Homeowners often feel stuck when expenses spike or life takes an unexpected turn. Maybe interest rates have climbed, credit has taken a hit, or you simply don’t want to restart a 30-year loan. Whatever the reason, refinancing isn’t always the best path.

The good news?
You can access your home’s equity without refinancing & and without taking on new debt.

Modern real estate solutions have evolved far beyond the traditional cash-out refi. Here are six legitimate, homeowner-friendly ways to tap your equity while keeping control of your next steps.

1. Home Equity Agreements (HEAs)

A Home Equity Agreement generally lets you receive a lump sum today in exchange for sharing a percentage of your home’s future value when you sell or refinance later. There are no monthly payments and no interest rate.

Best for:

• Homeowners who want flexibility

• Those who don’t want a higher mortgage payment

• People recovering from credit, income, or life changes

• Anyone who doesn't want another loan on their credit

Why it works:
You get access to cash, and the capital partner gets a return later, not today. The best part? It is not a loan, so your credit score is not a big factor!

2. A Sale-Leaseback (Sell Your Home… and Keep Living in It)

A modern sale-leaseback allows you to access all of your equity at once, pay off obligations, and stay in the home as a renter with a long-term lease. It’s increasingly popular with homeowners who want stability without taking on new debt or moving.

Benefits:

• Cash out a healthy portion of your equity

• Utilize your equity to pre-pay your rent to take care of some or all of the monthly rent obligation

• No showings (besides any inspections) or repairs

• Stay in place as a tenant under the terms of a lease agreement

• Predictable long-term housing

• You are able to stay in your same school district, which is of particular value to anyone with kids

• In some cases, you may have the option to buy back the property at a later date (must be negotiated & agreed upon before initial sale)

This option is particularly valuable for homeowners who want to stay rooted but need a clean financial reset.

3. Novation (A Modern Way to Sell Without Paying for Repairs Upfront)

A novation is a creative real estate agreement that allows you to sell your home at full retail value without paying for repairs, renovations, or upgrades yourself.

A capital partner steps in, handles the repairs or updates needed to bring the home to market standards (like kitchens, bathrooms, flooring, paint, etc.), and then resells the property to a traditional buyer. At closing, the original agreement between you and the capital partner is replaced—or novated—with the final buyer’s contract.

You get paid your agreed amount at closing, without having to spend your own money on improvements.

Why homeowners choose novation:

• No upfront repair costs

• No contractors to manage

• No showings while the property is being worked on

• Ability to get closer to retail value

• Lower fees compared to traditional listings

It’s a great option for homeowners whose property needs work but who don’t want to drain savings or take on debt to get it market-ready.

4. Quick Sale to a Private Buyer (Off-Market Sale)

An off-market sale allows you to avoid showings, agent fees, repairs, and delays. Many homeowners choose this route to cash out quickly and simplify their transition.

Why this is different from a traditional sale:
You can negotiate terms creatively, including move-out timelines, short term rent-back periods, or partial, staggered equity access depending on your goals.

5. Renting Out Part of Your Property (Long-Term)

If your lot or layout allows, you may be able to generate monthly income instead of tapping equity all at once.

Common options include:

• Basement apartment

• Mother-in-law suite

• Detached ADU

This works best if you want ongoing income, not a lump sum.

6. Reverse Mortgage

Reverse Mortgages Explained (Traditional Option)

Reverse mortgages are loans designed for older homeowners that offer cash without monthly payments. They can be helpful, but they often come with strict requirements, higher fees, and long-term implications that some people prefer to avoid.

Modern Alternatives That Aren’t Loans

Today’s homeowners 55+ have access to more flexible choices that don’t involve borrowing at all.

• Home Equity Agreements (HEAs)
You receive a lump sum today, with no interest and no monthly payments. In exchange, a capital partner receives a small share of the home’s future value when you eventually sell.

• Sale-Leaseback Options
You can unlock your equity by selling the home and continuing to live there with a long-term lease. It’s a way to simplify finances, stay in familiar surroundings, and avoid the pressure of taking on new debt.

Why Many Seniors Choose These Alternatives

These modern programs allow you to:

• Avoid monthly payments

• Stay in your home

• Skip the complexity and credit requirements of refinancing

• Access equity without taking on a loan or adding interest

For many retirees, these paths offer the simplicity and stability a traditional reverse mortgage may not.

Which Option Is Right for You?

Every homeowner’s situation is unique. Some want to stay long-term. Some want a fresh start. Others simply want to eliminate pressure and get stable again.

You don’t need to navigate these decisions alone.

At Sold & Stay, we help homeowners understand all of their options without pressure and without pushing any one path.

Thinking About Accessing Your Equity?

You can reach out anytime. One conversation can help you understand which option aligns with your goals, timelines, and financial comfort.

The information in this article is for general educational purposes only and should not be interpreted as financial, legal, tax, or lending advice. Sold & Stay and its capital partners are not a bank, lender, law firm, or government agency, and we do not offer loans, credit, or legal services. Homeowners should review their individual circumstances with qualified professionals before making decisions about their property or finances.