7802

EasyKnock Pros

  • Home Loan Alternative: EasyKnock offers an alternative to borrowers with bad credit who can't qualify for HELOCs or a home equity loan. This allows homeowners to stay in their current home while accessing the funds they need.
  • EasyKnock currently holds an A+ BBB rating (as of 12/1/2019).
  • EasyKnock is available in every US state except for West Virginia.

EasyKnock Cons

  • EasyKnock is not currently available in West Virginia.

EasyKnock Pricing

  • EasyKnock doesn’t require a minimum credit score or traditional income for you to qualify. Sell and Stay works best for individuals with loan-to-values of 50% or less.
  • EasyKnock will work with customers to find rent that is sustainable to them.
  • Homeowners can negotiate their sale price, lease length, and rent. EasyKnock’s standard lease is renewable for up to five years.
  • EasyKnock's fee is 2%.
  • As this is a purchase-sale agreement, typical closing costs apply.
  • Rent is based on the market rent of comparable homes, and is typically 9.5% of home value annually.
  • The repurchase price in the first year of your lease is the amount funded by EasyKnock plus 5%. Each following year the price either increases by the CPA (consumer price index) or 2.5% of the funding amount (whichever is greater).
  • If you move, you receive the remainder of your equity (or the sellout value).


EasyKnock provides an excellent alternative for homeowners who can’t qualify for a HELOC or home equity loan due to poor credit, non-w2 income, or high debt-to-income.

If you live in one of the eligible states, we recommend contacting EasyKnock directly to learn more about how you can access your home equity through their Sell and Stay program.

How long is the lease term length?

EasyKnock’s lease is a standard year in length, which can be renewed annually, or terminated at any point by exercising the option to repurchase or move. Easyknock customers can renew their yearly lease with just three months notice.

Who covers the cost of HOA, insurance, and property taxes?

EasyKnock covers the cost of HOA, insurance, and property taxes, although they recommend that their customers purchase renters insurance.

What are some important terms to know when working with EasyKnock?

  • Equity release: This allows you to use liquidity from your equity and have the right to use the asset.
  • Funding amount: The initial payment made by EasyKnock, which also includes paying off the mortgage balance.
  • Loan-to-value ratio: A loan-to-value ratio (LTV) is a ratio that compares the borrowed cash to the value of the purchased asset.
  • Mortgage balance: This is the full amount owed by a homeowner and includes the principal and accrued interest.
  • Repurchase price: This is the funding amount plus the inflation premium.
  • Sale-leaseback: This arrangement allows the seller to lease the asset from the purchaser once the sale has been made.

About The Author


Ashley Davison

Director of Operations, Credit Saint LLC

Ashley is currently the Chief Operating Officer for Credit Saint, previously working as a Logistics Coordinator at Ernst & Young. She is currently working toward an Executive Leadership Certificate from Cornell University.

With a degree in education, she is eager to teach the world everything she knows and learn everything that she doesn’t already know! Ashley is a FICO® certified professional, a Board Certified Credit Consultant, Certified Credit Score Consultant with the Credit Consultants Association of America and holds a Fair Credit Reporting Act (FCRA) Compliance Certificate.