A shared appreciation mortgage allows homeowners to use the home equity they have built up in exchange for giving an investor a small ownership stake in the property. The shared appreciation mortgage (SAM) company is an investor, not a lender. As part-owner, the investor shares in the increase or decrease in the value of the property over time. The homeowner continues to pay property taxes, insurance, and maintenance, but not loan payments, on the sum the shared appreciation company has invested. The homeowner repays the investment when they sell the home or at the end of the duration of the agreement terms.

Shared appreciation mortgages are not for every homeowner, however. The offer is typically between 5% to 20% of your home’s current value, so you need more equity than that to qualify. There are also origination fees in the 2.5% to 3% range to contend with. Finally, the investment will need to be paid back with appreciation within 10 years in most cases. This is not a financial tool for the faint of heart.

We researched nine equity sharing companies to find the three that provide shared appreciation mortgages. After looking at their costs, qualification criteria, terms, and speed, we let you know how each one performs best.